Milk Protein Market Insights
Market Research future estimated that the global Milk Protein Market would witness exponential growth during the forecast period, 2016-2022. The milk proteins demand owing to high occurrence of lactose intolerance is likely to aid the market growth. Moreover, the enhanced shelf-life and eradication of sandiness in these products is expected to augur the Milk Protein Market growth. Introduction of new flavors to lure consumers has been a customer-centric strategy that majorly accounts for the rise in demand for milk protein products.
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Consumers are highly engaged in functional foods and wellbeing activities, progressively demanding products that are natural, organic, green, and free from additives. Changing development and industry patterns, improvement in value chain and expansion of dairy companies into new markets are some of the drivers of the global milk protein market. Vertical Integration and consolidation led by big farmers are making the global market more competitive.
Heavy penetration of internet and mobile devices is helping the companies to generate high-quality data affiliated to consumer behavior and lifestyle. Access to unprecedented data of potential consumers sources might create lucrative opportunities for global milk protein key players.
Consumption of protein has been sluggish in the developed market, while on the other hand, the trend appears to be reversed in emerging ones; developing markets are rapidly growing. Factors such as rapid urbanization and rising income levels also play a crucial role in increasing the statistics for the global milk protein market.
The major players contributing with their superior and protein-rich food include Fonterra Co-operative Group Limited, Kerry Group, Arla Foods, Ganbia plc, AMCO Proteins, Hevero Hoogwegt, Groupe Lactalis, and FrieslandCampina.
In September 2019, Idaho Dairy Farm has revealed $30 million worth expansion since its establishment. The company has increased its processing capacity from 3.3 million pounds to 4.4 million pounds. Idaho majorly deals in three dairy products: milk protein concentrate, cream, and milk permeate. Its milk protein concentrates which is in powder form is largely sed protein shakes and bars. The company projects a long-term success in the coming future.
The global Milk Protein Market is segmented based on form, source, nutritional profile, and distribution channel.
Based on the form, the global Milk Protein Market is divided into liquid, bars, and powder.
The global Milk Protein Market is bifurcated into buffalo, cow, goat, and others; based on sources.
The global Milk Protein Market is also diversified on the basis of the nutritional profile into low-fat, low-calorie, gluten-free, low-sugar, high-protein, lactose-free, and others
The distribution channel segment of the global milk protein is classified as supermarkets, retailers, e-commerce, convenience stores, and hypermarket. Due to model shift in distribution channels in terms restructuring, the retail industry is evolving swiftly. The high focus of market players towards value discounting and channel fragmentation strategies are driving the growth for omnichannel retailers, which indirectly drives the growth of the global milk protein market.
Europe is predicted to lead the global Milk Protein Market over the forecast period. The foreseen growth is attributed to growing functional food consumption and veganism. Government making it obligatory to print descriptions of proteins with certification acquired by food safety organizations might help to boost the demand for milk protein. Regions such as the U.K., France, and the Middle East are witnessing flourishing growth in their trade, driving the growth of global market.
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On the other hand, the APAC region is likely to witness high growth owing to high production of such products by China, India, and New Zealand. Sustainability initiatives by various beverage manufacturers can lead to the adoption of milk protein to produce eco-friendly packaging. The high demand for full-fat milk by consumers can propel the growth of the global market. Asia is the largest consumer with growing GDP per capita which makes it a potential market for the leading giants.
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