REDDING, Calif., May 28, 2024 /PRNewswire/ -- According to a new market research report titled, 'Dairy Ingredients Market by Source (Milk, Whey), Type (Milk Powder, Whey Protein, Milk Protein), and Application (Food {Bakery, Confectionery, Infant Food}, Beverages {Energy Drinks, Sport Drinks}, Health Supplements, Animal Feed)- Global Forecast to 2031,' the dairy ingredients market is expected to reach $93.2 billion by 2031, at a CAGR of 4.9% from 2024 to 2031.
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The growth of this market is driven by the growing adoption of dairy ingredients in the food industry, increasing health and wellness trends, improvement in supply chain management, rising consumer awareness towards nutritional food, and increasing milk production. Additionally, technological developments in the dairy industry and emerging economies offer significant growth opportunities for dairy ingredient manufacturers. However, demand for plant-based non-dairy alternatives and increasing incidence of lactose intolerance restrain the market's growth.
Key Players:
The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past four years (2021-2024). The key players profiled in the dairy ingredients market are Fonterra Co-Operative Group (New Zealand), Royal Frieslandcampina N.V. (Netherland), Arla Foods Amba (Denmark), Saputo Inc. (Canada), Dairy Farmers of America, Inc. (U.S.), Sodiaal International (France), Lactalis Group (France), Agropur Cooperative (Canada), Schreiber Foods Inc. (U.S.), Savencia S.A. (France), Yili Group (China), Glanbia Plc. (Ireland), Gujrat Cooperative Milk Marketing Federation Ltd (India), Meiji Holdings Co., Ltd. (Japan), Mengniu Dairy Co., Ltd. (China), Megmilk Snow Brand Co., Ltd. (Japan), and Morinaga Milk Co., Ltd. (Japan).
The dairy ingredients market is segmented by source (milk and whey), type (milk powder {whole milk powder, skim milk powder, fat-filled milk powder}, whey protein {whey protein isolate, whey protein concentrate, whey protein hydrolysate}, milk protein {milk protein concentrate, milk protein isolate, milk protein hydrolysates}, casein and caseinates, third generation dairy ingredient {lactoferrin, lactoperoxidase, alpha lactalbumin}, lactose and derivatives, buttermilk powder, whey permeate), application (food {bakery & confectionery, dairy products, infant food, other food applications}, beverage {energy drinks, sports drinks, dairy-based beverages, other beverage applications}, nutritional health supplements, animal feed, and other applications), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
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Key Findings in the Dairy Ingredients Market Study:
Among all sources studied in the report, in 2024, the milk segment is expected to account for the largest share of the dairy ingredients market. However, the whey segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing application in sports nutrition products, functional foods, beverages, and dietary supplements and technological advancement in the dairy processing sector.
Among all types studied in the report, in 2024, the milk powder segment is expected to account for the largest share of the dairy ingredients market. The large market share of this segment is attributed to its nutritional benefits, longer shelf life, varied application areas, and reduced transportation & storage costs. However, the milk protein segment is expected to register the highest CAGR during the forecast period. Milk protein is a concentrated source of protein that is widely used in nutritious food and food fortification. This segment's rapid growth is attributed to its high protein content, versatile functional properties, and growing demand for sports nutrition and dietary supplements.
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Among all applications studied in the report, in 2024, the food segment is expected to account for the largest share of the dairy ingredients market. However, the beverage segment is expected to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the rapid growth of the fitness industry, increasing demand for energy drinks and sports drinks, and innovative product development within the beverage sector.
Among all the geographies studied in the report, the Asia-Pacific region is expected to register the highest CAGR during the forecast period due to the increasing demand for organic dairy ingredients, rising infant population, and increasing demand for western dairy products such as yogurt, fermented milk, and artisan dairy products.
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Scope of the report:
Dairy Ingredients Market-by Source
- Milk
- Whey
Dairy Ingredients Market-by Type
- 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 Ingredient
- Lactoferrin
- Lactoperoxidase
- Alpha Lactalbumin
- Lactose and Derivatives
- Butter Milk Powder
- Whey Permeate
Dairy Ingredients Market-by Application
- Food
- Bakery & Confectionery
- Dairy Products
- Infant Food
- Other Food Applications
- Beverage
- Energy Drinks
- Sports Drinks
- Dairy-based Beverages
- Other Beverage Applications
- Nutritional Health Supplements
- Animal Feed
- Other Applications
Dairy Ingredients Market-by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- New Zealand
- Thailand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
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