Dairy ingredients market: APAC is estimated to account for 41% of the market’s growth from 2022 to 2027 – Technavio

NEW YORK, Dec. 7, 2023 /PRNewswire/ — The dairy ingredients market is segmented by type (milk powders, milk protein concentrates and milk protein isolates, whey ingredients, and others), application (bakery and confectionery, dairy products, infant milk formula, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The milk powders segment held the largest share of the market in 2022. The segment is estimated to witness significant growth during the forecast period. Milk powder is widely used in a variety of food products such as ice cream, sour milk, yogurt, chocolate, confectionery, baked goods, soups, and sauces. The consumption of these food products is increasing due to changing lifestyles, increased social media, and rising internet penetration. These factors are increasing the demand for milk powder in the food industry, which is driving the growth of the segment.

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Frequently Asked Questions:

What are the major trends in the market? 
Robust demand for organic food products is the primary trend in the market.At what rate is the market projected to grow?
The dairy ingredients market is estimated to grow at a CAGR of 7.3% between 2022 and 2027. The size of the market is forecast to increase by USD 29.36 billion during the forecast period.Who are the top players in the market?
The dairy ingredients market comprises of several market vendors, including Agropur Dairy Cooperative, Arla Foods Ingredients Group PS, Aurivo Co-operative Society Ltd., Dairy Farmers of America Inc., EUROSERUM, Fonterra Cooperative Group Ltd., Glanbia Plc, Hoogwegt, Inner Mongolia Yili Industrial, LACTALIS Ingredients, MEGMILK SNOW BRAND Co. Ltd., Morinaga Milk Industry Co. Ltd., Nestle SA, Royal FrieslandCampina NV, Saputo Inc. among others.What are the key market drivers and challenges?
The rising consumption of bakery and confectionery products is notably driving the market growth, although factors such as the rising vegan population may impede the market growth.What is the largest region in the market?
APAC will account for 41% of the market’s growth during the forecast period.

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The whey protein market is estimated to grow at a CAGR of 7.88% between 2022 and 2027. The size of the market is forecast to increase by USD 5,012.28 million.The coffee creamer market is estimated to grow at a CAGR of 4.68% between 2022 and 2027. The size of the market is forecast to increase by USD 2,884.85 million.

TOC

Executive SummaryMarket LandscapeMarket SizingHistoric Market SizeFive Forces AnalysisMarket Segmentation by TypeMarket Segmentation by ApplicationCustomer LandscapeGeographic LandscapeDrivers, Challenges, and TrendsCompany LandscapeCompany AnalysisAppendix

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