The global dairy ingredients market is estimated to be valued at USD 53.8 billion in 2019 and is projected to reach USD 81.4 billion by 2025, recording a CAGR of 7.1%. The market is driven by various factors such as an increase in the awareness among consumers regarding healthy food and change in the lifestyle and increase in disposable income, which has enabled them to invest in health and health-related services and products.
The demand for dairy ingredients is high in the Asia Pacific region, especially in countries such as China and India. With the economy on the rise, the living standards of consumers in these countries are improving, which has enabled the purchase of functional and fortified foods. Milk production in the region has been high across the globe, despite the limited processing of milk to dairy ingredients in the region. The inclination toward healthy food has created the demand for the dairy ingredients in the region.
Established players are looking to tap the potential of emerging markets in the region. An increase in the millennial population in countries, such as India, has further driven the market for whey-based protein shakes and drinks, thereby increasing the demand for ingredients, such as whey isolates, whey concentrates, and milk powder. The aging population in countries such as China and Japan are investing in functional foods and beverages. The rise in the stress level and busy lifestyles among people has also increased the demand for ready-to-eat functional food and beverages. Thus, the demand for healthy snacks and drinks based on dairy ingredients, such as protein, has been further boosting the growth potential of the market.
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Dairy ingredients are used in various applications due to their versatile properties, such as emulsification and heat stability.
They are also known to provide various characteristics, such as flavor, texture, and color to food and beverage products. Dairy ingredients are used in dips and ice creams to provide a rich texture and also used as browning agents in the bakery industry.
The milk powder segment is estimated to witness the largest growth in the dairy ingredients market, in terms of value, in 2019
The rise in health awareness among consumers has resulted in the high demand for low-fat and healthy food and beverage options. Milk powder, being one of the main ingredients in such food recipes, translates a high growth potential for the dairy ingredients market. Dairy ingredients, as a substitute to milk, provide richness to food products and has a longer shelf life than milk. Thus, food manufacturers prefer dairy ingredients over conventional dairy products.
The demand for functional foods has created opportunities for dairy ingredient manufacturers in the emerging markets
The Asia Pacific region is the dominant market for dairy ingredients and is expected to experience the fastest growth among all the regions. Rise in health awareness has pushed the market for functional and fortified foods, which is creating the demand for dairy ingredients. Manufacturers have been using dairy ingredients since they are known to have versatile functional and nutritional properties such as providing richness, texture, flavor, and color to food products. Ingredients, such as milk powder, are being used in infant formulas and sports drinks. As the millennial population in the region is large, the demands for such food and beverages is high.
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This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies operating in the dairy ingredients market. It includes the profiles of leading companies such as FrieslandCampina (The Netherlands), Groupe Lactalis (France), Arla Foods (Denmark), Saputo (Canada), Fonterra Co-operative Group (New Zealand), Dairy Farmers of America (US), Kerry Group (Ireland), Ornua (Ireland), AMCO Proteins (US), Prolactal (Austria), Valio (Finland), Glanbia (Ireland), Hoogwegt Group (The Netherlands), Batory Foods (USA), Ingredia SA (France), Agropur (Canada), and Euroserum (France).
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