Dairy Ingredients Market Size Share Growth Trends and Forecast Analysis

The Dairy Ingredients Market was valued at US$ 85,684.15 million in 2021 and is projected to reach US$ 105,295.16 million by 2028. It is expected to grow at a CAGR of 3.0% from 2021 to 2028.

Dairy components are commonly employed in different food items and drinks, like bakery items, frozen treats, confectioneries, dairy products, tea, coffee, and infant food, to act as stabilizers, thickening agents, and setting agents. They contain considerable amounts of protein, such as whey proteins and casein, which are significant protein sources. Dairy ingredients enhance the functionality of food and beverages and are also widely utilized in producing protein supplements that are popular among health-conscious consumers, fitness enthusiasts, and athletes.

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The List of Companies -
1. FrieslandCampina Ingredient.
2. Fonterra Co-operative Group Limited
3. Arla Foods Ingredients Group P/S
4. Lactalis Ingredients
5. AGROPUR
6. Saputo Inc.
7. Kerry Group
8. AMCO Proteins
9. PROLACTAL
10. Glanbia Ireland

Based on the application, the dairy ingredients market is segmented into food & beverage, personal care, and pharmaceuticals & nutraceutical. In 2020, the food and beverage sector had a larger market share, and it is experiencing rapid growth. The increasing demand for processed food and drinks is fueled by factors such as high per capita income, evolving dietary habits, and improved lifestyles. Nonetheless, due to the growing preference for convenient food items, consumers are increasingly seeking healthier options that provide functional benefits. Consequently, this trend is expected to drive the demand for dairy ingredients across the food and beverage industry.

The dairy ingredients market is categorized by region, including North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SAM). In 2020, Asia-Pacific had the most significant global dairy ingredients market share. The Middle East and Africa are anticipated to grow fastest during the forecast period. The Food and Agriculture Organization (FAO) reports that Asia produced 379 million tonnes of milk in 2020. China and India are the most prominent dairy product manufacturers in Asia-Pacific. The Asia-Pacific market's demand for dairy ingredients is increasing due to the economic growth of various countries, greater milk production, expansion of supply chain facilities, and strong government support to promote the dairy industry.

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Impact of COVID-19 Pandemic on Dairy Ingredients Market

The COVID-19 pandemic has had an negative impact on several industries, including the food and beverage industry, which has faced operational challenges due to supply chain disruptions, labor shortages, and raw material scarcities. Additionally, manufacturers experienced a shortage of product supply as a result of lockdowns and border restrictions, resulting in reduced profitability. However, with the relaxation of restrictions and increasing vaccination rates introduced by several governments worldwide, the dairy ingredients market is expected to recover gradually. Furthermore, the COVID-19 outbreak has heightened health consciousness among individuals, leading to a preference for healthy food and beverages with functional benefits. As people focus on their fitness, there has been a significant increase in dietary supplements, including protein supplements. These factors have had a positive impact on the growth of the global dairy ingredients market.

Dairy ingredients are derived from milk through various processing techniques. These ingredients typically comprise milk powder, proteins, milk fat concentrates, and lactose and its derivatives. Dairy ingredients are utilized to augment the nutritional value of food and beverages and are the most economical and easily accessible sources of protein. They are frequently added to food and beverages to enhance their nutritional content, and due to their superior nutritional properties, they are commonly employed in baby foods, sports nutrition products, and dietary supplements.

Based on the product type, the dairy ingredients market is segmented into milk powder, protein, milk fat concentrates, lactose & lactose derivatives, and others. During the projected period, the protein category is anticipated to experience significant expansion. The primary proteins found in milk are casein and whey protein, with casein accounting for approximately 80% (29.5 g/L) of the total protein in bovine milk and whey protein accounting for approximately 20% (6.3 g/L). Milk proteins are widely used in protein supplements, baby food products, and sports nutrition products. Additionally, they are used to fortify protein in functional foods and beverages. Milk proteins are a readily available and affordable source of animal protein and a significant source of essential amino acids, which are critical in increasing muscle strength. The increasing importance of dairy proteins among fitness enthusiasts, bodybuilders, and athletes is expected to further stimulate the growth of this segment during the forecast period.

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TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to Substitute
4.2.4 Threat to New Entrants
4.2.5 Competitive Rivalry
4.3 Expert Opinion
4.4. Value Chain Analysis
5. Key Market Dynamics
Continued…

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