The global casein & caseinate market was valued at US$ 2143.1 Mn in 2014 and is expected to expand at a CAGR of 4.7% to account for US$ 3564.4 Mn by 2025.
New York, NY -- (SBWIRE) -- 07/19/2017 -- North America dominated the casein and caseinate market with over 33.8% market share in 2014 and is anticipated to remain dominant by 2025. Western Europe and Asia Pacific Excluding Japan collectively accounted for over 37% of the total casein and caseinate market share in 2014. Among all the regions, Asia Pacific Excluding Japan is anticipated to register the highest CAGR between 2015 and 2025, followed by Latin America due to increasing infant formula market and reduction in trade barriers in the ASEAN region coupled with rising demand of food and beverage.
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Key players included in the report are Nestlé S.A., Danone S.A., Arla Foods and Groupe Lactalis. FrieslandCampina, Fonterra, Westland Milk Products, Groupe Lactalis and Saputo.
The global casein & caseinate market is segmented on the basis of type, application and region. These classifications are further broken down into segments to get a better understanding of the global casein and caseinate market in detail
On the basis of type, the casein is segmented as edible casein and industrial casein. Among these, industrial casein sub-segment is estimated to remain dominant with 90.2% share of the total global casein and caseinate market in 2025, followed by edible casein with 9.8% share. Caseinate market is segmented as sodium, calcium and potassium caseinate.
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On the basis of application type, the market has been segmented into food and beverage, industrial, pharmaceuticals, cosmetics and others. Food and beverage segment accounted for 72.9% share of the global casein and caseinate market in 2014 and is expected to register a healthy CAGR of 5.0% over the forecast period. Food and beverage segment is further sub-segmented as nutritional food and beverages, infant nutrition and dairy products. Nutritional food and beverages are categorised as meal replacements, clinical nutrition and sports and slimming products.
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Growth of the global casein and caseinate market is mainly driven by rising health awareness and new functional food product launches, growing disposable income, increasing promotional activities and growing demands for protein-enriched food products. Global casein production accounted for 333.3 Metric Tons whereas caseinate accounted for 2143.1 Metric Tons and US$ 2143.1 Mn by Volume and Value respectively in 2014.. Other trends driving the growth of the casein and caseinate market include growing awareness about the health benefits of specific milk components.