Dairy Ingredients Market is Expected to Reach 66.11 Billion USD by 2022

The Asia Pacific region is projected to be the fastest-growing dairy ingredients market. The economic growth of the countries in this region and also the growing awareness among consumers about the importance of high-quality nutrition from dairy ingredien

(EMAILWIRE.COM, March 13, 2019 ) The report Dairy Ingredients Market by Type (Milk Powder, Whey Ingredients, MPC & MPI, Lactose & Its Derivatives, Casein & Caseinates, Milk Protein Hydrolysates), Source (Milk and Whey), Nature, Application, and Region - Global Forecast to 2022", The dairy ingredients market is projected to reach a value of USD 66.11 Billion by 2022, at a CAGR of 5.61% from 2016. The market is driven by factors such as a rise in awareness about the health benefits of nutritional food products, along with economic growth and an increase in disposable income in developing nations, especially in the Asia-Pacific region.

The application of dairy ingredients in dairy products segment was the largest in 2015.

Dairy products accounted for the largest share in the application of dairy ingredients in 2015. Dairy ingredients are used in almost all dairy products for enhancing the nutritional content, flavor, and other benefits from dairy ingredients such as emulsification and solubility. Owing to which, the application of dairy ingredients is extensive in dairy products.

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Milk powder accounted for the largest share by type, in the dairy ingredients market in 2015

On the basis of type, milk powder accounted for the largest share in the dairy ingredients market in 2015. The milk powder segment dominated the market, owing to its less moisture content, which contributes to the higher shelf life of the product. The growth in the infant food market is another key factor that fueled the growth of this segment.

Asia-Pacific dominated the dairy ingredients market in 2015

The Asia-Pacific region accounted for the largest market share in the dairy ingredients market in 2015. In Asia-Pacific, China had the largest market share in 2015. Improvement in the living standards of the Chinese, growth in the infant formula industry and an aging population are the factors that drive the growth of the Chinese dairy ingredients market. India is projected to grow at the highest CAGR during the forecast period.

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The major restraining factor for the dairy ingredients market is the availability of alternative products such as plant protein.

Dairy ingredients possess various characteristics that offer superior functional benefits such as flavor enhancement, emulsification, viscosity building, solubility, water binding, and bulking. The selection of a dairy ingredient depends on the desired composition of certain milk constituents, such as fats, carbohydrates, proteins, and minerals, in a given food product. A proper understanding of functional properties and characteristics of various dairy ingredients allows food & beverage formulators to meet consumer demands.

The dairy ingredients market is characterized by companies such as Fonterra Co-operative Group Limited (New Zealand), FrieslandCampina (Netherlands), Arla Foods, (Denmark), Devondale Murray Goulburn (Australia), Groupe Lactalis (Germany), Volac International Limited (U.K.), and Dairy Farmers of America (U.S.). These companies are striving to increase their production capacities and increase their geographical presence. Acquisitions & mergers was an active strategy adopted by companies such as FrieslandCampina (Netherlands), Groupe Lactalis (Germany), Arla Foods (Denmark), Murray Goulburn Co-operative Co. Limited (Australia), and Saputo Inc. (Canada). The key players strengthened their positions in existing markets and increased their presence through these activities. Acquisitions & mergers also helped the companies in enhancing and expanding their product portfolios.