Market Size of Asia Pacific Dairy Based Beverages Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Dairy-Based Beverages Market Analysis
The Asia-Pacific dairy-based beverage market is projected to register a CAGR of 5.1% during the forecast period, 2020-2025.
- The market is mainly driven by the value of nutrition and functional properties of milk, along with the rising demand for probiotic drinks by health-conscious consumers. Furthermore, recent launches of formulated functional products with new flavors have further fueled the global market, such as fortification of drinks with omega 3, collagen, aloe vera, plant sterols, and soy isoflavones. For instance, Morinaga Nutritional Foods Inc. launched a low-fat Japanese-style yogurt drink under its Alove brand in three flavors- original aloe vera, strawberry banana, and coconut in March 2018. Also, in 2018, Yakult Danone launched a new version of its signature probiotic drink in India.
- However, rising demand for non-dairy based drinks and carbonated drinks due to lactose intolerance and other allergies is one of the factors restraining the global market for dairy-based beverages.
Asia-Pacific Dairy-Based Beverages Industry Segmentation
The Asia Pacific dairy-based beverage market is segmented by type, category, and distribution channels. By type, the dairy beverage market is segmented into milk, yogurt, kefir, and others; and by category, into flavored and unflavored drinks. By distribution channel, the market has been segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online channels, and others. Also, the study provides an analysis of the dairy-based beverage market in the emerging and established markets across the Asia Pacific, including China, Japan, Australia, India, and Rest of Asia Pacific.
| By Type | |
| Milk | |
| Yogurt | |
| Kefir | |
| Others |
| By Category | |
| Flavoured Drink | |
| Unflavored Drink |
| By Distribution Channel | |
| Supermarkets/hypermarkets | |
| Convenience stores | |
| Specialty Stores | |
| Online Channels | |
| Others |
| By Country | |
| China | |
| Japan | |
| Australia | |
| India | |
| Rest of Asia-Pacific |
Asia Pacific Dairy Based Beverages Market Size Summary
The Asia-Pacific dairy-based beverages market is experiencing significant growth, driven by the nutritional and functional benefits of milk, alongside a rising consumer demand for probiotic drinks. Health-conscious consumers are increasingly seeking beverages fortified with ingredients like omega-3, collagen, and plant sterols, which has spurred the launch of innovative products with new flavors. The market is witnessing a surge in the popularity of kefir and drinking yogurts, which have become leading products in the dairy-based beverage segment. Technological advancements have enabled the development of new probiotic strains, allowing for the expansion of probiotic products beyond traditional refrigerated dairy categories into hot and cold beverages. This has encouraged manufacturers to invest in differentiating their product offerings through technological innovations.
Despite the growth, the market faces challenges from the rising popularity of non-dairy and carbonated drinks, particularly among consumers with lactose intolerance or allergies. The market is characterized by a fragmented landscape with numerous regional and domestic players, prompting companies to focus on mergers, acquisitions, and strategic partnerships to enhance their market presence. Key players such as GCMMF (Amul), Fonterra Co-operative Group, and Yakult Honsha Co. Ltd. are leading the market, while smaller players strive to meet global standards. The increasing consumer awareness and interest in functional ingredients like probiotics, coupled with media coverage and technological advancements, are further propelling the market's growth in the region.
Asia Pacific Dairy Based Beverages Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Milk
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2.1.2 Yogurt
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2.1.3 Kefir
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2.1.4 Others
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2.2 By Category
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2.2.1 Flavoured Drink
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2.2.2 Unflavored Drink
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2.3 By Distribution Channel
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2.3.1 Supermarkets/hypermarkets
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2.3.2 Convenience stores
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2.3.3 Specialty Stores
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2.3.4 Online Channels
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2.3.5 Others
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2.4 By Country
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2.4.1 China
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2.4.2 Japan
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2.4.3 Australia
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2.4.4 India
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2.4.5 Rest of Asia-Pacific
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Asia Pacific Dairy Based Beverages Market Size FAQs
What is the current Asia Pacific Dairy Based Beverages Market size?
The Asia Pacific Dairy Based Beverages Market is projected to register a CAGR of 5.10% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Dairy Based Beverages Market?
GCMMF (Amul), Fonterra Co-operative Group, Bright Dairy & Food Co., Ltd., Yakult Honsha Co. Ltd and Mother Dairy Fruit & Vegetable Pvt. Ltd. are the major companies operating in the Asia Pacific Dairy Based Beverages Market.
