By 2030, global milk sales will increase from $944 billion in 2009 to $1.3 trillion, with a compound annual growth rate of close to 5%.
Plant-based milk will also see growth, but at a slower pace, according to the report. Dairy sales are expected to grow from $12.6 billion to $26 billion by the end of the decade. Eatable Adventures' The Future of Dairy Report.
The report states that “technological innovation is proving to be a critical force across the food value chain, addressing global challenges from farm to dairy.”
This quest for improvement is particularly important in the dairy sector, which faces many challenges, including environmental impact, price pressures and social transformations.
Dairy industry adopts new technologies to meet future challenges.
The introduction of new technologies would not only help meet future challenges, but also influence the evolution of the industry and shape its future.
Precision fermentation is one of the six key technologies. It allows microorganisms, such as bacteria and yeast, to produce ingredients that closely mimic animal products.
The difference between traditional fermentation and precision fermentation is that it uses genetically modified microorganisms to develop specific compounds, with precision and efficiency. Experts predict that it will take up to five more years for the industry to fully commercialize precision fermentation.
Using cell cultures to produce animal-based foods would replace the traditional method.
The report states that "Although lab-grown meat has recently been discussed, it is emerging as a significant player in the animal-free space."
This technology can be used in the dairy industry to not only produce consumable breast milk, but also to create functional milk that is an alternative to breast milk.
Experts estimate that cell-based milk would be the most expensive to develop and that the products would not reach supermarket shelves for 10 years.
Fermentation of mycelium using biomass
The category was also asked to use various tools to promote growth, including molecular farming, plant cell fermentation and biomass fermentation for mycelium growth.
Technology enablers refer to the full range of technology solutions that support ingredient development, including hardware and software. This is essential to ensure the success of the sector.
In the past, dairy alternatives have been crucial to the development of technology in this sector. The report indicates that investments have fallen from $595 million in 2021 to $42.7 million the previous year.
The report says the alternative dairy sector is gaining momentum, with $114 million invested so far this year. This investment has been led by large corporate investors who, according to the report, “are playing a significant role in alternative milk investments, underscoring the appetite for innovation.”
A dairy industry expert says the future transformation of the sector must also consider health benefits. These USPs, he says, are critical to the success of the category and represent a “significant opportunity” for our industry.
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