The present study determined the consumption and preferences of dairy products, especially fermented products, in respect of Polish and Taiwanese students, through their answers to seven research questions (RQs) as part of the design process. The research for the study was conducted in two countries: in Poland at WULS and in Taiwan at NCHU. Two-hundred students in total (19–25 years old) were selected for the study. Responses to the research questions were collected using Paper & Pen Personal Interview (PAPI). The results indicate that Taiwanese students were less likely to declare consuming dairy products daily compared to Polish students (p < 0.0001). Poles declared consuming dairy products every day, or once or several times a week, while Taiwanese declared several times a week or several times a month. A total of 89% of Polish students indicated milk as their most commonly consumed dairy product, followed by yoghurts (80%) and ripened cheeses (69%). A total of 95% of Taiwanese students also mentioned milk as their most consumed dairy product, then yoghurt (especially drinking yoghurt) (81%), milk desserts (70%) and Yakult (69%). In the case of fat content preference in yoghurt, Poles significantly preferred yoghurts with regular fat content, while Taiwanese significantly preferred fatty yoghurts (p < 0.0001). The most common characteristic of yoghurt that influenced Polish students’ purchase decisions was its composition, followed by its consistency, appearance and its sour taste. However, for Taiwanese, the most important factors were the consistency, price and sweetness of the yoghurt. Polish students were significantly more willing to pay a higher price for a dairy functional product than Taiwanese students (p = 0.0009). The responses obtained show differences and similarities in the preferences and consumption of these products between Polish and Taiwanese students. The results of this study were used to direct the next stage of the project’s development research, the goal of which was to develop a functional dairy product that meets the preferences of consumers.