With the recent release of its comprehensive global report on milk, Global Industry Analysts predicts that worldwide fluid milk sales will reach 307.4 million metric tons by 2015.
Despite the dampener cast by the recession, the organization says the milk industry's medium to long-term outlook remains encouraging based on population growth, resurgence of the rise in per capita consumption, gross domestic product growth, discretionary spends, continued shift towards packaged products, and higher interest among consumers for value-added, healthier and functional products.
The report says that the prime impetus for milk consumption comes from increasing demand in developing countries coupled with a growing consumer preference for packaged milk. A key reason fingered for the growing popularity of packaged milk is the level of convenience, and ease of use offered together with innovations in product packaging.
The report also notes that future growth in consumption will be focused in emerging markets, with India, China, Pakistan and the Middle East together accounting for almost 96 percent of the increased consumption in milk and dairy products. Rising population, increasing household income, easy availability in the retail market, rising awareness over the health benefits of dairy products, and shift in dietary trends, are all factors poised to drive growth in these markets.
Source: PRWeb, Global Industry Analysts