According to the recent 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 expected to multiply with a CAGR of 5.83% over 2021-2027.
 

As per the report findings, worldwide dairy ingredients market growth can be credited to rising milk production as it is employed in several ways in regular food diets. In fact, according to the World Bank, milk production has increased from 530 million tons in 1988 to 843 million tons in 2018.
 

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Moreover, favorable government initiatives and policies relating to agriculture serve as major growth propellers. For instance, the Indian government introduced the Innovation and Agri-entrepreneurship Development initiative under the Rashtriya Krishi Vikas Yojana in 2020 to encourage Agri-entrepreneurship by providing financial assistance to new businesses. Similar initiatives by other governments across the globe are anticipated to amplify market growth in the ensuing years.
 

Further, booming population, subsequent surge in food demand, expanding food & beverage industry, and increasing requirement for milk protein in daily life are adding to global dairy ingredients industry progression.
 

Despite the positive outlook, rising adoption of veganism and a surge in lactose-intolerant consumers may stifle market growth over the study period.
 

Moving on to regional terrain, the report states that Asia-Pacific is the leading region in the world in terms of market share and is also expected to garner a strong growth rate over the forecast period, due to rising production of milk products, favorable government policies, increasing end-use industries of milk, and inflowing investments by private companies in the region.
 

Elaborating on competitive landscape, Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), Glanbia plc, Royal FrieslandCampina N.V., Fonterra Co-operative Group, EPI Ingredients, Dairy Farmers of America Inc. (DFA), Cayuga Dairy Ingredients LLC, Arla Foods, AMCO Proteins, and Lactalis Group are the major companies impacting global dairy ingredients market trends.