Milk ingredients are the type of ingredients rich in essential nutrients. Milk ingredients are of various types including casein, lactose and milk protein concentrate and milk protein isolates. Milk has a relatively limited shelf life, but its ingredients possess relatively longer shelf life. Milk ingredients are used in various applications such as in supplementary foods and ready to use foods. Various milk ingredients such as casein and caseinates are rich in protein and amino acids which have various health benefits associated with its consumption.
Milk Ingredients Market Segmentation
The milk ingredients market is expected to experience noticeable growth in the forthcoming years owing to the rising demand for the protein rich food products among consumers Global milk ingredients market is segmented on the basis of ingredients type, application and region. Based on the ingredients type segmentation includes milk powder, casein and caseinates, milk protein concentrates and isolates and others. Of which milk powder is expected to be the dominating segment, followed by casein and caseinates. Milk powder is expected to contribute maximum revenue during the forecast period owing to the rising baby boomer population coupled with expanding pharmaceutical industry. However, caseine and caseinates are expected to witness remarkable growth in the coming four to five years. On the basis of application milk ingredients market is segmented into dairy products, ice-cream, beverages, infant formula, food supplements, sports products and others. Among all the application sub segment, dairy products sub segment is expected to contribute highest market share followed by beverages sub segment. However infant formula sub segment is expected to experience fastest growth in the next four to five years due the rising baby boomer .Global milk ingredients market is segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
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Milk Ingredients Market: Region-wise Outlook
The global milk ingredients market is expected to witness significant growth over rising number of health conscious consumers coupled with rising consumption of beverages, dairy, infant milk formula and functional food. Globally, among all regions, Western Europe is expected to contribute highest market share, followed by North America over the forecasted period. However Asia Pacific is anticipated to experience the highest growth in the coming years owing to the rising consumer awareness related to the specialty nutrition sector which eventually results in growing market for milk ingredients.
Milk Ingredients Market: Drivers
Various factors that promotes the growth of milk ingredients market includes rising levels of health conscious consumers coupled with growing baby boomer population. The milk ingredients market growth is primarily attributed to the expanding end user industries. Other factors that are also expected to support the growth of milk ingredients market is increasing desire of consumers to consume various food products that contain milk ingredients functional food, beverage, dairy, meat products, and infant milk formulas. Furthermore, rising disposable income of the consumers coupled with increasing consumer’s inclination to pay premium price for food products with various health benefits is a key driver of the overall milk ingredients market. Major factor that is expected to restraint the growth of the milk ingredients market is lack of consumer awareness related to the various fortified products that includes various type of milk ingredients.
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Milk Ingredients Market: Key Players
Companies operating in milk ingredients market include Adams Food Limited, Danone SA, Fonterra Co-operative Group, Glanbia plc, Dairy Farmers of America, Arla Foods Ingredients Group P/S, Friesland Campina, and Cayuga Milk Ingredients. Companies operating in the milk ingredients market are continuously launching the various types of ingredients in order to cater to the evolving needs of the consumers and also to grab the maximum market. Moreover, companies are focused towards entering the new markets by expanding the distribution network.