Portland,OR, Sept. 17, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global dairy protein industry was pegged at $9.93 billion in 2019, and is anticipated to reach $14.54 billion by 2026, growing at a CAGR of 5.6% from 2019 to 2026.The report offers a detailed analysis of the drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Increase in demand for protein as nutritional and functional ingredients, growth in demand for infant formula and consumer awareness regarding healthy diet have boosted the growth of the global dairy protein market. However, rise in demand for infant formula impedes the market growth. On the contrary, advent of protein supplements in untapped markets and product innovation and rise in demand for organic dairy ingredients are expected to offer lucrative opportunities to the market in near future.
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The dairy proteins market is divided on the basis of type, application, form, and region. Based on type, the market is categorized into casein & derivatives, whey protein, and milk protein concentrate. The casein and derivatives segment is projected to portray the fastest CAGR of 6.7% during the forecast period. However, the whey protein segment held the largest share in 2019, contributing to around half of the global dairy protein market.
Based on application, the market is divided into food & beverages, nutrition, personal care & cosmetics, feed, and others. The food & beverage segment held the largest share in 2019, accounting for nearly half of the global dairy protein market. However, the nutrition segment is anticipated to portray the fastest CAGR of 6.6% during the forecast period.
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Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The global dairy protein market across North America held the largest share in 2019, contributing to nearly one-third of the market. However, the market across Asia-Pacific is estimated to register the fastest CAGR of 7.2% during the forecast period, due to awareness about the protein supplements.
The key market players profiled in the report include Arla Foods inc, Fonterra Co-Operative Group (Fonterra), GroupeLactalis, Kerry Inc, Cabot Creamery, Royal Frieslandcampina, Dana Dairy Group, Schreiber Foods, Saputo, Archer Daniels Midland Company.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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