One of the main components of infant formula is milk protein concentrate. Therefore, the sharp increase in the demand for infant formula is likely to stimulate the growth of milk
PORTLAND, OR, UNITED STATES, December 2, 2021 /EINPresswire.com/ – Milk Protein Concentrates Market by Application and Concentration: Analysis of Industry Opportunities and Forecast, 2021-2027, âThe global Milk Protein Concentrates market size was estimated at 3,009.9 million. dollars in 2019 and is expected to reach $ 3,923.6 million by 2027, registering a CAGR of 5.3%. North America was the biggest contributor to revenue, accounting for the highest value share in 2019, and is expected to grow at a CAGR of 4.8%. The United States was the top country in terms of milk protein concentrate consumption and is expected to continue this trend during the forecast period.
Milk Protein Concentrate is a concentrated milk protein product with a protein concentration of up to 40%. It is widely used in the food industry and nutraceutical industry as a key ingredient to produce protein shakes, packaged products, and convenience products.
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The growth of the milk protein concentrates market can be attributed to the sharp increase in the demand for nutritional foods in the market. Due to the growing awareness of healthy and nutritional food products, people are turning to healthy eating and increasing their protein intake, by using protein supplements, thus fueling the growth of the Whey Protein Concentrate market. The busy lifestyle and increasing participation of women in the labor market have focused their attention on nutritional supplements for their babies, which are offered by infant formula. One of the main components of infant formula is milk protein concentrate, which is likely to drive the demand for milk protein in the future. Protein supplements and protein food products are still in their infancy in various parts of Africa such as Zimbabwe, Liberia, Eritrea, Burundi and other developing regions. These countries still remain untapped, which should provide a lucrative opportunity for the growth of the milk protein concentrates market.
The milk protein concentrates market is segmented on the basis of application, concentration, and region. Depending on the application, the market is categorized into packaged products, nutritional products, infant formula, and others (ice cream and desserts). On the basis of concentration, the market is fragmented into low, middle and high. With regard to regions, the milk protein concentrates market has been studied in North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Italy, Spain and the rest of the world). ‘Europe), Asia-Pacific (China, India, Japan, Australia and the rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
Based on the Milk Protein Concentrates market forecast by application, the packaged products segment dominated the market in 2019 and is expected to remain dominant throughout the forecast period. The growth in this segment can be attributed to increased consumer affinity for packaged foods rather than cooked foods. The infant formula segment is expected to experience a modest growth rate throughout the forecast, owing to the increase in the dependence of women on infant formula due to the increase in the female labor force. in the whole world.
Based on the analysis of the Milk Protein Concentrates market by concentration, the high segment dominated the market. The growth in this segment can be attributed to the increased consumption of nutraceuticals such as protein supplements, RTD milkshakes and functional foods, as milk protein concentrate is a key ingredient in these products. The average segment is expected to grow at a stable CAGR of 5.4% throughout the forecast period attributed to increasing demand for high protein foods among the global population.
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Regionally, North America was the largest market in terms of revenue generation, with nearly a third of the global share in 2019. The United States is expected to experience notable growth throughout the period forecast. On the contrary, Asia-Pacific and LAMEA are expected to show a high growth rate in the near future. The growth of these regions is attributed to the increased adoption of high protein packaged products.
Leading players in the Whey Protein Concentrates market have relied on strategies such as product launch and innovation, to expand their market share and remain relevant in the global Whey Protein Concentrates market share. The main players in the milk protein concentrates industry are Kerry Group Plc, Arla Foods Amba, Fitsa Group, Lactalis Corporation, Cabot Creamery Cooperative, Dana Dairy Group, Royal Frieslandcampina NV, Saputo Inc., Schreiber Foods Inc. and Fonterra Cooperative. Limited Group.
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