The dairy by-product is a product of commercial value that is produced along with the main product during dairy processing. A new report on the global dairy by-products market, published by Market Research Future (MRFR), predicts that this market can sight success during the forecast period (2017-2023).
The vital market driver for the global dairy by-products market growth is the rising global demand for dairy by-products. The increased popularity of whey and ghee residue consumption is also creating scope for market growth. Rapid growth in demands for dairy-based products, dietary supplements, infant foods, and processed foods along with a wide range of applications in the personal care and sports nutrition industry can ensure ample growth for the market. Other factors cruising the market towards growth include increasing demand for pediatric foods, growing demand for functional food & beverage, global trends in health & wellness, and technological advancement.
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Big players in the global dairy by-products market are Arla Foods amba (Denmark), China Mengniu Dairy Company Ltd. (China), Dairy Farmers of America Inc. (USA), Danone Inc. (Canada), Fonterra Co-operative Group Ltd. (New Zealand), Groupe Lactalis S.A. (France), Inner Mongolia Yili Industrial Group Co. Ltd. (China), Koninklijke FrieslandCampina NV (the Netherlands), Nestle S.A. (Switzerland), and Saputo Inc. (Canada).
The global dairy by-products market segmentation encompasses application, form, and type. MRFR’s research on the market highlights many factors of the market in-depth.
The application-based segmentation of this market can cover dietary supplements, functional beverages, functional food, nutraceuticals, and others. Among these segments, the dietary supplements segment is ruling the market.
Regarding form, the market has been segmented into granules, liquid, powder, and others. Among these segments, the powder segment tops the market share due to its increased use in the supplements as well as functional food & beverage products. The powdered form is also more stable than any other form.
By type, the market includes ghee residue, whey, and other by-products. The whey segment controls the market due to its high usage in the production of nutritional supplements and protein beverages.
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A geographical outlining of the global dairy by-products market covers North America, Europe, Asia Pacific, and Rest of the World (RoW).
North America has the largest market, which gets followed by Europe. The market is strong in both regions due to Increasing demand for nutritional protein-based food products that are popular in developed countries. USA and Canada are the biggest importers of dairy by-products. The USA is also one of the top five exporters of dairy by-products. In Europe, the biggest importers are Germany and the UK. The UK is also among the top-five key exporters of dairy by-products, along with France and the Netherlands. Other countries generating significant market revenue in Europe are Italy and Spain. Research on the remaining countries in Europe featured in this report calculates the strong addition to market revenue from various other countries in this region.
During the forecast period, the Asia Pacific region can be the fastest growing regional market due to high population growth, awareness about health-conscious lifestyle, and increasing demand for dietary supplements. China is the biggest importer as well as a top exporter (among the top five exporters) of dairy by-products in this region. Other crucial markets in this region are Australia, India, and Japan.
The RoW segment covers uncategorized regions and countries. Countries that are important markets in this region are Argentina, Brazil, and South Africa.
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