The scope of our recent study on the "Caseinates Market Forecast to 2031 - Global Analysis - by Product Type, Application, and Geography" includes the factors fueling the caseinates market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The caseinates market size is projected to reach US$ 2.36 billion in 2023 to US$ 3.84 billion by 2031; it is estimated to register a CAGR of 6.3% from 2023 to 2031.
Caseinates are dairy proteins rich in essential amino acids and considered high-quality proteins that can help build and repair muscles, support immune function, and improve overall health. Dairy proteins such as caseinates are the building blocks of skin, bones, muscles, and blood. The human body requires protein to produce enzymes, hormones, and other body chemicals. Food supplements infused with dairy protein are used on a large scale, owing to the rise in healthcare awareness among consumers. Thus, they are shifting their focus to nutritious and healthful diets and increasing their protein intake by consuming dietary supplements made from dairy protein. The increasing elderly population boosts the demand for food supplements infused with dairy protein due to its balanced composition of essential amino acids.
In recent years, consumers have become highly conscious of their health and fitness due to the growing prevalence of various diseases, including cardiovascular disorders, and several medical conditions such as high blood pressure, diabetes, obesity, and high cholesterol. As a result, the popularity of dietary supplements is rising across the world. In 2022, Ipsos European Public Affairs conducted a survey on behalf of Food Supplements Europe in 14 EU member states. They discovered that almost 9 in 10 European consumers had taken food supplements in their lives, and nearly all of them had consumed supplements in the past 12 months. Thus, the growing demand for dietary supplements propels the requirement for caseinate.
Caseinates are extensively used in manufacturing protein supplements. They are considered one of the major sources of essential amino acids that improve muscle strength and are beneficial for preventing age-related muscle loss. The growing demand for protein supplements from fitness enthusiasts and sportspersons, as well as the aging population, drives the demand for caseinates among supplement manufacturers. Thus, the rising demand for dairy protein in food supplements propels the caseinates market growth
The vegan population has grown significantly over the past few years. According to Veganuary (a nonprofit organization that encourages individuals worldwide to become vegan for the entire month of January), in 2022, more than 620,000 people registered for the Veganuary campaign, and the registrations increased by 200% in the last three years. Thus, the demand for dairy alternatives and plant-based products has surged with the growing vegan population.
Manufacturers are offering plant-based dairy products such as cheese, yogurt, and creams. However, the lack of dairy casein in the product lacks certain aspects, such as stretchiness and reliability. Thus, ingredient manufacturers are now developing plant-based casein to meet the requirements. For instance, in September 2023, US-based biotech company "Pureture" launched a plant-based casein that can be used for cheese and other dairy products. The researchers from Pureture used proprietary technology and yeast-based, fully plant-based resources that provide comparable functionality to milk and enhanced nutrition and taste. New Culture, another US-based alternative protein company, created a vegan or plant-based version of casein using precision fermentation technology, which it uses to create vegan cheese that tastes like dairy casein.
Europe accounted for a remarkable share of the caseinates market in 2023. The Germany and France are the largest markets for caseinates in Europe. the increasing adoption of dietary supplements due to rising health awareness and the desire to pursue a more active and healthier lifestyle boosts the demand for caseinates, as caseinate results in a prolonged release of amino acids, leading to optimum muscle growth and recovery. According to the German Federal Institute for Risk Assessment (BfR), almost one in three Germans currently take pills, powder, and capsules that help nourish their health. In addition, a growing number of individuals (especially millennials) are seeking more personalized health solutions and dietary supplements. Thus, the high demand for dietary supplements and functional food and beverages is driving the market for caseinates in the country.
The market growth for caseinates in France is attributed to the increasing use of caseinates as an ingredient in protein-rich foods and beverages. High-quality caseinate proteins are obtained from milk. They have a variety of functional qualities, including thickening, emulsification, and gelling, making them valuable components in the food & beverages industry. Food manufacturers mainly use caseinates, as they are the complete proteins and improve the mouthfeel, texture, and color of end products. Consumers concerned about the harmful effects of carbonated beverages are turning toward protein-fortified drinks, which is boosting the demand for caseinate in the food & beverages sector.
Based on application, the beverages sugar segment is projected to register the fastest CAGR from 2023 to 2031. In beverages such as ready-to-drink (RTD) protein shakes and nutritional and sports drinks, caseinates increase the protein profile of drinks and act as a stabilizer, emulsifier, and texture enhancer. It increases the viscosity of beverages, which provides a desirable mouthfeel to the product. Caseinates are neutral in flavor, making them versatile ingredients that support different flavor profiles in beverages. Also, the excellent heat stability of caseinates allows the formulation of heat-stable RTD beverages. Caseinates minimize the browning caused by phenolic oxides and the off flavor of bitter compounds in wines, meads, and fruit juices. The increasing demand for RTD beverages, protein drinks, and fortified fruit juices due to rising health awareness propels the requirement for caseinates in the beverages sector.
Asia Pacific is expected to register the fastest CAGR in the global caseinates market from 2023 to 2031. In Asia Pacific, the caseinates market is consistently growing with increasing demand for functional food & beverages. The rise in health awareness has pushed the market for functional and fortified foods, creating the demand for caseinates. Manufacturers have been using caseinates as they have versatile functional and nutritional properties, such as providing richness, texture, flavor, and color to food products. Growing consumer preference for dairy products, including milk, cheese, yogurt, and butter, is a primary driver of the caseinates market as it is considered an essential ingredient in the products. Moreover, the demand for dairy ingredients, including caseinate, is rising due to the accelerated economic growth of many countries in this region, increased demand and production of dairy products, and strong support from the government to promote the dairy sector. Also, the presence of key dairy manufacturers in the region further supports the growth of the caseinates market in the region.
Global Caseinates Market Breakdown - by Region
The report includes the segmentation of the global caseinates market as follows:
The global caseinates market is segmented based on product type and application. In terms of product type, the market is segmented into sodium caseinate, calcium caseinate, potassium caseinate, and others. Based on application, the market is segmented into bakery and confectionery; dairy and frozen desserts; beverages; soups, sauces, and condiments; infant formula; dietary supplements; and others.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The caseinates market in Europe is sub-segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Asia Pacific caseinates market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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