Dairy Ingredients Market Size, Share & Trends Analysis Report By Product, By Application (Bakery & Confectionery, Dairy Products, Convenience Foods, Infant Milk Formula, Others), By Region, And Segment Forecasts, 2024 - 2030

Dairy Ingredients Market Size, Share & Trends Analysis Report By Product, By Application (Bakery & Confectionery, Dairy Products, Convenience Foods, Infant Milk Formula, Others), By Region, And Segment Forecasts, 2024 - 2030

Dairy Ingredients Market Growth & Trends

The global dairy ingredients market size is expected to reach USD 120.60 billion by 2030 and is anticipated to grow at a CAGR of 5.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising demand for dairy products in emerging markets including China and India as a result of product innovation by companies including Nestlé is expected to promote usage of milk powder as a functional ingredient. Rising importance of frozen bakery goods as a result of new product launches by companies including ABF is expected to promote the use of milk powder further over the forecast period.

The emergence of China and India as a major hub for manufacturing baby products on account of increasing birth rates on a domestic level is expected to promote market demand over the projected period.

Dairy Ingredients Market Report Highlights

• The MPC (Milk Protein Concentrate) and MPI (Milk Protein Isolate) segment dominated the market in 2023 accounting for a revenue share of 19.7% in 2023
• The product is manufactured after ultrafiltration of milk to extract protein and fat which is used extensively as a functional additive for the production of beverages, seasonings, confectionery, soups, sauces, desserts, and baked goods.
• Asia Pacific dominated the market and accounted for a market share of 42.3% in 2023. Rising disposable income of consumers in emerging markets including China, Thailand, Bangladesh, Indonesia, and Malaysia is expected to promote the consumption of food & beverage products and thus likely to augment dairy ingredients market growth.
• In June 2016, Arla Foods Ingredients established a new production unit in Denmark. The facility can produce 4,000 tons of high-quality whey and casein hydrolysates annually.

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