Dairy Ingredients Market Size by Type (Proteins, Milk Powder, Milk Fat Concentrates, Lactose & Its Derivatives), Form (Powder, Liquid), Application (Bakery & Confectionery, Dairy Products, Sports Nutrition Products, Infant Formulas), Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Dairy Ingredients market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Dairy Ingredients market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the type, form, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Dairy Ingredients market are Nestle S.A., Fonterra Cooperative Group, Royal FrieslandCampina N.V., Arla Foods, Lactalis Group, Dairy Farmers of America Inc., Agropur Cooperative, Schreiber Foods Inc., Gujarat Cooperative Milk Marketing Federation Ltd. (AMUL), and Meiji Holdings Co., Ltd. among others. To achieve a substantial market share in the worldwide Dairy Ingredients market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Nestle S.A. is one of the most significant manufacturers and distributors present in the global dairy ingredients market.
Dairy ingredients comprises of components that are obtained from milk. These ingredients are rich source of proteins, minerals & vitamins, amino acids, carbohydrates, and probiotics. Various food and beverages products including spice blends, bakery products, dairy products, desserts, and dry baking mixes makes use of dairy ingredients. They provides nutritional and health benefits, along with an enhanced flavor and unique texture. Due to their benefits, dairy ingredients are considered extremely valuable in food & beverages sector due to their multi-functionality.
In recent times, ready-to-eat meals have become a significantly convenient option for those who cannot afford to spend a time in the kitchen cooking. Such meals comprise of pre-packaged dishes, available at fast-food restaurants and grocery stores. According to the National Center for Biotechnology Information, a part of the United States National Library of Medicine, about 97% consumers in Luxembourger reported consumption of ready-to-eat food on a daily basis. Such food products are one of the major applications of milk ingredients due to need for heavy presence of protein, fat, saturated fatty acids, and sodium.
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Scope of Dairy Ingredients Market Report
|
Report Metric |
Information |
|
Study Period |
2021-2029 |
|
Base Year |
2021 |
|
Forecast Period |
2022-2029 |
|
Market Share Unit |
USD Billion |
|
Segments Covered |
Type, form, and application |
|
Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
|
Major Players |
Nestle S.A., Fonterra Cooperative Group, Royal FrieslandCampina N.V., Arla Foods, Lactalis Group, Dairy Farmers of America Inc., Agropur Cooperative, Schreiber Foods Inc., Gujarat Cooperative Milk Marketing Federation Ltd. (AMUL), and Meiji Holdings Co., Ltd. among others |
Segmentation Analysis
Lactose & its derivatives segment is expected to be the fastest growing segment in 2021.
The type segment includes proteins, milk powder, milk fat concentrates, and lactose & its derivatives. Lactose & its derivatives segment is expected to witness highest growth rate during the forecast period. Rising demand for lactose & its derivatives as an important ingredient in food and pharmaceutical industries has mainly boosted growth of this segment. In addition, there is increasing adoption of lactose and derivatives as an ingredient in various infant products and confectionaries.
Bakery & confectionery segment is expected to be the fastest growing segment in 2021.
The application segment includes bakery & confectionery, dairy products, sports nutrition products, and infant formulas. Bakery & confectionery segment is expected to witness highest growth rate during the forecast period. An increasing demand for convenience food as well as consumer preference for tastier, attractive, & textured delicacies has led to the increased consumption of bakery & confectionery products. In addition, such products are easily accessible with lower price and enhanced nutrition. Moreover, significant rising population of lower and middle income groups across developing countries is projected to boost consumption of confectionery and bakery products. This has driven growth of the global bakery & confectionery segment.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Dairy Ingredients include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
Asia-Pacific region witnessed a major share. Surge in consumer awareness about healthy food, increasing demand for infant food products, and huge consumption of customized bakery ingredients products such as cakes & pastries, dairy products, and cookies fuels growth of the Asia-Pacific dairy ingredients market. However, North America is expected to witness considerable growth rate during the forecast period. Flourishing dairy products industry and rise in demand for healthy, ready-to-eat and convenient food products has boosted growth of the market in this region.
Country Analysis
Germany
Germany Dairy Ingredients market size was valued at USD 5.61 billion in 2021 and is expected to reach USD 9.52 billion by 2029, at a CAGR of 7.1% from 2022 to 2029. In the Europe region, Germany is one of the leading shareholders in the dairy ingredients market. In addition, the country is largest EU milk producer - with an output of over 32 million tons of cows' milk in 2020. Moreover, the huge spending power of the population in this country has been a major contributor to the market growth.
Furthermore, the bakery & confectionery industry manufacturers in this country are responsible for creation of some of the most widely known bakery products. Moreover, increased consumer awareness about baking ingredients and mounting chocolate consumption among teenager population in this country has driven demand for dairy ingredients.
China
China Dairy Ingredients market size was valued at USD 12.60 billion in 2021 and is expected to reach USD 20.30 billion by 2029, at a CAGR of 6.4% from 2022 to 2029. The factors such as rising population along with the increased disposable income has driven growth of the China Dairy Ingredients market. In addition, this country is one of the leading consumer of dairy and baked products. This has significantly boosted growth of dairy ingredients sector in the country.
Moreover, according to The United States Department of Agriculture (USDA), China is a main cow milk producer wordlwide, with production of about 31 million metric tonnes of milk in 2019. This milk production was anticipated by USDA to increase by 4.5% to 34.5 MMT in 2021. This significance of milk production in the country is opportunistic for growth of the dairy ingredients market.
India
India Dairy Ingredients market size was valued at USD 4.41 billion in 2021 and is expected to reach USD 7.56 billion by 2029, at a CAGR of 7.2% from 2022 to 2029. India is one of the highest growing economies in Asia. Increasing population, rising middle class population, ongoing upsurge in awareness about healthy foods, and huge milk production in the country is driving growth of the Dairy Ingredients market. In addition, the country is seeing upsurge in biscuits, cakes, and other fast-moving consumer goods consumption which fuels demand for dairy ingredients.
Furthermore, this country has highest level of milk production as well as consumption of all countries. The country’s milk production accounts for nearly 23% of global milk production. As of 2020, about 4.2% of GDP of India was due to dairy production. Hence, growth of the Indian dairy sector is projected to create lucrative growth opportunities for the Dairy Ingredients market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as electronics, semiconductors, manufacturing, and, automobile, etc. However, several companies operating in food and beverages sectors has seen upsurge in their revenue due to significant demand for processed food during the pandemic. In addition, the pandemic has led to significant growth in consumer spending on dairy products across the developing as well as developed countries owing to increased health consciousness.
Hence, the pandemic has a moderate impact on the Dairy Ingredients market, owing to the closure of social arrangements, manufacturing facilities, and offices. However, the dairy ingredients market is projected to see considerable growth in post pandemic.
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