According to the Wise Guy report, Dairy ingredients are obtained primarily from milk and whey and are used to create various kinds of products with diverse applicability. These components, for example, provide food products with health and nutritional advantages, taste, and other features. The traditional heat treatment method is used to produce dairy ingredients, followed by refrigeration and flavoring, while the modern membrane separation technique is also used for the same purpose.
Increasing people’s health issues; increasing R&D activates linked to innovative alternatives using milk products; growth in applications such as confectionery and dairy; and increasing urbanization drives market development. However, this development is impeded by the availability of milk replacements and the occurrence of lactose intolerance and milk allergies. Furthermore, increased consumption of sports nutrition goods, increased demand for tailored dairy ingredients, increased rate of development in emerging economies with a consequent rise in size and wealth of developing middle-class customers are expected to boost market growth in the forecast period.
Over the past few years, the market for dairy ingredients has witnessed significant development directly as a result of increased spending on relevant products. In addition, variables such as the scaling population of health-conscious customers, new product development, increasing retail and e-commerce markets, enhancing logistics infrastructure have driven the dairy ingredient market growth.
Dairy Ingredients Market is projected to display a robust growth represented by a CAGR of 4.37% during 2019 – 2024.
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The market for dairy products is segmented on the basis of source, process of manufacturing, product, implementation, and geography. Based on the source, it is split into components based on milk and whey. These ingredients are produced using traditional methods and membrane separation (ultrafiltration, reverse osmosis, and nanofiltration). The market is categorized as milk powder, whey products, casein & caseinate, lactose, proteins, and others (yogurt and cream) based on product. It is classified as pediatrics, sports nutrition, medical nutrition, health products, bakery, and dairy based on implementation.
Furthermore, increased consumption of sports nutrition goods, increased demand for tailored dairy ingredients, increased rate of development in emerging economies with a consequent rise in size and wealth of developing middle-class customers are expected to boost market growth in the forecast period. According to the report, Analysis is carried on the basis of Source (Whey Based and Milk Based), on the By Production Method the analysis is carried out on basis of Membrane Separation and Traditional Method), By Type (Milk Powders, Milk Proteins, Whey Ingredients, Caseins and Caseinates, Lactose and Derivatives, Others), By Application (Dairy Products, Bakery and Confectionery Products, Infant Milk Formula, Sports and Caseinates, Others).
The market can be segmented geographically as- areas of APAC, Europe North America, Europe and the Rest of the World (RoW). Asia Pacific is one of the areas with the biggest regional share in the worldwide market for dairy products. Key variables driving robust development in the Asia Pacific area include rising per capita consumer revenue supported by increased investment by relevant producers of products to tap big consumer base present in this region.
As per the industry trends, some of the main drivers in the worldwide market for dairy products are-Increasing consumer health and wellness issues, growing application industries, and expanding applicability in new studies and technologies. While options such as plant proteins and growing cases of lactose intolerance and allergies to milk are some of the obstacles to development. From the view of functional and processed food producers and distributors, the market for dairy products is a key market. Cumulative contracts and collaborations between joint ventures are anticipated to play a main role in competition and thus increase the share of important players in the industry.
Company Analysis – Fonterra Co-Operative Group Limited, Glanbia Plc., Saputo Inc., Arla Food, Dairy Farmers of America, Euroserum, Friesland Campina, Kanegrade, Volac International, Hoogwegt Group.
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