Dairy Ingredients Market Size, Share, Forecast, & Trends Analysis by Source, Type, Application - Global Forecast to 2031
Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Dairy Ingredients Market Size, Share, Forecast, & Trends Analysis by Source, Type, Application - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
Dairy ingredients market is estimated to reach $93.22 billion by 2031, at a CAGR of 4.9%
Dairy Ingredients market's growth is driven by the growing adoption of dairy ingredients in the food industry, increasing health & wellness trends, improvements in supply chain management, rising consumer awareness regarding nutritional foods, and increasing milk production. However, demand for plant-based dairy alternatives and the increasing incidence of lactose intolerance may restrain market growth.
Moreover, technological advances in the dairy industry and emerging economies are expected to create market growth opportunities. However, rising consumer awareness about the benefits of a vegan diet poses a significant challenge to the market's growth.
Based on source, this market is segmented into milk and whey. In 2024, the milk segment is expected to account for a larger share of 78.9% of the global dairy ingredients market. This segment's large share is primarily due to its broad range of applications and milk's versatility and beneficial properties. Furthermore, milk's high protein and vitamin content make it a staple food, propelling market growth.
Based on type, this market is segmented into milk powder, whey protein, milk protein, casein and caseinates, third-generation dairy ingredients, lactose, lactose derivatives, buttermilk powder, and whey permeate. The milk protein segment is expected to grow at the fastest CAGR of 6.1% during the forecast period. The segment's rapid growth is attributed to its versatile, functional properties and high protein content, which have increased its usage in sports nutrition and the nutraceutical industry.
Based on application, this market is segmented into food, beverages, nutritional health supplements, animal feed, and other applications. In 2024, the food segment is expected to account for the largest share of 37.3% of the global dairy ingredients market. This segment's large market share is primarily attributed to the increased demand for nutrient- and fortifying-rich food products, growing consumption of functional food products, and increasing awareness of dairy components and their multiple uses in processed foods.
Asia-Pacific is expected to record the highest CAGR during the forecast period, mainly due to the growing number of infants and rising demand for organic dairy components.
Key Questions Answered in the Report:
What is the current revenue generated by the dairy ingredients market globally?
At what rate is the dairy ingredients demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the dairy ingredients market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments, in terms of source, type, and application, are expected to create traction for the manufacturers in this market during the forecast period 2024-2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the dairy ingredients market?
Who are the major players in the dairy ingredients market? What are their specific product offerings in this market?
What are the recent strategic developments in the dairy ingredients market? What are the impacts of these strategic developments on the market?
Company Profiles
Lactalis Group (France)
Dairy Farmers of America, Inc. (U.S.)
Fonterra Co-Operative Group Limited (New Zealand)
Arla Foods amba (Denmark), Saputo Inc. (Canada)
Royal FrieslandCampina N.V. (Netherlands)
Savencia SA (France)
Sodiaal International (France)
Glanbia PLC (Ireland)
Agropur Cooperative (Canada)
Schreiber Foods Inc. (U.S.), Morinaga Milk Industry Co., Ltd. (Japan)
AMCO Proteins (U.S.)
KOMOS GROUP LLC (Russia)
Prolactal GmbH (Austria)
Market Insights
Drivers
Rising Adoption of Dairy Ingredients in the Food Industry
Increasing Health & Wellness Trends
Improvements in Supply Chain Management
Rising Consumer Awareness Regarding Nutritional Foods
Increasing Milk Production
Restraints
Demand for Plant-Based Non-Dairy Alternatives
Increasing Incidence of Lactose Intolerance
Opportunities
Technological Advances in the Dairy Industry
Emerging Economies
Challenge
Rising Consumer Awareness About the Benefits of Vegan Diet
Trends
Healthy Snacking
Pricing Analysis
Milk Powder
Whole Milk Powder (WMP)
Skim Milk Powder (SMP)
Fat Filled Milk Powder (FFMP)
Whey Protein
Whey Protein Isolate (WPI)
Whey Protein Concentrate (WPC)
Whey Protein Hydrolysate (WPH)
Milk Protein
Milk Protein Concentrate (MPC)
Milk Protein Isolate (MPI)
Milk Protein Hydrolysates (Mph)
Casein and Caseinates
Third Generation Dairy Ingredients
Lactoferrin
Lactoperoxidase
Alpha-Lactalbumin
Lactose
Lactose Derivatives
Galactose
Lactulose
Lactitol
Lactosucrose
Other Lactose Derivatives
Butter Milk Powder
Whey Permeate
For more information about this report visit https://www.researchandmarkets.com/r/z0qn49
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