Global Dairy
Ingredients Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
In this report, we
thoroughly examine and analyse the Global market for Dairy Ingredients so that
market participants can improve their business strategy and ensure long-term
success. This report provides players with useful information and suggests
result-based ideas to give them a competitive advantage in the global Dairy
Ingredients industry. It will show how other players compete in the global Dairy
Ingredients Market and explain the strategies you use to differentiate yourself
from other participants.
This Research Report
Answers the Following Questions:
·
How Dairy
Ingredients market
will grow in the coming year?
·
Will the COVID-19 pandemic surge the demand for such platforms?
·
How are key companies planning to promote benefits of Dairy Ingredients?
·
What are the industry growth drivers, obstacles, and dynamics?
·
Which segment is expected to lead in the coming years?
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The global dairy
ingredients market size was estimated at 13.7 million tons in 2015 and is expected
to reach USD 86.97 billion by 2024. Factors such as population starting to age,
increased health issues, better awareness about the benefits of food products
rich in nutrition, better production and sluggish lifestyle are expected to
benefit the overall market.
A shift in food habits,
from customary food to nutritional food has been observed. The industry is
extremely competitive with a huge number of companies trying to capture the
market. It comprises of few leading global companies and numerous minor
regional companies. The increased awareness about the health benefits of the
food items rich in nutrition is expected to have positive impact on the market.
The major dairy ingredient
sources are milk and whey. These ingredients have various applications which
include convenience foods, bakery, sports and clinical nutrition,
confectionary, dairy products, infant milk formula, and other food products
like beverages, non-dairy creamers, meat, etc. On the basis of type, the dairy
ingredient is segmented into lactose, milk powder, casein & caseinates, MPC
& MPI and whey ingredients.
The global market for dairy
ingredients is anticipated to have a strong growth rate in the forecast period.
It is sustained by the increased global awareness among the consumers about the
benefits of a healthy and nutritious diet. Market dominator in the dairy
ingredients industry is Asia-Pacific at this time. It is followed by Europe and
North America. As the income levels and the disposable incomes in the
Asia-pacific region is growing, it is projected to witness the highest growth
in the forecast period among all the regions worldwide. The increased demand
for healthy food along with infant rich population in the region drives the
growth and projects it to be the dominator. However, Japan will witness a
relatively lower growth rate as compared to the rest of Asia-pacific region.
Additionally, the U.S., India and China is expected to show an increased demand
for the healthy and nutritional food in the forecast period on account of an
increased and better production of dairy products and food.
Over the past few years,
milk powder has been the key product in the dairy ingredient industry. Milk
protein isolates and milk protein concentrates are expected to experience
similar demand in the coming years owing to its high usage in the sports
activities which is increasing on a high pace globally. Whey protein is also
expected to experience increased demand in the future. It comprises of
glutamine which is highly beneficial in replenishing the muscles and inhibits
the decline in the immune function which can occur from increased physical
activity. Consumers are becoming increasingly active and health conscious. Whey
protein helps to increase the muscles and stimulates growth.
Skim Milk Powder (SMP) is
gaining popularity in the market. The United States and The European Union are
the major SMP producers worldwide. They produce above half of the world’s
supply of SMP. In 2013, the U.S. had the foremost share signifying 28% of
exports. Whereas, the E.U. exhibited around 21% of the total exports in the
same year.
Industry participants are
investing in R&D and new production sites to come up with innovative
production techniques to cater to the existing hindrances in the market. Major
industry participants include Euroserum (France), Dairy Farmers of America (U.S.),
Murray Goulburn Co-Operative Co. Limited (Australia), Saputo Inc. (Canada),
Arla Foods. (Denmark), Volac International Limited (U.K.), Fonterra
Co-Operative Group (New Zealand), Groupe Lactalis (Germany), FrieslandCampina
(The Netherlands) and Glanbia Plc. (Ireland). These companies provide a
holistic view to the competitive scenario of the dairy ingredients market.
The major participants in
the industry have been adopting different competitive strategies to cater to
the needs of the consumers and emerging markets, increase production capacities
and maintain their market share. These strategies consist of new product
launches, strategic expansions, investments, collaborations, joint ventures,
acquisitions and partnerships. The dominant players in the industry concentrate
on increasing their sales and market presence rather than introducing new
products and technologies across the globe. For new investment prospects,
companies considered the high-growth regions, for instance, Latin America and
Asia-pacific. These strategies facilitated the increase of their large partner
and consumer base.
The global dairy ingredient
market is majorly concentrated market dominated by share. The consumption
pattern of the industry fluctuates with different geographies according on the
income levels. The significant success factor of the industry is the sourcing
of milk. Product differentiation and customer service adds value and boosts the
growth of the industry.
In terms of revenue, the
market is dominated by whey ingredients and in terms of shipment units, it is
dominated by lactose. The product prices are highly volatile in nature on
account of the unpredictable climatic conditions and inconsistent milk supply.
This poses a serious threat to the industry. Canola, soy and rapeseed are the
plant proteins which are the major substitutes to the dairy products and cause
threat. High concentrate ingredients such as whey proteins, milk protein
isolates are majorly found in developed countries like the U.S., Germany, and
France. While, the low concentrate ingredients are more prevalent in the
developing countries.
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