The report
“The US Dairy Market: What Consumers Eat and Why?” by Canadean is now available at RnRMarketResearch.com.
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This
report provides the results for the Dairy market in the US from Canadean’s
unique, highly detailed study of consumers’ Consumer Packaged Goods (CPG)
consumption habits, and forms part of an overall series covering all CPG
product markets. Its coverage includes, but is not limited to, consumption behaviors,
the extent to which consumer trends influence their consumption, the value of
the market these trends influence, and brand and private label choices as well
as retailer choices. Much of this information can also be analyzed by specific
consumer groups, providing hard and fast data on consumers and markets at the
product category level.
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.
Introduction
and Landscape
Why was
the report written?
Marketers
in the Dairy market face a major challenge. Understanding market size and
segmentation is valuable, but the key to effective targeting is knowing just
how valuable specific consumer groups are, and being able to quantify the
impact of consumer trends. This data report solves these problems by providing
integrated survey-based data on consumer trends and consumer groups, and market
data that shows the exact size of consumer groups, how much of the Dairy market
they account for, and which consumer trends drive their behavior.
What is
the current market landscape and what is changing?
As
consumer confidence increases proportionally to economic recovery, consumer
trends will be directly affected. Since the global financial crisis of
2008-2009 the retail market has been characterized by an increase in the amount
of discounted and own-brand products. The majority of the Dairy products such
as Milk, Yoghurt, Butter, and Cheese are considered essential items and,
therefore, the recession has affected their consumption patterns only marginally
in relation to other Dairy products such as Puddings/Desserts.
What are
the key drivers behind recent market changes?
Consumers’
uptake of products and the influence of consumer trends are fundamental causes
of change in markets – making knowing what these trends are and the extent of
their influence crucial. The survey-based data provided in this report examines
over 20 consumer trends that affect the market and examines the share of
consumption across 26 consumer groups. The data provides a detailed insight
into exactly who the consumer is and just how much impact the latest consumer
trends are having.
What makes
this report unique and essential to read?
The data
provided is unique in the market as it tracks consumer behavior through to its
actual value impact on a product market. This provides readers with a unique
data analysis of the market, allowing marketing tactics and strategy to be
updated in line with the very latest consumer behaviors.
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Key
Features and Benefits
Consumer
data, based upon proprietary surveys and then consumer group tracking and
modeling for the following specific categories: Butter and Spreadable Fats,
Cheese, Cream, Milk, Puddings/Desserts, and Yoghurt markets.
Detailed
consumer segmentation covering over 26 consumer groups, 20 consumer trends, and
consumption frequency for each product category.
Consumer
penetration for brands and private labels, based upon the original survey and
then subsequent consumer tracking and modeling.
Unique
retailer choice data at the product category level, based upon the original
survey and then subsequent consumer tracking and modeling.
Key Market
Issues
The volume
and value of the Cream market may be under threat from low consumption by
younger consumers, with consumption significantly higher in the Pre-Mid-Lifers,
Mid-Lifers, and Older Consumers age groups. Suppliers need to increase
consumption frequency among younger consumers, or face a considerable
contraction in the market in the future.
Heavy
frequency consumption of Milk declines from more than 43% of Kids and Babies
and Tweens and Early Teens to less than 15% among adults. Parents encourage
their children to drink Milk to benefit from its high calcium content, but
consumption then falls when consumers reach adulthood as Milk’s health benefits
aren’t as necessary and these products face increasing competition from other
beverages such as soft drinks and alcoholic drinks.
Consumption
of Puddings/Desserts declines among Early Young Adults, with relatively low
consumption continuing among Older Young Adults and Pre-Mid-Lifers. Affluence
is a key factor driving this low consumption, with younger adults typically
enjoying less disposable income than consumers in older age groups, and
therefore consuming fewer luxuries such as Puddings/Desserts.
Key
Highlights
Market
valuation indicates per capita expenditure on Milk is the highest in the Dairy
market, closely followed by Cheese. Cream is the least purchased Dairy item in
value terms.
Almost
half of the volume of Milk distributed in the US is private label. In contrast,
private labels have a penetration of only 18% in Butter and Spreadable Fats and
20% in Puddings/Desserts, indicating that they have struggled to gain market
share in value-added Dairy product categories. However, these market shares may
grow as private labels become increasingly accepted by US consumers and the
country’s economy remains relatively weak.
Not only
do a large proportion of US consumers, in certain categories at least,
highlight that specific consumer trends have an influence on their consumption,
this translates into a significant proportion of actual value being directly
influenced as well. Consumer are therefore acting on these trends enough to
ensure that targeting them, in the right categories, is essential to success.
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