Dairy ingredients market is projected to grow at a CAGR of 5.61%
The global dairy ingredients market is projected to grow significantly from an estimated value of USD 45.55 billion in 2015 to USD 66.11 billion by 2022, at a CAGR of 5.61%. There has been a gradual shift in consumers’ choice from traditional foods to nutritional meals. The aging population and increase in health issues have led to a growth in demand for protein-based diets, thus increasing the demand for dairy ingredients, globally. In addition, the health & wellness trend also acts as a key driving factor, which fuels the consumption of dairy ingredients. Alternatives to dairy ingredients, such as plant protein, is a major factor restraining the growth of this market.
Milk is the largest source for manufacturing of dairy ingredients
Milk is the prime source from which dairy ingredients are manufactured. Availability and production of milk is higher than whey (another source for manufacturing dairy ingredients), hence milk accounts for a relatively larger market share. The milk segment is projected to grow at the highest CAGR.
Whey ingredient is the fastest-growing type in the dairy ingredients market
The whey ingredient segment is projected to grow at the highest CAGR during the forecast period as whey is a complete protein with all essential amino acids and low lactose content. The milk protein concentrates segment is projected to be the second fastest-growing dairy ingredient from 2016 to 2022.
Asia-Pacific: The fastest-growing dairy ingredients market
The Asia-Pacific market is projected to register the highest growth by 2022, owing to the significant increase in the health awareness level in consumers and the growth in demand for healthy and nutritional food products. The growth in this region is supplemented by the rise in per-capita expenditure and change in food habits, especially in economies such as China and India.
Break-up of Primaries:
- By Company Type - Tier 1 –45 %, Tier 2 -37%, and Tier 3 – 18%
- By Designation – C level – 62% and Manager level – 38%
- By Region – North America - 25%, Europe – 23%, Asia-Pacific – 40%, and RoW – 12%
Leading players profiled in this report are as follows:
• FrieslandCampina (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.)
• Devondale Murray Goulburn (Australia)
The dairy ingredients market has been segmented on the basis of type, application, source, and nature which are further divided into their subsegments. It has also been segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report:
• To get a comprehensive overview of the global dairy ingredients market
• To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players.
• To gain insights of the countries/regions in the dairy ingredients industry
Related Reports:Dairy Products Market Reports
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