Yahoo Finance Dairy Protein Market Size is projected to reach USD 17 Billion by 2030, growing at a CAGR of 5%: Straits 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 |
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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
Introduction
Market Definition
Market Scope
Research Methodology
Primary Research
Research Methodology
Assumptions & Exclusions
Secondary Data Sources
Market Overview
Report Segmentation & Scope
Value Chain Analysis: Dairy Protein Market
Key Market Trends
Drivers
Restraints
Opportunities
Porter’s Five Forces Analysis
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of Substitution
Threat of New Entrants
Competitive Rivalry
Market Share Analysis
Type Overview
Introduction
Market Size & Forecast
Casein and Derivatives
Market Size & Forecast
Whey protein
Market Size & Forecast
Application Overview
Introduction
Market Size & Forecast
Food and Beverages
Market Size & Forecast
Nutrition
Market Size & Forecast
Regional Overview
Introduction
Market Size & Forecast
America
North America
U.S.
By Type
By Application
Canada
By Type
By Application
Mexico
By Type
By Application
Latin America
By Type
By Application
Europe
Market Size & Forecast
Germany
By Type
By Application
France
By Type
By Application
U.K.
By Type
By Application
Italy
By Type
By Application
Spain
By Type
By Application
Rest of Europe
By Type
By Application
Asia Pacific
Market Size & Forecast
Japan
By Type
By Application
China
By Type
By Application
Australia
By Type
By Application
India
By Type
By Application
South Korea
By Type
By Application
Rest of Asia-Pacific
By Type
By Application
Middle East & Africa
Market Size & Forecast
Saudi Arabia
By Type
By Application
South Africa
By Type
By Application
Kuwait
By Type
By Application
Rest of Middle East & Africa
By Type
By Application
Company Profile
Kerry Inc
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Arla Foods Inc
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Archer Daniels Midland Company
Company Overview
Financial Performance
Recent Developments
Product Portfolio
Conclusion & Recommendation
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
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