The dairy ingredients market is predicted to grow at a CAGR of 6% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 66 Bn in 2023 to US$ 118 Bn by 2033 end.
The dairy ingredients market is strongly supported by the largest contribution of the U.S. market. All 50 states in America have dairy farms, and almost 95% of them are owned by family businesses. The milk that they produce is used by large corporates to process, package, and create other dairy products like cheese and yoghurt. High demand for dairy products and ingredients due to the escalating number of netizens and easily accessible health and diets information is propelling the market.
The wide range of applications of dairy ingredients in bakeries and confectionery is boosting the dairy ingredients market. High consumption of confections that include dairy ingredients like milk chocolate, caramel, fudge, pralines, and toffee, is stimulating the demand for dairy ingredients. The category growth is forecast to be fueled by demand for premium indulgent chocolates. Chocolates are available both as an affordable routine snack and luxury gifting items. Promising growth opportunities for this segment are expected to strongly influence the scope of dairy ingredients manufacturers.
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Latest News Pertaining to the Developments by Dairy Ingredients Key Players:
- In 2021, Eurial I&N introduced EuriNutri WPC, a whey protein concentrate ingredient that has about 80% of protein content. The product is suitable for post-effort recovery and pre-workout nutrition.
- In 2020, Arla Foods unveiled its first organic ingredient, MicelPure, which is a micellar casein isolate. The ingredient includes at least 87% of native milk protein and has low lactose and fat content.
- In 2020, Lactalis Ingredients released a new skimmed milk powder, which has excellent heat stable qualities. The product is ideal for formulating condensed milk. It is developed in Lactalis plant located in Germany.
Key Takeaways from the Dairy Ingredients Market:
- The United States dairy ingredients market is predicted to hold major share in the global market. As per FMI’s estimated, the market worth would stand at a lucrative US$ 41.8 Bn by 2033. Over the coming years, the market would accelerate at 5.8% CAGR.
- After U.S., China would lead the global market by achieving the market size of US$ 8.5 Bn by 2033. In the span of next 10 years, the Chinese market would expand at a CAGR of 5.5%.
- Under the product type category, the proteins segment holds the largest market share. This could be attributed to the rising health-conscious consumers who are incorporating proteins in their diet by consuming dairy products or protein supplements. The segment is forecast to grow at a CAGR of 5.9%.
- The growing preference for powdered dairy ingredients due to extended shelf-life and wide applicability is propelling dairy ingredients market. The powdered form of dairy ingredients is predicted to grow at CAGR of 5.6%.
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Key Segments
By Product Type:
Proteins
Milk Powder
Milk Fat Concentrates
Casein and Caseinates
Lactose & Its Derivatives
Whey
Other Types
By Form Type:
Powder
Liquid
By Application:
Bakery & Confectionery
Dairy Products
Sports Nutrition Products
Infant Formulas
Cosmetics
Pharmaceuticals
Other Applications
By Distribution Channel:
E-Commerce
Specialty Retailers
Supermarket & Hypermarket
Others
By Region:
North America (U.S & Canada)
Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
Europe (Germany, Italy, France, U.K., Spain & Rest of Europe)
South Asia & Pacific (India, Thailand, Indonesia, Malaysia, Australia & New Zealand and Rest of South Asia & Pacific)
East Asia (China, Japan & South Korea)
Middle East & Africa (GCC, South Africa, Israel & Rest of MEA)
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Frequently Asked Questions
- How will the global dairy ingredients market expand in the future?
- What drivers underpin the global dairy ingredients market growth?
- Which is the most prominent dairy ingredient type?
- Which is the largest dairy ingredient market?
- Which are the prominent dairy ingredients market players?
About Future Market Insights (FMI)
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