In terms of revenue, the Global Dairy Ingredients Market is expected to reach 93.72 USD Million by 2028, growing at a CAGR of 6.90% from 2022 to 2028. The rise in consumption of ready-to-eat and available foods, completed by the adaptable application of dairy components, and increased customer awareness on healthful eating among customers, have been driving factors for Dairy Ingredients Market.
- Under the types segment milk powder sub-segment is anticipated to dominate the segment for Dairy Ingredients Market and grow at a substantial CAGR. The milk powder is a natural substitute for fluid milk; therefore, used in various applications, like bakery, dairy, and baby nutrition.
- The bakery and confectionery sub-segment held a market significant share in 2021. This is the fastest segment growing in Dairy Ingredients. Mainly attributed to the factors like increasing per capita usage of bakery and confectionery products and increasing approval of sugar-free, nutritional, and functional ingredient-based bakery products throughout the world.
- Asia Pacific is the largest regional segment. This is expected as it accelerated the financial growth of many nations in this region with increased industrialization and disposable income and growing facilities in the region.
Some of key players in Dairy Ingredients Market includes, 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 (US) and Ingredia SA (France).
With the world’s increasing population, the need for food products is anticipated to grow. The factors driving the need for healthy food are the growing incidence of infections in the population and the rising aging population. Dairy ingredients are a major component of nutritious food and supplements. It is utilized in probiotic foods, protein supplements, and in a diverse range of food products such as yogurt, fermented beverages, and savory. Thus, is anticipated to drive the development of the dairy ingredients market.
Dairy and its associated industries are encountering considerable growth in growing and arising economies, particularly in Asia and Latin America. Also, the creative partnerships developed between organizations and agencies of various countries are driving the market development of dairy ingredients. Like, the U.S. Dairy Export Council and China’s Jignana University seek to improve the U.S. dairy exports to China by delivering traditional products of China, especially concentrating on dairy protein products. Besides, enterprises taken by key players to improve production in the future are anticipated to deliver substantial growth prospects in the market.
Asia Pacific is expected to emerge as potential market for Dairy Ingredients Market. High-concentrate components, like whey proteins and milk protein isolates, are mainly utilized in developed countries. Growth in disposable incomes, along with a steady increase in the toddler and infant population is expected to benefit the regional dairy ingredients market.