PUBLISHER: Grand View Research | PRODUCT CODE: 1554222
PUBLISHER: Grand View Research | PRODUCT CODE: 1554222
The global dairy ingredients market size is expected to reach USD 120.60 billion by 2030 and is anticipated to grow at a CAGR of 5.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising demand for dairy products in emerging markets including China and India as a result of product innovation by companies including Nestle is expected to promote usage of milk powder as a functional ingredient. Rising importance of frozen bakery goods as a result of new product launches by companies including ABF is expected to promote the use of milk powder further over the forecast period.
The emergence of China and India as a major hub for manufacturing baby products on account of increasing birth rates on a domestic level is expected to promote market demand over the projected period.