PUBLISHER: Market Research Future | PRODUCT CODE: 1525914
PUBLISHER: Market Research Future | PRODUCT CODE: 1525914
Global Dairy Ingredients Market Research Report Information by Product Type (Milk Powders, Milk Protein concentrate and milk protein Isolate, Whey Ingredients, Lactose, Others), by Form (Powder, Liquid), By Category (Organic, and Regular), By End Use (Commercial, Residential), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online, Others), By Application (Bakery and Confectionary, Food and Beverages, Infant milk formula, Others), By Region (North America, Europe, Asia Pacific, Rest of World) - Forecast Till 2030
Over the course of the forecast period, the dairy ingredients business is expected to increase at a compound annual growth rate (CAGR) of 7.70%. Over the next eight years, it is anticipated that the growing significance of nutritional enrichment in food and beverages due to people's growing knowledge of the need of leading healthy lives will have a favorable effect. The industry is expected to be significantly impacted by vegetarians' increasing use of functional food products supplemented with protein to meet their needs. Food and beverage businesses, such as Kellogg, have launched new products in response to the growing need for protein supplements in food items. This is anticipated to drive increased demand for whey and milk powder.
Growing customer demand for helpful and healthful food products is one of the factors propelling the global dairy ingredients market's expansion. Dairy products are high in the vital element's amino acids, vitamins, minerals, and proteins. These ingredients are found in a wide range of food products, such as baby formula, baked goods, confections, sports nutrition, and nutritional supplements. As consumers' attention shifts toward wellness and health, they are searching for food products with additional nutritional benefits. Dairy components fulfill this needs by enhancing the nutritional profile and usefulness of a variety of foods. The global demand for dairy ingredients has surged due to customers' increasing inclination towards wholesome and functional food products.
Insights on Market Segments
Milk powders, milk protein isolate and concentrate, whey ingredients, lactose, and other product types are included in the segmentation of the dairy ingredients market based on product type. According to form, the market is divided into two segments: powder and liquid. The market is divided into two segments according to category: Organic and Regular.
Based on End Use, the Dairy Ingredients Market is Segmented into Commercial and Residential. Convenience stores, specialty stores, online, supermarkets/hypermarkets, and others are included in the market segmentation based on the distribution channel. Food and Beverages, Bakery and Confectionary, Infant Milk Formula, and Others are included in the market segmentation based on application.
Regional Perspectives
Having had the greatest market share in 2020, the Asia Pacific category is projected to grow at a compound annual growth rate (CAGR) of 9.1%, with a market value of USD 18,756.1 million. Growing awareness of health and wellness, fast urbanization, and an increase in disposable money are the main factors driving the dairy business in this area. The world's greatest dairy product consumption base is found in Asia-Pacific.
From 2022 to2028, the dairy ingredients market in North America is anticipated to expand at a notable CAGR. The number of athletes and young people's growing awareness of food and health has led to a growth in the dairy ingredients market in North America. It has been demonstrated that manufacturers' incorporation of new features and technologies has a favorable effect on the market. In North America, dairy products are needed not just for food and drink but also for personal hygiene, animal feed, and medications and nutraceuticals. In addition, there has been a growth in the production of whole milk powder to meet the demand from exporters worldwide.
Principal Players
Key players in the dairy ingredients market include the Netherlands' FrieslandCampina N.V., Denmark's Arla Foods, Ireland's Glanbia Plc, Fonterra Co-operative Group Limited, New Zealand's Kerry Group plc, the United States' Dairy Farmers of America Inc., France's Groupe Lactalis, Ireland's Co-Operative Limited, Canada's Saputo Inc., the United Kingdom's Volac International Ltd., Switzerland's Nestle, and France's Danone S.A.