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What Will Be the Growth Trajectory of the Milk Protein Market from 2024 to 2033?

The market size of milk protein has experienced robust growth in the past years. Projected to increase from $12.64 billion in 2023 to $13.63 billion in 2024, it is expected to have a compound annual growth rate (CAGR) of 7.8%. The expansion in the prior years is a result of advancements in nutritional science research, escalating health and wellness tendencies, heightened demand in sports nutrition, growth of functional food and beverages, and a transition towards plant-based alternatives.

The market size for milk protein is predicted to experience robust expansion in the coming years, with projections indicating growth to $18.86 billion by 2028, driven by a compound annual growth rate (CAGR) of 8.5%. Several variables contributing to the growth during the forecast period encompass alterations in dietary habits, environmentally-friendly manufacturing approaches, advancements in nutritional science research, development of plant-based alternatives, broadening of the functional food and beverage sector, and increased usage in baby formula. Key trends anticipated throughout the forecast period include growing preference for premium protein sources, ongoing research and advancements in nutritional science, customized and specialty products, technological progression in processing, concerns about sustainability and mindful consumption.

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What Are the Primary Growth Drivers for the milk protein Market?

An increase in the rate of infant births is predicted to trigger growth in the milk protein market. The infant birth rate is defined as the total number of births as a proportion of the entire population, providing a demographic representation of birth occurrences. As this rate increases, the demand for fulfilling infants’ nutritional needs will also grow, while milk protein can effectively address these needs and stimulate market development. For example, in May 2022, the CDC (Centers for Disease Control and Prevention), a public health agency in the US, reported a 1% increase in the birth rate for the first time in seven years, rising from 55.6 in 2020 to 56.6 in 2021. Hence, the increasing infant birth rate fuels the expansion of the milk protein market.

What Are the Defining Segments of the Milk Protein Market?

1) By Type: Milk Protein Concentrate, Milk Protein Isolate [MPI], Milk Protein Hydrolysates, Casein And Caseinates, Whey Protein Concentrate, Whey Protein Isolate, Other Types

2) By Form: Dry, Liquid

3) By Livestock: Cow, Buffalo, Goat

4) By Application: Dairy Products, Frozen Desserts, Infant Formula, Dietary Supplements, Bakery, Confectionery, Beverages, Sweet, Savory Snacks

5) By Distribution Channel: Online, Offline

What Trends Are Revolutionizing Standards in the Milk Protein Market?

Product innovation is being identified as a central trend within the milk protein market. Dominant entities in this market are focusing on generating new technological breakthroughs to enhance their competitive edge. For instance, Arla Foods, a multinational cooperative that tops the list of dairy product producers in Danish-Swedish region, launched Lacprodan ISO in September 2022. This new product for protein bars possesses unique characteristics: it is made from premium, high-quality protein, it has low sugar content, and it has higher protein constituents. Lacprodan ISO, a ready-to-mix product, is comprised of whey protein isolate and dairy proteins. It is likely to adopt a sugar-free alternative thereby providing a solution for individuals with digestive issues.

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What Regions Are Propelling Growth in the Milk Protein Industry?

North America was the largest region in the milk protein market share in 2023. The regions covered in the milk protein market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Milk Protein Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the milk protein market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Milk Protein Market Include

1. Milk Protein Market Executive Summary

2. Milk Protein Market Segments

3. Milk Protein Market Size And Template Market Growth Rate

4. Key Milk Protein Market Trends

5. Major Milk Protein Market Drivers

……

25. Key Mergers And Acquisitions In The Milk Protein Market

26. Top Milk Protein Companies

27. Milk Protein Market Opportunities And Strategies

28. Milk Protein Market, Conclusions And Recommendations

29. Appendix

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