Growing research attention on milk proteins as they are being increasingly recognized to have high nutritional qualities are anticipated to provide opportunities to the global milk protein market.
Milk proteins are attracting considerable financial investment, R&D attention, and interest in the so as to meet the nutritional needs and food demands of the population world over. Milk proteins are transforming nutrition and health leading to optimal growth and developments of infants, age group above 55, athletes and the other age group. Moreover, milk proteins acting as an important immunity builder during the Covid-19 era is booming the global milk protein market worldwide. As a result to the current industry trends the global milk protein market is projected to reach close to USD 18.02 Bn by 2028 with an annual growth rate of 6.7% from 2021 to 2028.
Whey protein is usually used a health supplement as it has potential sustainability and nutrition-related benefits. Whey protein and casein is classed under milk protein and is highly consumed by athletes, added in infant food, and health conscious consumers. Whey protein is considered as high-quality, or complete protein as contain the highly essential amino acids for the body.
The current industry trends state that the global milk protein market is attractive and presents tremendous opportunities to the market players. Factors such as increasing world population, improvements in economic conditions, health awareness, and rising research & development initiatives, and current industry trends are driving the global milk protein market growth.
Moreover, milk protein concentrate and dairy product being increasingly recognized to have high nutritional qualities than the other protein sources is another key reason driving the market growth. Although there are many potential benefits of the milk proteins to the consumers and investment benefits to the firms, there are several challenges to commercialization and market uptake of milk protein likely to hamper the market growth. Furthermore, shift to nutritional & healthy diets, new market strategies adopted by market players is anticipated to be an opportunity to the global milk protein market.
The Adroit Market Research Report provides a global coverage of the global milk protein market with 2018-2020 as historical years, 2020 as base year, and 2021-2028 as forecast years. The report studies the market for milk proteins in the selected regions, countries, and segments. It assesses the global milk protein market by collecting primary and secondary data. For secondary data experts, executive, and stakeholders working in the field of global milk protein market are interviewed. The report identifies the key insights into the different segments, prioritizes key geographies, sheds light on key events, ability of milk protein to scale, and opportunities and challenges for commercialization of milk protein concentrate and dairy product. Furthermore, the report assesses the current market situation of diary product and industry trends shaping the market. Estimate of market sizes for different market segments is given in the report.
The competitive landscape of global milk protein market is fierce with existing and new players racing to strengthen their position in the market. The companies are launching new whey protein based products that are expecting to launch their products by end of 2020 or in January 2022. The manufacturers are pursing different strategies such as partnerships with large, multinational corporations that can help create more efficient manufacturing processes and distribute their products on a larger scale. In this way the companies are expanding capabilities to scale milk proteins and launch in broader geographic markets.
Depending on type, the market is classified into key segments namely milk protein concentrate, casein, whey protein concentrate, and others. The casein and whey protein concentrate dominated the market share in 2020 and see a stable growth in the future years. Whey protein and casein are highly consumed by athletes, infant food, and health conscious consumers. Whey protein and casein are considered as high-quality proteins as they contain the essential amino acids which are the key reasons driving growth of then segments in global mil protein market.
Depending on application, the market is classified into key segments namely dairy products, infant formula, dietary supplements, and others. The infant formula and dietary supplements accounted for maximum market share as they transform nutrition and health leading to optimal growth and developments.
The North American region witnessed the largest market growth in the global milk protein market due to increasing consumption of dairy products in countries of North America. The growth is likely to be driven by a variety of factors, including new commercialization and packaging tactics, dietary guidelines, government health programs aimed at increasing consumption of high- protein foods.
Also, APAC is becoming a significant contributor to milk proteins consumption due to growing awareness of the importance of incorporating exercise into their daily lives. Also, infant formula, sports nutrition and dairy beverages are the key factors of growth of milk proteins consumption and market growth in APAC.
The global milk protein market producers and manufacturing companies are Saputo, Glanbia, Arla Foods, Kerry, Frieslandcampina, Havero Hoogwewt, Fonterra, Sachsenmilch Leppersdorf, Lactalis, and Amco Protein among others.
Key Segments of the Global Milk Protein Market
Type Overview, 2018-2028 (USD Billion)
- Milk protein concentrate
- Whey protein concentrate
Application Overview, 2018-2028 (USD Billion)
- Dairy products
- Infant formula
- Dietary supplements
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa