Global Milk Protein Market projected to grow at a CAGR of 9.1% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Milk Protein Market by Type (Whey Protein, Casein & Derivatives, Milk Protein Concentrate), Form (Solid, Liquid), Application (Nutrition, Food & Beverages, Feed, Personal Care & Cosmetics, Others), Regions, and Global Forecast 2020-2027.
The global milk protein market is expected to grow from USD 38 billion in 2019 to USD 76.27 billion by 2027, at a CAGR of 9.1% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for milk protein and is expected to grow at the highest CAGR during the forecast period. This is due to factors like the rise in purchasing power of the consumer, growth in awareness about dairy proteins and the increasing demand for dietary supplements. In 2018, North America was the majority shareholder globally.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the global milk protein market are Sachsenmilch Leppersdorf GmbH, Fonterra Co-operative Group Limited, Glanbia PLC, Amco Protein, Hoogwegt Groep B.V., Arla Foods amba, Saputo Inc., Groupe Lactalis S.A., Kerry Group plc, Koninklijke FrieslandCampina N.V., Glanbia PLC, Theo Müller Group, Archer Daniels Midland Company, Schreiber Foods, Cabot Creamery, and Dana Dairy Group, among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global milk protein market.
On the basis of type, the market has been segmented into whey protein, casein & derivatives, and milk protein concentrate. The whey protein segmented held the largest share in 2018 since it is the preferred choice of protein supplement among bodybuilders, athletes, gymnasts and other similar consumers. On the basis of form, the market has been segmented into solid and liquid. The liquid segment is estimated to lead the market over the forecast period because of benefits like long shelf life. On the basis of application, the market has been segmented into nutrition, food & beverages, feed, personal care & cosmetics, and others. The nutrition segment is expected to register the highest CAGR among other segments, and the food & beverages segment is anticipated to account for approximately half of the global share. Dairy proteins are used for numerous purposes in food & beverage items. The industry is currently aiming for improved versatility of its ingredients, which has contributed to growing demand for dairy proteins.
About the report:
The global milk protein market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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