Report : Asia Pacific Dairy Ingredients Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Milk Powder, Proteins, Milk Fat Concentrates, Lactose & Lactose Derivatives, and Others) and Application (Food & Beverages, Animal Feed, Pharmaceuticals & Nutraceuticals, and Personal Care).
Milk Powder Segment has the Largest Share of Product Type in the Asia Pacific Dairy Ingredients Market during 2021–2028
According to our latest study on “Asia Pacific Dairy Ingredients Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type and Application,” the market is projected to reach US$ 41,107.23 million by 2028 from US$ 34,342.21 million in 2021; it is expected to grow at a CAGR of 2.6% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the wide application scope and growth of dairy industry .However, surging demand for dairy-free alternatives hamper the market growth.
Based on type, the dairy ingredients market is segmented into milk powder, proteins, milk fat concentrates, lactose & lactose derivatives, and others. In 2020, milk powder segment accounted for the highest share of the market in the forecasted period. However the proteins segment registered the highest CAGR of 3.2% during the forecast period. The whole milk is pasteurized, evaporated, and spray dried to obtain milk powder. Milk powder is used in a variety of products such as bakery products, chocolates, confectioneries, sauces and soups, infant food products, etc. It enhances the texture of the food product and act as a stabilizer, creaming agent, and thickener.
Lactalis Ingredients, Saputo Inc.,FONTERRA CO-OPERATIVE GROUP LIMITED, Kerry Group ,AMCO Proteins ,PROLACTAL,Glanbia Ireland ,Arla Foods Ingredients Group P/S are among the leading companies in the Asia Pacific dairy ingredients market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for dairy ingredients market is segmented into product type, and application. Based on product type, the Asia Pacific dairy ingredients market is segmented into milk powder, proteins, milk fat concentrates, lactose & lactose derivatives, and others. Based on application, the Asia Pacific dairy ingredients market is segmented into food & beverages, animal feed, pharmaceuticals & nutraceuticals, and personal care. Geographically, the dairy ingredients market is segmented into Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of APAC).
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