The scope of our recent study, titled "Dairy Ingredients Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product Type (Protein, Milk Powder, Milk Fat Concentrates, Lactose & Lactose Derivatives, and Others) and Application (Food & Beverages, Animal Feed, Pharmaceuticals & Nutraceuticals, and Personal Care)," this involves outlining the factors that are driving market growth, projecting revenue estimates and forecasts, identifying prominent market players and their noteworthy advancements, as well as delivering an analysis of market share..
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 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.
The dairy ingredients market is segmented into five main regions - North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South and Central America (SAM). In 2020, the Asia-Pacific region claimed the most substantial proportion of the worldwide dairy ingredients market, while the Middle East and Africa are projected to exhibit the fastest Compound Annual Growth Rate (CAGR) during the forecast period. The dairy sector is among the fastest expanding industries in Asia-Pacific, with India being one of the most significant dairy producers in the area. The escalating demand for dairy ingredients from the food & beverage and nutraceuticals industries is expected to foster the growth of the market.
Furthermore, the existence of abundant raw materials, inexpensive labor and manufacturing facilities, and a promising customer base are among the primary factors that provide profitable prospects for dairy ingredient manufacturers to broaden their reach in the Asia-Pacific market.
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.
The report segments the dairy ingredients market as follows:
Based on product type, the dairy ingredients market is segmented into milk powder, protein, milk fat concentrate, lactose & lactose derivatives, and others. Based on application, the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, animal feed, and personal care. Based on geography, the dairy ingredients market is segmented into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM).
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