PUNE, INDIA-- March 08, 2022 -- Global dairy ingredients market is estimated to total USD ~60 Bn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach USD ~90 Bn by 2032, rising at a CAGR of 4.4% between 2022 and 2032.

The global dairy ingredients market has expanded significantly since the beginning of 2022, owing to increasing milk products consumption amid heightened concerns over immunity enhancement to counter the novel coronavirus pandemic. Characterized as an essential service, milk production has witnessed a record increase, prompting manufacturers to augment their presence in key geographies.

In its recently published report, ESOMAR-certified Future Market Insights (FMI) offers an exhaustive yet unbiased analysis of the dairy ingredients market and takes into account the key dynamics responsible for the projected growth trajectory through 2032.

COVID-19 Impact Insights

The COVID-19 pandemic has escalated sales of dairy ingredient products worldwide. As more consumers drift towards the consumption of dairy products owing to perceived nutritional benefits, sales have proliferated credibly in recent months.

Although, the initial months of the pandemic reported a significant downswing due to the imposition of stringent lockdowns. Beverage giant Yakult, for instance, reported a significant drop in sales in the first two months of the pandemic crisis, to the tune of 10% in February.

Competitive Landscape

The global dairy ingredients market is characterized by the presence of numerous manufacturers, rendering the market competitive in nature. Prominent players in the landscape include AMCO Proteins, Fonterra Co-operative Group, Gujarat Co-operative Milk Marketing Federation Ltd. (GCMMF), Meiji Holdings Co. Ltd, Nestle S.A, Kerry Group, and Ingredia SA among others.

In 2017, Nestle Group announced the launch of its MILO cocoa-malt beverage in the Indian sub-continent, which was realized in 2021. This launch has helped Indian consumers enhance doses of essential micronutrients such as Vitamins B2, B3, B6, B12, C, and D respectively.

More Insights on FMI’s Global Dairy Ingredients Market Report

The study reveals growth projections on the global dairy ingredients market on the basis of type (proteins, milk powder, milk fat concentrates, lactose & its derivatives and other types), livestock (livestock and other stock), application (bakery & confectionery, dairy products, sports nutrition products, infant formulas, and other applications) and distribution channel (e-commerce, specialty retailers, supermarket & hypermarket and others) across six prominent regions.