The global dairy ingredients market size
is expected to reach USD 86.97 billion by 2024, 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.
Infant formula is projected
to witness revenue growth at a CAGR of 4.8% from 2016 to 2024. 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.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/dairy-ingredients-market
Further key findings from the report suggest:
·
Buttermilk powder is projected to foresee
volume growth at a CAGR of 3.5% from 2016 to 2024 owing to its increasing use
in batter or breading, chocolates and processed cheese
·
The global demand for permeate powder or
dried permeate demand was 208.6 kilo tons in 2015. 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.
·
Sports & clinical nutrition is expected
to foresee fastest volume growth at a CAGR of 4.3% from 2016 to 2024 on account
of rising importance of weight management and maintaining healthy lifestyle
among sports professionals and working professionals
·
Asia Pacific is projected to witness volume
growth at a CAGR of 4% from 2016 to 2024. 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.
·
Major dairy ingredients manufacturers
include Fonterra, Dairy Farmers of America Inc., Arla Foods, Volac
International Limited, Friesland Campina, and Glanbia Plc. where companies are
focusing on product innovation and manufacturing capacity expansion to increase
their presence in the global market.
·
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.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research has
segmented the global dairy ingredients market by product, application and
region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
·
Skimmed Milk Powder (SMP)
·
Whole Milk Powder (WMP)
·
Buttermilk Powder
·
Cream Powder
·
Blenders & Replacers
·
Rolled Dried Powder
·
Fat-filled Powder
·
Permeate Powder/Dried Permeate
·
Lactose & Derivatives
·
Casein & Caseinate
·
MPC & MPI
·
Whey Ingredients
Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
·
Bakery & Confectionery
o Chocolate
o Ice-Cream
o Others
·
Dairy Products
o Recombinant Milk
o Others
·
Convenience Foods
·
Infant Milk Formula
·
Sports & Clinical Nutrition
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
·
North America
o U.S.
o Mexico
o Canada
·
Europe
o North Europe
o Scandinavia
o Western Europe
o Germany
o France
o UK
o Eastern Europe
o Poland
o Russia
o Turkey
o South Europe
o Portugal
o Spain
o Italy
·
Asia Pacific
o China
o Japan
o South Korea
o India
o Australia
o New Zealand
o South East Asia
o Indonesia
o Vietnam
o Thailand
·
Central & South America
o Brazil
o Venezuela
·
MEA
o South
Africa
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-dairy-ingredients-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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