Libya Dairy Products Market is expected to reach US$ 873.3

New York, Sept. 19, 2022 (GLOBE NEWSWIRE) — The Dairy market in Libya is currently set at 366,736 tons and is expected to evolve to a volume CAGR of 3.3% by the end of 2032, reaching 508,469 tons. and growing popularity of dairy-based products among the general public.

Dairy products are an important part of the human diet and are official dietary recommendations in many countries around the world. Dairy products are a rich source of protein and offer numerous health benefits to consumers. Additionally, rapid changes in the food and beverage market are changing consumer purchasing decisions due to increasing awareness of the benefits of protein. As a result, milk producers in Libya want to offer consumers high-protein dairy products.

Increasing consumer health concerns, the rise of the gym culture and a shift towards foods with functional benefits are seen as some of the key drivers of market growth in the country. This trend may result in retail stores in Libya stocking up on milk and other nutritious dairy products. Health and fitness enthusiasts in Libya looking for protein-enriched food and beverage products will also fuel the market expansion.

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Industrialization and urbanization have increased the disposable income of the population. Due to the increase in disposable income, consumers are looking for premium products. With the trend towards premium products, the Libyan dairy market is expected to grow steadily in the coming years.

On the other hand, there are also certain challenges that limit market progress. For example, Libya has recently experienced high rates of inflation due to multiple factors, reliance on imports for essential commodities and fluctuating commodity prices. Therefore, dairy manufacturers need to carefully address these issues in order to survive in the marketplace.

Important insights from the market study

  • The Libyan dairy market is currently valued at US$588.9 million and is expected to reach a CAGR of 4% during the forecast period (2022-2032).
  • By distribution channel, the Modern Trade category is currently valued at US$110.7 million.
  • Cheese usage in Libya is expected to be 32,191 tons and is expected to increase by 3.6% CAGR.
  • Based on product type, the milk and cream segment is currently set at 308,466 tons and is expected to grow at a CAGR of 3.2% in volume.

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“The Libyan market for dairy products is heavily dependent on imports. As a result, dairy manufacturers around the world can take advantage of this opportunity by establishing their presence in the country and offering high-quality dairy products. The milk and cream segment holds much of the market share as it is considered a daily commodity, although the butter segment has the greatest potential for growth,” says a PersiStence Market Research Analyst.

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competitive landscape

Dairy producers are emphasizing expanding their production and processing capacities along with strengthening their distribution networks to penetrate undeveloped areas of the country.

  • Suta? Sut Ürunleri A.? exports its dairy products to over thirty countries such as USA, Libya, UAE, Qatar, Kuwait, Japan, Iraq and many more with an export value of around US$16 million. This extensive export capacity of the company allows it to increase its brand presence on a global basis.
  • Rawidairy consistently focuses on increasing its production capacity and maintaining reliable and fast communication. It builds and maintains successful business relationships with its dealers and suppliers, which contributes to smooth operations.

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Discover More valuable insights

Persistence Market Research offers an impartial analysis of the Libyan dairy market in its new report, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032. The study provides compelling insights by product type (milk & cream, cheese, butter, dairy desserts, and yoghurt & buttermilk) and distribution channel (modern commerce, online retailers, convenience stores, corner shops, and other distribution channels).

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