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Global Milk Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

Global Milk Protein Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2026

  • September 2022
  • ID: 6321758
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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The Global Milk Protein Market stood at 1.17 billion usd in 2021 and is projected to register a CAGR of 3.67% to reach 1.40 billion usd in 2026.

Key Highlights
Largest Segment by Form - Isolates : Superior qualities and functionalities of MPIs such as high protein content, with lower carbs and lower lactose content makes it the leading protein ingredient in the market.
Largest Segment by End User - Food and Beverages : Milk protein has become increasingly popular in food due to its nutritious value and appealing appearance. Milk proteins are widely used in pastries, drinks, and baked items.
Fastest Growing Segment by Form - Hydrolyzed : It’s raised demand in the personal care sector & hiked researches confirming its benefits, such as reduces allergic infections on the skin, is projected to drive the segment.
Fastest Growing Segment by End User - Personal Care and Cosmetics : In terms of convenience and product formulations innovation using milk proteins is gaining traction in the market, mainly in beverages, and condiments/sauces sub-sectors.

Key Market Trends

Largest Segment By End User : Food and Beverages

By application, the F&B sector retained the top position throughout the review period. 85.4% of milk protein demand in F&B is primarily driven by the bakery, snacks & beverage industries. For instance, milk proteins are gaining popularity in low acid beverages due to their attributes of greater solubility & heat stability. Similarly, milk proteins’ high efficacy in egg replacement boosted its demand in the bakery industry, especially in countries where avian flu is a budding concern.
On the other hand, the supplements sector also witnessed prominent demand across the globe. This was led by the sport and performance nutrition industries & growing demand from baby food & infant formulas, which accounted for 33% & 66%, respectively, under the supplements sector. However, over the forecast period, F&B, supplements & personal care are projected to be the fastest-growing segments, recording CAGRs of 3.66%, 3.69% & 3.70%, respectively.

Largest Region : Asia-Pacific

Asia-Pacific, particularly China (with 33.8% share in the regional market, in 2020), is the leading market for milk protein, aided by constant innovations targeting distinct end-user segments. Increases in the prevalence of obesity (roughly 23% in 2014) and fitness enthusiasts choosing high protein foods have positioned China as the market leader.
Europe holds the second-largest market share, led by Turkey, which has been attracting foreign investments in line with harmonization achieved by Turkish and EU Food Laws. Other market segments continue to hold enormous development potential, prompting multinational businesses to spend heavily in the milk protein market in Africa, South America, and the Middle East. Dairy ingredient maker Drigold, which offers milk protein concentrates, opened an office in Dubai in 2019, for improved service integration with customers in the Middle East and Africa.

Competitive Landscape

The Global Milk Protein Market is moderately consolidated, with the top five companies occupying 53.01%. The major players in this market are Agrial Group, Fonterra Co-operative Group Limited, Glanbia PLC, Kerry Group plc and Royal FrieslandCampina NV (sorted alphabetically).

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