REDDING, Calif., Aug. 12, 2024 /PRNewswire/ -- According to a new market research report titled, 'Dairy Ingredients Market Size, Share, Forecast, & Trends Analysis by Source (Milk, Whey), Type (Milk Powder, Whey Protein, Milk Protein, Lactose, Buttermilk Powder, Whey Permeate), Application (Food {Dairy Products}, Beverages)- Global Forecast to 2031,' the dairy ingredients market is expected to reach $93.22 billion by 2031, at a CAGR of 4.9% from 2024 to 2031.
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The dairy ingredients market is experiencing growth due to growing consumer awareness of nutritious meals, rising health and wellness trends, improvements in supply chain management, growing industrial acceptance of dairy components, and rising milk production. The growing prevalence of lactose intolerance and the need for plant-based dairy substitutes are anticipated to partially impede market growth.
Additionally, growing economies and the dairy industry's technical advancements are projected to open up new market opportunities for players operating in this market. On the other hand, growing consumer knowledge of the advantages of a vegan diet presents a significant challenge to market stakeholders. Furthermore, healthy snacking is a prominent trend in the dairy ingredients market.
Dairy ingredients are produced to enhance the nutritional content of finished products. They are primarily derived from milk and whey. Due to their high nutritional value and several related advantages, dairy components are widely employed in food, beverages, nutritional health supplements, animal feed, and a variety of other uses. A broad range of dairy ingredients, including buttermilk powder, whey permeates, casein and caseinates, lactose, lactose derivatives, and third-generation dairy ingredients, are available in the market to meet the various demands of the contemporary food processing and manufacturing sectors.
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The dairy ingredients market is segmented by source (milk, whey), type (milk powder {whole milk powder, skim milk powder, fat-filled milk powder}, whey protein {whey protein concentrate, whey protein isolate, whey protein hydrolysate}, milk protein {milk protein concentrate, milk protein isolate, milk protein hydrolysate}, casein and caseinates, third-generation dairy ingredients {lactoferrin, lactorperoxidase, alpha-lactaalbumin}, lactose, lactose derivatives {lactulose, galactose, lactitol, lactosucrose, other lactose derivatives}, buttermilk powder, whey permeate), application (food {dairy products, bakery & confectionery, infant food, other food applications}, beverages {energy drinks, sports drinks, dairy-based beverages, other beverages}, nutritional health supplements, animal feed, other applications), and geography (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa).
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 dairy ingredients market has witnessed several partnerships, agreements, collaborations, mergers, and acquisitions in recent years. The key players operating in the dairy ingredients market are 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), and Prolactal GmbH (Austria).
Key Findings in the Dairy Ingredients Market Study:
On the basis of source, in 2024, the milk category is expected to command the major share of 78.9% of the dairy ingredients market. However, the whey segment is expected to record the highest CAGR during the forecast period. The growing utilization of whey in functional foods, beverages, sports nutrition products, and nutritional supplements, along with developments in dairy processing technology, is contributing to the growth of this segment.
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On the basis of type, in 2024, the milk powder category is expected to command the major share of 65.5% of the dairy ingredients market. The milk powder category's substantial market share is due to its extended shelf life, various nutritional benefits, wide range of applications, and lower transportation and storage costs. However, the milk protein segment is estimated to register the highest CAGR during the forecast period, owing to its increasing use in dietary supplements and sports nutrition. This is due to its high protein content and several beneficial properties.
On the basis of application, in 2024, the food category is expected to command the major share of 37.3% of the dairy ingredients market. However, the nutritional health supplements segment is poised to register the highest CAGR during the forecast period. This growth is attributed to the rising awareness of health and well-being, growing acceptance of the nutritional and functional advantages of dairy components in health products, and innovative product manufacturing in the health supplement industry.
On the basis of geography, the dairy ingredients market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, APAC is expected to account for the largest share of 36.9% of the dairy ingredients market. This regional market is estimated to be worth USD 24.66 billion in 2024. Moreover, Asia-Pacific is expected to register the highest CAGR of 5.3% during the forecast period, mainly due to the growing number of infants and rising demand for organic dairy derivatives.
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Scope of the Report:
Dairy Ingredients Market Assessment-by Source
- Milk
- Whey
Dairy Ingredients Market Assessment-by Type
- Milk Powder
- Whole Milk Powder
- Skim milk powder
- Fat Filled Milk Powder
- Whey Protein
- Whey Protein Concentrate
- Whey Protein Isolate
- Whey Protein Hydrolysate
- Milk Protein
- Milk Protein Concentrate
- Milk Protein Isolate
- Milk Protein Hydrolysates
- Casein and Caseinates
- Third-generation Dairy Ingredients
- Lactoferrin
- Lactoperoxidase
- Alpha-lactalbumin
- Lactose
- Lactose Derivatives
- Galactose
- Lactulose
- Lactitol
- Lactosucrose
- Other Lactose Derivates
- Buttermilk Powder
- Whey Permeate
Dairy Ingredients Market Assessment-by Application
- Food
- Bakery & Confectionery
- Dairy Products
- Infant Food
- Other Food Applications
- Beverages
- Energy Drinks
- Sports Drinks
- Dairy-based Beverages
- Other Beverage Applications
- Nutritional Health Supplements
- Animal Feed
- Other Applications
Dairy Ingredients Market Assessment-by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- Russia
- U.K.
- Spain
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Thailand
- New Zealand
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East and Africa
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