The dairy ingredients market has been segmented on the basis of type, application, source, and nature, which are further divided into their subsegments. It has been segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market for dairy ingredients is projected to grow at a CAGR of 5.61% from 2016 and reach a market value of USD 66.11 billion by 2022. Increase in health & wellness concerns and awareness regarding nutritional food products have made way for new opportunities in the dairy ingredients market. The other factors that drive the market are the additional health benefits of the dairy ingredients such as its use in therapeutic food products, advancement in technological innovation, growth in application sectors, and increase in premium food product demand.

Increasing research is being carried out by companies to understand and enhance the functionality of dairy ingredients regarding their use in nutritional specialty products. The constantly evolving and cost-effective technology aids cheese and milk processors to produce high-quality dairy functional products by separating components of milk at a micro-nutrient level.

Whey ingredients are the fastest-growing dairy ingredient type due to their protein-rich properties and high content of essential amino acids. Whey ingredients thus represent an opportunity for the key market players to invest in R&D and highlight benefits of these ingredients to the target customers, which include, the European and North American population, due to the rise in popularity of protein-enriched diet foods & beverages.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=974

Asia-Pacific is projected to be the fastest-growing regional market, between 2016 and 2022. Increase in demand for healthy food and rise in per capita expenditure on healthy food products in the developing countries such as China and India are the major driving factors in the region. China and India are projected to be the potential markets for dairy ingredients in the next five years. Dairy ingredient manufacturers such as Fonterra Co-operative Group (New Zealand) and Devondale Murray Goulburn (Australia) have been expanding their production facilities to cater to the growing demand from Asia, Africa, and the Middle East. The North American market is expected to hold potential for superior quality innovative products for end-consumers who prefer nutrition-rich products.

Key players identified in the market for dairy ingredients include FrieslandCampina (Netherlands), Fonterra Co-operative Group (New Zealand), Dairy Farmers of America (U.S.), Arla Foods (Denmark), Glanbia PLC (Ireland), Saputo Inc. (Canada), Groupe Lactalis (Germany), and Devondale Murray Goulburn (Australia). These players have a strong presence in the global dairy ingredients market.

The key market players adopted various growth strategies such as acquisitions & mergers, new product launches & developments, and expansion of business operations to meet the growing demand for nutrient-rich food. The leading players focused on expanding their operations in emerging markets and strengthening their R&D capabilities by investing in advanced technology, to offer a diversified product portfolio for different applications. The key driving factors of the dairy ingredients market include increase in demand for healthy and nutritional products, rise in number of health conscious consumers, and economic growth in developing countries with increase in demand for protein-based diets.