DAIRY PROTEIN MARKET ANALYSIS

Dairy Protein MarketSize and Trends

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.

Market Outlook:  

• Europe is expected to exhibit high growth in global dairy protein market over the forecast period owing to growing end-use industries such as bakery and beauty & personal care in the region. For instance, according to the data released by ‘Cosmetics Europe - The Personal Care Association’, in 2018, European cosmetics and personal care market accounted for a major revenue share globally, and was valued at about US$ 06 billion at retail sales price in 2018.
• Milk proteins are used in personal care products, owing to high content of essential amino acids which are vital for skin conditioning and hair conditioning. Hence, milk proteins find application in products such as shampoos, moisturizers, conditioners, and other personal care products. For instance, Korres Natural Products S.A., a personal care products company, offers cleansing and make-up removing wipes, formulated with hydrolyzed milk proteins. These wipes are used as facial wipes for cleansing the skin, removing face & eye makeup, and moisturize the skin.