Milk Protein Market: Regional Analysis, Key Players, and Forecast 2030
Milk Protein Market Insights
According to marker research future insights analysis, the
global milk protein market is expected to register a CAGR of 6.9 % from 2022 to
2030 and hold a value of over USD 18.22 billion by 2030.
The milk protein market is anticipated to grow over the
forecast years due to a trend towards nutrient-dense and healthful diets,
increased health consciousness, and more research and development to improve
dairy protein ingredients' performance, scent, and flavour. Additionally, a
rise in the rate of births worldwide and an increase in protein consumption to
obtain additional nutrients from protein supplements are expected to drive the
market in the upcoming years. Furthermore, it is anticipated that the market
will be supported in the coming years by an increasing number of working women
and an increase in milk production. A rise in the demand for nutrition-based
goods in baby formula, clinical nutrition, and sports nutrition is anticipated
to have a major impact on the milk
protein market. Moreover, a rise in high-protein foods in the bakery and
confectionery sectors is projected to impact the milk protein market
significantly. Milk protein has emerging functional potential in new products,
which is anticipated to create untapped opportunities for market players.
However, some limitations and difficulties can impede market expansion. Plant
proteins are becoming increasingly popular, which could limit market growth.
Key Players
Some milk protein key market players are Cargill, Inc.,
Saputo, Inc., Glanbia, Plc., Kerry Group, Plc., Arla Foods, Fonterra
Co-Operative Group Limited, ROYAL FRIESLANDCAMPINA N.V., Nestlé, Idaho Milk
Products and Others.
Market Segmentation
The global milk protein market has been segmented by product
type, form, and application.
Based on product type, the market has been segmented into
concentrates, hydrolyzed products, isolates, and others. The isolates category
accounted for the largest milk protein market size in 2021. Manufacturers
frequently add milk protein isolate, a protein supplement made from skim milk,
to finished goods like high-protein supplements and snacks. Similar amounts of
casein and whey protein to those found in cow's milk are used to make milk
protein isolate. For the final product to contain at least 90% protein,
filtering processes like ultrafiltration, microfiltration, and diafiltration
are used to remove lactose and most of the minerals.
Based on the form, the market has been segmented into
powder, liquid, paste/spreadable and others. In the 2021 milk protein market,
the steel coil category accounted for the largest revenue share. Protein powder
is a popular product category among athletes and those following specialised
milk protein diets. Protein powder, especially whey protein, is crucial for
vegetarians and non-vegetarians alike. Easily incorporated into powders and
shakes, powdered milk protein is regarded as a good source of nutrition due to
its high concentration of essential amino acids. Recent trends favour products
with low lactose contents.
Based on the application, the market has been segmented into
food and beverages, nutraceuticals and dietary supplements, pharmaceuticals,
cosmetics and personal care, infant formula, the pet care industry, and others.
In 2021, the infant formula category accounted for the largest revenue share in
the milk protein market due to the huge demand in this market sector, which is
a result of urbanisation and the rise in the number of working women, which
encourages mothers to pursue careers without compromising the nutrition of
their children.
Regional Analysis
The milk
protein market in North America dominated in 2021 due to increased demand
for dairy proteins and protein-based food products in various foods and
beverages because of their versatility and rising per capita income. One factor
influencing the expansion of the target market in this region is the rising
demand for milk protein added to low-fat food and beverage products. The target
market is expanding in this region due to rising consumer preference for
value-added goods and growing knowledge of the health advantages of milk
protein.
Asia Pacific is expected to register lucrative growth in the
milk protein market. This may be changing due to the rapid growth of the middle
class in China and India. This region is anticipated to experience the largest
growth rate, largely because the middle classes in these nations desire to
mimic the diets of their Western counterparts. Governments in these countries
have worked harder to promote the importance of proper nutrition for the
general public, particularly for young children. They have pushed agricultural
and food businesses to use milk protein powders in their products.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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