Global Dairy Ingredients Market - Growth, Trend, and Forecast (2017 - 2022)
Dairy Ingredients Market
The market is projected to register a CAGR of XX% over the forecast period (2017-2022), driven by factors, such as the geriatric population, increase in health issues, and a rise in awareness regarding the benefits of nutrition-rich foods, which are anticipated to benefit the market.
Apart from enhancing food and beverages, the dairy ingredients increase the viscosity, provide emulsification, and enable fat holding & gel formation. These factors are considered important for a food developer to create desirable characteristics in foods. Dairy ingredients not only contribute to the physical and sensory qualities of baked goods, but they also provide nutrition, especially, protein and calcium. Recent advancements in the separation technology have resulted in the development of new value-added dairy ingredients, enabling on-trend innovations.
The key factors driving the global dairy ingredients market are the health & wellness concerns among consumers, growing application sectors and novel research and innovation to expand the applicability. Sedentary lifestyle, along with consumer preference for nutrient-rich diet, are projected to augment the growth of the market; the high usage of such diets among sports players is expected to benefit the demand for milk protein isolates and milk protein. Whey protein contains glutamine, which helps muscle glycogen replenishment and prevents a decline in the immune function, due to overtraining. It also contains high-levels of arginine and lysine, which may stimulate growth hormone release and an increase in the muscle mass. This change in the trend is projected to increase the demand for whey protein. The rise in popularity of protein-enriched food and beverages has led to an increase in the awareness among consumers, who are conscious of health issues related to a dairy-rich diet. Furthermore, the increase in population, urbanization and the growing demand for dairy products are augmenting the demand for diary ingredients.
Availability of alternatives, like plant protein, along with easy availability and low-cost of soy protein are hindering the market growth. Rising issues of lactose intolerance and milk allergies are also anticipated to pose a challenge to the growing dairy ingredients market. Moreover, the product prices are highly volatile, owing to unpredictable climatic conditions and inconsistent milk supply. Canola, soy, and rapeseed, which are plant protein, are the major substitutes to dairy products.
The dairy ingredients market is segmented, by form, into dry, concentrated and liquid, based on the availability of the product. Milk powder held a major share of the market, in 2014. Milk protein isolates and milk protein concentrates are anticipated to experience similar demand in the next seven years, while whey protein is expected to witness significant demand over the same period.
By type, dairy ingredients are divided into various categories, such as milk powder, milk protein concentrates & milk protein isolates, whey ingredients and lactose & its derivatives. Milk powder and whey are major dairy ingredient sources that have various applications, including confectionery, dairy products, infant milk formula, etc., along with other food products, such as beverages, non-dairy creamers, meat, etc. While whey ingredients dominate the market, regarding revenue, lactose is dominating, regarding the shipment units.
Bakery & confectionery, dairy, convenience foods, and sports & clinical nutrition products are the major end-users of dairy ingredients. Milk protein concentrates & milk protein isolates have high growth prospects owing to the increasing sports activities, worldwide, as they have high usage as sports supplements. Consumers are becoming active and maintaining their health; thus, they include various nutraceutical food products in their regular diet.
Geographically, the dairy ingredients market is segmented into North America, Europe, South America, Asia-Pacific and Africa. Asia-Pacific leads this market, followed by Europe and North America. An increase in the disposable incomes, along with constant increase in the toddler and infant population in the region, are anticipated to benefit the global market. The European and North American markets are also projected to witness growth over the forecast period. Owing to the increase in per-capita spending power and change in food habits, particularly in economies, such as China and India, the APAC market is witnessing positive growth. However, Japan is expected to register a lower growth rate, when compared to the other countries of Asia-Pacific. High-concentrate ingredients, such as whey proteins and milk protein isolates, are majorly found in developed nations, such as the United States, Germany, and France; while, the low-concentrate ingredients are prevalent in the developing countries. Skim milk powder (SMP) is gaining momentum in the market; the United States and the EU countries are the major SMP producers, worldwide, with more than half of the world’s supply of SMP.
Dairy ingredients are used in the preparation of various food products like chocolate, sports food, ice creams, bakery-snacks, clinical nutrition, pork meat, prepared deserts & soups and ready-to-eat. Glanbia PLC, Fonterra Co-Operative Group Limited, Dairy Farmers of America, etc., are some of the industry leaders operating in the diary ingredients market.
FrieslandCampina (The Netherlands)
Fonterra Co-Operative Group (New Zealand)
Dairy Farmers of America (U.S.)
Arla Foods. (Denmark)
Glanbia Plc. (Ireland)
Groupe Lactalis (Germany)
Saputo Inc. (Canada)
Volac international Limited (U.K.)
Murray Goulburn Co-Operative Co. Limited (Australia)
The global dairy ingredients market is expected to record a strong growth over the forecast period. Increase in the global awareness among the consumers, about the health benefits of a nutritious diet, is sustaining the market. Since, the global dairy ingredient market is concentrated, major industry participants have been adopting different competitive strategies to overcome hindrances in the industry across emerging markets, to increase their production capacities and gain market share. They are also promoting the market through new product launches, strategic expansions, investments, collaborations, joint ventures, acquisitions and partnerships, investments in R&D and introduction of new production sites with innovative production techniques. These companies are providing a holistic view to the competitive scenario of the dairy ingredients market. For new investment prospects, companies are considering the high-growth regions, for instance, Central & South America and Asia-Pacific.
KEY DELIVERABLES IN THE REPORT
Market analysis for the global dairy ingredients market, with region-specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies, along with their market share.
Identification and analysis of the macro and micro factors that affect the global dairy ingredients market.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major regions, where this industry is growing, and identify the regions that are still untapped.
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