Global Milk Protein Market - Forecast till 2025
The Global Milk Protein Market has seen the continued growth over the last few years and is projected to grow by USD 5,039.9 Million from the year 2018 to 2025 at a CAGR of 6.1%. The proteins insulated from milk, in the form of isolates, concentrates, or hydrolysates, are referred to as milk proteins. The growth of the global milk protein market can be ascribed to the increasing health consciousness among the global populace. Moreover, surging demand for nutrition-rich products is improving the sales of milk protein as an ingredient in various application industries. However, the rising adoption of veganism and high incidences of lactose intolerance are hampering the growth of the market. Additionally, fluctuations in raw material prices are a major challenge faced by the market players. Expanding application scope and development in developing economies are anticipated to offer vendors profitable growth opportunities. The adoption of veganism is growing across the world, especially in the US and the UK. According to the Food Revolution Network, the number of vegans in US increased by approximately 600% between 2014 and 2017. Similarly, the number of vegans in the UK increased by approximately 350% from 2014 to 2017. Milk protein is an animal-based product; therefore, vegans refrain from consuming it. Thus, the demand for plant-based protein is likely to increase at an exponential rate as compared to milk protein during the review period, thereby, restraining the growth of the market. The adoption of healthy lifestyles is rapidly rising among consumers. Furthermore, consumer awareness regarding the nutritional content of milk protein is improving with the increasing availability of milk protein-based products. Protein is necessary for the development of the body, especially for body maintenance and repair and replacement of worn-out or damaged tissues. According to the Food and Agriculture Organization (FAO), the safe amount of protein consumption by an adult of either gender of all ages or body weight is 0.75 grams per kilogram per day.
The demand for milk protein has improved owing to the upsurge in the consumption of protein-rich products by the health-conscious population. Hence, vendors of milk protein can endorse their products using various health claims, which, in turn, is driving the growth of the market. Additionally, growth in the number of people with poor metabolic health in numerous developed and developing nations, such as the US and China, is a key factor improving the demand for milk protein in various dietary supplements. The global milk protein market has been segmented on different basis. Based on type, the market has been divided into the milk protein concentrate (MPC), milk protein isolate (MPI), milk protein hydrolysates (MPH), casein & caseinates, whey protein concentrate (WPC), whey protein isolate (WPI), and others. The whey protein concentrate (WPC) segment dominated the market with a share of nearly 29% in 2018. Based on form the global market has been divided into dry and liquid. The dry segment as take over the market in the year 2018. Though, the liquid segment is anticipated to register a higher CAGR during the forecast period. Based on application, the market has been split into dairy products & frozen desserts, infant formula, dietary supplements, bakery & confectionery, beverages, sweet & savory snacks, and others. The dairy products & frozen desserts segment has been subdivided into cheese, yogurt, ice cream, and others. The infant formula segment is expected to register the highest CAGR of 6.6% during the forecast period of 2019 to 2025.
Global Milk Protein Market has been segmented by type, by form, by application and by region. By Type the market has been segmented into Milk Protein Concentrate (MPC), Milk Protein Isolate (MPI), Milk Protein Hydrolysates (MPH), Casein & Caseinates, Whey Protein Concentrate (WPC), Whey Protein Isolate (WPI) and Others. By Form the Global Milk Protein Market has been segmented into Dry and Liquid. Based on application the Global Milk Protein Market has been segmented into Dairy Products & Frozen Desserts (sub-segmented into Cheese, Yogurt, Ice Cream and Others), Infant Formula, Dietary Supplements, Bakery & Confectionery, Beverages, Sweet & Savoury Snacks and Others. Geographically, the Global Milk Protein Market has been segmented into different regions like North America (US, Canada and Mexico), Europe (Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand and Rest of Asia-Pacific) and Rest of the World (Africa, Middle East and South America).
The global milk protein market has been segmented into different regions like North America, Europe, Asia-Pacific, and the rest of the world. Europe dominated the global milk protein market in 2018. The regional market is expected to grow by USD 1,675.1 million from the year 2018 to 2025. Germany is projected to be a substantial country-level market, supporting to the growth of the European milk protein market. The market in Asia-Pacific is projected to register the highest CAGR during the forecast period owing to the growing health awareness among the consumers in the region.
The proposed spectators in the Global Milk Protein Market are huge corporates, SMEs, distributors and wholesalers, Investors and trade experts, Governments, associations and industrial bodies, etc. The major companies functioning in the Global Milk Protein Market are concentrating on firming their global ways by entering into untouched markets. The projected onlookers in the Global Milk Protein Market are Milk protein manufacturers/dealers, Food & beverages manufacturers, Research institutes and organizations and Traders, importers, and exporters. Royal FrieslandCampina N.V. (Netherlands), AMCO Proteins (US), Glanbia plc (Ireland), Kerry Group plc (Ireland), Havero Hoogwegt Group (Netherlands), Groupe Lactalis (France), and Theo M?ller Group (Germany), Fonterra Co-Operative Group Limited (New Zealand), Arla Foods amba (Denmark), Saputo Inc. (Canada) are some of the major players in the Global Milk Protein Market.