The global milk protein market is estimated to grow from US$11.791 billion in 2020 to US$21.342 billion in 2027 at a CAGR of 8.85%.
Due to the increasing concern about health and the adverse impact of many protein supplements consumed in the gym, youngsters around the world have started to become aware of the health benefits of milk and milk products. The protein consumed through milk has no side effects on the body. This has led to an increase in the market size and is expected to show the same steady growth for the next five to six years. North America, Europe, and Asia-Pacific are the leading regions in the milk protein market. Royal Friesland Campina N.V. and Fonterra Co-operative Group Limited are among the few major players who are leading in the milk protein market.
Factors driving the milk protein market Due to the increase in awareness regarding the benefits of a healthy diet, people have shifted their priority to dairy-based protein supplements. Additionally, in developed countries, a large part of the population has a hectic lifestyle due to which they suffer from very poor metabolic health. Milk protein helps in rebuilding body tissue and increases the potential of the immune system as well. Milk products have a high amount of whey and casein proteins. These are the supplements that have a high demand for consumption. Dairy products are used for a wide range of food product preparation, purposes, such as thickening the food product, gelling, modifying the food texture, and foaming a food product. This is likely to drive the demand for the milk protein market.
The vegan population who strictly consumes only plant-based food products and restricts the consumption of food products made from animals are the ones who avoid dairy products. Instead, they consume the required nutrients and proteins like the milk protein from the plants. Thus, the demand for plant-based proteins will also rise in the upcoming year. It has been observed that since 2019, the vegan food product market has shown growth at a CAGR of X.X%.
The Impact of COVID-19 on the Global Milk Protein Market:
Due to the pandemic, many governments globally imposed lockdowns. This has directly affected the transportation economy. Even other industries went on a halt for around a year. The global milk protein market was also severely impacted as a result of this. The process of making milk, or the ingredients required to make the milk concentrate, raises the price. Thus, the overall economy needed for the production got higher, this also raised the milk price during the same period. Thus, it affected the milk protein industry and took away many customers from consumption. An increase in the global hunger rate is evidence of a decrease in food consumption. Plus, according to a survey conducted in the UK, there is around 55% of vegan consumption post lockdown. This is due to a threat among a major group all over the world to animal-related products as the COVID-19 itself has a strong connection with an animal (bat). Despite all these reasons, the milk protein market has still marked growth as an attribute to the healthy factors of milk and the key strategies of the market players.
Initiatives by market players
|Market size value in 2020||US$11.791 billion|
|Market size value in 2027||US$21.342 billion|
|Growth Rate||CAGR of 8.85% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Forms, Application, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||AMCO proteins, Parag Milk Foods, Royal FrieslandCampina N.V., Saputo Inc., Kerry Group plc, Havero Hoogwegt Group, Arla Foods amba, Group Lactalis, Theo Muller Group, Fonterra Co-Operative Group Limited|
|Customization scope||Free report customization with purchase|
KEY MARKET SEGMENTS
Frequently Asked Questions (FAQs)
Q1. What will be the milk protein market size by 2027?
A1. The global milk protein market is estimated to reach a market size of US$21.342 billion by 2027.
Q2. What is the size of the global milk protein market?
A2. Milk Protein Market was valued at US$11.791 billion in 2020.
Q3. What are the growth prospects for the milk protein market?
A3. The milk protein market is estimated to grow at a CAGR of 8.85% during the forecast period.
Q4. What factors are anticipated to drive the milk protein market growth?
A4. With the increase in awareness regarding the benefits of a healthy diet, people have shifted their priority to dairy-based protein supplements led to an increase in the demand for the milk protein market.
Q5. How is the global milk protein market segmented?
A5. The milk protein market has been segmented by type, forms, application, and geography.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. GLOBAL MILK PROTEIN MARKET BY TYPE
5.3. Whey protein
6. GLOBAL MILK PROTEIN MARKET BY FORMS
7. GLOBAL MILK PROTEIN MARKET BY APPLICATIONS
7.4. Dietary Supplements
8. GLOBAL MILK PROTEIN MARKET BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. Middle East and Africa
8.5.2. Saudi Arabia
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. AMCO proteins
10.2. Parag Milk Foods
10.3. Royal FrieslandCampina N.V.
10.4. Saputo Inc.
10.5. Kerry Group plc
10.6. Havero Hoogwegt Group
10.7. Arla Foods amba
10.8. Group Lactalis
10.9. Theo Muller Group
10.10. Fonterra Co-Operative Group Limited
Parag Milk Foods
Royal FrieslandCampina N.V.
Kerry Group plc
Havero Hoogwegt Group
Arla Foods amba
Theo Muller Group
Fonterra Co-Operative Group Limited
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