“The milk protein market projected to grow at a CAGR of 6.5% rate” The milk protein market is projected to grow at a CAGR of 6.5% from 2017 to reach USD 13.38 billion by 2022. The demand for milk protein is projected to be on the rise, owing to factors such as increase in demand for nutrition-based products in sports nutrition, infant formulas, and clinical nutrition, increase in consumption of premium products, growth in demand for high protein content in food industries such as confectionery and bakery, thus creating a platform for newer applications of milk protein and growth in awareness of functional foods and nutrition among the consumers. Competition from substitutes such as plant and soy protein and fluctuations in price of raw materials are the major restraints for the milk protein market.
“Infant formula segment, by application, projected to be the fastest-growing in the milk protein market” In terms of value, the infant formula segment is projected to grow at the highest rate between 2017 and 2022. Due to its nutritional value, milk protein forms an essential part of infant formula, such as milk powders, ready-to-feed liquids, and concentrates. An increase in demand for high nutrition food for infants acts as a driver for the milk protein market in the infant formula segment. Furthermore, the rise in cases of food allergy and lactose intolerance among infants, is another factor for the growth of milk protein in this sector. The infant nutrition sector presents innovative potential to milk protein manufacturers, due to the availability of options for developing new and customized infant formulas, and the support offered by government organizations toward infant nutrition.
“Asia-Pacific is estimated to be the fastest-growing region in the market.” Asia-Pacific is estimated to be the fastest-growing region, in terms of value, in the global milk protein market, in 2017. This region comprises developing economies such as China, India, Australia, and New Zealand, which are the largest consumers of milk in the world. The increase in population and per capita income in India and China, clubbed with increased preference for high protein products is expected to drive the demand from end-use segments such as sports nutrition sector and food industries such as confectionery and bakery. The Chinese milk protein market is projected to grow at the highest rate among the Asia-Pacific countries.
Break-up of primaries:
- By Company Type: Tier 1 – 39 %, Tier 2 – 25%, and Tier 3 – 36% - By Designation: C level – 7%, Director level – 78%, and Others – 15% - By Region: North America – 7%, Europe – 32%, Asia-Pacific – 46%, and RoW – 15%
The global market for milk protein is dominated by large players such as Groupe Lactalis (France), Fonterra Co-Operative Group (New Zealand), FrieslandCampina (Netherlands), Arla Foods (Denmark), and Saputo Incorporated (Canada). Other players include Kerry Group (Ireland), Glanbia PLC (Ireland), Havert Hoogwewt (Netherlands), Sachsenmilch Leppersdorf GMBH (Germany) and AMCO Protein (U.S.).
Research Coverage The milk protein market has been segmented on the basis of type, livestock, application, form, and region. In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global milk protein market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
- To get an overview of the global milk protein market - To get an overview of the key players of the milk protein industry and product portfolios and key strategies adopted by key players to attain the market presence - To gain insights of the major regions in which the milk protein market is growing - To gain knowledge of the growth of various milk protein
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