Global Dairy Ingredients Market to Witness Exponential Growth by 2023
Posted by Niks Deshmukh on September 28th, 2018
Ozone Market Reports projects that the Dairy Ingredients market size will grow from USD 50.31 Billion in 2017 to USD 69.97 Billion by 2023, at an estimated CAGR of 5.65%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The application of dairy ingredients is the largest in dairy products as dairy ingredients are used in almost all dairy products for enhancing the nutritional content, flavor, and other benefits from dairy ingredients such as emulsification and solubility. On the basis of dairy ingredient type, milk powder has the largest share in dairy ingredients. The milk powder segment dominated the market, owing to its less moisture content, which contributes to a higher shelf life of the product. The growth in infant food market is another major factor fueling the growth of this segment. Milk has a larger share, as a source, for producing dairy ingredients as availability of milk is higher than the availability of whey, which is another source for manufacturing dairy ingredients. On the basis of nature, the non-traditional dairy ingredients segment which include whey powder, whey protein concentrate, milk protein concentrate, and lactose is expected to grow at the highest rate as compared to that of the traditional dairy ingredients segment, mainly due to the increase in demand for whey protein and whey powder.
By Market Players:
Frieslandcampina , Fonterra Co-Operative Group Limited , Dairy Farmers of America , Arla Foods , Glanbia PLC , Euroserum , Groupe Lactalis , Saputo Inc. , Devondale Murray Goulburn , Volac International Limited,
By Type:
Milk Powder , Whey Ingredients , Milk Protein Concentrates (MPC) , Milk Protein Isolates (MPI) , Lactose & Its Derivatives
By Source:
Milk , Whey,
By Application:
Bakery & Confectionery , Dairy Products , Convenience Food , Infant Milk Formula , Sports & Clinical Nutrition
By Nature:
Traditional Dairy Ingredients , Non-Traditional Dairy Ingredients,
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