The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Current Market Dynamics

• The milk protein market size has experienced robust growth.
• From $12.64 billion in 2023, it’s projected to reach $13.63 billion in 2024, with a CAGR of 7.8%.
• This growth stems from various factors:
  • Research and development in nutritional science.
  • Rising health and wellness trends.
  • Increasing demand for sports nutrition.
  • Growth in functional food and beverages.
  • Shift towards plant-based alternatives.

Future Outlook

• The market is poised for further expansion.
• Predicted to hit $18.86 billion by 2028, with a CAGR of 8.5%.
• Key drivers include:
  • Changing dietary patterns.
  • Sustainable production practices.
  • Research and development in nutritional science.
  • Innovation in plant-based alternatives.
  • Expanding functional food and beverage market.
  • Rising application in infant formula.

View More On The Milk Protein Market Report 2024 – https://www.thebusinessresearchcompany.com/report/milk-protein-global-market-report

Infant Birth Rate Surge Fuels Growth

• The rise in infant birth rate is a significant factor.
• Meeting nutritional needs of infants is crucial.
• Milk protein plays a vital role.
• Notably, in May 2022, the birth rate in the US increased by 1%, signifying potential market growth.

Market Players

• Major companies driving the milk protein market include:
  • Royal FrieslandCampina N.V.
  • Fonterra Co-operative Group Limited.
  • Arla Foods amba.
  • Saputo Inc.
  • Glanbia PLC.
  • Kerry Group PLC.
  • And many more.

Innovative Product Launches

• Product innovation is paramount.
• Companies focus on technological advancements.
• For example, Arla Foods launched Lacprodan ISO, a protein bar solution with unique properties.
• Features include high-quality protein, low sugar, and premium ingredients.

Saputo Bolsters Acquisition

• In May 2021, Saputo acquired the Reedsburg facility of Wisconsin Specialty Protein LLC for $30 million.
• This acquisition enhances Saputo’s international portfolio.
• It’s expected to expand production capacity and efficiency.

Market Segmentation

• The milk protein market is segmented by:
  • Type: Milk Protein Concentrate, Milk Protein Isolate, Milk Protein Hydrolysates, Casein And Caseinates, Whey Protein Concentrate, Whey Protein Isolate, and Others.
  • Form: Dry and Liquid.
  • Livestock: Cow, Buffalo, and Goat.
  • Application: Dairy Products, Frozen Desserts, Infant Formula, Dietary Supplements, Bakery, Confectionery, Beverages, Sweet, Savory Snacks.
  • Distribution Channel: Online and Offline.

Regional Analysis

• North America dominated the market share in 2023.

Conclusion

The milk protein market is on an upward trajectory, driven by evolving consumer preferences, technological innovations, and a focus on nutrition. With an array of product offerings and expanding applications, the market is set to witness substantial growth in the coming years. Companies that invest in research, innovation, and sustainability are likely to carve a significant niche in this thriving market landscape.

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The Milk Protein Global Market Report 2024  provides comprehensive insights on the milk protein market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the milk protein market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

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