Dairy Ingredients Market to Reach a Staggering US$118 Billion by 2033

Dairy Ingredients Market
Dairy Ingredients Market

The Global dairy ingredients market is estimated to reach US$ 66 billion in 2023. The overall market value is expected to reach US$ 118 billion by 2033, growing at a CAGR of 6% between 2023 and 2033.

Increased consumption of ready-to-eat foods, cheese, yogurt, curd and other functional food ingredients has increased due to the presence of protein. Versatile application of dairy ingredients for food processing as well as application of dairy ingredients in cosmetics are driving the market.

Dairy products are very rich in proteins and essential amino acids due to the presence of casein and caseinates in milk. Milk lactose derivatives find applications in pharmaceutical procedures as prebiotics to promote intestinal health. Traditionally, the consumption of milk and dairy products is linked to the quality of a holistic diet.

According to the United Nations, the world’s population is expected to reach 9.7 billion by 2050, which will boost the consumption of dairy ingredients. Convenient sales channels of discount retail chains, e-commerce and supermarkets benefit the dairy ingredients market.

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Key Takeaways from the Market Report

  • The global dairy ingredients market totaled sales of ~$60 billion in 2022.
  • Powdered milk is easy to store and has a longer shelf life than pure milk and is expected to grow at a rate of around 4%. Milk powder is expected to remain the dominant market segment by product type, owing to its extensive applications in infant foods and growing consumption of ready-to-eat bakery and confectionery products, as well as tea, coffee and other ready-to-drink milk drinks.
  • Dairy ingredients precipitated from milk such as casein and caseinates, and whey are a crucial raw material in supplement development and other food processing applications.
  • There is the application of dairy ingredients in cosmetics and personal care products in the form of an aqueous solution of casein and milk as a natural moisturizer.
  • The Asia-Pacific dairy ingredients market is expected to grow by 4.3%. India and China are spearheading the growth of the dairy ingredients industry in Asia Pacific, which is expected to pivot global growth given rapid urbanization, increasing number of convenience stores and technological advances in dairy processing.
  • Dairy ingredient components on the label are proliferating in an effort to make food and beverage products more nutritional, proliferating demand for diverse dairy ingredients.

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Competitive Outlook

  • Strategic alliances will contribute to the growth of the dairy ingredients market, such as the collaboration between the Future Group in India and the Fonterra dairy cooperative in New Zealand to develop and supply high-value consumer dairy products.
  • Major dairy ingredient companies include Fonterra Co-operative Group, Lactalis Group, AMCO Proteins, Arla Foods, Cayuga Dairy Ingredients, Dairy Farmers of America, Epi Ingredients, Friesland Campina, Glanbia Plc, Gujarat Co-operative Milk Marketing Federation Ltd. , Ingredia SA, Kerry Group, Megmilk Snow Brand Co., Meiji Holdings Co., China Mengniu Dairy Company Limited, Yili Group, Nestle SA, Saputo, Schreiber Foods Inc., Sodiaal Group and Volac International Ltd.
  • Product launches, collaborations with dairy ministries and boards, mergers, acquisitions, collaborations with technology companies, and advanced research and development are the main strategies used by the above-mentioned dairy ingredient companies.
  • In addition, some players also participate in organizing exhibitions and trade shows to expand the distribution of products to new customers and end users in the industry.

“The dairy ingredients market is driven by their taste, flavor and health benefits. Growing awareness about dairy products along with their increased usage in the food and beverage industry in the form of spreads, enhancers and emulsifiers are key factors for market expansion. » says senior analyst at Future Market Insights.

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About Future Market Insights Food and Beverage Division

Key segments

By product type:

  • Proteins
  • Powdered milk
  • Milk fat concentrates
  • Casein and caseinates
  • Lactose and its derivatives
  • Whey
  • Other types

By form type:

By application:

  • Bakery & Confectionery
  • Dairy products
  • Sports nutrition products
  • Infant formula
  • Beauty products
  • Drugs
  • Other apps

By distribution channel:

  • E-commerce
  • Specialty retailers
  • Supermarket & Hypermarket
  • Others

By region:

  • North America (United States and Canada)
  • Latin America (Brazil, Mexico, Argentina and rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain and rest of Europe)
  • South Asia and the Pacific (India, Thailand, Indonesia, Malaysia, Australia and New Zealand and the rest of South Asia and the Pacific)
  • East Asia (China, Japan and South Korea)
  • Middle East and Africa (GCC, South Africa, Israel and Rest of MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides in-depth insight into the driving factors driving market demand. FMI is the leading global provider of market intelligence, advisory services, advisory services and events to the packaging, food and beverage, consumer technology, healthcare, industry and chemicals. With an extensive team of more than 5,000 analysts worldwide, FMI provides global, regional and local expertise on diverse areas and industry trends in more than 110 countries.

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