Research and Markets (http://www.researchandmarkets.com/research/6p57tf/milk_and_dairy) has announced the addition of the «Milk & Dairy Products Market Update 2013» report to their offering.
This Market Update examines the state of the milk and dairy industry in the UK. In 2012, the market grew by 1.9%.
The analysis covers all milk and dairy products, excluding ice cream. It also includes alternative variants, such as almond milk and soya yoghurt. Milk is responsible for over a third of the total market value. Sector growth in 2012 was driven by the rise in alternative milk and flavoured products. Semi-skimmed pasteurised milk is the UK’s favourite. Almost all households (99%) buy cheese and nearly half of all cheese sold is cheddar; however, consumers are increasingly buying other types of cheese. Cathedral City is the leading brand in the market.
The fastest-growing sector in 2012 was yoghurt, yoghurt drinks and chilled desserts in terms of value. However, volume sales declined due to falling demand for branded yoghurts. Manufacturers have responded by adding new and exciting flavours to their portfolios. Limited editions are frequent in the category. Moreover, both the yoghurt drinks and chilled desserts subsectors have performed well. Innovation has played an important role behind their success. The butter subcategory, both blocks and spreads, grew in 2012. However, the total yellow fats category declined. The rise in home cooking and changes in consumer behaviour towards a naturally healthier lifestyle have contributed to these trends. Finally, in 2012, the cream sector experienced its lowest growth of the past 5 years. This is due to the growing importance of private labels in the market, which hindered the segment’s value growth; however, volume sales increased.
Milk and dairy products play a critical role in Britons’ diets and account for roughly 30% of their food intake. Trends in the market include the rise in original flavours as manufacturers try to make their products stand out on retail shelves. Format innovation has also helped to create a point of difference. It mainly targets the lunchbox and snacking occasions, which are growing in importance. Lighter options continue to be introduced as consumers are increasingly concerned about their health. Manufacturers are perpetually investing in their portfolios to remain competitive in an increasingly fierce market. Own labels are gradually increasing their total market share.
Milk and dairy products are popular in the UK, but consumption levels are in decline as Britons diversify their diets. Moreover, consumers are limiting their spending as a result of the economic crisis and the downturn has put pressure on the industry to increase promotions. Furthermore, UK dairy farmers continue to struggle to remain profitable. Overall, Key Note expects that milk and dairy products’ value growth will grow just by 6.8% over the next 5 years in spite of manufacturers’ continued efforts to maintain dynamism.
Companies Mentioned
– Arla Milk Link
– Dairy Crest
– Danone UK
– First Milk
– Kavli
– Müller Wiseman Dairies
– Unilever
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Source:Reuters