Dairy ingredients are made from milk and find application in chocolates, bakery products, ice creams, sports food, prepared food products, ready-to-eat food products to name a few. Dairy ingredients are basically used for flavor and texture enhancement offering viscosity, gel formation, emulsification and fat holding properties of the particular food and beverage product. Dairy ingredients types include milk, whey and permeate. Milk is essential component of human diet and thus has wide acceptance among consumers. Milk is dried and preserved in the form of powder, owing to its benefits of having increased shelf-life and low moisture content, which is known as dried form of milk. Other types of milk derived dairy ingredients include casein and caseinate, milk protein concentrate, milk protein isolate, and others. Whey ingredients are classified as whey protein isolate, whey protein concentrates, and others. Depending upon the application, dairy ingredients types are used in the final product.
International and domestic trade barriers have resulted in complex system for dairy industry worldwide in combination with price constraints in some of the major dairy markets such as European Union, United Sates, Japan and Canada. As compared to all these barriers, dairy industry offers wide potential especially in Asia Pacific, wherein factors such as urbanization, income growth, government plans and policies supporting dairy industry, inclination of consumers towards milk and milk products are bolstering dairy ingredients market growth. Growing dairy industry is thus supporting the demand for dairy ingredients especially in the dairy food products globally. However, price is a key concern among dairy ingredient manufacturers, which hinders overall dairy ingredients market growth.
Globally, dairy ingredients market in Asia Pacific is expected to be largest in terms of value followed by Europe and North America. Asia Pacific is further anticipated to exhibit fastest CAGR during the forecast period, which is attributed to growing food and beverage industry in China and India leading towards demand for dairy ingredients coupled product launches catering to the dairy food products especially in China and India. However, demand for dairy ingredients is expected to record moderate growth in Latin America, owing to increased consumption along with growing imports and exports of milk in Brazil, thereby leading towards subsequent demand for dairy ingredients in the region.
Global dairy ingredients market is expected to be valued at US$ 61.72 Bn by the end of 2021 and is projected to expand at a CAGR 5.4% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Dairy Ingredients Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global dairy ingredients market.
Target Audience
USP and Key Offerings
The report titled “Global Dairy ingredients Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2021 – 2029” offers strategic insights into the dairy ingredients market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on fuel type and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading dairy ingredients manufacturers, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global dairy ingredients market growth, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
The global dairy ingredients market can be categorized on the basis of source as:
Milk segment is anticipated to hold largest market share by 2029 end in terms of revenue contribution. Owing to increasing demand for milk protein concentrates (MPC) and milk protein isolates (MPI), demand for milk as source is anticipated to be significant throughout the forecast period. Increasing consumer concerns regarding nutritional aspects and health consciousness related to food ingredients has led towards adoption and enhancement of dairy ingredients among manufacturers, thus driving the overall dairy ingredients market growth. In addition, dairy ingredients basically in milk powder form are expected to gain traction among food product manufacturers, which is attributed to benefits such as heat stability low microbiological level, easy infant formula production process. Whey segment is anticipated to record highest growth during the forecast period, which is attributed to rising demand for sports nutrition among consumers. Also, increasing consumption of functional food products, owing to protein requirements among vegans across the globe is anticipated to drive the demand for dairy-based products, thereby leading to dairy ingredients market growth. Moreover, governments of countries such as the U.S. and U.K. are offering increased inclination towards addition of whey protein in food and beverage products, which is thus expected to have a substantial impact on the overall dairy ingredients market.
On the basis of type, the dairy ingredients market is categorized into following types:
Rising demand for healthy food products among consumers is leading to development of such food products with a key focus on including milk powder and whey as ingredients in the final product. Of different types, milk powder segment holds largest market share and is expected to maintain its dominance throughout the forecast period. Mitigating efficient supply to mitigate the demand for healthy food products subsequently is a concern among manufacturers, thereby leading to adoption of whey in the food products. This is anticipated to lead towards significant demand for these food products among consumers, thus leading to high growth in the near future. Owing to benefits such as less moisture and high shelf-life of the product, milk powder as dairy ingredient type is expected to remain significant in the near future. Infant food application is further contributing towards the growth of this segment. Milk protein isolates and milk protein concentrates segments are collectively anticipated to account for large share by 2029. This is attributed to growing popularity of protein-rich food products among consumers.
The global dairy ingredients market can be categorized on the basis of application as:
Dairy ingredients are used in various food products including ice creams, chocolate, toppings, dietetic, infant formula, clinical nutrition, snacks, porkmeat, ready-to-eat, prepared deserts and soups. Among the different applications undertaken in the report scope, dairy food products segment accounted for around 40% of the total market share and are expected to remain dominant during the forecast period. Globally, dairy ingredients application in dairy food products is anticipated to gain traction and is predicted to record significant growth during the forecast period. Food products that help in weight management, wellbeing, more minerals, antioxidants, and more nutritional content delivery are gaining significant traction among consumers. This has further led dairy food manufacturers to develop technically advanced products to suit the consumer demand and thus, development of technically advance ingredients. Dairy ingredients offer nutrients that are essential for maintenance of good health, which is expected to increase application of dairy ingredients in food products, thus fuelling the market growth. Owing to increasing demand for food products offering active ingredients, improved digestion, vitamins and minerals content, fortify bones, improve health and boost immunity throughout different stages of life, especially during infant and child nutrition is witnessing surge among consumers. Thus, leading towards development of such ingredients by manufacturers in the food products.
In 2020, Europe was the leading market followed by Asia Pacific. Both these regions together accounted for around 70% share of the market in terms of value. However, growth is projected to be fastest from the Asia Pacific region during the forecast period 2021 to 2029. Dairy ingredients market growth in Asia Pacific is attributed to increasing consumer inclination towards health maintenance and adoption of dairy ingredients in regular diet of people of all age groups. Furthermore, growing popularity of food products rich in protein and benefits associated with consumption of dairy ingredients primarily through dairy food products is fuelling market growth. The market for dairy ingredients in Latin America is anticipated to record significant growth, followed by North America. Brazil and Argentina serve as potential markets for companies operating in the dairy ingredients market in Latin America. The market for dairy ingredients in Middle East and Africa is projected to grow at a steady rate during the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Dairy Ingredients market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
