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Dairy Ingredients Market Projected to Garner Significant Revenues by 2025

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Dairy Ingredients Market Projected to Garner Significant Revenues by 2025

December 17
14:11 2020
Dairy Ingredients Market Projected to Garner Significant Revenues by 2025

MarketsandMarkets™
The increasing consumption of convenience food, rise in health consciousness, and multifunctionality of dairy ingredients (leading to their wide applications) drive the growth of the dairy ingredients industry.

The report Dairy Ingredients Market by Type (Proteins, Milk Powder, Milk Fat Concentrate, Lactose & Its Derivatives), Application (Infant Formulas, Sports Nutrition, Dairy Products), Livestock, Form, and Region – Global Forecast to 2025″, The global dairy ingredients market is estimated to be valued at USD 53.8 billion in 2019 and is projected to reach a value of USD 81.4 billion by 2025, growing at a CAGR of 7.1% during the forecast period. Rise in consumption of ready-to-eat and functional foods, complemented by the versatile application of dairy ingredients, and increased consumer awareness on healthy eating among consumers, have been driving the global dairy ingredients market.

Dairy Ingredients Market

The milk powder segment is estimated to witness the largest growth in the dairy ingredients market, in terms of value, in 2019

The rise in health awareness among consumers has resulted in the high demand for low-fat and healthy food and beverage options. Milk powder, being one of the main ingredients in such food recipes, translates a high growth potential for the dairy ingredients market. Dairy ingredients, as a substitute to milk, provide richness to food products and has a longer shelf life than milk. Thus, food manufacturers prefer dairy ingredients over conventional dairy products.

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The dry form segment is estimated to account for a larger market share among the different forms of the dairy ingredients, in terms of value, in 2019

The dry form of all types of dairy ingredients is preferred by food manufacturers, owing to the ease in transportation in comparison to the liquid form. Even the cold storage cost for the dry form is lesser, which further reduces the final cost of the product. Dried format of dairy ingredients also has a longer shelf life and is easy to handle, thereby increasing the demand for dry ingredients among the manufacturers.

By livestock, the cows segment is projected to dominate the dairy ingredients market during the forecast period.

By livestock, the cows segment is projected to account for a larger share in the dairy ingredients market during the forecast period. This is due to the large population of cows, globally, which leads to increased milk production. The other livestock-based dairy ingredients are highly region-specific, and hence, the market is limited globally. Also, the extraction of dairy ingredients from cow milk is comparatively easier and cheaper than from other sources.

The increasing demand for dairy ingredients in Asia Pacific is driving the growth of the dairy ingredients market.

The rise in the population and inclination toward the healthy lifestyle among the people in Asia Pacific have created the demand for functional and fortified foods in the region. Also, development in the economies and increase in disposable income have led the consumers to invest in health-related products and services. These factors have been driving the dairy ingredients market in the region.

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Key Market Players:

Key players in this market include FrieslandCampina (The Netherlands), Groupe Lactalis (France), Arla Foods (Denmark), Saputo (Canada), Fonterra Co-operative Group (New Zealand), Dairy Farmers of America (US), Kerry Group (Ireland), Ornua (Ireland), AMCO Proteins (US), Prolactal (Austria), Valio (Finland), Glanbia (Ireland), Hoogwegt Group (The Netherlands), Batory Foods (USA), Ingredia SA (France), Agropur (Canada), and Euroserum (France). Major players in this market are focusing on increasing their presence through new product launches, expansions & investments, mergers & acquisitions, partnerships, collaborations, and agreements. These companies have a strong presence in North America and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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