Milk Protein Market Research Report - Global Forecast till 2030

Milk Protein Market Research Report Information By Type (Milk Protein Concentrate, Milk Protein Isolate [MPI], Milk Protein Hydrolysates, Casein; Caseinates, Whey Protein Concentrate, Whey Protein Isolate And Others), By Form (Dry And Liquid), By Application (Dairy Products, Frozen Desserts, Infant Formula, Dietary Supplements, Bakery, Confectionery, Beverages, Sweet, Savory Snacks And Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.

ID: MRFR/F-B & N/1707-CR | 150 Pages | Published By Sakshi Gupta on February 2021         

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Global Milk Protein Market Overview

Milk Protein Market Size was valued at USD 11.8 billion in 2022. The milk protein market industry is projected to grow from USD 12.6 Billion in 2023 to USD 18.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2023 - 2030). Increased Demand for Protein as a Nutritional and Functional Component, as well as Consumer Knowledge of Healthy Diets are the key market drivers enhancing the market growth.
Milk Protein Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Milk Protein Market Trends

  • The increased demand for nutritious food is a primary driver of market growth

The increased demand for nutritious food is a primary driver of the Milk protein market's rise. This is especially true for today's millennial young (this demographic group comprises the majority of populations in developing nations where demand for concentrated milk tends to be higher.

People in developed countries want nutrient-dense diets. This necessitates the use of milk concentrates. The rising demand for these products is also a driving force in the Milk protein sector. Rising consumer demand for products enriched with a varied array of milk-based proteins is driving this expansion. We estimate that moderate growth will continue until at least 2030. Nonetheless, the financial benefits of this sector are enormous. And that's why so many powerful people are getting engaged. Businesses use tactics such as research and development, mergers and acquisitions, and joint ventures to maintain their market share and positions in the industry.

Producers of milk protein concentrate components are investing much in research and development as the demand for nutritious foods that use milk concentrates grows. The goal is to develop a new generation of milk protein concentrates with a superior flavor and nutritional profile.

Milk Protein Market Segment Insights

Milk Protein Type Insights

The milk protein market segmentation, based on type, includes milk protein concentrate, milk protein isolate [mpi], milk protein hydrolysates, casein; caseinates, whey protein concentrate, whey protein isolate and others. The whey category held the largest share of the market in 2018. Whey protein components such as whey protein concentrate, and whey protein isolate are the most popular dairy protein additives among consumers. Furthermore, as demand for casein in industrial applications grows, the market for casein and derivatives is expected to develop at the fastest CAGR during the forecast period.

Milk Protein form Insights

The milk protein market segmentation, based on form, includes dry and liquid. The liquid category accounted for a sizable portion of the market. Solid is the most popular form of dairy protein in a variety of applications such as food and beverage, nutrition, personal care, and feed, among others, due to its extended shelf life and ease of handling. However, the liquid category is predicted to rise at a faster rate due to an increase in market consumption of ready-to-drink protein supplements.

Figure 1: Milk Protein Market, by form, 2022 & 2030 (USD billion)
Milk Protein Market, by form, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Milk Protein Application Insights

The milk protein market data has been bifurcated by application into dairy products, frozen desserts, infant formula, dietary supplements, bakery, confectionery, beverages, sweet, savory snacks and others. The food and beverage segment was dominant in 2021, accounting for over half of the market share, and is likely to maintain its dominance throughout the forecast period. Dairy proteins are utilized for a variety of purposes in food and beverage products, and the industry is aiming for improved functionality from its components, which has raised demand for dairy proteins. According to the dairy protein market prediction, rise in knowledge about the benefits of nutritional protein supplements globally, is predicted to boost demand for dairy protein ingredients throughout the market forecast period.

Milk Protein Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North American milk protein contributed the most to total revenue and is anticipated to expand at a CAGR of 5.4% over the projection period. The U.S. health and fitness business, according to International Health, Racquet & Sports club Association (IHRSA). The fitness sector is projected to expand more quickly and doesn't appear to be slowing down. This is due to an increase in American consumers living healthier lifestyles or partaking in activities that support active and healthy lifestyles. Over 20% of American adults currently belong to a fitness club, and this percentage is predicted to rise.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.



Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe milk protein market accounts for the second-largest market share Due to the rising demand for dairy proteins like milk protein concentrate in a variety of food and beverage preparations such bakery goods, snacks, and confectioneries, the market for these products is expected to expand rapidly. Whey protein and milk protein concentrate are in higher demand in Europe from the personal care and cosmetics sector. Further, the German milk protein market held the largest market share, and the UK milk protein market was the fastest growing market in the European region

The Asia-Pacific Milk Protein Market is expected to grow at the fastest CAGR from 2022 to 2030. Dairy Protein is widely employed in the food and beverage and nutrition industries in several Asian countries. With increased awareness of casein & derivatives and whey protein as sports or refreshment beverages, the market for casein & derivatives and whey protein is rising rapidly in the region. Moreover, China milk protein market held the largest market share, and the India milk protein market was the fastest growing market in the Asia-Pacific region

Milk Protein Key Market Players & Competitive Insights

To expand their product lines, major market players are investing a lot of money in R&D, which will spur further market growth for milk proteins. Participants in the market are also undertaking a variety of strategic initiatives to expand their footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. To grow and survive in a more cutthroat and competitive market climate, competitors in the milk protein sector must provide products that are affordable.

Manufacturing locally to cut operational costs is one of the main business methods used by manufacturers in the milk protein industry to benefit customers and develop the market sector. The milk protein sector has recently given medicine some of the most important advantages. Major players in the milk protein market, including Arla Foods amba (Denmark), Fonterra Co-Operative Group Ltd (New Zealand), Royal FrieslandCampina N.V. (Netherlands), and others, are seeking to increase market demand by funding R&D initiatives.

Irish-based Kerry Group plc is a publicly traded food business. It is traded on the London Stock Exchange and the Dublin ISEQ. Listowel's Kerry's Major Factory With the company's roots in the cooperative movement, its farmer-suppliers still hold a sizable stake in the business. As of 2022, Kerry Co-operative Creameries is still the company's biggest stakeholder. In May 2022, Kerry, the top nutrition firm in the world, launched the biggest and most technologically advanced taste producing facility in Africa

Fonterra Co-operative Group Limited is a worldwide publicly traded dairy co-operative in New Zealand owned by about 9,000 New Zealand farmers. The corporation accounts for over 30% of dairy exports [6, and its revenue exceeds NZ $22 billion, making it New Zealand's largest enterprise. As of 2022, it is the world's sixth-biggest dairy firm and the largest in the Southern Hemisphere. In April 2020, Fonterra introduced SureProteinTM SoftBar 1000, a milk protein with an extraordinarily soft chew to bar formulation. The component was developed to address the high protein, low sugar formulation needs of consumers.

Key Companies in the milk protein market includes

  • Royal FrieslandCampina N.V. (Netherlands)

  • Fonterra Co-Operative Group Limited (New Zealand)

  • Arla Foods amba (Denmark)

  • AMCO Proteins (US)

  • Saputo Inc. (Canada)

  • Glanbia plc (Ireland)

  • Kerry Group plc (Ireland)

  • Havero Hoogwegt Group (Netherlands)

  • Groupe Lactalis (France)

  • Theo Müller Group (German) among others

Milk Protein Industry Developments

In February 2022, ADM announced the successful pricing of its first sustainable bond. The funds raised will be used to support activities that will help the firm achieve its ESG goals. ADM decided to issue 2.900% notes with a maturity date of 2032 for a total principal amount of 750 million dollars. Subject to the fulfillment of customary closing conditions, the offering is anticipated to conclude on February 28, 2022.

In May 2022, the first plant-based product from Friesche Vlag for The Netherlands is released under the name Barista Oat. This oat beverage is perfect for cappuccinos or macchiatos because of its moderate flavor and ease of foaming. In response to rising customer demand for plant-based substitutes, it was introduced, giving coffee lovers more options.

In April 2022, as part of its comprehensive Nurturing a Better Planet sustainability program, FrieslandCampina released their climate strategy titled "On the route to carbon-neutral dairy." By no later than 2050, FrieslandCampina wants to produce dairy that is net carbon neutral. A major reduction in greenhouse gas emissions by 2030 serves as a milestone in the climate plan's defined aims and practical activities.

Milk Protein Market Segmentation

Milk Protein Type Outlook

  • Milk Protein Concentrate

  • Milk Protein Isolate [MPI]

  • Milk Protein Hydrolysates

  • Casein; Caseinates

  • Whey Protein Concentrate

  • Whey Protein Isolate

  • others

Milk Protein form Outlook

  • Dry

  • Liquid

Milk Protein Application Outlook

  • Dairy Products

  • Frozen Desserts

  • Infant Formula

  • Dietary Supplements

  • Bakery

  • Confectionery

  • Beverages

  • Sweet

  • Savory Snacks

  • others

Milk Protein Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Scope:

Report Attribute/Metric Details
Market Size2022 USD 11.8 billion
Market Size 2023 USD 12.6 billion
Market Size 2030 USD 18.8 billion
Compound Annual Growth Rate (CAGR) 6.90% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2019- 2021
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered  By Type, By Form, By Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Royal FrieslandCampina N.V. (Netherlands), Fonterra Co-Operative Group Limited (New Zealand), Arla Foods amba (Denmark), AMCO Proteins (US), Saputo Inc. (Canada), Glanbia plc (Ireland), Kerry Group plc (Ireland),
Key Market Opportunities Strive to create a new breed of delicious, nutrient-rich milk protein concentrates.
Key Market Dynamics Increasing knowledge of and interest in eating a healthy diet among individuals all over the world

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Frequently Asked Questions (FAQ) :

The milk protein market size was valued at USD 11.8 Billion in 2023.

The market is projected to grow at a CAGR of 6.90% during the forecast period, 2023-2030.

North America had the largest share in the market

The key players in the market are Royal FrieslandCampina N.V. (Netherlands), Fonterra Co-Operative Group Limited (New Zealand).

The whey milk protein category dominated the market in 2023.

The food and beverages had the largest share in the market.