The Milk Protein by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Milk Protein , The milk protein market size has grown strongly in recent years. It will grow from $12.64 billion in 2023 to $13.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to research and development in nutritional science, rising health and wellness trends, growing demand for sports nutrition, functional food and beverages growth, shift towards plant-based alternatives.
The milk protein market size is expected to see strong growth in the next few years. It will grow to $18.86 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to changing dietary patterns, sustainable production practices, research and development in nutritional science, innovation in plant-based alternatives, expanding functional food and beverage market, rising application in infant formula.. Major trends in the forecast period include rising demand for high-quality protein sources, research and development in nutrition science, customization and specialty products, technological advancements in processing, sustainability concerns and ethical consumption.
The rise in infant birth rate is expected to propel the milk protein market growth. The total number of births divided by the entire population is known as the infant birth rate. It is a demographic measure of the rate at which births occur. The rising birth rate would necessitate meeting the nutritional needs of infants, and milk protein would aid in meeting the nutritional needs of children, driving the market growth. For instance, in May 2022, according to the CDC (Centers for Disease Control and Prevention), a US-based national public health agency, the birth rate increased by 1% for the first time in seven years, from 55.6 in 2020 to 56.6 in 2021. Therefore, the rise in infant birth rate drives the growth of the milk protein market.
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The milk protein market covered in this report is segmented –
1) By Type: Milk Protein Concentrate, Milk Protein Isolate [MPI], Milk Protein Hydrolysates, Casein And Caseinates, Whey Protein Concentrate, Whey Protein Isolate, Other Types
2) By Form: Dry, Liquid
3) By Livestock: Cow, Buffalo, Goat
4) By Application: Dairy Products, Frozen Desserts, Infant Formula, Dietary Supplements, Bakery, Confectionery, Beverages, Sweet, Savory Snacks
5) By Distribution Channel: Online, Offline
Top Major Players:
- Royal FrieslandCampina N.V.
- Fonterra Co-operative Group Limited
- Arla Foods amba
- Amco Proteins Company.
- Saputo Inc.
North America was the largest region in the milk protein market share in 2023.
Product innovation is a key trend in the milk protein market. Major players in the milk protein market are concentrating on creating new technological advancements to improve their competitiveness. For instance, in September 2022, Arla Foods, a Danish-Swedish multinational cooperative based largest producer of dairy products, launched a Lacprodan ISO, a new solution for protein bars. It has unique properties such as, it is made of high-quality protein, having low sugar, and higher protein content, and using premium ingredients. It is a ready-to-mix product that comes with whey protein isolate and dairy proteins and is expected to use a sugar-free alternative that helps individuals to tolerate those who experience digestive disturbances.
The milk protein market report table of contents includes:
1. Executive Summary
2. Milk Protein Market Characteristics
3. Global Milk Protein Market Trends And Strategies
4. Milk Protein Market – Macro Economic Scenario
5. Global Milk Protein Market Size and Growth
…….
26. Global Milk Protein Market Competitive Benchmarking
27. Global Milk Protein Market Competitive Dashboard
28. Key Mergers and Acquisitions In Milk Protein Market
29. Milk Protein Market Future Outlook and Potential Analysis
30. Appendix
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