NEWARK, Del, Jan. 10, 2023 (GLOBE NEWSWIRE) -- In 2023, the global casein market was worth US$ 2.7 billion. The market is predicted to increase at a CAGR of 6.3% from 2023 to 2033, reaching a value of US$ 4.9 billion by 2033.
Increasing industrial adoption of casein is driving casein market expansion over the forecast period. The growing relevance of protein in the diet is expected to boost casein market growth.
The growing global demand for protein-enriched foods is expected to drive casein market growth. This is due to increased awareness of the benefits of protein, such as weight loss and muscle gain.
Caseins are also becoming more popular in general nutrition due to their great ability to release amino acids gradually. Rising global cheese demand is expected to accelerate the expansion of the casein markets.
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Price Hikes for Raw Materials May Hamper Market Growth
Consumer preferences for plant-based protein over dairy-based protein are likely to limit the market growth of caseins. Another key restraining factor for the casein market is the variable supply of the product around the world, which is expected to further impede market expansion for casein.
Increasing manufacturing costs and raw material prices for the production of casein are expected to impede market expansion for casein during the forecast period.
Asia Pacific is Projected to Offer the Largest Casein Market Opportunity
The casein market is being driven by rising disposable incomes and increased consumer health consciousness. The market may benefit from the expansion of big firms in important emerging economies. In the Asia Pacific region, India and China give significant growth potential for the industry's leading producers.
The two countries' rising populations are assisting industry expansion in the Asia Pacific area, particularly in the pharmaceutical and food & beverage sectors. The Asia Pacific region's robust expansion is projected to have a beneficial impact on the global casein market.
The increasing number of R&D activities conducted by corporations and expanding developments in the industry are projected to move the industry forward.
Key Takeaways
- Through 2033, the flavoring agent market is expected to grow at a function-type CAGR of 6.2%.
- In terms of end-use over the forecast period, the market segment for food processing has the highest CAGR of 6.1%.
- By 2033, the United States market for casein may have climbed by 5.2% CAGR, reaching US$ 1.5 Bn.
- The United Kingdom market may have expanded at 5.5% CAGR by 2033, reaching US$ 228.5 million.
- China market might have developed at a 7.3% CAGR by 2033, expected to reach US$ 421.2 billion.
- Japanese market for casein is predicted to grow at a 5.7% CAGR by 2033, reaching US$ 355.8 billion.
- South Korean market for casein is expected to expand at a 6.7% CAGR by 2033, reaching US$ 198.5 billion.
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Competitive Landscape
Acquisitions and partnerships and collaborations were among the inorganic growth tactics observed in the market. With the increasing demand for casein in global market, market players are expected to benefit from attractive growth prospects in the future.
Nestlé, Danone, Arla Foods, Groupe Lactalis, Friesland Campina, Fonterra, and Westland Milk Products are among the market's significant participants.
Recent Developments
- Fonterra
The firm opened its new dairy ingredient plant in Heerenveen, the Netherlands, in February 2015. This new facility will manufacture whey and lactose specialty ingredients for use in paediatric, maternity, and sports nutrition products.
- Saputo
In May 2015, the company bought Lion-Dairy & Drinks Pty Ltd.'s daily cheese business in Australia. Warrnambool Cheese and Butter Factory Company Holdings Limited, the company's Australian affiliate, made the purchase (WCB). This acquisition will assist WCB in expanding its foothold in the Australian cheese products market.
Given Below are the Casein Market Segments
By Derivatives Type:
- Sodium Caseinate
- Calcium Caseinate
- Potassium Caseinate
By End-Use:
- Food
- Yogurt
- Cheese Processing
- Ready-to-eat Meals
- Dairy Products
- Coffee Whiteners
- Confectionary
- Sauce & Seasoning
- Meat Processing (Sausage)
- Meat Products
- Beverage
- Pharmaceuticals
- Infant Nutrition
- Clinical Nutrition
- Sports Nutrition
- Personal Care
- Skin Care
- Hair Care
- Cosmetics
- Agriculture/Animal Feed/Poultry
- Other Industries
By Function Types:
- Texturizing Agent
- Flavoring Agent
- Coating Agent
- Binding Agent
- Emulsifying Agent
- Heat Stabilizing Agent
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
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