Western Europe Dairy Sector to See Resurgence, States Euromonitor International in Topical Report Available at MarketPublishers.com
23 Jan 2017 • by Natalie Aster
LONDON – In 2016, the dairy market in Western Europe gave way to that in the Asia Pacific region owing to the price pressures across marketing channels and consumers turning to alternative food products. Nevertheless, dairy is set to come back into fashion in Western Europe as its health position is being augmented and product development revolves around ‘snackifying’ dairy products to compete with on-the-go meals and be more diversified.
During 2009-2016, dairy in the region has seen ongoing decline in retail value posting a negative CAGR of 1%. This is a delayed response to the financial turmoil back in 2009 when cash poor consumers opted for less expensive brands or private label.
Nevertheless, with the recovery of the economy, not all consumers turned back to their favourite brands and a greater number of consumers kept on shopping in discount shops, whose share surged drastically. This is putting brands on adding value to their dairy product offerings to maintain market share where little new sales are generated. Yet things are expected to change as dairy is poised to see a revival at CAGR of 0.4% through 2021 owing to the food’s healthy composition.
Topical research report “Dairy in Western Europe” drawn up by Euromonitor offers a comprehensive analysis of the packaged food market with a focus on the dairy sector. It gives an analysis of the size and shape of the market, limelights buzz topics, emerging geographic regions, major categories and prevalent trends. The study sheds light on the growth sectors and identifies key market drivers. The research report scrutinises the competitive scenario, discusses the leading players and key brands. It also presents detailed forecasts assessing how the sector is projected to evolve in the next five years.
More comprehensive market reports by Euromonitor are available at its page.