According to the research report titled ‘Global Dairy Ingredients Market Size study, by Type (Milk Powders, Milk Protein Concentrate & Milk Protein Isolate, Whey Ingredients, Lactose & Derivatives, and Others), by Application (Bakery & Confectionery, Dairy Products, Infant Milk Formula, Sports & Clinical Nutrition, Other) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global dairy ingredients market is anticipated to register a strong y-o-y growth rate of 5.83% during the forecast timeframe 2021-2027.
 

As per the findings of the report, increasing milk production due to its usage in everyday food diet is primarily driving global dairy ingredients market growth. In fact, according to World Bank data, global milk production increased from 530 million tons in 1988 to 843 million tons in 2018.
 

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Moreover, favorable government initiatives and policies for promoting agriculture is another major growth propeller. For instance, the Indian government introduced Innovation and Agri-entrepreneurship Development initiative in 2020 to encourage agri-entrepreneurship by providing financial assistance to new ventures.
 

Escalating food demand as a result of expanding global population is bolstering the demand in food and beverage sector, subsequently enhancing the industry remuneration prospects. However, rising adoption of veganism and surge in cases of lactose intolerance may hinder market development over the projection period.
 

From a regional perspective, the research literature covers North America (U.S., Canada), Europe (U.K., Germany, Spain, France, Italy, ROE), Asia Pacific (Japan, China, South Korea, India, Australia, RoAPAC), and Latin America (Mexico and Brazil).
 

Experts cite that Asia-Pacific captured a significant portion of the overall dairy ingredients industry share in the recent past and is expected to exhibit a remarkable CAGR over 2021-2027. This can be attributed to huge investments by private companies together with growing production of milk products to address the high demand from end-use industries in the region.
 

Considering the competitive landscape, Glanbia Plc, Fonterra Co-operative Group Ltd., Dairy Farmers of America Inc., Arla Foods amba, Lactalis Group, AMCO Proteins, Cayuga Milk Ingredients, Epi Ingredients, Royal FrieslandCampina N.V., and Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) are the major companies influencing the market trends.