Dairy ingredients are principally derived from milk and whey and are utilized to develop various kinds of products that have varied applicability. The normal technique of heat treatment is employed to manufacture dairy ingredients, followed by cooling and flavoring, whereas the new technique of membrane separation is additionally used for the same purpose.
The Global dairy Ingredients Market was valued at USD 48 billion in 2016 and is calculated to be growing at a CAGR of 5.56%, to achieve USD 63 billion by 2021. Dairy ingredients offer health and nutrition advantages to the food products and is the main reason for the high projected growth.
Drivers and Restraints:
Rising quality of protein-enriched foods and beverages has led to increasing awareness among the customers to become more aware towards the health advantages of a dairy-rich diet. Rising population, urbanization and increasing demand for dairy products in food consumption are anticipated to enhance the demand for dairy ingredients.
According to the United Nations, the urban population is anticipated to increase from 3.4 billion in 2009 to 6.3 billion in 2050. Consequently, increasing demand from the aging population is supposed to drive the world dairy ingredients market. The expansion in application sectors like confectionery and bakery and increase in urbanization conjointly drive the market growth.
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On the premise of geography, the global market is examined under varied regions like North America, Europe, Asia-Pacific and rest of the world. The dairy Ingredients market was dominated by Asia-Pacific with an overall market share of 50% in the global market share, attributable to the presence of a major dairy producer India within the region.
The top companies in the current market are Amul, Frieslandcampina, Fonterra Co-Operative Group Limited, Dairy Farmers of America, Arla Foods, Glanbia PLC, Euroserum, Groupe Lactalis, Saputo Inc., Devondale Murray Goulburn and Volac International Limited.
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