Multi-Billion Dairy Protein Market – Global Opportunity Analysis and Industry Forecast, 2021-2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Dairy Protein Market by Type by Application and by Form: Global Opportunity Analysis and Industry Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The global dairy protein market size was $9.9 billion in 2019, and is anticipated to reach $15.3 billion by 2027, with a CAGR of 4.6% during the forecast period.
The market is expected to exhibit an incremental revenue opportunity of $5.4 billion from 2019 to 2027. Dairy protein such as whey protein, casein & derivatives and milk protein concentrates are widely consumed across industries such as food & beverages, nutrition, feed, personal care, cosmetics, and textiles. Their multipurpose nature and functionalities such as thickening, binding, gelling, and texturizing have led to their wide adoption in these application industries.
The dairy protein market growth is propelled by the growing demand for nutritional food in the market. Due to rise in awareness about health and nutritional food products, people are ultimately shifting toward healthy diets and increasing their protein intake, by using protein supplements, thereby fueling the market growth for dairy protein.
Busy lifestyle and increasing women participation in the labor force have contributed to their focus toward nutritional supplements for their babies, which is offered by infant formula. Dairy protein are one of the major components of infant formula, which is likely to drive the demand for dairy protein in the future.
Protein supplements and protein-based food products are still in nascent stages in various regions of Africa such as Zimbabwe, Liberia, Eritea, and Burundi and various other developing regions. These are still untapped, which present a great opportunity for manufacturers of dairy protein.
The dairy protein market is segmented on the basis of types, application, form, and region. By type, it is categorized into casein & derivatives, whey protein, and milk protein concentrate. Whey protein are the most preferred choice of dairy protein among consumers due to their high protein content and functionality.
The whey protein segment was valued at $5.0 billion in 2019, and is expected to grow with a CAGR of 4.2% from 2019 to 2027, to reach $7.4 billion by 2027. The casein & derivatives segment is estimated to be the fastest growing segment during the forecast period. This is attributed to its growing demand due to versatility in its applications in food & beverages, nutrition and personal care industries.
On the basis of application, it is categorized into food & beverages, nutrition, personal care & cosmetics, feed, and others. The food & beverages segment led the dairy protein market in 2019, and is estimated to grow with a CAGR of 4.2% during the forecast period. This segment is expected to reach $6.8 billion by 2027. The nutrition segment is anticipated to be the fastest growing segment during the dairy protein market forecast. Growing awareness about the benefits of nutritional supplements among consumers in developing countries is likely to drive the nutrition application segment in the dairy protein market.
On the basis of form, the solid segment held a significant share in the global market in 2019. However, the solid segment is expected to grow at a higher CAGR, owing to increase in inclination of consumer toward solid form of products. In addition, due to its better stability and ease of handling and storage, as compared to liquid form, it is likely to remain dominant over the forecast period.
The key players profiled in this report include Kerry Inc, Arla Foods Inc., Archer Daniels Midland Company, Fonterra Co-Operative Group (Fonterra), Groupe Lactalis, Cabot Creamery, Royal Frieslandcampina, Dana Dairy Group, Schreiber Foods, and Saputo.
Market dynamics
Drivers
- Rise in demand for protein as nutritional and functional ingredients
- Consumer awareness regarding healthy diet
- Rise in demand for infant formula
Restraint
- Surge in demand for plant-based protein
Opportunities
- Introduction of protein supplements in untapped market
- Product innovation and rise in demand for organic dairy ingredients
Key Topics Covered:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Dairy Protein Market, By Type
Chapter 5: Dairy Protein Market, By Form
Chapter 6: Dairy Protein Market, By Application
Chapter 7: Dairy Protein Market, By Region
Chapter 8: Competition Landscape
Chapter 9: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/rr63lr
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
