The global dairy ingredient market size was worth around USD 63281.50 million in 2021 and is estimated to grow to about USD 95502.25 million by 2028

SUITE N202, NEW YORK, UNITED STATES, December 12, 2022 /EINPresswire.com/ -- The global dairy ingredient market was worth around USD 63281.50 million in 2021 and is estimated to grow to about USD 95502.25 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.1 percent over the forecast period. The report analyzes the Dairy Ingredient market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Dairy Ingredient market.

Dairy Ingredients have seen a massive rise in popularity as the focus on health and fitness has bolstered across the world and the Dairy Ingredient market is projected to see high demand over the forecast period as well. Increasing investments in bolstering Dairy Ingredient manufacturing infrastructure to meet the high demands of the growing population will boost Dairy Ingredient market potential.

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Rising consumption by increasing population, increasing demand for protein based foods, increasing use of protein supplements, and high use in multiple food sectors are some other factors that influence the Dairy Ingredient market growth potential through 2028.

Global Dairy Ingredient Market

However, the world has seen a rise in the popularity of veganism and this is expected to have a negative impact on the Dairy Ingredient market growth through 2028. Increasing demand for alternative products has resulted in high availability of other plant based products which are in turn driving a negative sales trend for the Dairy Ingredient. Dairy Ingredient companies are focusing on diversifying their offerings in order to keep up with the trend and avoid losses in the long run.

Multiple restrictions were put in place across the world and these resulted in multiple markets toppling and incurring losses. Dairy Ingredient market growth was also negatively impacted in this pandemic owing to restricted manufacturing activity, disrupted supply chains, drop in sales etc. The global Dairy Ingredient market experienced a major slump in 2020 owing to adverse market conditions due to lockdown restrictions across multiple countries.

However, as lockdown restrictions are lifted the Dairy Ingredient market is expected to make a steady recovery through 2028. The Dairy Ingredient market is expected to make a steady recovery in the post-pandemic era and see an increase in demand by the end of the forecast period as consumption of dairy products increases.

The global Dairy Ingredient market is segregated based on type, source, application, and region. Based on application, the global market is distinguished into Pediatric, Sports Nutrition, Medical Nutrition, Functional Food, Bakery, Confectionery, Dairy, Animal Feed, and Others. The global Dairy Ingredient market will be led by bakery and confectionery segments over the forecast period and these segments will account for a major revenue share through 2028.

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Asia Pacific region is expected to hold a dominant outlook in the global Dairy Ingredient industry landscape. Increasing consumption of Dairy Ingredient, rising focus on health and fitness, and the presence of key Dairy Ingredient companies are some of the major factors propelling the Dairy Ingredient market potential in the long run. India and China are expected to be the most noteworthy markets in this region throughout the forecast period owing to the rise in health and fitness trends and an increasing consumption chart to the growing population. Increasing veganism in this region is expected to be the major hampering factor for Dairy Ingredient market potential over the forecast period.

Key players functioning in the global Dairy Ingredient market include Nestle S.A., Fonterra Cooperative Group, Royal FrieslandCampina N.V., Arla Foods, Lactalis Group, Dairy Farmers of America Inc., Agropur Cooperative, Schreiber Foods Inc., Savencia S.A., Glanbia PLC., Gujarat Cooperative Milk Marketing Federation Ltd. (AMUL), Meiji Holdings Co., Ltd., Mengniu Dairy Co., Ltd., Megmilk Snow Brand Co., Ltd., Yili China, Saputo Inc., Kraft Heinz Company, Agropur Inc, Morinaga Milk Co., Ltd.

Recent developments:

In May 2021, FrieslandCampina International Holding B.V and Arabian Food Industries Company a major name in the Dairy Ingredient market of the middle east announced the signing of a joint venture that will solely focus on increasing the export of cheese to the middle eastern and African regions sighting the increasing consumption trends on these regions.

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Global Dairy Ingredient market is segmented as follows:

By Source

Milk
Whey
By Type

Milk Powder
Whey Protein
Milk Protein
Third- Generation Ingredient
Casein
Butter Milk Powder
Whey Permeate
Lactose
By Application

Pediatric
Sports Nutrition
Medical Nutrition
Functional Food
Bakery
Confectionery
Dairy
Animal Feed
Others
By Region

North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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