Analysts expect an increase in supply in the dairy market until 2025
According to GIRA, the main role in maintaining demand in the dairy market in 2020 was played by drinking milk and cheeses. Drinking milk consumption has been declining in previous years (at least in developed countries), but in 2020, on the contrary, it has become a driver of growth. Lockdown and the forced transition to "home cooking" have played a role. In the future, the impact of this trend will decrease.
Meanwhile, in the market of ingredients for sports, medical and other types of specialized nutrition, the demand for milk protein concentrates is growing (in general, the largest share in this market belongs to whey proteins), but the demand for vegetable proteins is also growing (and at a faster pace), now their share is 15%. The segment of vegetable alternatives is growing objectively and many dairy companies are bringing their "vegetable brands" to the market. Today, most experts in the dairy sector say that its future belongs to food companies that produce ingredients from animal and vegetable raw materials.
In general, Gira's forecast until 2025 implies an increase in supply on the market (due to the growth of raw milk production in China, the EU, the USA and Russia), an increase in cheese production and, accordingly, whey, which means that it is necessary to develop deep processing and the ingredients market, while in the EU and US markets, demand for dairy products will decrease, including due to the competition of plant-based alternatives.
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