the “Dairy Protein Market by Type, Application, and Form: Global Opportunity Analysis and Industry Forecast, 2021-2027” the report was added to ResearchAndMarkets.com from offer.
The global dairy protein market size was $ 9.9 billion in 2019 and is expected to reach $ 15.3 billion by 2027, with a CAGR of 4.6% during the forecast period.
The market is expected to show an additional revenue opportunity of $ 5.4 billion from 2019 to 2027. Dairy proteins such as whey protein, casein and its derivatives, and milk protein concentrates are widely consumed in industries such as as food and drink, nutrition, animal feed, cosmetic and textile personal care. Their versatile nature and functionalities such as thickening, binding, gelation and texturing have led to their wide adoption in these application industries.
The growth of the dairy protein market is propelled by the increasing demand for nutritional foods in the market. Due to the increased awareness of health and nutritional food products, people are ultimately turning to healthy eating and increasing their protein intake, using protein supplements, thus fueling the growth of the dairy protein market.
The busy lifestyle and increasing participation of women in the workforce has contributed to their focus on nutritional supplements for their babies, which are offered by infant formula. Milk protein is one of the main components of infant formula, which is likely to drive the demand for milk protein in the future.
Protein supplements and protein food products are still in their infancy in various parts of Africa such as Zimbabwe, Liberia, Eritrea, Burundi and various other developing regions. These are still unexploited, which represents a great opportunity for manufacturers of dairy proteins.
The dairy protein market is segmented on the basis of types, application, form, and region. By type, it is classified into casein and derivatives, whey protein and milk protein concentrate. Whey protein is the most preferred choice of dairy protein by consumers due to its high protein content and functionality.
The whey protein segment was valued at $ 5.0 billion in 2019 and is expected to grow at a CAGR of 4.2% from 2019 to 2027, reaching $ 7.4 billion by 2027. The whey segment Casein and its derivatives is expected to be the fastest growing segment during the forecast period. This is attributed to its growing demand due to the versatility of its applications in the food and beverage, nutrition and personal care industries.
Based on the application, it is classified into food and drink, nutrition, personal care and cosmetics, animal feed and others. The food and beverage segment dominated the dairy protein market in 2019 and is expected to grow at a CAGR of 4.2% during the forecast period. This segment is expected to reach $ 6.8 billion by 2027. The nutrition segment is expected to be the fastest growing segment during the dairy protein market forecast. The growing awareness of the benefits of nutritional supplements among consumers in developing countries is likely to boost the nutritional applications segment in the dairy protein market.
On the basis of shape, the solid segment held a significant share of the global market in 2019. However, the solid segment is expected to grow at a higher CAGR, due to the increase in consumers’ inclination towards a solid shape of products. Also, due to its better stability and ease of handling and storage, compared to the liquid form, it is likely to remain dominant during the forecast period.
The major players described in this report are Kerry Inc, Arla Foods Inc., Archer Daniels Midland Company, Fonterra Co-Operative Group (Fonterra), Lactalis Group, Cabot Creamery, Royal Frieslandcampina, Dana Dairy Group, Schreiber Foods and Saputo.
Increased demand for protein as nutritional and functional ingredients
Consumer awareness of healthy eating
Increased demand for infant formula
Main topics covered:
Chapter 1 Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Dairy Protein Market, By Type
Chapter 5: Dairy Protein Market, By Form
Chapter 6: Milk Protein Market, By Application
Chapter 7: Dairy Protein Market, By Region
Chapter 8: Competition Landscape
Chapter 9: Company Profiles
For more information on this report, visit https://www.researchandmarkets.com/r/rr63lr
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210526005526/en/
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