According to the report “Dairy Ingredients Market by Form (Milk, Whey), by Type (Milk Powder, Whey Ingredients, Milk Protein Concentrates, Milk Protein Isolates, Lactose & Derivatives, Casein & Caseinates, Milk Protein Hydrolysates), by Application (Bakery & Confectionery, Dairy Products, Convenience Foods, Infant Milk Formula, Sports & Clinical Nutrition), and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Global Dairy Ingredients Market was worth USD 48 billion in 2016 and estimated to be growing at a CAGR of 5.56%, to reach USD 63 billion by 2021.
The Dairy Ingredients market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rising awareness about health and wellness among people across the globe.
Dairy ingredients are one of the most important parts of the production of dairy and other food products. Their primary uses include enhancing the nutrition value, adding flavors and other functions like emulsification and solubility.
The dairy ingredients have a high potential in their applications in new products, and thus have shown a rapid growth over recent years. Other factors contributing to the growth of the market include, growing applications in nutrition and convenience foods, increase in demand for bakery products, increasing dairy production, emerging markets in various regions. The market faces some restraints as well, which include available alternatives like plant proteins, rising incidences of lactose intolerance and allergies, adulteration of dairy products. These factors are hindering the growth of the market.
The Global Dairy Ingredients Market is segmented on the basis of form, type and application. The market segmentation on the basis of form is done under milk and whey. Based on type the market is segmented into milk powder, whey ingredients, milk protein concentrates, milk protein isolates, lactose & derivatives, casein & caseinates, milk protein hydrolysates. On the basis of application, the market is segmented into bakery & confectionery, dairy products, convenience foods, infant milk formula, sports & clinical nutrition. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Dairy Ingredients market was dominated by Asia-Pacific, with the overall market share of over 50% globally. Asia-Pacific was followed by Europe and North America. Asia Pacific is predicted to grow at a rapid pace while Europe market is expected to be stagnant in the coming few years.
Some of the major companies dominating the Dairy Ingredients Market, by their products and services include Frieslandcampina, Fonterra Co-Operative Group Limited, Dairy Farmers of America, Arla Foods, Glanbia PLC, Euroserum, Groupe Lactalis, Saputo Inc., Devondale Murray Goulburn, Volac International Limited.
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