Dairy Ingredients Market Emerging Trends and Developments

The dairy ingredients market size was estimated to account for a value of USD 63.6 billion in 2021 and is projected to grow at a CAGR of 7.2% from 2021, to reach a value of USD 89.9 billion by 2026. The growth of this market can be attributed to the growing protein demand from consumers, they prefer products with dairy ingredients as a source of protein. The market growth in APAC can be attributed to the increasing awareness of health and wellness among the consumers. The continual investment in technological advancement is influencing growth, thereby increasing the sales of dairy ingredients in the near future.

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By livestock, the cows segment is projected to dominate the dairy ingredients market during the forecast period.

Based on livestock, the cow's segment is projected to account for a larger share in the dairy ingredients market. This growth is due to the large population of cows globally, leading to high milk production. The other livestock-based dairy ingredients are highly region-specific; hence, the market is limited globally. The extraction of dairy ingredients from cow milk is comparatively easy and cheap than other sources.

By application, the bakery & confectionery segment is projected to dominate the dairy ingredients market during the forecast period.

Based on applications, the bakery & confectionery segment accounted for the largest share in 2021 due to the multiple applications of dairy ingredients in the bakery industry. Non-fat dried milk and skim milk powder are popular substitutes for fresh fluid milk in the bakery and confectionery sector. Dairy ingredients are also used as claims on packaging to valorize baked goods better. Whey protein ingredients cater to delivering functionality and performance. Since fitness has become the new trend dairy formulations, mostly whey protein are gaining popularity among the younger generation.

The increasing demand for dairy ingredients in Asia Pacific is driving the growth of the dairy ingredients market.

The global dairy ingredients market is dominated by Asia Pacific, which accounted for the largest share. Nowadays, a sedentary lifestyle and a hectic daily routine run parallel to the consumer focus on health, resulting in an extreme workout and heightened dependence on protein supplements. Dairy protein ingredients are being consumed for weight loss and muscle gain and provide maximum nutrition and nourishment. Veganism has captured a large section of the market in Europe and the US; however, dairy being a staple in India, retains its position as the major protein supplement. Globally, whey is being incorporated in the regular diet as natural bioactive substances have a positive influence on an individual's health.

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The key players in this market include FrieslandCampina (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 (Netherlands), Batory Foods (US), Ingredia SA (France), Agropur (Quebec), and Euroserum (France).

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