Dairy Ingredient Market Overview
In 2023, the Global Dairy Ingredient Market was valued at USD 72.53 billion and is expected to grow at a compound annual growth rate (CAGR) of 6.8% during the forecast period (2024-2030), reaching an estimated value of USD 114.96 billion by 2030. Dairy ingredients, primarily derived from milk and whey, are essential components in numerous food products due to their nutritional benefits, flavor, and versatility. These ingredients are used in various industries, including dairy products, bakery and confectionery, convenience foods, and infant formula.
Dairy Ingredient Market Report Dynamics:
Growth Drivers
Rising Population and Nutritional Awareness
The growing global population, along with increasing awareness about nutrition, has significantly boosted demand for dairy ingredients. According to the Population Reference Bureau, the world population is expected to reach 9.9 billion by 2050, leading to a sharp increase in the demand for food products. Nutritional awareness, especially among health-conscious consumers and the elderly population, is a key driver for the growth of the dairy ingredients market. Consumers are seeking food products that not only meet basic dietary needs but also offer added health benefits.
Health-Conscious Trends
The surge in consumer preference for healthy, fortified foods and beverages is contributing to the dairy ingredient market’s growth. Regulatory bodies such as the US FDA and the UK government are also promoting the inclusion of proteins and other nutritional ingredients in foods, which is expected to drive market expansion.
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Restraints
Availability of Alternatives
The increasing availability of plant-based protein alternatives, such as hydrolyzed vegetable protein (HVP), poses a significant challenge to the dairy ingredients market. These alternatives, often seen as substitutes for dairy-based products, offer similar nutritional benefits and are particularly popular among consumers seeking vegetarian or vegan options.
Opportunities
Increasing Public Awareness of Healthy Foods
The growing emphasis on nutritional enrichment in food and beverages presents a significant opportunity for the dairy ingredient market. As consumers become more health-conscious, demand for food products with high nutritional value, including those enriched with dairy ingredients, is rising. Furthermore, increasing disposable incomes and a greater willingness to pay a premium for healthy products offer considerable market growth potential.
Challenges
Technological Advances and Competition
Technological advancements in the food industry, changes in consumer preferences, and environmental concerns are reshaping the dairy sector. Traditional dairy products, such as milk powder and butter, are facing increasing competition from new technologies and alternative ingredients, presenting challenges for market growth.
Dairy Ingredient Market Regional Insights
Asia Pacific: The Largest and Fastest Growing Market
In 2020, the Asia Pacific region dominated the global dairy ingredients market with a 42.2% share. The region is projected to grow at the highest CAGR during the forecast period, driven by increasing health awareness and demand for functional and fortified foods. The growing millennial population and the increasing consumption of infant formula and sports drinks are significant factors driving growth in this region.
North America and Europe
Both North America and Europe are established markets for dairy ingredients, characterized by a high demand for dairy products, bakery items, and convenience foods. These regions are also experiencing increased consumer interest in health and wellness, which is contributing to the steady growth of the dairy ingredients market.
Dairy Ingredient Market Segmentation
By Type
Milk Powder: The milk powder segment accounted for 39.2% of the market share in 2020 and remains the dominant category. It is widely used in bakery products, dairy products, and infant nutrition due to its convenience and versatility.
Whey Ingredients: Expected to grow at a CAGR of 4.3%, the whey ingredients segment is widely used in protein bars, drinks, and other food items. Whey protein, derived from cheese production, is popular due to its high-quality nutritional profile.
Milk Protein Isolates
Milk Protein Hydrolysates
Others
By Application
Bakery & Confectionery: This segment held the largest share (45.2%) in 2020, driven by the rising consumption of bakery products, including healthier options like sugar-free and functional snacks.
Dairy Products: The dairy products segment is expected to grow at a CAGR of 3.3%, driven by demand for traditional products like yogurt, cheese, and butter, which remain popular globally.
Convenience Foods
Infant Milk Formula
Others
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Dairy Ingredient Market Key Players
The global dairy ingredient market is highly competitive, with key players focusing on innovation, mergers, acquisitions, and partnerships to maintain their market position. Major players in the industry include:
FrieslandCampina (Netherlands)
Groupe Lactalis (France)
Arla Foods (Denmark)
Saputo (Canada)
Fonterra Co-operative Group (New Zealand)
Dairy Farmers of America (US)
Kerry Group (Ireland)
Ornua (Ireland)
AMCO Proteins (US)
Prolactal (Austria)
These companies are investing in product development, expanding production capacities, and exploring new markets to stay competitive.
Key questions answered in the Dairy Ingredient Market are:
- What is Dairy Ingredient?
- What was the Dairy Ingredient market size in 2023?
- What is the growth rate of the Dairy Ingredient Market?
- Which are the factors expected to drive the Dairy Ingredient market growth?
- What are the different segments of the Dairy Ingredient Market?
- What growth strategies are the players considering to increase their presence in Dairy Ingredient?
- What are the upcoming industry applications and trends for the Dairy Ingredient Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Dairy Ingredient Market?
- What segments are covered in the Dairy Ingredient Market?
- Who are the leading companies and what are their portfolios in Dairy Ingredient Market?
- What segments are covered in the Dairy Ingredient Market?
- Who are the key players in the Dairy Ingredient market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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