dairy ingredients Market

The dairy ingredients market was valued at US$ 85,684.15 million in 2021 and is projected to reach US$ 105,295.16 million by 2028. It is expected to grow at a CAGR of 3.0% from 2021 to 2028.

Dairy components are commonly employed in different food items and drinks, like bakery items, frozen treats, confectioneries, dairy products, tea, coffee, and infant food, to act as stabilizers, thickening agents, and setting agents. They contain considerable amounts of protein, such as whey proteins and casein, which are significant protein sources. Dairy ingredients enhance the functionality of food and beverages and are also widely utilized in producing protein supplements that are popular among health-conscious consumers, fitness enthusiasts, and athletes.

Based on the application, the dairy ingredients market is segmented into food & beverage, personal care, and pharmaceuticals & nutraceutical. In 2020, the food and beverage sector had a larger market share, and it is experiencing rapid growth. The increasing demand for processed food and drinks is fueled by factors such as high per capita income, evolving dietary habits, and improved lifestyles. Nonetheless, due to the growing preference for convenient food items, consumers are increasingly seeking healthier options that provide functional benefits. Consequently, this trend is expected to drive the demand for dairy ingredients across the food and beverage industry.

The dairy ingredients market is categorized by region, including North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South and Central America (SAM). In 2020, Asia-Pacific had the most significant global dairy ingredients market share. The Middle East and Africa are anticipated to grow fastest during the forecast period. The Food and Agriculture Organization (FAO) reports that Asia produced 379 million tonnes of milk in 2020. China and India are the most prominent dairy product manufacturers in Asia-Pacific. The Asia-Pacific market's demand for dairy ingredients is increasing due to the economic growth of various countries, greater milk production, expansion of supply chain facilities, and strong government support to promote the dairy industry.

The leading players in the dairy ingredients market include Agropur, Arla Foods Ingredients Group P/S, Lactalis Ingredients, Frieslandcampina, Saputo Inc., Fonterra Co-Operative Group Limited, Kerry, Amco Proteins, Prolactal, and Glanbia Ireland, among other players.

Primary and secondary research determined the global dairy ingredients market's size. The research process commenced with comprehensive secondary research utilizing internal and external sources to acquire qualitative and quantitative data concerning the market. Additionally, multiple primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the dairy ingredients market. The primary interviews were conducted to validate the data and gain analytical insights.