Dairy Concentrates Market Forecasts to 2030 – Global Analysis By ProductType (Skimmed Milk Concentrate, Casein Concentrate, Lactose Concentrate, Whole Milk Concentrate and Other Product Types), Form, Application, and By Geography

Dairy Concentrates Market Forecasts to 2030 – Global Analysis By ProductType (Skimmed Milk Concentrate, Casein Concentrate, Lactose Concentrate, Whole Milk Concentrate and Other Product Types), Form, Application, and By Geography

According to Stratistics MRC, the Global Dairy Concentrates Market is accounted for $20.3 billion in 2023 and is expected to reach $38.9 billion by 2030 growing at a CAGR of 9.7% during the forecast period 2023-2030. Dairy concentrates are products derived from dairy sources that have been processed to remove water content, resulting in a concentrated form of dairy components such as milk proteins, lactose, and minerals. These concentrates are used as ingredients in various food and beverage applications to enhance flavor, texture, and nutritional content, offering convenience and versatility in product formulation.

According to the USDA, diets that include dairy are associated with a lower risk of both cardiovascular disease and type 2 diabetes in adults.

Market Dynamics:

Driver:

Growing demand for protein

Dairy concentrates, such as milk protein concentrates and isolates, are rich sources of high-quality proteins essential for muscle growth, repair, and overall health. With increasing consumer awareness of the importance of protein in their diets, there is a rising demand for dairy concentrates as ingredients in various food and beverage products. This trend is expected to continue driving market growth in the foreseeable future.

Restraint:

Fluctuations in milk supply

Factors such as seasonal variations in milk production, weather-related challenges, and changes in dairy farming practices can lead to fluctuations in milk availability. These supply disruptions can affect the production capacity of dairy concentrate manufacturers, leading to potential shortages and price volatility. Moreover, inadequate milk supply may hinder the ability of manufacturers to meet consumer demand, impacting market stability and profitability.

Opportunity:

Innovation in processing techniques

Advancements in processing technologies enable manufacturers to improve efficiency, reduce production costs, and enhance product quality. This allows for the development of new dairy concentrate varieties with improved nutritional profiles, flavor profiles, and functional properties. Moreover, innovative processing techniques can help meet evolving consumer preferences for healthier and more convenient dairy products, driving market growth and competitiveness in the dynamic dairy industry landscape.

Threat:

Competition from plant-based alternatives

With the rising popularity of plant-based diets and concerns over sustainability and animal welfare, consumers are increasingly turning to plant-based dairy alternatives. These alternatives, such as almond milk, soy milk, and oat milk, offer comparable taste and nutritional profiles to traditional dairy products but with lower environmental impacts. As a result, dairy concentrates face intensified competition, particularly among health-conscious and environmentally-aware consumers.

Covid-19 Impact:

The COVID-19 pandemic has had a varied impact on the dairy concentrates market. While there was initial disruption in supply chains and foodservice sectors, leading to decreased demand, the pandemic also spurred increased consumer interest in shelf-stable and long-lasting dairy products. As a result, there has been a shift towards packaged and processed dairy concentrates, contributing to market resilience and adaptation amid the challenges posed by the pandemic.

The dairy products segment is expected to be the largest during the forecast period

The dairy products segment is anticipated to dominate the dairy concentrates market during the forecast period owing to consumers' growing preference for dairy-based products due to their nutritional benefits and diverse applications, which drives demand. Additionally, the versatility of dairy concentrates in enhancing the flavor, texture, and nutritional profile of various dairy products further boosts their popularity. With increasing innovation in dairy product formulations and rising consumer awareness, the dairy products segment is poised to maintain its position as the largest market segment in the industry.

The whole milk concentrate segment is expected to have the highest CAGR during the forecast period

The whole milk concentrate segment is projected to achieve the highest compound annual growth rate during the forecast period in the dairy concentrates market. This growth is primarily attributed to increasing consumer preference for whole milk-based products due to their rich flavor and nutritional content. Additionally, the versatility of whole milk concentrates in various food and beverage applications, including bakery, confectionery, and dairy products, further contributes to the segment's anticipated strong growth in the market.

Region with largest share:

The Asia-Pacific region is poised to dominate the dairy concentrates market due to rapid urbanization, changing dietary preferences, and increasing disposable income levels, which are driving the demand for dairy products in the region. Moreover, growing consumer awareness about the nutritional benefits of dairy concentrates, coupled with the expanding food and beverage industry further boosts market growth. Additionally, supportive government initiatives and investments in dairy infrastructure contribute to the region's prominence in the global dairy concentrate market.

Region with highest CAGR:

The European region is experiencing significant growth in the dairy concentrates market owing to increased consumer demand for convenient and nutritious dairy products, coupled with technological advancements in processing techniques that are driving market expansion. Additionally, the region's established dairy industry infrastructure and focus on product innovation contribute to this growth trajectory. Moreover, rising awareness of the nutritional benefits of dairy concentrates and their diverse application across food and beverage sectors further positions Europe as a key hub for market growth.

Key players in the market

Some of the key players in Dairy Concentrates Market include Land O’ Lakes Inc., Bluegrass Dairy & Food Inc., Dairy Farmers of America Inc., Ingredion Incorporated, Vika BV, The Kraft Heinz Company, First Choice Ingredients Inc., All American Foods, Fromatech Ingredients B.V., Kerry Group Plc., Archer Daniels Midland Company, Edlong Dairy Technologies, ITC Limited and Mother Dairy

Key Developments:

In September 2023, ITC Limited, a diversified city-based conglomerate, announced Monday its foray into the dairy market in Jharkhand with the launch of several products under its 'Aashirvaad Svasti' brand. According to a corporate release, the company would offer a variety of dairy products to the state's consumers, including milk, curd, paneer, lassi, and 'mishti doi' (sweet curd).

In April 2023, Leading milk and milk products company Mother Dairy Fruit and Vegetable Pvt Ltd announced that it is gearing up to strengthen its value-added dairy play with plans to launch nearly 100 products in the next three years. “In the next 3 years, we aim to introduce over 100 new products in order to reaffirm our position as one of the leading and consumer-centric dairy players in the industry; this year marks the beginning of this journey,” said Manish Bandlish, Managing Director, Mother Dairy Fruit & Vegetable Pvt Ltd.

Product Types Covered:
• Skimmed Milk Concentrate
• Casein Concentrate
• Lactose Concentrate
• Whole Milk Concentrate
• Other Product Types

Forms Covered:
• Powder Concentrate
• Liquid Concentrate
• Other Forms

Applications Covered:
• Nutritional Supplements
• Dairy Products
• Bakery & Confectionery
• Snacks & Convenience Foods
• Nutritional Beverages
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances