The global dairy ingredients market was valued at USD 43.3 Billion in 2014 and is projected to grow at a CAGR of 5.6% between 2015 and 2020 to reach a value of USD 59.8 Billion. The Asia-Pacific region dominated the market in 2014 and accounted for the largest share in 2014. The milk powder segment was the largest by type, whereas dairy products accounted for the largest market, in terms of application, in 2014.
Pune, India -- (SBWIRE) -- 10/19/2015 -- The report "Dairy Ingredients Market - Global Trend & Forecast to 2020", defines and segments the dairy ingredients market with analysis and forecasting of the global revenue for dairy ingredients. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, and challenges.
Browse 73 market data Tables and 60 Figures spread through 156 Pages and in-depth TOC on "Dairy Ingredients Market - Global Trend & Forecast to 2020"
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Global Dairy Ingredients Market is expected to reach USD 59.8 Billion by 2020 at 5.6% between 2015 and 2020
The segmentation considered for this report is based on type, application, source, and region. The dairy ingredients market, by type, has been segmented into milk powder, whey ingredients, MPC & MPI, lactose & its derivatives, casein & caseinates, and others which include milk protein hydrolyzed, whey protein hydrolyzed, milk and whey peptides, dairy protein fractions, colostrums, and a-lac. On the basis of application, it is segmented into bakery & confectionery, dairy products, convenience foods, infant milk formula, sports & clinical nutrition, and others which include meat, beverages, and non-dairy creamers, of which dairy powder accounts for the largest share.
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The market for dairy ingredients is projected to witness an increasing trend in the upcoming years due to the growing awareness about the health benefits of nutritional food products, and increasing production in countries such as the U.S., India, and China. The increasing demand for healthy and diversified food and the growing convenience food & beverage industry support the growth of the dairy ingredients market, along with growing income levels and disposable income, especially in the Asia-Pacific region.
The dairy ingredients market is projected to grow at a CAGR of 5.6% from 2015 to 2020. The major drivers of the market are increasing awareness towards health & wellness, growth in application sectors, and R&D and innovations to expand applicability & accelerate growth. Additionally, increase in sedentary lifestyle, along with consumer preference for nutrient rich diet are projected to augment the overall growth of the market. The major restraining factor includes alternatives such as plant protein may restraint the market growth. Easy availability and low cost of soy protein is further projected to hamper the overall growth of the dairy ingredients market. Rising incidences of lactose intolerance and milk allergies is also projected to pose a challenge to the growing dairy ingredients market.
Leading players in the dairy ingredients market include FrieslandCampina (The Netherlands), Fonterra Co-Operative Group (New Zealand), Dairy Farmers of America (U.S.), Arla Foods. (Denmark), Glanbia Plc. (Ireland), Euroserum (France), Groupe Lactalis (Germany), Saputo Inc. (Canada), Volac international Limited (U.K.), and Murray Goulburn Co-Operative Co. Limited (Australia).
One of the major developments in the dairy ingredients market is expansions & investment. This strategy was adopted due to the increasing requirements for nutritional and dairy products all over the world. It helped the manufacturers to increase their dairy-based portfolio and also increase their geographic presence in the dairy ingredients industry. Companies are also adopting other growth strategies such as new product launches, acquisitions, agreements, and joint ventures to cope with the increasing demand for dairy ingredients in key emerging markets. These strategies have helped companies to create a large customer and partner base in key markets.
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