Consumers' Quest for Wellness Drives Expansion of Global Functional Milk Industry, the Market to Hit $41.74 Billion by 2029 - Arizton

CHICAGO, Feb. 14, 2024 /PRNewswire/ -- According to Arizton's latest research report, the functional milk market is growing at a CAGR of 7.53% during 2023-2029

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Browse in-depth TOC on the Functional Milk Market

317 – Pages                  
120 - Tables       
123- Figures    

Functional Milk Market Report Scope

The food and beverage industry is witnessing a notable surge in health consciousness among consumers, driving a preference for nutritional-rich products. This trend has significantly influenced the market, particularly in the demand for functional milk. With obesity rates on the rise, consumers are increasingly seeking healthier options, and functional milk, enriched with essential nutrients like vitamins, minerals, and probiotics, perfectly aligns with this health-focused mindset. One key aspect driving the popularity of functional milk is its alignment with the clean-label trend, characterized by transparency in ingredients and minimal processing. Consumers are drawn to products offering nutritional benefits and additional health-promoting elements, such as immune support and improved digestion. This emphasis on wholesome and natural options has propelled the appeal of functional milk, which provides traditional milk benefits and offers added functionality.

Functional milk is also gaining traction among consumers looking to manage chronic conditions like hypertension, osteoporosis, and certain gut disorders naturally. Its convenience, often available in ready-to-drink formats, caters to busy lifestyles, while advancements in flavoring and masking techniques have made it more appealing to a wider audience. Furthermore, consumers are increasingly concerned about sustainability and ethical practices, favoring functional milk products from organic or grass-fed dairy farms. The rise in obesity rates has prompted individuals to reassess their dietary habits, leading to a demand for products that combine taste with functional benefits. Functional milk has emerged as a viable solution, offering health-enhancing properties without compromising flavor. As consumers prioritize their well-being, the demand for functional milk will continue growing, driving innovation in the dairy industry to meet evolving needs. Sugar-free milk options are also gaining popularity, catering to those seeking to reduce sugar intake or manage conditions like diabetes. This trend has prompted expansion in the functional milk market, with innovative products aligning with evolving consumer preferences for healthier options. The market's growth is evident, with the US dominating globally and regions like APAC, Europe, and Latin America showing significant demand increases, reflecting changing dietary habits and a growing awareness of health and wellness.

Immunity & Disease Management Dominating the Functional Milk Market, whereas Weight Management to Witness the Fastest Growth Rate

In 2023, the global functional milk market witnessed a substantial 39.25% revenue share in the immunity and disease management segment. Fueled by growing health consciousness, consumers seek functional foods for immune support and chronic disease management. The market responds with innovative products addressing specific health concerns, driving growth. Rising autoimmune diseases and cardiovascular issues boost demand for functional milk, while osteoporosis awareness escalates interest in bone-strengthening variants. This reflects consumers' proactive approach to well-being, underscoring the pivotal role of functional milk in meeting evolving health needs.

In 2023, the weight management segment held a substantial more than 27% revenue share in the global functional milk market. This growth is driven by heightened consumer awareness and concern regarding weight management. Consumers actively seek milk options that provide essential nutrients and aid in weight loss or maintenance. Functional milk products, fortified with probiotics, protein, and vitamins, are increasingly popular for their convenience and taste

 while supporting weight management goals. Claims of boosting metabolism and promoting satiety align with prevailing health trends, driving demand. With the focus on protein's role in weight management, functional milk stands poised for continued growth as consumers prioritize balanced nutrition.

APAC Leading the Functional Milk Market

The rise in disposable income also played a pivotal role in propelling the demand for functional milk. As consumers enjoy increased financial prosperity, they are more inclined to invest in premium products, and functional milk falls within this category. The willingness to spend on products that contribute to overall well-being became a defining characteristic of consumer behavior in APAC.

The increasing aging population in APAC is significantly impacting the functional milk market. As people age, there is a growing awareness and demand for products that promote health and well-being.

Functional milk, enriched with nutrients such as vitamins, minerals, and probiotics, caters to the specific needs of the elderly population. This demographic shift led to a surge in the consumption of functional milk products, creating new opportunities for the market to expand and innovate in addressing the unique health concerns of an aging population in APAC.

Key Developments in the Functional Milk Market

• In 2022, ABBOTT spent on research and development around USD 2,888 million to increase its consumer base and generate more revenue in the industry.
• By 2025, DANONE will launch ≥85% vol Kids dairy fortified with relevant vitamins & minerals.
• In 2022, NESTLÉ introduced an infant formula with HMO, which helps increase brain myelination, support gut health, and strengthen immunity.

The Functional Milk Market Report Encompasses Crucial Data, Including:        
CAGR (Compound Annual Growth Rate) during the forecast period: This metric provides insights into the annual growth rate of the functional milk market over the specified time frame.        
Detailed information on growth drivers: The report offers in-depth information on the factors that will propel the functional milk market growth from 2023 to 2029. This includes an analysis of various market influences.        
Precise estimation of market size: Accurate assessments of the functional milk market size and its contribution and focusing on key market segments.        
Predictions about upcoming trends and changes in consumer behavior: The report offers insights into anticipated trends and shifts in consumer behavior that are likely to impact the functional milk market, helping businesses prepare for future market dynamics.        
Geographical market growth: The report covers the development of the functional milk market across different regions, including North America, Europe, APAC, Latin America, the Middle East, and Africa. This provides a comprehensive understanding of the market's global landscape.        
Competitive landscape analysis: A thorough examination of the market's competitive landscape is presented, including detailed information about companies operating in the functional milk market. This includes an overview of key players, their market share, strategies, and key developments.        
Analysis of growth challenges: The report includes a comprehensive analysis of factors that may pose challenges to the growth of companies in the functional milk market, providing a well-rounded view of the market dynamics.   

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Key Company Profiles

• ABBOTT
• Danone
• Lactalis International
• Nestlé

• Aroma Milk Products
• Arla Foods amba
• Best Way Ingredients
• Best Health Foods
• Bright LifeCare
• CAPSA
• Crediton Dairy
• Dairy Farmers of America
• Ehrmann
• Fonterra
• Glanbia
• GCMMF
• Heritage Foods
• INGREDIA
• Land O' Lakes
• Lycotec
• MEGMILK SNOW BRAND
• Milligans Food Group
• Mother Dairy Fruit & Vegetable
• Parag Milk Foods
• SADAFCO
• SLEEPWELL
• Stolle Milk Biologics
• Synlait
• Tirlán
• Tesco
• Vindija d.d.
• Valfoo
• Vinamilk
• F&N Dairies
• FrieslandCampina
• Organic Valley
• Clover Sonoma
• Darigold
• Fairlife
• McNeil Nutritionals
• Agropur
• Gay Lea Foods Co-operative Ltd.
• Cayuga Milk Ingredients
• Procal Dairies
• HP Hood

Market Segmentation

Form

• Powder
• Liquid

Applications

• Immunity & Disease Management
• Weight Management
• Clinical Nutrition
• Others

Age

• 14–19
• 20–64
• 1–13
• 64 & Above

Distribution Channel

• Hypermarkets
• Convenience Stores
• Online
• Grocery Stores
• Specialty Stores
• Institutional Sales

Geography

• APAC
• China
• Japan
• South Korea
• Australia
• India
• Thailand
• Indonesia
• Philippines
• Malaysia
• Vietnam
• North America
• The US
• Canada
• Europe
• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• Saudi Africa
• Saudi Arabia

Key Questions Answered in the Report:  

How big is the functional milk market?

What is the growth rate of the global functional milk market?

Which region dominates the global functional milk market share?

What are the significant trends in the functional milk market?

Who are the key players in the global functional milk market?

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