Casein & Casein Derivatives Market is expected to register an impressive growth rate of 7% during the forecast period of 2019 to 2024 to reach USD 6.5 Billion by the end of 2024. Casein & derivatives are milk proteins obtained from the milk of cows, humans, sheep, buffalo, and others. The notable growth of the casein & casein derivatives market can be attributed to the surging demand for dietary supplements, expansion of prominent dairy-based vendors, rising demand for industrial products, and increasing consumption of protein and vitality bars and caffeinated drinks. Rising demand for halal cosmetics in the Middle East markets such as Iran, Saudi Arabia, and Jordan is also driving the market growth of casein and casein derivatives.
In the US and Canada, consumers are shifting their preferences from dairy-based protein, such as casein protein and casein protein powder, to plant-based proteins, which in turn is hampering the growth of casein & derivatives market. Increasing adoption of veganism, especially in North America, is one of the major factors responsible for the changing consumer preferences toward plant-based ingredients and products. Thus, the negative impact of veganism on the growth of casein & casein derivatives industry in North America is expected to have a global impact.
The global casein & casein derivatives industry has been segmented based on type, application, and region.
By type, the global casein & casein derivatives industry has been classified as casein, caseinates, casein hydrolysates, and others. The casein segment accounted for the largest market share in 2018. However, the caseinates segment is expected to register the highest CAGR during the forecast period.
Based on application, the global casein & casein derivatives industry has been categorized as food & beverages, industrial, and others. The food & beverages segment is further divided into dairy products, dietary supplements, functional food & beverages, and others. The food & beverages segment is expected to account for the largest revenue share of the market and exhibit the highest growth rate during the forecast period.
The global casein & casein derivatives market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American casein & casein derivatives industry has further been segmented into the US, Canada, and Mexico. The European casein & casein derivatives industry has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The casein & casein derivatives market in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The casein & casein derivatives industry in the rest of the world has been segmented into South America, the Middle East, and Africa.
American Casein Company (US), Charotar Casein Company (India), Clarion Casein Ltd. (India), Royal FrieslandCampina (Netherlands), Westland Milk Products (New Zealand), Epi-ingrédients (France), Erie Foods International Inc (US), Kerry Inc. (Ireland), Lactoprot Deutschland GmbH (Germany), and Armor Proteines (France) are some of the key players in the global casein & casein derivatives industry.
Regional Market Summary
Global Casein & Casein Derivatives Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
The European market is projected to dominate the global casein & casein derivatives market during the forecast period owing to the presence of key market players in the region. However, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period of 2019 to 2024 owing to the increasing demand for casein and casein-derived products such as casein supplements and casein protein foods in the regional markets such as India, China, Australia, and New Zealand.
Global Casein & Casein Derivatives Market, by Type
Global Casein & Casein Derivatives Market, by Application
Global Casein & Casein Derivatives Market, by Region