The modified milk ingredients market size has experienced robust growth in recent years, forecasted to increase from $107.97 billion in 2023 to $116.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth during the historic period can be attributed to the rising demand for organic dairy products, an increase in milk solids production, heightened health consciousness, and growing demands for health-promoting products, as well as increased exports of modified milk ingredients. The market is expected to reach $158.23 billion in 2028 at a CAGR of 8%. This anticipated growth is supported by the rising popularity of flavored beverages, a growing demand for functional foods and drinks, and protein supplements, along with an increasing use of milk ingredients. Key trends during the forecast period include innovations and technological advancements, the development of new technologies for manufacturing milk ingredients, and ongoing flavor innovations.
Global Modified Milk Ingredients Market Key Driver
The increasing demand for dairy products is expected to fuel the growth of the modified milk ingredients market. The demand for dairy products is driven by their rich nutritional content, which includes essential proteins, vitamins, and minerals, along with a growing consumer focus on health and wellness. Modified milk ingredients play a crucial role in the dairy industry by enhancing the functionality, texture, and nutritional value of dairy products, enabling manufacturers to meet diverse consumer needs and innovate with new formulations. For instance, in November 2023, the United States Department of Agriculture (USDA) projected that Australia's milk production would rise by 0.6% in 2024, reaching 8.50 million metric tons (MMT), following a stabilization in 2023 at an estimated 8.45 MMT after years of decline. Therefore, the rising demand for dairy products is driving the growth of the modified milk ingredients market.
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Global Modified Milk Ingredients Market Segments
The modified milk ingredients market covered in this report is segmented –
1) By Type: Calcium Reduced Skim Milk, Casein, Caseinates, Other Types
2) By Form: Liquid, Concentrated, Dry, Frozen, Reconstituted
3) By Application: Food And Beverages, Cosmetics And Personal Care, Nutraceuticals, Pharmaceuticals, Other Applications
4) By Distribution Channel: Business-To-Business (B2B), Business-To-Consumer (B2C)
By Geography:The regions covered in the modified milk ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the modified milk ingredients market in 2023, and is expected to be the fastest-growing region in the forecast period.
Major Modified Milk Ingredients Industry Players
Nestle SA, Danone S.A., Groupe Lactalis S.A., Fonterra Co-operative Group Limited, Saputo Inc., China Mengniu Dairy Co. Ltd., Kerry Group, Savencia Fromage And Dairy, Agropur Cooperative, Glanbia plc, Emmi Group, Bel Group, Royal A-ware, Vinamilk, Leprino Foods, Arla Foods Group, Schreiber Foods, Valio Ltd., First Milk Ltd., Amul, Royal FrieslandCampina N.V.
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Modified Milk Ingredients Market Overview
Modified milk ingredients refer to dairy components that have been altered through processing techniques to enhance their functional properties, nutritional profile, or to cater to specific dietary needs, such as lactose reduction. These ingredients are used in various food products to improve texture, flavor, and nutritional value while maintaining the essential benefits of traditional dairy.
Modified Milk Ingredients Global Market Report 2023 provides data on the global modified milk ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The modified milk ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
