Hyderabad, July 25, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Dairy Ingredients Market Report (2023-2028)," the market is estimated at USD 60.06 billion in 2023. It is expected to register a CAGR of 4.06% during the forecast period.
Dairy ingredients are referred to as edible substances that are rich in essential nutrients, amino acids, minerals, carbohydrates, proteins, and probiotics, like whey protein, milk powder, casein, and protein concentrate.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 60.06 billion |
| Market Size (2028) | USD 73.28 billion |
| CAGR (2023-2028) | 4.06% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Extensive use of dairy ingredients in the food industry. |
| Increase in the demand for functional and fortified foods. |
Who are the Top Companies in the Global Dairy Ingredients Market?
The market is highly competitive, with the presence of many players. Existing companies are constantly expanding and innovating their offering to strengthen their presence in the market.
Significant players in the global dairy ingredients market are,
- Arla Foods amba
- Dairy Farmers of America
- Sodiaal Co-Operative Group
- Fonterra Co-Operative Group Limited
- Royal Friesland Campina
- Kerry Group PLC
- Kanegrade Ltd
- Groupe Lactalis
- Volac International Ltd
- Hoogwegt International BV
- Saputo Inc.
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Key Highlights from the Global Dairy Ingredients Market Report:
Increase in the Production of Milk Boosts the Demand for Dairy Ingredients
- Lactalis, a dairy manufacturer, along with other similar manufacturers, launched organic whole milk powder ingredients for applications in the bakery and confectionary industries.
- Various government initiatives to support the dairy industry play a huge role in boosting the market.
A Major Share of the Market is Held by Europe
- Countries like Germany, the United Kingdom, and France make use of highly concentrated dairy products like milk protein isolates and whey protein, thus boosting the dairy ingredients market.
- The increase in demand for milk-based proteins, especially among individuals who are into fitness and athletics in Europe, contributes to the growth of the market.
What are the Latest Developments in the Global Dairy Ingredients Market?
- In July 2022, Tillamook County Creamery Association (TCAA) and Three Mile Canyon Farms entered a joint venture with Fonterra’s global ingredient business in the United States to launch Pro-OptimaTM.
- In May 2022, a new online dairy platform was launched by Fonterra, which made it easier for customers of various dairy products to make purchases. The app was named myNZMP and aimed at boosting the convenience of customers.
Mordor Intelligence has Segmented the Global Dairy Ingredients Market Based on Type, Application, and Geography:
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Milk Powders
- Skimmed Milk Powders
- Whole Milk Powders
- Milk Protein Concentrates and Milk Protein Isolates
- Whey Ingredients
- Whey Protein Concentrate (WPC)
- Whey Protein Isolate (WPI)
- Hydrolyzed Whey Protein (HWP)
- Lactose and Derivatives
- Casein and Caseinates
- Other Types
- By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Bakery and Confectionery
- Dairy Products
- Infant Milk Formula
- Sports and Clinical Nutrition
- Other Applications
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Rest of North America
- Europe
- United Kingdom
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Dairy Ingredients Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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