May 14, 2020 12:16 PM ET
iCrowd Newswire – May 14, 2020
The Global Dairy Protein Market is estimated to grow at a CAGR of 5.6% during the forecast period 2019-2026. As per the detailed market study, the global market was valued $9.93 billion in the year 2019 and is expected to reach $14.54 billion by the end of the year 2026.
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Dairy proteins are multipurpose and potential ingredients that are used in the preparation of a wide range of food products. It offers numerous beneficial bioactivities and functionalities in food processing in the form of foaming agents, carriers, texture modifiers, gelling agents and thickening agents. Dairy proteins are used in wide range of applications across textiles, animal feed, personal care and nutrition industry. Casein and Whey proteins are the most widely consumed protein supplements by consumers.
The Global Dairy Protein Market is driven by various growth factors such as increasing consumer awareness related to healthy diet and growth in demand for protein as functional and nutritional ingredients. However, growth in demand for infant formula will act as a growth hindering factor of the global dairy protein market. Whereas, increasing focus of government organizations and private players in R&D activities with a focus to provide aroma, flavour and extra benefits through dairy protein act as a lucrative market opportunities.
Segmentation Overview of the Global Dairy Protein Market
The Global Dairy Protein Market is segmented on the basis of Type, Application and Form. These major market segments are further categorized into various sub-segments to study the market in detail. The overall market study offers detailed analysis of various market edges for the forecast period.
The Type Segment of the Global Dairy Protein Market is Sub-Segmented into:
- Casein & Derivatives
- Whey Protein
- Milk Protein Concentrate
The Application Segment of the Global Dairy Protein Market is Sub-Segmented into:
- Food & Beverages
- Personal Care & Cosmetics
The Form Segment of the Global Dairy Protein Market is Sub-Segmented into:
Geographical Overview of the Global Dairy Protein Market
On the basis of geographical segmentation, the global dairy protein market was studied across North America (U.S., Canada and Mexico); Europe (Germany, UK, Russia, France and Rest of Europe); Asia Pacific (China, India, Japan, Korea and Rest of Asia Pacific); LAMEA (Brazil, Saudi Arabia and Rest of LAMEA). As per the analysis, the North America dairy protein market dominate the global marketplace in the year 2019. The region contributed ~1/3rd of the market share in the global marketplace. Analysing the regional marketplace, the North America dairy protein market growth is attributed to large consumer base in the U.S., and increasing focus of healthy lifestyle among others. Whereas, on the other hand, the Asia-Pacific dairy protein market is estimated to grow at fastest growth rate with highest CAGR of 7.2% during the forecast period, owing to increasing awareness related to usage and benefits of protein supplements.
Key Players Insights
Saputo, Dana Dairy Group, Schreiber Foods, Cabot Creamery, Royal Frieslandcampina, Fonterra Co-Operative Group (Fonterra), Groupe Lactalis, Arla Foods Inc., Archer Daniels Midland Company and Kerry Inc. are some major players included in the research study of the global dairy protein market.
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Keywords: Dairy Protein Market, Dairy Protein Market Size, Global Dairy Protein Market