The global dairy ingredients market is projected to stay on a positive growth trajectory over the forecast period, 2020-2030. The global market is expanding as a result of an exponentially rising populace which is encouraging higher demand for dairy products. In spite of facing a breakdown on the onset of COVID-19, increased uptake of milk and related products is keeping demand afloat of dairy ingredients. Moreover, market players are establishing efficient links with government entities to improve their presence in regional markets.
“Although sales substantially dropped in the initial months due to COVID-19 inflicted lockdowns, demand has recovered in due course. Since governments broaden fiscal stimuli, dairy market players are pushed to increase output, thus sustaining the market.” says an FMI analyst.
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Dairy Ingredients Market – Key Highlights
- Milk powder is anticipated to extend at a significant pace, due to increased implementation of casein and whey proteins to produce dairy products.
- Bakery and confectionery application will remain key application throughout the forecast period.
- E-commerce sales channels is anticipated to gain traction amid the COVID-19 crisis.
- Livestock-sourced dairy products will remain dominant, due to higher bovine milk uptake.
- APAC will remain the largest and fastest growing dairy ingredient market, throughout the forecast period.
Dairy Ingredients Market – Drivers
- Population expansion has boosted demand for dairy ingredients as well as offering expansion scope.
- Strategic alliances will government bodies will assist in market growth
- Growing awareness regarding physical health will foster demand for the market over forecast period.
- Technological progressions to improve production competence, rising youth populace demanding sports & energy drinks are the favoring expansion of the dairy ingredient market.
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Dairy Ingredients Market – Restraints
- Rising demand for substitutes, such as plant protein and customers preference for vegan products, limits he overall market growth.
- Growing cases of lactose intolerance and milk allergies can negatively impact the market growth.
COVID-19 Impact on the Market
The COVID-19 pandemic has sky-rocketed the sales of dairy ingredient products all over the world. Since more customers drift towards usage of dairy products due to supposed nutritional benefits, sales have thrived reliably in recent months. While, the onset of the pandemic reported a substantial downswing owing to the stringent lockdowns.
Competitive Landscape
Key companies identified in the dairy ingredients market are AMCO Proteins, Lactalis Group, Cayuga Dairy Ingredients, Arla Foods, Epi Ingredients, Dairy Farmers of America, FrieslandCampina, Fonterra Co-operative Group, Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), Glanbia Plc, Kerry Group, Ingredia SA, Meiji Holdings Co. Ltd. and Megmilk Snow Brand Co. Ltd.
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Collaborations, acquisitions, product launches and advanced r&d are the key strategies adopted by the aforementioned players. Moreover, a few players also participate in trade fairs and exhibitions to outspread product outreach to new consumers. In addition, they are seeking to tap developing markets.
About the Study
The study offers readers a comprehensive assessment of the Dairy Ingredients market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of type (proteins, milk powder, milk fat concentrates, lactose & its derivatives and other types), livestock (livestock and other stock), application (bakery & confectionery, dairy products, sports nutrition products, infant formulas and other applications) and distribution channel (e-commerce, specialty retailers, supermarket & hypermarket and others), across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends In the Market
3.1.1. Trend of Growing Consciousness About Grooming Among Consumers
3.1.2. Product Premiumization
3.1.3. Consumers Selecting for At-home Services, Using e-Commerce
3.1.4. Rise in Dairy Trial Ups Consumption
3.1.5. Changing Retail landscape
3.1.6. Packaging, A Key To Brand Differentiation For Dairy
3.1.7. Globalization Impacting Lifestyles
3.2. Product Innovation Trends
3.2.1. Companies Increasingly Spending on R&D and Stepping Up Innovation
3.2.2. Growing Consumer Interest in Multifunctional Products
3.2.3. Prominent Players are Now Diversifying Into other Profitable Segments
3.2.4. Evolution in Product Design
3.3. Future Prospects of Dairy Industry
3.3.1. Factors Fuelling Growth
3.3.2. Influx of Brands
3.3.3. Innovative Distribution & Marketing Strategies