The global milk protein market is growing rapidly and steadily, mainly due to the well-spread awareness towards the health benefits it provides. Owing to the increasing adoption in various health supplements, the market witnessed a massive rise in the demand over the past few years. Moreover, factors such as rising health awareness are escalating the market on the global platform. —
Evaluating the colossal growth, the market perceives currently, Market Research Future (MRFR), in its recently published study report asserts that the Global Milk Protein Market will register an outstanding CAGR throughout the review period (2016-2022), garnering substantial accruals.
Additional factors propelling the growth of the market include the growing shift in consumer preferences, especially in youngsters towards adopting healthy eating habits and the huge demand as milk alternative in various milk-based products such as milk chocolate, milk powders, and yogurts among others. Availability of milk protein in different forms and in different packaging is changing the dynamics of the market from the last few years.
On the other hand, factors such as the reported cases of allergies associated with the milk protein and lactose intolerant populaces restrict the growth of the market up to a certain level. Also, various studies that have proved that cow's milk can increase the risk of type 1 diabetes (juvenile diabetes) hence, the growing prevalence of diabetes is projected to be a major headwind that could restrict the growth of the market.
Nevertheless, the growing demand from clinical/medical/sports nutrition market and protein engineering market led by the growing number of the vegan populace and growing sports/ fitness enthusiasts is expected to support the market growth over the forecast period. Besides, the burgeoning food industry including, chocolate, protein shake etc. will provide impetus to the growth of the milk protein market.
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Global Milk Protein Market - Competitive Analysis
Highly competitive, the milk protein market appears to be fragmented due to the presence of numerous key players those are accounting for a substantial market share. These players incorporate strategic initiatives such as collaboration, acquisition, product & technology launch, expansion, and partnership to gain a competitive advantage and to maintain their positions in this market.
Distributors and manufacturers are responsible for evaluating the labeling and safety of their products before marketing so as to ensure that they meet all the requirements of FDA regulations and DSHEA.
Manufacturers operating in the milk protein market strive to develop state-of-the-art manufacturing facilities where they can make all their products from carefully sourced raw materials right in their own facility.
Key players leading the global milk protein market include Arla Foods (Denmark), Fonterra Co-operative Group Limited (New Zealand), Groupe Lactalis (France), AMCO Proteins (U.S.), Hevero Hoogwegt (Netherlands), FrieslandCampina (Netherlands), Kerry Group (Ireland), and Ganbia plc. (Ireland) among others.
• Among the various forms of milk protein, powder form is witnessing maximum growth from last few years
• Top five importers of Milk protein are Germany, Japan, U.S., Canada, France and Netherlands
Global Milk Protein Market - Segments
For enhanced understanding, the report has been segmented into five key dynamics.
By Nutritional Profile
By Distribution Channel
• Hypermarket & Supermarkets
• Convenience Stores
• North America
• Asia Pacific
Global Milk Protein Market - Regional Analysis
The European region, being the largest producer and exporter of milk, accounts for the leading market in the global milk protein market. The presence of major milk exporter countries such as the Netherlands, Denmark, and France drives the milk protein market in the region. Rising demand for milk protein for different applications mainly as a functional food is boosting the growth in the regional market.
The milk protein market in the North American region accounts for the second-largest market, globally. In North America, milk proteins are used in a variety of food applications, including infant formulas, protein, and nutrition drinks for people of all ages, and breakfast and other nutrition bars to name a few.
Canada is technically the largest market in the region. Owing to the North American Free Trade Agreement (NAFTA), the US dairy industry currently enjoys access to the Canadian market for milk protein products containing 85 percent or more. However, advancements in manufacturing technology that reduces cost and increases flexibility in manufacturing have led to a growing demand for U.S. milk proteins in Canada.
The Asia Pacific milk protein market is emerging as a profitable market, globally. The milk protein market in the APAC offers huge growth opportunities to manufacturers due to the increasing demand for nutritional products. Markets in China and New Zealand are substantially larger markets in the region which are expected to increase their market share for milk protein and its derived products. The region is expected to witness higher growth due to the growing demand for high-quality milk protein especially from developing countries like China and India.
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• Milk Protein manufacturers
• Sports Nutrition manufacturers
• Dairy ingredients manufacturers
• Infant formula manufacturers
• Retailers and wholesalers
• Traders, importers and exporters
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