Milk Protein Market – Overview
The Global Milk Protein Market has witnessed continued growth over the last few years and is projected to grow by USD 5,039.9 Million from 2018 to 2025 at a CAGR of 6.1%. Owning to increasing health consciousness and rising consumers’ inclination towards consumption of healthy protein, the market of milk protein is growing at an incremental pace of development on the global platform. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Milk Protein Market Research Report- Forecast to 2023 that the market will demonstrate an exponential CAGR% while achieving billion dollar growth readily in the forecast period.
Escalating fitness trends among the consumers have prompted the growth of milk protein on a global platform. Additionally, the sector is driven in a major way by the increasing demand for dairy-based nutritional products from the consumers’ end. Diverse application of milk protein and wide range of product availability is projected to provide impetus to the growth of this market. Additionally, high health benefits gained out of consumption of milk protein are the major drivers supporting the development of this segment. Increasing application of milk protein in infant formula and other baby foods is also identified to be adding fuel to the growth of milk protein market.
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Incorporation of milk protein in nutritional markets including infant nutrition, sports nutrition and clinical/medical nutrition is identified to be the major drivers for the product’s high sale. A shift in lifestyle followed by increase in awareness related to merits of functional food and beverage consumption have led to consumers demanding milk protein to balance their nutritional requirements. However, presence of counterfeit products in the market are the major restraining factor to milk protein market.
Latest Industry Updates
Mar 2018 Carrington Tea Co. LLC DBA Carrington Farms announced the acquisition of whey protein brand called “tera’swhey”. The company elaborated on their strategy of expanding its organic whey protein offering to suffice the need from various industries.
Nov 2017 Arla Foods launched their range of new whey solutions to add to the RTD market. Rising health consciousness and increased demand for innovative protein products has encouraged them towards the launch of the product.
Oct 2017 Arla Foods announced the launch of Arla milk protein. The product being distributed under the brand is a fat-free milk with milk protein as its major content and contains 30% more protein than standard skimmed milk.
Oct 2017 Milk Specialties Global acquired Merrick’s Inc. milk replacer and hi fat product lines in order to cater the increasing demand for milk and milk protein products.
Global Milk Protein Market – Competitive Analysis
New players are entering into the sector in order to penetrate the global market and generate revenues out of their milk protein and milk protein based product offerings. With the changing global trend, consumers are increasingly getting inclined towards adopting healthy life-style and hence the need for nutritional supplements have increased. Established players are identified to be investing more on product launch and acquisition to strengthen their market position. The best long-term growth opportunities for this sector can be captured by ensuring ongoing product improvisations and investments in the R&D sector to obtain quality products.
The prominent players in the global Milk Protein Market include Royal FrieslandCampina N.V. (Netherlands), Fonterra Co-Operative Group Limited (New Zealand), Arla Foods amba (Denmark), AMCO Proteins (US), Saputo Inc. (Canada), Glanbia plc (Ireland), Kerry Group plc (Ireland), Havero Hoogwegt Group (Netherlands), Groupe Lactalis (France), and Theo Müller Group (Germany).
Global Milk Protein Market – Segments
The global Milk Protein Market has been divided into type, livestock, application and region.
On The Basis Of Type: Milk protein concentrate (WPC), Milk protein Isolate (WPI), hydrolyzed milk protein (HWP) and others
On The Basis Of Livestock: Cow, Buffalo, Goat, Others
On The Basis Of Application: Sport nutrition, infant formula, dairy products and others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Global Milk Protein Market – Regional Analysis
The global Milk Protein Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Milk Protein Market is highly dominated by Europe due to high consumption of milk-based protein and awareness about the merits of milk protein consumption. APAC is fastest growing region due to changing lifestyle and improved disposable income in that region. The consumption of milk protein in countries like Germany, the U.S., India and China is expected to grow even more in upcoming years.
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