Milk Protein Concentrates Market to Witness Booming Expansion throughout the Forecast 2023-2030
The global milk protein concentrates market was valued at USD 3,409.5 Million in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% during the forecast period. Milk protein concentrates finds a wide variety of applications in infant formula production owing to its high calcium content. They are milk items possessing a high concentration of proteins. They are available in dry and powdered form. The high benefits derived from the products are expected to drive the demand in the coming years. Moreover, the growing demand for protein-rich and an increase in the intake of protein-rich diet will propel the growth of the market.
Consumers around the globe are becoming conscious regarding health and fitness owing to the high rate of obesity and malnutrition and the deterioration of the immune system of the human body. However, instabilities related to the cost of milk can limit the expansion of the milk protein concentrates in the coming period.
The market in the European region took the lead among the major exporters. The 2016 increase in EU exports stemmed from a rise in milk production and limited growth in consumption within its internal market, apart from the prevailing lower Euro/USD exchange rate. Among the European countries, Belarus is projected to record strong export growth, due to its increased trade with the Russian Federation during the forecast period.
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Further key findings from the report suggest
- Milk protein concentrates provide a base of dietetic products. High-heat non-fat dry milk is reputed to impart water-absorption capacity to baked goods such as bread. Lactose containing dairy ingredients are responsible for the desirable brown crust in bread and other bakery items.
- Milk Protein Concentrates (MPC) is applicable in many fields, such as cheese and nutrition products applications, ice creams, yogurt, and nondairy products, among others. With the growth in the economy, the downstream application industries will need more Milk Protein Concentrates.
- The primary raw materials of MPC are filtered milk or fresh milk. Volatility in the prices of the upstream product will impact on the production cost of MPC, and also its price and consumption.
Key Players covered in this report are:
The global milk protein concentrates market is highly competitive and fragmented, with numerous players operating on both regional and global levels. To expand their reach in the market, key players engage in portfolio expansion, R&D, and strategic alliances. The leading companies employ various growth tactics, such as partnerships, collaborations, agreements, regional expansions, mergers, and acquisitions, as well as new product launches, to enhance their market presence.
The global market report includes some of the major companies, such as Arla Foods Amba, Kerry Group plc, Lactalis International, Fonterra Co-operative Group Limited, Amco Proteins, Cabot Creamery, Dana Dairy Group, Saputo Inc., Hoogwegt, and Nestlé. These companies strive to differentiate their products, innovate, and expand their portfolios to capture the growing demand for milk protein concentrates worldwide.
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Milk Protein Concentrates Market Segmentation:
When it comes to end-use outlook, the market is segmented into dietary supplements, emulsifiers, dairy products, sports nutrition, bakery & confectionery, and others. The demand for milk proteins in dietary supplements is expected to increase due to their nutritional benefits and ability to support muscle growth and recovery. The use of milk proteins as emulsifiers in food and beverage products is also expected to increase, as they can improve texture and stability.
Based on preparation method outlook, the market can be segmented into co-precipitation and division by ultrafiltration. Co-precipitation is expected to hold a significant share of the market due to its ability to produce high-quality milk proteins with a balanced amino acid profile.
In terms of distribution channel outlook, the market can be segmented into online stores and offline stores. The increasing popularity of e-commerce is expected to drive the growth of online stores, as they offer convenience and a wide range of products to consumers.
Finally, based on application outlook, the market can be segmented into packaged goods, infant formula, nutritional products, and others. The demand for milk proteins in infant formula is expected to increase due to their high nutritional value and ability to support growth and development.
Geographically, the global market for milk protein is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to hold a significant share of the market due to the high demand for milk proteins in dietary supplements and sports nutrition products. Europe is also expected to hold a significant share of the market due to the increasing demand for functional foods and beverages.
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