This study intends to unfurl the multiple facets of global milk protein market and thereby examine how the short-term growth of the market will unfold during the stipulated time span.
Consistently Rising Demand for High-protein Products Bodes Well for Milk Protein Market
Growing protein consumption to obtain additional nutrients from protein supplements, and an increase in the global birth rate is expected to facilitate the growth of milk protein market in the next years. Furthermore, increased working-women population, and milk yield are expected to boost the growth of milk protein smarket during the forecasted years. Consumers are more likely to take whey and casein proteins as protein supplements, fueling demand for the dairy protein industry. Consumer perception of the high nutritional content of infant formula due to their children's health consciousness encourages development in infant formula consumption manufactured using dairy proteins. Furthermore, consumers' busy and chaotic lifestyle has resulted in the population's poor metabolic health, particularly in industrialized and developed nations. The expanding spectrum of applications, and increased awareness of the health benefits of dairy protein in emerging markets will thus provide manufacturers with lucrative growth potential.
In recent years, global milk protein market has been primarily driven by rising healthcare awareness and customer desire for nutritional and healthy diets. Furthermore, consumer perception of the high nutritional content of newborn formula due to their children's health concerns drives the development in infant formula consumption manufactured from dairy proteins. Organizations such as the FDA, and dairy ingredient manufacturers are conducting research and development to improve the attributes of dairy protein components such as flavor, fragrance, and performance. For instance, in June 2021, Irish food ingredients company Kerry Group acquired all the outstanding shares of Tianning Flavor& Fragrance Co. Ltd., expanding Kerry’s global reach towards the east as a supplier in China. This is expected to present chances for manufacturers to offer a more diverse range of dairy protein components to gain a larger market share.
Increase in Demand for Protein as a Functional Ingredient Fuels Milk Protein Market Growth
The components of bones, skin, muscles, and blood are proteins. Protein is needed by the human body to make hormones, enzymes, and other bodily substances. Due to growing public knowledge of healthcare issues and concenrs about obesity, protein supplements are now widely used. To get additional nutrients from protein supplements created with dairy protein, consumers are shifting their attention to nutritious and balanced meals and consuming more protein, which fuels the rise of dairy protein. Dairy protein consequently grows as a result of this. The demand for dairy protein is likely to be driven by the fact that whey and casein protein are consumers' most popular sources of protein supplements.
Consumer Awareness Regarding Adoption of Healthier Dietary Lifestyle to Drive Milk Protein Market Growth
The trend toward healthy items such as protein supplements is anticipated to develop significantly due to rising healthcare concerns and youth exercise crazes. Since dairy protein has so many nutritional advantages, consumers considerably prefer it. Additionally, the market for dairy protein is anticipated to expand due to economic conditions and an increase in the GDP of several emerging nations. In many parts of Africa, including Zimbabwe, Burundi, Liberia, Eritrea, and other developing nations, protein supplements and dietary products based on proteins are still in their infancy. Manufacturers of protein supplements have a great chance because these are still underutilized. Furthermore, increased awareness regarding healthy diets has led to increased consumption of protein supplements, which could lead to lucrative milk protein market expansion.
Rising Demand for Plant-based Protein to Limit Milk Protein Market Growth
Non-vegetarian customers are considering accepting a vegetarian lifestyle and are gradually reducing their intake of animal-based foods, including beef, pig, and chicken. Due to customer desire for a healthy diet, this movement has been noticed. It can be dangerous to consume large amounts of meat and meat products since they frequently consume hazardous pesticides through their diet and chemicals used for their rapid growth. Additionally, customers are concerned about the sanitary standards used in farm animal raising. Customers are looking for alternatives to proteins derived from animals as a result. Animal proteins can be practical and environmentally favorable alternatives, pushing the market for dairy proteins creating a barrier facing milk protein maret during the forecast period.
Dry Category Continues to Dominate Milk Protein Market with Improved Stability, and Easy Handling
Based on form, the milk protein market is segmented into dry, and liquid. The dry category dominated the market over the forecast period. This is explained by its improved stability, and simplicity in handling, and storage when it is liquid. The preferred method of ingestion for its target market is a dry protein formulation. Proteins' dry state impacts the formulation's physical bulk state properties. Due to their high calcium, protein, and vitamin content, these types of protein are becoming increasingly popular in the food and beverage industry. It may also be moved around easily. On the other hand, the liquid category is anticipated to grow at a significant rate. The liquid form of protein is a blend of by-products from diverse sources and raw materials and additives sourced from plants or animals. For those with higher protein requirements, the liquid version provides a concentrated dose of protein. Liquid dairy protein is administered for unintentional weight loss before and after surgery, anorexia, stress, and trauma.
Infant Formula Dominant in Milk Protein Market
Based on application, the milk protein market is segmented into dairy products, frozen desserts, infant formula, dietary supplements, bakery, confectionery, beverages, sweet, savory snacks and others. The infant formula category held the largest market share in 2021 and is anticipated to increase significantly over the next several years. Numerous biologically active substances in human milk have been shown to have immediate and long-term positive effects on general health. Proteins like lactoferrin, -lactalbumin, osteopontin, and other membrane proteins of milk fat globules make up most of the ingredients in human milk. As necessary amino acids, blood concentrations must be maintained at a level not lower than breastfeeding milk. Manufacturers of infant formula must address the amino acid composition of the protein formula. Additionally, the growing demand from the infant formula sector is forcing milk protein producers to think about boosting the total protein content with bioactive proteins while controlling nitrogen, insulin, and serum amino acids to ensure that infants can best absorb the product.
North America’s Lead in Milk Protein Market Intact
Over the forecast period, it is anticipated that the North American milk protein market will account for the largest revenue share. The fitness sector is projected to expand quickly and isn't slowing down. According to the International Health, Racquet & Sports Club Association (IHRSA), the health and fitness business in the United States was worth $94 billion in 2019. This is due to an increase in American consumers living healthier lifestyles or partaking in activities that support active and healthy lifestyles. About 20% of American adults currently belong to a fitness club, and this percentage is predicted to rise.
Additionally, a rise in the demand for foods high in protein is predicted to spur milk protein market expansion due to the growing number of consumers concerned about their health. Consumer choice is gradually shifting away from convenience foods to dairy protein goods, further fueling industry expansion. Significant firms are acquiring new companies with a strong market position and share in existing areas and a strong presence and customer base in new markets. For instance, Amco Proteins is a prominent American player. It is retaining its position by investing extensively in research and development. It is an industry pioneer in bringing innovative, tastier, and more nutritious products to market. Instant MPC 80 is one of the company's most recent product breakthroughs.
The European milk protein market is anticipated to experience stable revenue growth throughout the forecast period. Due to their rising usage in numerous foods and beverage preparations such as bread items, snacks, and confectioneries, the market for dairy protein, such as milk protein concentrate, is expected to rise significantly. Milk protein concentrate and whey protein are in high demand in the European personal care and cosmetics business. Furthermore, the increase in demand for refreshment/sports drinks, together with the increase in sports activity among the region's youth, leads to increased consumption of casein & derivatives, which is expected to expand at the fastest rate during the forecast period.
Global Milk Protein Market: Competitive Landscape
In June 2021, Leading dairy processor Saputo announced cooperation with DA (Dairy Australia), encouraging farmer suppliers to improve their knowledge of managing a farm to expand the country's economy. Similarly, in February 2021, Arla Foods introduced a dry blend protein formula to assist infant formula makers that can lower production costs without sacrificing quality or safety. Alpha-lactalbumin, a whey protein found in abundance in Lacprodan® Premium ALPHA-10 and other necessary amino acids found in human milk, is a component of human milk.
A few players in the milk protein market include Royal FrieslandCampina N.V., Fonterra Co-Operative Group Limited, Arla Foods amba, AMCO Proteins, Saputo Inc, Glanbia plc, Kerry Group plc, Havero Hoogwegt Group, Groupe Lactalis and Theo Müller Group.
Regional Classification of the Global Milk Protein Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global Milk Protein Market
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