The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 2.5% (Global Milk Market)
The rising health consciousness of the consumers globally is increasing the market for milk protein concentrates in the market. Growing concerns of parents towards the nutritional benefits of the protein concentrates in the infant formula is also driving the market for milk protein concentrates. The expansion of the food and beverage industry is another factor behind the growth of the milk protein concentrate market. Additionally, rising disposable incomes and expenditure on nutritious food, and demand for pre-packaged food are expected to push the growth in the forecast period. A growing number of working women using infant formulas for new-born babies is also amplifying the market growth.
Industry Definition and Major Segments
Milk Protein Concentrates or MPC is a proteinaceous edible product generally available in liquid or powder. Milk protein concentrate is usually obtained via the separation of whole milk into skimmed milk and cream. The skimmed milk is then subjected to further processing steps and ultimately subjected to spray drying or evaporation to finally achieve the desired protein concentration ranging from 40-90%. Milk protein concentrates are widely used nutritional and dietary products such as infant formulas, protein shakes, protein bars, frozen desserts, bakery products, recombined cheeses, and various other confectionery applications. The inclusion of milk protein concentrates in health drinks is anticipated to demonstrate a strong growth rate in the forecast period. The rise in the prevalence of consumer demand for food products with added protein content is boosting the demand for milk protein concentrates as well.
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Basis nature, the industry can be bifurcated into:
On the basis of the form of product, the industry is segmented into:
By type of product, the milk protein concentrate market is divided into:
- MPC 40-55
- MPC 56-79
- MPC 80 above
Based on the preparation method, the market is categorized into:
On an application basis, the milk protein concentrate market is divided into:
- Dietary Supplements
- Dairy Products
- Infant Formula
- Sports Nutrition
- Bakery and Confectionary
According to distribution channels, the market can be segmented into:
- Hypermarket and Supermarket
- Convenience Store
- Special Store
On the basis of Region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
The rising number of lactose intolerance consumers is fueling the industry’s growth and is anticipated to continue in the forecast period as well. Furthermore, the rising demand for sports nutrition products and protein-rich foods such as dietary supplements and ready meals is driving the global demand for milk protein concentrates. Owing to increasing health consciousness among consumers and a rapid rise in fitness activities, North America holds a significant market share in the milk protein concentrates market. This has also augmented the demand for sports and protein-rich supplements in the region. However, the rising substitution of the milk protein concentrates in the market along with a lack of uncertainties in production coupled with swinging prices of raw materials is a potential challenge for the market.
Key Market Players
The major players in the market are Fonterra Co-Operative Group Limited, Sachsenmilch Leppersdorf GmbH, LACTALIS Group, Glanbia PLC, Kerry Group and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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