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Dairy ingredients to reach $60 billion by 2020

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Dairy ingredients to reach $60 billion by 2020

Dairy ingredients to reach $60 billion by 2020
December 01
12:30 2015

Dairy ingredients, including milk powder, whey, MPC & MPI, lactose & casein, is expected to reach USD 59.8 Billion by 2020 at 5.6% between 2015 and 2020.

The segmentation considered for this report is based on type, application, source, and region. The dairy ingredients market, by type, has been segmented into milk powder, whey ingredients, MPC & MPI, lactose & its derivatives, casein & caseinates, and others which include milk protein hydrolyzed, whey protein hydrolyzed, milk and whey peptides, dairy protein fractions, colostrums, and a-lac. On the basis of application, it is segmented into bakery & confectionery, dairy products, convenience foods, infant milk formula, sports & clinical nutrition, and others which include meat, beverages, and non-dairy creamers, of which dairy powder accounts for the largest share.

The market for dairy ingredients is projected to witness an increasing trend in the upcoming years due to the growing awareness about the health benefits of nutritional food products, and increasing production in countries such as the U.S., India, and China. The increasing demand for healthy and diversified food and the growing convenience food & beverage industry support the growth of the dairy ingredients market, along with growing income levels and disposable income, especially in the Asia-Pacific region.

The dairy ingredients market is projected to grow at a CAGR of 5.6% from 2015 to 2020. The major drivers of the market are increasing awareness towards health & wellness, growth in application sectors, and R&D and innovations to expand applicability & accelerate growth. Additionally, increase in sedentary lifestyle, along with consumer preference for nutrient rich diet are projected to augment the overall growth of the market. The major restraining factor includes alternatives such as plant protein may restraint the market growth. Easy availability and low cost of soy protein is further projected to hamper the overall growth of the dairy ingredients market. Rising incidences of lactose intolerance and milk allergies is also projected to pose a challenge to the growing dairy ingredients market.

Leading players in the dairy ingredients market include FrieslandCampina (The Netherlands), Fonterra Co-Operative Group (New Zealand), Dairy Farmers of America (U.S.), Arla Foods. (Denmark), Glanbia Plc. (Ireland), Euroserum (France), Groupe Lactalis (Germany), Saputo Inc. (Canada), Volac international Limited (U.K.), and Murray Goulburn Co-Operative Co. Limited (Australia).

One of the major developments in the dairy ingredients market is expansions & investment. This strategy was adopted due to the increasing requirements for nutritional and dairy products all over the world. It helped the manufacturers to increase their dairy-based portfolio and also increase their geographic presence in the dairy ingredients industry. Companies are also adopting other growth strategies such as new product launches, acquisitions, agreements, and joint ventures to cope with the increasing demand for dairy ingredients in key emerging markets. These strategies have helped companies to create a large customer and partner base in key markets.

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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