MILK PROTEIN CONCENTRATE MARKET ANALYSIS

Milk Protein Concentrate MarketSize and Trends

Market Outlook

• Among product type, protein <70% segment accounted for the highest market share in 2017, owing to high availability and less cost of protein <70% compared to other higher milk protein concentrates.
• Among type of applications, food and beverages segment held dominant position in the market in 2017. Milk protein concentrate are widely being used in food and beverages such as soup, protein bars, and nutrition beverages, owing to their solubility, emulsification, foaming, whipping, and water binding property. Furthermore, this segment is expected to be dominant in terms of revenue share over the forecast period.
• North America market accounted for the highest market share in the global milk protein concentrate market in 2017. The region is projected to maintain its dominance over the forecast period, owing to decrease in meat protein consumption, decrease in sedentary lifestyle, and increasing online retail platform which makes milk protein concentrates product available in the market.
• Asia Pacific is projected to be the fastest growing region in the market over the forecast period. Key factors such as wide food preferences, increasing health consciousness and urbanization & westernization are driving the growth of the market. According to Food Agriculture Organization (FAO), China and India are in top producing countries and this is expected to create a conducive environment for growth of the market in the region. India produced 165.4 billion liters of milk while China produced 40 billion liters in 2016. Such abundant availability of milk for production of protein milk concentrates is expected to propel growth of the market in Asia Pacific.