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Dairy Ingredients Market Growth Opportunities, Scope, Trends, and Forecast to 2026

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Dairy Ingredients Market Growth Opportunities, Scope, Trends, and Forecast to 2026

February 24
22:27 2022
Dairy Ingredients Market Growth Opportunities, Scope, Trends, and Forecast to 2026
Rise in consumption of ready-to-eat and functional foods, complemented by the versatile application of dairy ingredients, and increased consumer awareness on healthy eating among consumers, have been driving the global dairy ingredients market.

The dairy ingredients market is estimated to account for a value of USD 63.6 billion in 2021 and is projected to grow at a CAGR of 7.2% from 2021, to reach a value of USD 89.9 billion by 2026. The growth of this market can be attributed to the growing protein demand from consumers, they prefer products with dairy ingredients as a source of protein. The market growth in APAC can be attributed to the increasing awareness of health and wellness among the consumers. The continual investment in technological advancement is influencing growth, thereby increasing the sales of dairy ingredients in the near future.

 Dairy Ingredients Market

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Driver: Increasing awareness about health and wellness

Consumer preferences are gradually shifting from junk and fast food to nutritional diets. This shift to healthy diets is being witnessed due to the increasing aging population, coupled with the rising health issues. This has led to increased demand for protein-based ingredients, such as dairy ingredients, for use in nutritional foods. This health and wellness trend will act as a key driving factor, which is set to fuel the consumption of dairy ingredients.

Owing to the growing consumer awareness toward health gain, the demand for protein in the daily diet is increasing, which has exponentially propelled the market for dairy proteins. In 2019, the International Food Information Council Foundation (IFICF) conducted a consumer survey in North America about diet preferences. About 48% of consumers said that they often include dairy products in their daily meals as a source of protein. The below diagram depicts the share of each category in the daily meals of North American consumers.

By application, the bakery & confectionery segment is projected to dominate the dairy ingredients market during the forecast period.

Based on applications, the bakery & confectionery segment accounted for the largest share in 2021 due to the multiple applications of dairy ingredients in the bakery industry. Non-fat dried milk and skim milk powder are popular substitutes for fresh fluid milk in the bakery and confectionery sector. Dairy ingredients are also used as claims on packaging to valorize baked goods better. Whey protein ingredients cater to delivering functionality and performance. Since fitness has become the new trend dairy formulations, mostly whey protein are gaining popularity among the younger generation.

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The demand for functional foods has created opportunities for dairy ingredient manufacturers in the emerging markets.

The Asia Pacific region is the dominant market for dairy ingredients and is expected to experience the fastest growth among all the regions. Rise in health awareness has pushed the market for functional and fortified foods, which is creating the demand for dairy ingredients. Manufacturers have been using dairy ingredients since they are known to have versatile functional and nutritional properties such as providing richness, texture, flavor, and color to food products. Ingredients, such as milk powder, are being used in infant formulas and sports drinks. As the millennial population in the region is large, the demands for such food and beverages is also rising.

This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies operating in the dairy ingredients market. It includes the profiles of leading companies such as 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 (USA), Ingredia SA (France), Agropur (Canada), and Euroserum (France).

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