The global dairy ingredients market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing consumption of food & beverages with enriched nutrition’s to fulfill protein requirements is anticipated to drive market growth. Moreover, the launch of new products owing to the growing demand for protein supplements is expected to fuel market growth over the forecast period.
The global dairy ingredients market report has been segmented on the basis of product, application, and region.
On the basis of product type, the global dairy ingredients market has been segmented into milk powder, whey ingredients, milk protein concentrates (MPC), milk proteins isolates, milk protein hydrolysates, lactose & derivatives, and others (blenders & replacers, rolled dried powder, and casein & caseinate). Milk protein concentrates segment is expected to witness steady growth over the forecast period. Growing demand for baked goods, desserts, and dairy products are expected to boost the segment growth.
On the basis of the application, the global dairy ingredients market has been segmented into bakery & confectionery, dairy products, infant milk formula, convenience food, sports & clinical nutritional, and others (processed meat, beverages, and non-dairy creamers). Bakery & confectionery segment is expected to witness higher growth rate over the forecast period. Increasing chocolate consumption as a functional food is anticipated to boost the segment growth.
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On the basis of region, the global dairy ingredients market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe market is expected to grow at a rapid pace over the forecast period. Growing expenditure of sports professionals and individuals on nutritional products is expected to drive Europe dairy ingredients market over the forecast period.
Key players operating in the global dairy ingredients market include Arla Food Ingredients, FrieslandCampina Ingredients, Fonterra Co-Operative Group Limited, Dairy Farmers of America (DFA), Glanbia PLC, Aurivo Dairy Ingredients Limited, Saputo Inc., Sodiaal Group, Groupe Lactalis S.A., and Volac International Limited.