Global Dairy Ingredients Market to Reach US$ 121.6 Billion by 2032, Stimulated by Increasing Consumer Awareness About Health Benefits of Dairy Products

July 26, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “Dairy Ingredients Market Report by Product (Milk Powders, Milk Protein Concentrates and Milk Protein Isolates, Whey Ingredients, Lactose and Derivatives, Casein and Caseinates, and Others), Source (Milk, Whey), Form (Dry, Liquid), Application (Bakery and Confectionery, Dairy Products, Infant Milk Formula, Sports and Clinical Nutrition, and Others), and Region 2024-2032,” the dairy ingredients market size reached US$ 73.8 Billion in 2023. Dairy ingredients are processed products used as raw materials in the preparation of various food products and beverages. They include milk powder, whey ingredients, milk protein concentrates and isolates, casein and caseinates, lactose, and milk fat. They are packed with high-grade proteins, vital vitamins, and minerals, which contribute to a balanced diet and overall health. They enhance the taste, texture, and appearance of food products, contributing to their palatability and appeal. They offer diverse functional properties, such as emulsification, water binding, and gelation, which make them suitable for bakery products, confectioneries, infant formulas, sports, and clinical nutrition. Besides this, the high calcium content in dairy ingredients promotes bone health and helps prevent conditions like osteoporosis.

Global Dairy Ingredients Market Trends:

The increasing consumer awareness about the health benefits of a balanced diet represents one of the key factors catalyzing the demand for food products prepared with dairy ingredients. Additionally, the rising working population and hectic lifestyles of individuals are catalyzing the demand for on-the-go snacks. Apart from this, leading dairy ingredient suppliers are investing in innovative techniques to produce low-lactose dairy ingredients, aligning with consumer preferences and health needs. They are also focusing on the adoption of sustainable practices, such as efficient water and energy use, waste reduction, and ethical sourcing. Moreover, the growing demand for dairy ingredients from grass-fed, organic, and non-GMO sources is contributing to market growth. Moreover, the burgeoning e-commerce industry and increasing consumer reliance on online grocery shopping are making dairy ingredients and products more accessible to consumers, which is stimulating market growth. Furthermore, governments and international health organizations are promoting the consumption of dairy products due to their health benefits, which is supporting the growth of the market. Looking forward, the market value is projected to reach US$ 121.6 Billion by 2032, expanding at a CAGR of 5.6% during 2024-2032.

Market Summary:

  • Based on the product, the market has been segmented into milk powders [skimmed and whole milk powders], milk protein concentrates and milk protein isolates, whey ingredients [whey protein concentrate (WPC), whey protein isolate (WPI), and hydrolyzed whey protein (HWP)], lactose and derivatives, casein and caseinates, and others. Milk powders currently represent the largest market segment.
  • On the basis of the source, milk accounts for the majority of the market share, followed by whey.
  • Based on the form, dry dairy ingredients hold the largest segment, followed by liquid.
  • On the basis of application, the market has been segregated into bakery and confectionery, dairy products, infant milk formula, sports and clinical nutrition, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has also been examined, with some 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 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
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Global Dairy Ingredients Market to Reach US$ 121.6 Billion by 2032, Stimulated by Increasing Consumer Awareness About Health Benefits of Dairy Products
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