According to IMARC Group, the global dairy market was worth around US$ 596 Billion in 2016, growing at a CAGR of around 3% during 2009-2016.Several factors like rising incomes, growth of emerging markets, rapidly growing population of health conscious consumers and a thriving food and beverage industry have proved proactive in maintaining a stable growth of the global dairy market for the past decades. However, the market has experienced an imbalanced demand-supply ratio in recent years due to a sluggish demand in the key import markets. The sudden fall in the imports from the two largest dairy importers, China and Russia, resulted in the fall of dairy prices. Nonetheless, growing health consciousness, increasing disposable incomes and healthy innovations in dairy products suiting the current lifestyle trends are expected to sustain the global demand for dairy products during the forecast period.
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