Modified Milk Ingredients Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Modified Milk Ingredients Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The modified milk ingredients market size has grown strongly in recent years. It will grow from $107.97 billion in 2023 to $116.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased demand for organic dairy products, rising milk solids production, increased health consciousness and fitness freaks, increasing demand for health-promoting products, increased exports of modified milk ingredients.

The modified milk ingredients market size is expected to see strong growth in the next few years. It will grow to $158.23 billion in 2028 at a compound annual growth rate (CAGR) of 8%. The growth in the forecast period can be attributed to rising popularity of flavoured beverages, rising demand for functional foods and drinks and protein supplements, increasing use of milk ingredients, increasing use of milk ingredients, increasing demand for health-promoting products. Major trends in the forecast period include innovations, technological advancements, new technologies to manufacture milk ingredients, flavor innovations, technologies

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Market Drivers and Trends:

The rising demand for dairy products is expected to propel the growth of the modified milk ingredients market going forward. The demand for dairy products is attributed to their rich nutritional content, including essential proteins, vitamins, and minerals, as well as the growing consumer focus on health and wellness. Modified milk ingredients help the dairy industry by enhancing dairy products' functionality, texture, and nutritional value, allowing manufacturers to meet diverse consumer needs and innovate with new formulations. For instance, in November 2023, the United States Department of Agriculture (USDA) projected that Australia's milk production would rise by 0.6% in 2024, reaching 8.50 million metric tons (MMT), following stabilization in 2023 at an estimated 8.45 MMT after years of decline. Therefore, the rising demand for dairy products is driving the growth of the modified milk ingredients market.

Major companies operating in the modified milk ingredients market are developing innovative products with reduced lactose to cater to the growing demand for lactose-free and low-lactose food options. Reduced-lactose milk products allow individuals with lactose intolerance to enjoy the nutritional advantages of dairy without digestive issues. For instance, in November 2023, Nestlé, a Switzerland-based company, launched N3 milk with additional dietary benefits in China. The technology used in its production reduces lactose by up to 80% while converting it into beneficial prebiotic fibers. N3 milk retains essential nutrients found in regular milk, including proteins, vitamins, and minerals. Additionally, it has over 15% fewer calories than traditional milk products.

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Major Key Players of the Market:

Nestle SA, Danone S.A., Groupe Lactalis S.A., Fonterra Co-operative Group Limited, Saputo Inc., China Mengniu Dairy Co. Ltd., Kerry Group, Savencia Fromage And Dairy, Agropur Cooperative, Glanbia plc, Emmi Group, Bel Group, Royal A-ware, Vinamilk, Leprino Foods, Arla Foods Group, Schreiber Foods, Valio Ltd., First Milk Ltd., Amul, Royal FrieslandCampina N.V.

Modified Milk Ingredients Market 2024 Key Insights:

• The modified milk ingredients market size is expected to see strong growth in the next few years. It will grow to $158.23 billion in 2028 at a compound annual growth rate (CAGR) of 8%.
• Rising Demand for Dairy Products Fuels Growth in the Modified Milk Ingredients Market
• Innovative Lactose-Reduced Milk Products
• Asia-Pacific was the largest region in the modified milk ingredients market in 2023, and is expected to be the fastest-growing region in the forecast period

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