New York, US, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Milk Protein Market overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Milk Protein Market: Information by Type, Form, Application and Region - Forecast 2030, the market grew at a CAGR of 6.9%. This is expected to continue at least until the end of 2030. The market is expected to be worth USD 18.22 billion by then.
Market Scope:
The market for milk proteins is highly lucrative. For this reason, more and more businesses are venturing into the industry. Established firms are also encouraged to expand their sales and market share in both existing and new markets. Companies of all stripes are spending increasingly more on R&D to create cutting-edge innovations that are both technologically advanced and more healthful than their predecessors. They're also making great efforts to guarantee that the items taste well and complement the foods in which they're used.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 18.22 billion |
| CAGR | 6.9% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Form, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase In Health Consciousness |
| Rise In Demand for Nutrition-Rich Products In The Dietary Supplement Segment |
Competitive Dynamics:
- Royal FrieslandCampina N.V. (Netherlands)
- Fonterra Co-Operative Group Limited (New Zealand)
- Arla Foods amba (Denmark)
- AMCO Proteins (US)
- Saputo Inc. (Canada)
- Glanbia plc (Ireland)
- Kerry Group plc (Ireland)
- Havero Hoogwegt Group (Netherlands)
- Groupe Lactalis (France)
- Theo Müller Group (Germany)
Market USP:
Market Drivers
The rising demand for nutritious food is a major factor fueling the expansion of the worldwide Milk protein market. Particularly true for today's youth of the millennial generation (this demographic group comprises the majority of populations in developing nations where demand for concentrated milk tends to be higher.)
Those living in industrialized countries crave foods high in nutrients. Milk concentrates are needed for this purpose. The increasing demand for these products is also a major factor propelling the Milk protein industry forward. This expansion is being fueled by rising consumer demand for products fortified with the diverse array of milk-based proteins. We anticipate a continuation of moderate expansion through at least the year 2030. But the financial rewards from this sector are substantial. And that's why so many influential people are getting involved. Research and development, mergers, acquisitions, and joint ventures are all strategies that businesses are doing to maintain their market share and maintain their positions in the industry.
Manufacturers of milk protein concentrate components are investing extensively in R&D as the demand for nutritious foods that require milk concentrates increases. The goal is to create a superior flavor and nutritional profile for a new generation of milk protein concentrates.
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Market Restraints
In many parts of the world, particularly the industrialized, but also the emerging, nations, there is a great need for vegan-based cuisine. Also important to them is the availability of vegetarian-only options. Therefore, they are attempting to limit their intake of products containing milk concentrates. This sector of the market is expanding at a rapid rate, which is bad news for the international Milk protein industry. That is preventing the market for milk protein concentrate from expanding as rapidly as it could.
Promoting the health benefits of meals that include milk protein concentrates to the expanding vegan and vegetarian segments worldwide is a major issue for manufacturers in the global Milk protein market. If these producers can find a way to get beyond this obstacle, their market share and sales CAGR will skyrocket.
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COVID-19 Analysis:
China has recently presented the globe with its latest gift, the COVID-19 virus. There were reports of COVID-19 in March of 2020 in both large and minor publications around the world. Because it could be harmful to some and fatal to a small number of infected persons, governments reacted by instituting quarantines and lockdowns. Many sectors had to either completely close down or temporarily halt production. As a result, many of other sectors took a hit.
As a result of the spread of COVID-19, the worldwide milk protein industry took a major impact. They discovered there was a ceiling to what they could do. They also had trouble finding low-priced sources for the ingredients they needed to produce concentrated milk. These businesses had no choice but to charge their customers more to cover the unexpected increase in expenses.
Market Segmentation:
By Type
Whey protein concentrate was the most widely utilized milk protein in food goods. Whey protein concentrate accounted for almost 29% of all sales of milk protein concentrate.
by Form
Historically, the dry powder market has been the most lucrative. There has been little expansion in the solids market, but the liquids market has been expanding significantly.
By Application
Since more and more working mothers around the world opt not to breastfeed their infants, infant formula has risen in popularity. For this particular market, analysts predict a CAGR of 6.6% through 2025.
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Regional Analysis:
When it comes to market share, the European Union has always dominated. This is due to the fact that both Europeans and their governments place a premium on health. In 2030, this region's market on its own is predicted to be worth a total of USD 18.22 billion. Germany has been a driving force behind the expansion of the EU's milk protein market. This location has consistently shown to be the best for product sales.
There may be a market and utilization gap for milk protein concentrate products in the Asia-Pacific area. This may be changing, though, as the middle classes in both India and China expand and gain purchasing power. The middle classes in these countries seek to adopt Western eating habits, hence this region is projected to have the highest CAGR through 2030. However, the demand for these items is not limited to the middle class. Governments in these countries have made more of an effort to promote healthy diets, especially among the populace's youngest members. They have advocated for the inclusion of milk protein powders in food by manufacturers and agricultural producers.
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