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Dairy Protein Market Size is projected to reach USD 17 Billion by 2030, growing at a CAGR of 5%: Straits Research

·10-min read
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Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research

The global dairy protein market size was valued at USD 11 billion in 2021 and is anticipated to reach USD 17 billion by 2030, at a CAGR of 5% during the forecast period (2022-2030). North America was the highest revenue contributor and is estimated to grow with a CAGR of 4.8% during the forecast period.

New York, United States, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Dairy proteins are nutritional ingredients used to prepare a range of food products. They have many functionalities and bioactivities which are helpful in the processing of food products. Dairy proteins such as whey protein, casein, and milk protein work as gelling agents, thickening agents, carriers, foaming agents, and texture modifiers in preparing a wide range of food products. They are also widely used in various industries, including animal feed, personal care, nutrition, and textiles. Food & beverages ingredient manufacturers have invested a lot in R&D to enhance the taste, characteristics, or nutritional value of dairy protein. Whey and casein protein are consumers' most preferred sources of protein supplements, which is likely to drive the demand for the dairy protein market.


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Increase in Demand for Protein as Nutritional and Functional Ingredients to Drive the Global Dairy Protein Market

Proteins are the building blocks of bones, skin, muscles, and blood. The human body requires protein to produce hormones, enzymes, and other body chemicals. Currently, protein supplements are used on a large scale due to the rise in healthcare awareness among people and obesity concerns. Consumers are shifting their focus toward nutritional and healthy diets and increasing their protein consumption to receive extra nutrients from protein supplements made with dairy protein, which in turn feeds the rise of dairy protein. Consumers' favorite sources of protein supplements are whey and casein protein, which is projected to increase demand for the dairy protein industry.

Introduction of Protein Supplements in Untapped Market to provide opportunities for the Global Dairy Protein Market

Protein supplements and protein-based food products are still in nascent stages in various regions of Africa, such as Zimbabwe, Burundi, Liberia, Eritrea, and other developing regions. These are still untapped, which presents an excellent opportunity for manufacturers of protein supplements. Moreover, these regions are still unaware of the benefits of protein supplements, which are expected to provide lucrative opportunities for market growth.


Report Scope

Report Metric

Details

Market Size

USD 17 Billion by 2030

CAGR

5% (2022-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Application, Form, Region

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

Kerry Inc, Arla Foods Inc, Archer Daniels Midland Company, Fonterra Co-Operative Group (Fonterra), Groupe Lactalis, Cabot Creamery, Royal Friesland Campina, Dana Dairy Group, Schreiber Foods, Saputo

Key Market Opportunities

Introduction of Protein Supplements in Untapped Market

Key Market Drivers

Increase in Demand for Protein as Nutritional and Functional Ingredients
Consumer Awareness Regarding Healthy Diet

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Regional Insights

Region-wise, the global dairy protein market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

North America was the highest revenue contributor and is estimated to grow with a CAGR of 4.8% during the forecast period. This is attributable to the rise in U.S. consumers adopting a healthy lifestyle or indulging in activities promoting active and healthy lifestyles. Presently, about 20% of American adults have fitness club memberships, and the number is expected to increase. In addition, an increase in demand for protein-rich food, owing to the number of health-conscious customers, is anticipated to propel market growth. Consumers are gradually shifting their preference from convenience food to dairy protein products, further boosting the market growth.

Europe is the second-largest region. It is estimated to reach USD 5310 million by 2030 at a CAGR of 4.2%. The market for dairy protein such as milk protein concentrate is likely to grow significantly, owing to their increasing consumption in many foods & beverages preparations such as bakery products, snacks, and confectioneries. Furthermore, the rise in demand for refreshment/sports drinks, along with the growth in sports participation from youth in the region, leads to increased consumption of casein & derivatives, which is anticipated to grow at the highest growth rate during the forecast period.

Asia-pacific is the fastest-growing region. Dairy Protein is widely used in the food & beverages and nutrition industries in many Asian countries. With the growth in awareness about casein & derivatives and whey protein as sports or refreshment drinks, the market for casein & derivatives and whey protein is also growing in the region at a significant rate. Milk protein concentrate is widely used as an ingredient in skincare products, which has gained popularity in the recent past and is expected to drive the market for milk protein concentrate in the future.


Key Highlights

  • The global dairy protein market size was valued at USD 11 billion in 2021 and is anticipated to reach USD 17 billion by 2030, at a CAGR of 5% during the forecast period (2022-2030).

  • By type, the global dairy protein market is bifurcated into casein & derivatives, whey protein, and milk protein concentrates. Whey protein is likely to lead the dairy market globally, owing to its widespread application in the personal care & cosmetics industry. Moreover, the need for whey protein will grow at a CAGR of 4.4% during the forecast period. The surge in demand for sports nutrition products and their value-added tag as clean label ingredients are the two main factors contributing to the market's overall growth. Asia-Pacific and LAMEA are expected to witness significant growth rates in value sales during the forecast period.

  • By application, the global dairy protein market is divided into food & beverages, nutrition, personal care & cosmetics, feed, and others. Food & beverages is the leading segment globally owing to the rise in the use of whey protein and milk protein concentrate in the food & beverages industry. It is estimated to grow at a CAGR of 4.4% during the forecast period. The rise in demand for dairy protein and other milk-extracted protein drives the global market for dairy protein. Increasing consumer demand for high nutritional drinks in the U.S. and Canada is anticipated to increase the demand for food & beverages in the region. The need for dairy protein products has been growing recently, owing to the growth of health-conscious consumers. Consumers get attracted to product offerings with attractive packaging and innovative flavors of dairy protein in the market, which, in turn, augments the growth of the food & beverages segment in the market.

  • By form, the global dairy protein market is bifurcated into solid and liquid. The solid form of the products dominated the market. It is estimated to grow at a CAGR of 4.7% during the forecast period. This is attributed to its better stability and ease of handling and storage in liquid form. A solid protein format is the preferable way of consumption for its target customers. The solid form of proteins influences the physical bulk state characteristics of the formulation. These forms of protein are gaining popularity in the food & beverages sector as it is high in calcium, protein, and vitamins. Moreover, it can be easily transported.


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Global Dairy Protein Market: Segmentation

By Type

  • Casein and Derivatives

  • Whey protein

  • Milk Protein Concentrate

By Application

  • Food and Beverages

  • Nutrition

  • Personal Care and Cosmetics

  • Feed

  • Others

By Form

  • Solid

  • Liquid

By Region

  • North America

  • Europe

  • Asia-Pacific

  • LAMEA


TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Dairy Protein Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Casein and Derivatives

      1. Market Size & Forecast

    3. Whey protein

      1. Market Size & Forecast

  5. Application Overview

    1. Introduction

      1. Market Size & Forecast

    2. Food and Beverages

      1. Market Size & Forecast

    3. Nutrition

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Type

        2. By Application

      3. Canada

        1. By Type

        2. By Application

      4. Mexico

        1. By Type

        2. By Application

      5. Latin America

        1. By Type

        2. By Application

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Type

        2. By Application

      3. France

        1. By Type

        2. By Application

      4. U.K.

        1. By Type

        2. By Application

      5. Italy

        1. By Type

        2. By Application

      6. Spain

        1. By Type

        2. By Application

      7. Rest of Europe

        1. By Type

        2. By Application

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Type

        2. By Application

      3. China

        1. By Type

        2. By Application

      4. Australia

        1. By Type

        2. By Application

      5. India

        1. By Type

        2. By Application

      6. South Korea

        1. By Type

        2. By Application

      7. Rest of Asia-Pacific

        1. By Type

        2. By Application

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Type

        2. By Application

      3. South Africa

        1. By Type

        2. By Application

      4. Kuwait

        1. By Type

        2. By Application

      5. Rest of Middle East & Africa

        1. By Type

        2. By Application

  7. Company Profile

    1. Kerry Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. Arla Foods Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. Archer Daniels Midland Company

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

  8. Conclusion & Recommendation

  9. Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/dairy-protein-market/toc 


Market News

  • May 2022 - Friesche Vlag introduces Barista Oat, the brand's first plant-based product for The Netherlands. This oat drink has a mild flavor and is easy to foam, making it ideal for cappuccinos or macchiatos. Its launch is in response to growing consumer demand for plant-based alternatives, giving coffee fans a broader range to choose from.

  • April 2022 - FrieslandCampina published its climate plan 'On the way to climate-neutral dairy' as part of its integrated Nourishing a better planet sustainability program. FrieslandCampina is aiming to produce net climate-neutral dairy by no later than 2050. The climate plan contains clear targets and concrete actions, with a checkpoint being a significant reduction in greenhouse gas emissions by 2030.


News Media

Development of Dietary Supplements to Spur Eggshell Membrane Market Healthy Growth


Have a Look at the Related Research Report

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Dairy Enzyme Market: Information by Type (Rennet, Lactases, Catalases, Lipases), Source, and Application (Milk, Yogurt, Cheese, Whey) — Forecast Till 2026

Plant-Based Protein Market: Information by Source (Soy, Wheat, Pea), Type (Isolates, Concentrate, Protein Flour), Application (Meat Alternatives, Protein Bars) and Region — Forecast Till 2030

Protein Supplements Market: Information by Source (Animal-based, Plant-based), Product (Protein Powder, Protein Bars), and Region — Forecast till 2030

Egg Protein Powder Market: Information by Product Type (Whole Egg Powder, Egg White Powder, and Egg Yolk Powder), Application, and Regional Outlook - Forecast Till 2026


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