Dairy Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Dairy Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A5905
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Market Overview:

The global dairy ingredients market size reached US$ 69.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 99.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Dairy ingredients are processed as powdered or liquid nutritional and dietary supplements and added to the formulation of dairy products, such as ghee, butter, cheese, ice cream, yogurt, and condensed and dried milk, to enhance their flavor and nutritional content. They generally include colors, sweeteners, stabilizers, cultures, preservatives, and natural or synthetic flavorings. Nowadays, manufacturers are introducing fortified dairy products that contain additional ingredients like probiotics, prebiotics, minerals, proteins, calcium, vitamins, phytoconstituents, omega-3 fatty acids, and other essential nutrients.

Dairy Ingredients Market Trends:

The increasing consumption of dairy products directly or as a base ingredient in the preparation of various dishes represents one of the key factors bolstering the market growth. This can also be attributed to the growing awareness of the health benefits of consuming dairy, such as supporting body growth and controlling blood pressure (BP). Moreover, the escalating demand for organic dairy products on account of the growing prevalence of chronic diseases and the rising consciousness among consumers about the negative impact of consuming synthetic ingredients is driving the market. Apart from this, dairy ingredients are used in sports nutrition to provide carbohydrates for energy, protein for building muscles, and vitamins and minerals for strengthening bones and replacing electrolytes during heavy exercise. This, in confluence with the increasing participation of individuals in sports and physical activities, is contributing to the market growth. Besides this, market players are focusing on developing a wide range of novel flavors, natural colors, and non-genetically modified organisms (GMO) ingredients. They are also offering premium and high-end dairy ingredients, such as skim milk powder, buttermilk powder, whey powder, and complex formulations, which is anticipated to influence the market positively.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global dairy ingredients market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, source, form and application.

Breakup by Product:

  • Milk Powders
    • Skimmed Milk Powders
    • Whole Milk Powders
  • Milk Protein Concentrates and Milk Protein Isolates
  • Whey Ingredients
    • Whey Protein Concentrate (WPC)
    • Whey Protein Isolate (WPI)
    • Hydrolyzed Whey Protein (HWP)
  • Lactose and Derivatives
  • Casein and Caseinates
  • Others
     

Breakup by Source:

  • Milk
  • Whey
     

Breakup by Form:

  • Dry
  • Liquid
     

Breakup by Application:

  • Bakery and Confectionery
  • Dairy Products
  • Infant Milk Formula
  • Sports and Clinical Nutrition
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Agropur Dairy Cooperative (Farmers Co-operative Dairy Limited), Arla Foods Ingredients Group P/S, Aurivo Co-operative Society Limited, Dairy Farmers of America Inc., Euroserum (Groupe Sodiaal), Fonterra Co-operative Group Limited, Glanbia PLC, Hoogwegt Group B.V., Lactalis Group, Megmilk Snow Brand Co. Ltd., Royal FrieslandCampina N.V., Saputo Inc., Schreiber Foods Inc. and Volac International Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Product, Source, Form, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Agropur Dairy Cooperative (Farmers Co-operative Dairy Limited), Arla Foods Ingredients Group P/S, Aurivo Co-operative Society Limited, Dairy Farmers of America Inc., Euroserum (Groupe Sodiaal), Fonterra Co-operative Group Limited, Glanbia PLC, Hoogwegt Group B.V., Lactalis Group, Megmilk Snow Brand Co. Ltd., Royal FrieslandCampina N.V., Saputo Inc., Schreiber Foods Inc. and Volac International Limited
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global dairy ingredients market was valued at US$ 69.5 Billion in 2022.

We expect the global dairy ingredients market to exhibit a CAGR of 6.2% during 2023-2028.

The rising demand for dairy ingredients in sports nutrition to provide carbohydrates for energy, protein for building muscles, vitamins and minerals for strengthening bones during heavy exercise, etc., is primarily driving the global dairy ingredients market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of dairy ingredients-based products.

Based on the product, the global dairy ingredients market can be categorized into milk powders, milk protein concentrates and milk protein isolates, whey ingredients, lactose and derivatives, casein and caseinates, and others. Among these, milk powders hold the majority of the total market share.

Based on the source, the global dairy ingredients market has been segregated into milk and whey, where milk currently exhibits a clear dominance in the market. 

Based on the form, the global dairy ingredients market can be bifurcated into dry and liquid. Currently, dry accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global dairy ingredients market include Agropur Dairy Cooperative (Farmers Co-operative Dairy Limited), Arla Foods Ingredients Group P/S, Aurivo Co-operative Society Limited, Dairy Farmers of America Inc., Euroserum (Groupe Sodiaal), Fonterra Co-operative Group Limited, Glanbia PLC, Hoogwegt Group B.V., Lactalis Group, Megmilk Snow Brand Co. Ltd., Royal FrieslandCampina N.V., Saputo Inc., Schreiber Foods Inc., and Volac International Limited.

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Dairy Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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