The dairy market in Argentina will register a compound annual growth rate (CAGR) of 8.2% during 2008-2018, finds a report by Canadean.
According to the report titled, "Market Focus: Trends and Developments in the Dairy Food Sector in Argentina," consumption of the dairy products will increase by a CAGR of 7.1% during the forecasted period, primarily driven by Milk -- the category that is expected to account for 66.2% of volume share by 2018.
In terms of value, Cheese and Milk are the high growth categories in the dairy market, constituting 74%, and are expected to grow at CAGRs of 7.7% and 9.5%, respectively.
Due to increasing health concerns - low fat, low calorie, and pro-biotic Yogurt and Milk are being increasingly considered in the market.
Product innovations, novel packaging, and proximity while shopping are factors that will influence the buying decision of Argentine consumers, said the report.
