Key participants of the dairy ingredients market include Lactalis Group, FrieslandCampina, Arla Foods, Kerry Group PLC, Saputo Inc., Dairy Farmers of America, Glanbia PLC, Volac International Ltd., EPI Ingredients, Fonterra Co-operative Group, Sodiaal Co-operative Group , Ingredia SA, Amco Proteins, Kanegrade and Batory Foods
Selbyville, Delaware, June 17, 2024 (GLOBE NEWSWIRE) —
The dairy ingredients market valuation is projected to reach $103.4 billion by 2032, as reported in a research study by Global Market Insights Inc.
Growing global population and growing consumer awareness of the nutritional benefits of dairy products is driving the demand for dairy ingredients in various food and beverage applications. Growing health and wellness trends are encouraging the consumption of protein-rich and functional foods, driving the use of dairy ingredients such as whey protein and casein in dietary supplements and sports nutrition. According to the India Brand Equity Foundation (IBEF), the Agricultural and Processed Food Products Export Development Authority has predicted that the Indian food processing sector will grow at 3% CAGR between 2022 and 2030. The booming processed food sector across the world will further escalate the demand for milk ingredients as they are widely used in the production of various food products.
Significant advances in milk processing and ingredient extraction are improving product quality and functionality, expanding their application in sectors such as bakery, confectionery and baby food. The growing demand for convenience foods and convenience foods is also requiring the inclusion of dairy ingredients to improve taste and texture. Expanding markets in developing regions and increasing lactose-free and low-fat dairy products to cater to diverse consumer preferences will further drive market growth.
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The milk ingredients market from the infant milk formula application segment will expand at a significant rate by 2032, owing to increasing awareness of infant nutrition and the need for high-quality, nutrient-rich formulas. nutrients. Substantial advances in milk processing are ensuring the safety and nutritional adequacy of infant formulas. Rising birth rates and greater spending capacity in emerging markets are also fueling the demand for premium infant milk formulas enriched with milk ingredients.
The whey ingredients product type segment is estimated to hold a significant share of the dairy ingredients market by 2032. The growing popularity of protein-rich diets and fitness trends is driving the demand for whey protein in sports nutrition and dietary supplements. The versatility of whey ingredients in improving texture and nutritional content makes them ideal for breads, cakes and dairy products. Incremental advancements in whey processing technology to improve product quality and functionality will drive segment growth.
The European dairy ingredients market will depict significant gains between 2023 and 2032, driven by increasing consumer demand for high protein and functional foods due to emerging health and wellness trends. Advances in milk processing technology are improving ingredient quality and product application in sectors such as bakery, confectionery and baby food. The growing popularity of lactose-free and low-fat dairy products, coupled with strong dairy consumption traditions and expanding markets in Eastern Europe will further drive the regional industry’s progress.
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Some of the major firms operating in the dairy ingredients market include Lactalis Group, FrieslandCampina, Arla Foods, Kerry Group PLC, Saputo Inc., Dairy Farmers of America, Glanbia PLC, Volac International Ltd., EPI Ingredients, Fonterra Co-operative Group , Sodiaal Cooperative Group, Ingredia SA, Amco Proteins, Kanegrade and Batory Foods. These industry leaders are adopting mergers and acquisitions, partnerships and new product launches to expand their customer base. For example, in March 2024, India’s dairy giant GCMMF, under the brand “The Taste of India”, launched fresh milk in the US by partnering with the Michigan Milk Producers Association (MMPA), the tenth largest cooperative of milk in the country.
Partial chapters of the report table of contents (TOC):
Chapter 1 Methodology and scope
1.1 Industry coverage
1.2 Market scope and definition
1.3 Estimates and basic calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 Analysis of the impact of COVID-19 at the global level
1.6 Data evaluation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid resources
1.7.2.2 Unpaid Resources
Chapter 2 Executive Summary
2.1 Milk ingredients market 360º overview, 2018 – 2032
2.2 Business trends
2.3 Product Type Trends
2.4 Shape of trends
2.5 Application trends
2.6 Regional trends
Chapter 3 Dairy Ingredients Market Insights
3.1 Analysis of the industry ecosystem
3.2 Forces influencing the industry
3.2.1 Growth drivers
3.2.2 Pitfalls and challenges of the industry
3.3 Analysis of growth potential
3.4 Analysis of the impact of COVID-19
3.5 Regulatory landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East and Africa
3.6 Price analysis, 2022
3.7 Technological landscape
3.7.1 Future market trends
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Russia-Ukraine War Impact on Industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a provider of global market research and advisory services, offering syndicated and customized research reports along with growth advisory services. Our business intelligence and industry research reports provide clients with insightful insights and actionable market data specifically designed and presented to aid strategic decision-making. These comprehensive reports are created through a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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