Dairy Ingredients Market to Witness Unprecedented Growth in Coming Years

November 16 18:33 2022
Dairy Ingredients Market to Witness Unprecedented Growth in Coming Years
Rise in consumption of ready-to-eat and functional foods, complemented by the versatile application of dairy ingredients, and increased consumer awareness on healthy eating among consumers, have been driving the global dairy ingredient market.

The global dairy ingredients market is estimated to be valued at USD 63.6 billion in 2021 and is projected to reach a value of USD 89.9 billion by 2026, growing at a CAGR of 7.2% during the forecast period. Milk is considered a complete food because it consists of proteins, carbohydrates, water-soluble vitamins, antioxidants, and minerals. These substances are easily extracted from milk. Additionally, the market for dairy ingredients is growing as a result of rising milk production, and milk can be easily sourced from anywhere in the world. Another factor driving the dairy ingredient market is the constant advancement of dairy technology.

 Dairy Ingredients Market

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By type, the milk powder segment is projected to achieve the highest market share in the dairy ingredient market

Milk is frequently powdered to extend its shelf life and can be stored for more than six months. Manufacturers of food and beverages prefer milk powder as it can be formulated into any product and is less perishable than milk. Bakeries and other food processing industries that require milk as an ingredient prefer milk powders as they do not require refrigeration and still provide all of the milk characteristics. These factors have influenced food and beverage manufacturers to consume powder over milk; thus, the demand for milk powder has ever since increased.

By form, the dry ingredient segment is projected to achieve the highest market share in the dairy ingredient market

Dairy products are extremely perishable. In order to avoid ingredient degradation, most dairy ingredients are produced in dry form. Dry ingredients are convenient to store and can be used in any product formulation. Food and beverage manufacturers prefer the dry form of ingredients. Thus, the demand for the dry form of ingredient impacted as highest market share in the dairy ingredient market.

Cow in by livestock segment is projected to achieve the highest market share in the dairy ingredient market.

Cows are the most preferred livestock because they produce more milk than other livestock. Cow milk production has increased over the years, and obtaining cow milk is easier than obtaining milk from other livestock. Furthermore, the majority of the population prefers cow milk. Hence, the cow demand in the livestock segment is projected to have the highest market share in the dairy ingredient market.

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By application, the bakery & confectionery segment dominated the dairy ingredient market over the review period.

Lactose is used as a bulking agent, adding viscosity and texture, and is important in the Maillard reaction and caramelization of confectionery. Milk protein also provides a soft crumb structure in cakes and contributes to the moisture, color, and flavor of a baked product, among other things. Hence, dairy is an important ingredient in bakeries and confectionaries. As a result, large and medium-sized industries demand more dairy ingredients.

This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies operating in the dairy ingredients market. It includes the profiles of leading companies such as FrieslandCampina (The Netherlands), Groupe Lactalis (France), Arla Foods (Denmark), Saputo (Canada), Fonterra Co-operative Group (New Zealand), Dairy Farmers of America (US), Kerry Group (Ireland), Ornua (Ireland), AMCO Proteins (US), Prolactal (Austria), Valio (Finland), Glanbia (Ireland), Hoogwegt Group (The Netherlands), Batory Foods (USA), Ingredia SA (France), Agropur (Canada), and Euroserum (France). New product launches as a result of extensive R&D initiatives, geographical expansion, and strategic acquisitions to gain a foothold over the large extent of the supply chain are the key strategies adopted by companies in the dairy ingredient market.

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