Dairy Ingredient Market by Type (Lactose & Its Derivatives, Milk Powder, Milk Protein Hydrolysates, Milk Protein Concentrates, Casein & Caseinates, Whey Ingredients, Milk Protein Isolates, And Others) Source (Milk And Whey) By Application (Convenience Foods, Sports & Clinical Nutrition, Bakery & Confectionery Sources, Infant Milk Formula, And Dairy Sources): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017 – 2024

Global dairy ingredient market expected to reach approximately USD 73.74 billion by 2024, growing at a CAGR of around 6.0% between 2018 and 2024. Milk-based ingredients are used as components in many food products. They have a unique flavor, pleasant texture, and exceptional nutritive value.

17-Aug-2018 | Number of pages: 110 | Report Code: ZMR-1077 | Report Format : | Status : Published

Analysis

Milk is an important food product and has various nutrients, which includes proteins, minerals, glucids, and materials. Milk has a wide application in the food & beverages industry. Dairy ingredients are made up from milk and are used in making of a variety of food products like ice-creams, desserts, chocolate, clinical nutrition, ready-to-eat, soups, pork meat, sports food, and bakery snacks. Moreover, a variety of milk ingredients are available in the market such as milk powder that is prepared by an evaporation process. This dry powder can be conserved for a longer duration than milk. Milk powder doesn’t require any refrigeration owing to its physical characteristics such as low moisture. Milk ingredients are also used in the dairy, bakery & confectionery, sports & clinical nutrition, and convenience foods.

The market for global dairy ingredients is primarily driven by the rising health & wellness concerns among people and raising awareness of nutraceutical food products are one of the key factors for the market growth. Furthermore, the demand for dairy ingredients is increasing due to its wide application in the food & beverage industry. In addition, increasing sports activities and high demand for milk protein isolates & its concentrates are also a major driving factor boosting the global dairy ingredient market growth during the forecast period. However, the presence of alternatives like plant proteins and rising intolerance of lactose & milk allergies among the population is a growth barrier of the market. 

Global Dairy Ingredient Market

The global dairy ingredient market is divided on the basis of type, source, and application. Based on the type, the market is segmented into milk powder, lactose & its derivatives, milk protein isolates, whey ingredients, milk protein concentrates, milk protein hydrolysates, casein & caseinates, and others. Among which, milk powder segment accounted for the largest market share and is expected to attain the largest market share in terms of value during the forecast period. This growth is attributed to its increased shelf life owing to the less moisture content in milk powder. By source, the market is categorized into milk and whey. Among which, milk is projected to attain significant market share over the forecast period. 

Based on application, the market is divided into convenience foods, sports & clinical nutrition, bakery & confectionery sources, infant milk formula, and dairy sources. Among which, sports & clinical nutrition segment is expected to attain the largest market share during the forecast period. Growing importance of healthy lifestyle and weight management among people is a key driving factor for the market growth. 

By geography, the global dairy ingredient market finds its market scope in Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa. The Asia Pacific is the fastest growing region in the market owing to the facts such as rising disposable income of the population in emerging markets including China, India, Bangladesh, Thailand, Malaysia, and Indonesia. 

The report also includes detailed profiles of key players such as Dairy Ingredients Inc., Fonterra Cooperative Group Limited, Friesland Campina, Dairy Farmers of America, Aurivo Dairy Ingredients, Glanbia Plc, and Arla Foods. The detailed description of players includes parameters such as company overview, financial overview, business strategies, and recent developments of the company.


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