Global Milk Protein Market - Forecasts from 2022 to 2027

The global milk protein market is estimated to grow from US$11.791 billion in 2020 to US$21.342 billion in 2027 at a CAGR of 8.85%.

Due to the increasing concern about health and the adverse impact of many protein supplements consumed in the gym, youngsters around the world have started to become aware of the health benefits of milk and milk products. The protein consumed through milk has no side effects on the body. This has led to an increase in the market size and is expected to show the same steady growth for the next five to six years. North America, Europe, and Asia-Pacific are the leading regions in the milk protein market. Royal Friesland Campina N.V. and Fonterra Co-operative Group Limited are among the few major players who are leading in the milk protein market.

Factors driving the milk protein market Due to the increase in awareness regarding the benefits of a healthy diet, people have shifted their priority to dairy-based protein supplements. Additionally, in developed countries, a large part of the population has a hectic lifestyle due to which they suffer from very poor metabolic health. Milk protein helps in rebuilding body tissue and increases the potential of the immune system as well. Milk products have a high amount of whey and casein proteins. These are the supplements that have a high demand for consumption. Dairy products are used for a wide range of food product preparation, purposes, such as thickening the food product, gelling, modifying the food texture, and foaming a food product. This is likely to drive the demand for the milk protein market.

Restraining Factor

The vegan population who strictly consumes only plant-based food products and restricts the consumption of food products made from animals are the ones who avoid dairy products. Instead, they consume the required nutrients and proteins like the milk protein from the plants. Thus, the demand for plant-based proteins will also rise in the upcoming year. It has been observed that since 2019, the vegan food product market has shown growth at a CAGR of X.X%.

The Impact of COVID-19 on the Global Milk Protein Market:

Due to the pandemic, many governments globally imposed lockdowns. This has directly affected the transportation economy. Even other industries went on a halt for around a year. The global milk protein market was also severely impacted as a result of this. The process of making milk, or the ingredients required to make the milk concentrate, raises the price. Thus, the overall economy needed for the production got higher, this also raised the milk price during the same period. Thus, it affected the milk protein industry and took away many customers from consumption. An increase in the global hunger rate is evidence of a decrease in food consumption. Plus, according to a survey conducted in the UK, there is around 55% of vegan consumption post lockdown. This is due to a threat among a major group all over the world to animal-related products as the COVID-19 itself has a strong connection with an animal (bat). Despite all these reasons, the milk protein market has still marked growth as an attribute to the healthy factors of milk and the key strategies of the market players.

Initiatives by market players

• In 2019, AMCO Protein, which is a dairy protein manufacturing company for food and beverages, has reported that there is a rise in the market for MPC (milk protein concentrated) and MPI (milk protein isolated) products. These types of products contain 80% and 90% protein, respectively.

• In August 2020, Parag Milk Foods launched its new product line of pride cow curd named "Avvatar". It is said to be made up of pure pride pow milk.

• Whereas, in 2019, a collaboration between Friesland Campina institute and Wageningen University and Research, China institute took place. This conference was brought to you to promote and encourage research in nutrition, dairy products, and health.

• In February 2019, GAIL's launched a new sourdough stick. This new product is a perfect combination of Clothbound Cheddar, roasted ham, and mustard butter. It has also introduced Quicke's Whey Butter. In October, it also introduced a loaf made from leftover bread. It is termed the UK's first loaf.

• In 2019, India's organic dairy brand "Happy Milk" announced the launch of a new product named "Mishti Doi" which is made up of farm-fresh organic milk.

• In 2019, Shaken Udder introduced two new flavours in their series of milkshakes. These flavours include chocolate and strawberry.

• In the same year, that is 2019, Borden Cheese came up with an expansion in its cheese products by adding whole milk Mozzarella String Cheese.

• In 2019, Muller launched its new yoghurt that is fat-free in countries such as UK and Ireland. The name of this new yogurt product is Mullerlight Amore.

KEY MARKET SEGMENTS

By Type

• Casein
• Whey protein

By Forms

• Liquid
• Dry

By Application

• Bakery
• Beverages
• Dietary Supplements
• Others

By Geography

• North America
  • USA
  • Canada
  • Mexico

• South America
  • Brazil
  • Argentina
  • Others

• Europe
  • Germany
  • France
  • United Kingdom
  • Spain
  • Others

• Middle East and Africa
  • Israel
  • Saudi Arabia
  • Others

• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Taiwan
  • Indonesia
  • Others