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The global dairy ingredients market consists of various ingredients, such as milk powder, whey ingredients, casine & casinate, lactose & derivatives, and others that have significant use in industries, including food & beverages, pharmaceutical, neutraceutical, and animal feed. These dairy ingredients come in two forms: powdered and liquid; they are sourced from various livestock, including cows, buffaloes, and others.
One significant factor driving the demand for dairy ingredients is rising healthy ingredient consumption. The increasing awareness of a healthy lifestyle and diet is fueling the global market growth. The dairy ingredients are made from milk and are known for providing nutrition; thus, they have extensive application across different industries. These dairy ingredients are rich in calcium and other nutritional elements, therefore making them ideal for products made for bone health, the immune system, and other factors.
Global food consumption patterns have shown a rapid shift in recent years owing to the increasing prevalence of health issues, such as obesity and the rising aging population. Now, individuals are more inclined toward the consumption of a protein-based diet. Furthermore, increasing awareness of the health benefits of consuming whey and other milk products further contributes to global market growth. In addition, the increase in milk production and the rapidly growing dairy industry will further fuel the global market growth in the coming years. For instance, as per the Food and Agriculture Organization (FAO), in 2022, India ranked first in global milk production, accounting for 24% of global milk production. In addition, as per the FAO, milk production in India has increased around 50% since 2015.
However, the rising awareness of animal cruelty and sustainability has been challenging the growth of the dairy industry. Additionally, the growing awareness of animal cruelty leads to the increasing demand for the dairy alternative market, which is said to restrain the development of the global dairy ingredients market over the forecast period. The plant-based product range has shown exponential growth in recent years, and these products are said to be an alternative to milk and milk products.
Furthermore, the global dairy supply chain saw a significant impact due to the pandemic. The pandemic created a substantial bottleneck with sudden global trade restrictions and lockdowns, restraining global transport and logistics. Furthermore, rising global awareness toward a healthy diet caused an increase in the demand for protein products, which caused a rise in the global supply chain gap, resulting in increased prices on a global scale.
By Product Type | By Form | By Livestock | By End Use | By Geography |
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The product type segment includes milk powder, casein & caseinates, whey ingredients, lactose & derivatives, and others. The milk powder segment holds a significant global market share owing to its varied application across several industries. In addition, milk powder products have a longer shelf life and are highly used in nutraceutical products, thus contributing to a higher global market share.
However, the whey ingredients segment is expected to show the highest CAGR across regions owing to the rapidly growing demand for protein products with the increasing number of fitness enthusiasts. In addition, post-pandemic, the global market for whey protein has shown rapid growth with a rise in awareness toward healthy diets and improved healthy lifestyles, especially in the Asia Pacific region.
There are two forms of dairy ingredients, powdered and liquid, from which the powdered segment accounted for the highest share in the global market. This dominant share of powdered form is due to higher milk and protein powder consumption. Furthermore, the increasing new product development and launch of whey protein products across the globe will further fuel the segment growth.
The livestock segment includes cows, buffaloes, and others. The cow segment accounted for the highest share in the global market owing to the higher share of cows in global milk production. Moreover, the high population of cows and the comprehensive supply of cow milk contribute to the dominance of the cow segment in the global dairy ingredients market. For instance, as per the International Dairy Federation, cow milk holds a share of around 81% of global milk production.
The end-use channel segment includes food & beverage, pharmaceutical, neutraceutical, and animal feed. The food & beverage industry holds a significant share of the global market owing to the substantial consumption of functional food products across the globe. However, the neutraceutical segment is expected to have the highest CAGR over the forecast period due to the increasing global demand for health and wellness products.
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The global market is geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific holds a dominant share of the global market owing to the presence of high milk-producing countries, such as India, China, and others, making the region a leading milk-producing region. In addition, the higher birth rate and low death rates in certain countries of the region fuel the demand for the pharmaceutical and neutraceutical industry, further contributing toward the higher share of Asia Pacific in the global market. In addition, the region has shown a rapid change in consumption patterns among individuals with strong demand for the good-for-you product range, and the launch of protein-induced products has fueled the demand for dairy ingredients in this region and shall contribute toward its growth over the forecast period.
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