The Global Milk Protein Market has witnessed continued growth over the last few years and is projected to grow by USD 5,039.9 Million from 2018 to 2025 at a CAGR of 6.1%. Milk protein finds widespread application in various segments of the food & beverage industry, including dairy products and frozen desserts, infant formula, dietary supplements, bakery and confectionery, beverages, and sweet and savory snacks. The growing demand for high-protein food products and dietary supplements has resulted in the increased demand for various types of milk protein ingredients. The growing adoption of milk protein in these applications has increased opportunities for manufacturers to introduce milk protein products in the market. The demand for sports drinks and dietary supplements has been growing over the last few years. The rise in awareness regarding health and the need for adequate nutrition have fostered the sales of dietary supplements and sports nutrition products.
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The milk protein manufacturing companies are expected to expand their businesses in developing economies such as India, China, ASEAN countries, and Brazil. The food & beverage industry is growing at a steady rate in India, China, and other developing countries. The rising demand for protein ingredients in products such as dairy and frozen desserts and infant formula in developing countries across the globe is creating growth opportunities for milk protein manufacturers. Companies are using different mediums, such as seminars and events, to increase awareness about their milk protein-based products, including yogurt and ice cream.
The global milk protein market has been segmented on the basis of type, form, application, and region.
Based on type, the global market has been divided into milk protein concentrate (MPC), milk protein isolate (MPI), milk protein hydrolysates (MPH), casein & caseinates, whey protein concentrate (WPC), whey protein isolate (WPI), and others. In terms of revenue, the whey protein concentrate (WPC) segment dominated the global milk protein market in 2018. However, the whey protein isolate (WPI) segment is projected to register the highest CAGR of 6.8% during the forecast period. WPC is a white- to light cream-colored product with a bland, clean flavor, which is available in fluid, concentrate, or dry product form. Whey protein concentrates and isolates are widely used in applications such as dietary supplements, infant formula, and dairy products.
Based on application, the global Milk Protein Market has been classified as dairy products & frozen desserts, infant formula, dietary supplements, bakery & confectionery, beverages, sweet & savory snacks, and others. The dairy products & frozen desserts segment has been further divided into cheese, yogurt, ice cream, and others. In 2018, the dietary supplements segment constituted the largest revenue share of the market as the products are widely consumed as nutritional supplements to enhance strength and build muscle mass in resistance training regimens. Whey protein is known as a fast protein as it is quickly broken down into amino acids and absorbed into the bloodstream, which results in an increase in its adoption by consumers. Furthermore, according to the US Dairy Export Council, whey proteins were demonstrated to be effective and affordable recovery agents for malnutrition in young children. In 2016, in Malawi and Mozambique significantly more children recovered from moderate acute malnutrition when fed a whey-based supplement instead of a soy-based supplement.
Market Research Future recognizes Kerry Group plc (Ireland), Fonterra Co-Operative Group Limited (New Zealand), AMCO Proteins (US), Royal FrieslandCampina N.V. (Netherlands), Saputo Inc. (Canada), Glanbia plc (Ireland), Havero Hoogwegt Group (Netherlands), Groupe Lactalis (France), Theo Müller Group (Germany), and Arla Foods amba (Denmark) as the key players active in the global milk protein market.
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Geographically, the global milk protein market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest market share of nearly 35% in 2018. However, the Asia-Pacific milk protein market is expected to register the highest CAGR of 6.5% during the forecast period 2019–2025.
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