PUBLISHER: The Business Research Company | PRODUCT CODE: 1608774
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608774
Modified milk ingredients are dairy components that have been altered through various processing techniques to enhance their functional properties, improve nutritional profiles, or address specific dietary needs, such as lactose reduction. These ingredients are utilized in a wide range of food products to enhance texture, flavor, and nutritional value while preserving the essential benefits of traditional dairy.
The primary types of modified milk ingredients include calcium-reduced skim milk, casein, caseinates, and others. Calcium-reduced skim milk is skim milk that has undergone processing to lower its calcium content, making it suitable for individuals who need to limit their calcium intake for specific dietary or health reasons. These ingredients are available in various forms, such as liquid, concentrated, dry, frozen, and reconstituted, and they find applications across food and beverages, cosmetics and personal care, nutraceuticals, pharmaceuticals, and more. Distribution channels for modified milk ingredients include both business-to-business (B2B) and business-to-consumer (B2C) approaches.
The modified milk ingredients market research report is one of a series of new reports from The Business Research Company that provides modified milk ingredients market statistics, including modified milk ingredients industry global market size, regional shares, competitors with a modified milk ingredients market share, detailed modified milk ingredients market segments, market trends, and opportunities, and any further data you may need to thrive in the modified milk ingredients industry. This modified milk ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The modified milk ingredients market size has grown strongly in recent years. It will grow from $107.97 billion in 2023 to $116.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period can be attributed to several factors, including the rising demand for organic dairy products, increased production of milk solids, heightened health consciousness among consumers, growing demand for health-promoting products, and an uptick in exports of modified milk ingredients.
The modified milk ingredients market size is expected to see strong growth in the next few years. It will grow to $158.23 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The growth during the forecast period can be attributed to the increasing popularity of flavored beverages, rising demand for functional foods and drinks, a growing interest in protein supplements, and the expanding use of milk ingredients. Additionally, there is an increasing demand for health-promoting products. Key trends expected in this period include innovations and technological advancements, the development of new technologies for manufacturing milk ingredients, and flavor innovations.
The increasing demand for dairy products is anticipated to drive the growth of the modified milk ingredients market in the future. This demand stems from the rich nutritional profile of dairy, which includes essential proteins, vitamins, and minerals, alongside a growing consumer emphasis on health and wellness. Modified milk ingredients play a vital role in the dairy sector by improving the functionality, texture, and nutritional value of dairy products, enabling manufacturers to address diverse consumer preferences and innovate with new formulations. For example, in November 2023, the United States Department of Agriculture (USDA) forecasted that Australia's milk production would grow by 0.6% in 2024, reaching 8.50 million metric tons (MMT), following a stabilization at approximately 8.45 MMT in 2023 after several years of decline. Consequently, the increasing demand for dairy products is fueling the growth of the modified milk ingredients market.
Key companies in the modified milk ingredients market are focusing on creating innovative products with reduced lactose to meet the rising demand for lactose-free and low-lactose food options. Reduced-lactose milk products enable those with lactose intolerance to benefit from the nutritional properties of dairy without experiencing digestive discomfort. For instance, in November 2023, Nestle, a Switzerland-based company, introduced N3 milk with enhanced dietary benefits in China. The production technology used in N3 milk reduces lactose by up to 80% while converting it into beneficial prebiotic fibers. This product maintains essential nutrients found in regular milk, such as proteins, vitamins, and minerals, and contains over 15% fewer calories compared to traditional milk products.
In June 2024, Osprey Capital LLC, a US-based investment service firm, acquired Oberweis Dairy Inc. for an undisclosed amount. This acquisition aims to enhance Osprey Capital's operational efficiency, strengthen its market presence, and foster future growth. Oberweis Dairy Inc. is a US-based company specializing in the production of modified milk ingredients, including cream and skim milk.
Major companies operating in the modified milk ingredients market are Nestle SA, Danone S.A., Groupe Lactalis S.A., Fonterra Co-operative Group Limited, Saputo Inc., China Mengniu Dairy Co. Ltd., Kerry Group, Savencia Fromage And Dairy, Agropur Cooperative, Glanbia plc, Emmi Group, Bel Group, Royal A-ware, Vinamilk, Leprino Foods, Arla Foods Group, Schreiber Foods, Valio Ltd., First Milk Ltd., Amul, Royal FrieslandCampina N.V.
Asia-Pacific was the largest region in the modified milk ingredients market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the modified milk ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the modified milk ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The modified milk ingredients market consists of sales of whey protein concentrates, whey protein isolates, milk protein concentrates, and milk protein isolates. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Modified Milk Ingredients Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on modified milk ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for modified milk ingredients ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The modified milk ingredients market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.