The Casein and Caseinate Market are Estimated to Witness High Growth Owing to Rising Demand from the Food and Beverage Industry and Growing Nutraceutical Applications
The casein and caseinate market is estimated to be valued at USD 2.96 Bn in 2024, exhibiting a CAGR of 5.3% over the forecast period (2024-2031). The demand for casein and caseinate is witnessing high growth owing to the increasing consumption of processed and packaged food products and dietary supplements globally. Furthermore, the ability of casein to form films, emulsions, and foams is leading to its increased demand in various food applications such as bakery products, creamers, processed cheese, and infant formula.
Market Dynamics:
Rising demand from food and beverage industry: Casein and caseinates are widely used as functional ingredients in various food products such as dairy applications, confectionery, processed cheese, desserts, etc. owing to their nutrition value, texture, and stability. The increasing demand for packaged and processed food worldwide has been a major driver for the growth of the casein and caseinate market.
Growing nutraceutical applications: Casein and caseinates provide nutrition and health benefits. They are rich in proteins and essential amino acids that makes them suitable for various nutraceutical applications such as clinical nutrition, dietary supplements, functional beverages, etc.
Market Drivers, Restraints and Opportunities for the Casein and Caseinate Market:
Increasing Demand for Nutritious Food Products
The demand for casein and caseinate is increasing significantly owing to the rising health awareness among consumers. Casein and caseinate are high-quality proteins that are easily digestible and help build muscle mass. They are commonly used in various protein-fortified food products like protein powders, bars, shakes, etc. The growing health and wellness trend has pushed the demand for nutritious food products which is driving the casein and caseinate market.
Wide Application in Various Industries
Casein and caseinate have wide industrial applications apart from the food industry. They are used as coatings, adhesives, sealants, emulsifiers, binders, and stabilizers in industries like paints & coatings, pharmaceuticals, cosmetics, paper, etc. The robust growth of end-use industries is fueling the demand for casein and caseinate. Their excellent film-forming, water-binding and stabilizing properties make them first choice for various industrial applications. The expanding applications are a key growth factor for the casein and caseinate market.
Volatility in Raw Material Prices
Milk is the primary raw material required for the production of casein and caseinate. The prices of milk are dependent on climatic conditions and government regulations. Any fluctuations in milk production directly impacts the prices of casein and caseinate. Additionally, the prices of other raw materials like rennet and acids used in the manufacturing process also witness changes periodically. Unpredictable raw material prices can restrain the casein and caseinate market growth.
Availability of Substitute Products
There are various alternative protein ingredients available that can replace casein and caseinate in certain food applications. Soy proteins, pea proteins, whey proteins, etc. are used as substitutes especially due to their lower prices. This substitutability poses a major restraint for the casein and caseinate market. Additionally, plant-based alternatives are gaining popularity due to the rising vegan demographic. This poses a threat to casein and caseinate sales.
Growing Demand from Developing Nations
Developing countries like India, Brazil, China, Mexico, etc. are emerging as high growth markets for casein and caseinate. With the rapid urbanization and economic development, the demand for processed and packaged food products is surging in these nations. This opens tremendous opportunities for casein and caseinate producers to tap into new markets. Additionally, growth of end-use industries would further augment the demand for casein & caseinate.
Product Innovation and New Application Areas
Continuous research and development can help discover new application areas and product innovations using casein and caseinate. Companies should invest in innovating new ways to leverage casein and caseinate properties to capture untapped opportunities.
Link - https://www.coherentmarketinsights.com/market-insight/casein-and-caseinate-market-3451
Key Developments:
- In November 2023, Prinova announced its acquisition of Flavor Tec, a Brazil-based producer of citrus oil. This strategic move is expected to facilitate Prinova's expansion into the South American market and strengthen its technological and operational capabilities.
- In April 2024, Berjé Inc. completed the acquisition of Global Citrus International and Acelim del Peru, expanding its presence in the essential oils and fruit products market. These Peruvian entities have significant regional operations and have established strategic partnerships with Citrolim SA de CV in Mexico, which will help Berjé Inc. source high-quality ingredients and strengthen its global supply chain.
- Citromax announced a big USD 50 million investment in February 2023 targeted at increasing its citrus processing plants in Brazil. This expansion includes expanding their plants and hopes to increase the industry of citrus oil supplies.
- Symrise AG is actively implementing the development of the product line with the new citrus oil product 'Ying Yi'. It brands its products by sourcing raw materials sustainably and applying advanced extraction designs to improve the sensory and overall output.
Key Player:
Nestlé S.A, Danone, Arla Foods, FrieslandCampina, Fonterra, Westland Milk Products, Groupe Lactalis, Saputo, Royal Fries Campina N.V., and Savencia Fromage
