DAIRY PROTEIN MARKET ANALYSIS

Dairy Protein Market, by Product Type (Milk Protein Concentrates (MPC), Whey Protein Concentrates (WPC), Milk Protein Isolates (MPI), Whey Protein Isolates (WPI), Whey Protein Hydrolysate (WPH), and Others (Casein, Lactoferrin, etc.)), by Application (Dairy Products, Bakery & Confectionary, Beauty & Personal Care, and Nutraceuticals), and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Dynamics:

Dairy proteins such as whey proteins are widely used in preparation of bakery products to improve texture. Growing bakery and confectionary industry globally is expected to drive growth of global dairy protein market over the forecast period. For instance, according to the report, ‘Sector Trend Analysis – Baked goods in the United States and Canada’, published by the Department of Agriculture and Agri-food of Government of Canada, in October 2018, baked goods industry was valued at US$ 296.4 billion at retails sales in 2013 and reached to US$ 352.8 billion at retails sales in 2017, exhibiting a CAGR of 4.5% for the period 2013-2017.
Moreover, key players in dairy protein market are focusing on offering new and high quality dairy proteins in order to increase their consumer base. For instance, Arla Foods Ingredients Group P/S, a Denmark-based company, offers ‘Nutrilac’, a range of milk based proteins such as whey for bakery applications. Company states that whey protein improves product’s taste, texture, and moistness. Company also claims that whey proteins are potential substitute for egg and therefore provide options for eggless bakery products with similar properties provided by egg.
However, increasing trend of vegan products is expected to restrain the growth of dairy protein market. Availability of various vegan protein sources such as soy proteins pea protein or hemp protein pose challenge to the global dairy protein market growth.