Overview and Scope
Milk protein is the protein that is obtained from filtered milk, which contains whey and casein proteins. They are used in various nutritional and functional applications.
Sizing and Forecast
The milk protein market size has grown strongly in recent years. It will grow from $12.64 billion in 2023 to $13.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to research and development in nutritional science, rising health and wellness trends, growing demand for sports nutrition, functional food and beverages growth, shift towards plant-based alternatives..
The milk protein market size is expected to see strong growth in the next few years. It will grow to $18.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to changing dietary patterns, sustainable production practices, research and development in nutritional science, innovation in plant-based alternatives, expanding functional food and beverage market, rising application in infant formula.. Major trends in the forecast period include rising demand for high-quality protein sources, research and development in nutrition science, customization and specialty products, technological advancements in processing, sustainability concerns and ethical consumption..
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Segmentation & Regional Insights
The milk protein market covered in this report is segmented –
1) By Type: Milk Protein Concentrate, Milk Protein Isolate [MPI], Milk Protein Hydrolysates, Casein And Caseinates, Whey Protein Concentrate, Whey Protein Isolate, Other Types
2) By Form: Dry, Liquid
3) By Livestock: Cow, Buffalo, Goat
4) By Application: Dairy Products, Frozen Desserts, Infant Formula, Dietary Supplements, Bakery, Confectionery, Beverages, Sweet, Savory Snacks
5) By Distribution Channel: Online, Offline
North America was the largest region in the milk protein market share in 2023. The regions covered in the milk protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in infant birth rate is expected to propel the milk protein market growth. The total number of births divided by the entire population is known as the infant birth rate. It is a demographic measure of the rate at which births occur. The rising birth rate would necessitate meeting the nutritional needs of infants, and milk protein would aid in meeting the nutritional needs of children, driving the market growth. For instance, in May 2022, according to the CDC (Centers for Disease Control and Prevention), a US-based national public health agency, the birth rate increased by 1% for the first time in seven years, from 55.6 in 2020 to 56.6 in 2021. Therefore, the rise in infant birth rate drives the growth of the milk protein market.
Key Industry Players
Major companies operating in the milk protein market report are Royal FrieslandCampina N.V., Fonterra Co-operative Group Limited, Arla Foods amba, Amco Proteins Company., Saputo Inc., Glanbia PLC, Kerry Group PLC, Havero Hoogwegt Group B.V., Lactalis Ingredients, Sachsenmilch Leppersdorf GmbH, Cargill Inc., Archer-Daniels-Midland Company, Omega Protein Corporation, Dean Foods Company, Charotar Casein Company, Danone Nutricia, Hilmar Ingredients, Milk Specialties Global, Idaho Milk Products, Agropur Dairy Cooperative, Carbery Group Limited, Davisco Foods International Inc., Leprino Foods Company, Lactose Limited, Erie Foods International Inc., Grande Custom Ingredients Group, Milkaut S.A., Farbest Brands Inc., Batory Foods Inc., Armor Proteines, Nutrimed Healthcare, Agri-Mark Inc., Arion Dairy Products B.V .
The milk protein market report table of contents includes:
1. Executive Summary
2. Milk Protein Market Characteristics
3. Milk Protein Market Trends And Strategies
4. Milk Protein Market – Macro Economic Scenario
5. Global Milk Protein Market Size and Growth
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31. Global Milk Protein Market Competitive Benchmarking
32. Global Milk Protein Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Milk Protein Market
34. Milk Protein Market Future Outlook and Potential Analysis
35. Appendix
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