Dairy Ingredients Market is Projected to Reach $89.9 billion by 2026

The global dairy ingredients market is estimated to be valued at USD 63.6 billion in 2021 and is projected to reach a value of USD 89.9 billion by 2026, growing at a CAGR of 7.2% during the forecast period. Rise in consumption of ready-to-eat and functional foods, complemented by the versatile application of dairy ingredients, and increased consumer awareness on healthy eating among consumers, have been driving the global dairy ingredients market.

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The milk powder segment is estimated to witness the largest growth in the dairy ingredients market, in terms of value, in 2021.

Milk powder, proteins, milk fat concentrates, lactose & its derivatives, and other types (milk and whey peptides, dairy protein fractions, other proteins, and colostrum) are some of the most common types of dairy ingredients. Among these types, the milk powder segment accounted for the largest share in 2021 since milk powder is a direct substitute for fluid milk; hence, used in varied applications, including bakery, dairy, and infant nutrition. Skimmed milk powder forms the core of the Hotel Restaurant Catering (HoReCa) industry. As an after-effect of COVID-19 lockdown, an evident dip in sales and stockpiling of unsold milk powder has been plaguing the dairy industry.

The dry form segment is estimated to account for a larger market share among the different forms of the dairy ingredients, in terms of value, in 2021.

Dry dairy ingredients are manufactured from either milk or whey. Milk-based dairy ingredients include milk powder, casein, caseinates, and milk protein concentrates, while lactose and its derivatives, whey protein concentrates, and whey protein isolates are derived from whey. Milk ingredients are loaded with essential nutrients (amino acids and minerals) in a dry form that is easily absorbed by the body. They are used in various dietary and therapeutic contexts, such as low-calorie food, sports nutrition, and infant formula. Milk powder is used mainly in chocolate products, bread, buns, pastries, and sweets. Skimmed milk powder is used mainly in dairy products containing reconstituted milk (yogurt, milk-based desserts, and ice creams), chocolate products, baby milk formula, and animal feed. The transportation and storage costs of dry ingredients are low, which results in the reduced cost of the final products. As a result, they are highly preferred by manufacturers. Also, they are readily available in the market and are easy to use. All these properties make them a popular ingredient form.

The market for cows, m by livestock, is estimated to account for the largest market share, in 2021.

Cows are the preferred livestock as compared to all other cattle, due to the manufacturing of milk in most of the regions. This is majorly owing to its low purchase and maintenance costs. The yield of milk is higher in cows as compared to other cattle. Also, animals, such as camels and goats, have high maintenance and produce lesser yield. Many major players prefer manufacturing dairy ingredients through cow’s milk because of its vast and easy availability and easier production processes. It is easier to derive powders and other derivatives from cow’s milk than from buffaloes or goats’ milk. Milk from buffalo or goat is highly viscous, and hence, the manufacturing of dairy ingredients, such as milk powders and proteins, is difficult.

The demand for functional foods has created opportunities for dairy ingredient manufacturers in the emerging markets.

The Asia Pacific region is the dominant market for dairy ingredients and is expected to experience the fastest growth among all the regions. Rise in health awareness has pushed the market for functional and fortified foods, which is creating the demand for dairy ingredients. Manufacturers have been using dairy ingredients since they are known to have versatile functional and nutritional properties such as providing richness, texture, flavor, and color to food products. Ingredients, such as milk powder, are being used in infant formulas and sports drinks. As the millennial population in the region is large, the demands for such food and beverages is also rising.

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Leading companies are FrieslandCampina (The Netherlands), Groupe Lactalis (France), Arla Foods (Denmark), Saputo (Canada), Fonterra Co-operative Group (New Zealand), Dairy Farmers of America (US), Kerry Group (Ireland), Ornua (Ireland), AMCO Proteins (US), Prolactal (Austria), Valio (Finland), Glanbia (Ireland), Hoogwegt Group (The Netherlands), Batory Foods (USA), Ingredia SA (France), Agropur (Canada), and Euroserum (France).

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