Chicago, July 19, 2022 (GLOBE NEWSWIRE) -- The global Dairy Ingredients Market is estimated to be valued at USD 63.6 billion in 2021 and is projected to reach a value of USD 89.9 billion by 2026, growing at a CAGR of 7.2% during the forecast period. Healthy eating habits coupled with growing consumption of functional foods among global consumers have been driving the global dairy ingredients market. Furthermore, growing adoption of vegetarian diets, as dairy is the key source of protein of vegetarian consumers is also projected to upscale the demand for dairy ingredients during the forecasted period.
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Multiple applications of milk powder in food, beverages, confectionery, and bakery to drive dairy ingredients market growth
Increasing significance of blended food, specifically in malnourished population has increased the consumption of milk-powder across the globe. Furthermore, growing demand for nutrition-infused milk powders as it is a source of protein, vitamin A, vitamin D, and calcium, therefore, it has been widely used by health-conscious consumers in various recipes who require additional source of nutrition for their wellbeing. Increasing demand for dietary supplements, as well as kids supplement along with high demand from hotels, restaurants, and cafes is expected to propel the dairy ingredients market growth in the upcoming years.
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By form, the dry segment forecasted to hold the largest market share in the dairy ingredients market in 2021
Dry form of dairy ingredients is considered as convenient as compared to other forms of dairy as it can be easily reconstituted and is does not need refrigeration. The easy to transport and storage functionality of dry dairy ingredients to drive this segment. Moreover, high demand for whey protein concentrates from fitness and sport industry is also anticipated to strengthen this segment, thereby, expected to increase dairy ingredients market growth in the upcoming years.
The market for cows, by livestock, is estimated to dominate the dairy ingredients market
Cow’s milk is considered to have high nutritional value and health benefits; therefore, cow farming is widely practiced across the globe. Moreover, manufacturers incorporate ingredients such as A2 beta-casein protein in their infant formulas. For instance, in March 2022, Bubs Australia launched infant formula enriched with natural A2 beta-casein protein. Apart from this, other livestock animals such as goat, buffalo, and camel have high maintenance cost and provides lower production than cows. The ease of extracting dairy ingredients from cow’s milk is driving the growth of this segment.
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Increasing population in developing economies such as China and India have generated created opportunities in dairy ingredients market
The Asia Pacific region is expected to grow rapidly in the dairy ingredients market. For instance, China's raw milk production to obtain 36 million metric tons (MMT) in 2022, according to the report published by Global Agricultural Information Network report from the US Department of Agriculture's Foreign Agricultural Service. Furthermore, the report suggests the 4.5% rise over 2021 is mainly because of due bigger dairy herd and enhanced efficacy. Technological adoption such as food fortification by Asian manufacturers to support functional food segment growth, thereby increasing dairy ingredients market growth.
This report includes a study on the marketing and development strategies, along with the product portfolios of the prominent companies operating in the dairy ingredients market. It includes the detailed profiles, strategies opted for dairy ingredients market of leading companies such as Groupe Lactalis (France), Arla Foods (Denmark), Batory Foods (USA), AMCO Proteins (US), Fonterra Co-operative Group (New Zealand), FrieslandCampina (The Netherlands), Dairy Farmers of America (US), Kerry Group (Ireland), Ornua (Ireland), Prolactal (Austria), Saputo (Canada), Valio (Finland), Ingredia SA (France), Glanbia (Ireland), Hoogwegt Group (The Netherlands), Euroserum (France), and Agropur (Canada).
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July 19, 2022 at 04:17PM
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Dairy Ingredients Market is Projected to Reach USD 89.9 Billion by 2026 - GlobeNewswire
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