The market continues to build up momentum with the growing consumer awareness about health and wellness. Dairy ingredients are one of the most important part of the production of dairy and other food products.
According to the report “Asia-Pacific Dairy Ingredients Market by Form (Milk, Whey), by Type (Milk Powder, Whey Ingredients, Milk Protein Concentrates, Milk Protein Isolates, Lactose & Derivatives, Casein & Caseinates, Milk Protein Hydrolysates), by Application (Bakery & Confectionery, Dairy Products, Convenience Foods, Infant Milk Formula, Sports & Clinical Nutrition), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Asia-Pacific Dairy Ingredients Market has been estimated at USD 24 billion in 2016 and is projected to reach USD 33.54 billion by 2021, at a CAGR of 6.92% during the forecast period from 2016 to 2021.
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The Asia-Pacific Dairy Ingredients Market is showcasing significant potential in the mentioned forecast period.
Their primary uses include, enhancing the nutrition value, adding flavours, and other functions like emulsification and solubility.
The dairy ingredients have a high potential in their applications in new products, and thus have shown a rapid growth over recent years. Other factors contributing to the growth of the market include, increase in demand for bakery products, growing applications in nutrition and convenience foods, increasing dairy production, emerging markets in various regions.
Further, the market faces some restraints as well, which include rising incidences of lactose intolerance and allergies, available alternatives like plant proteins, adulteration of dairy products. These factors are hindering the growth of the market.
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The Asia-Pacific Dairy Ingredients Market is categorized on the basis of application, form and type. The market segmentation based on type is done into milk powder, milk protein concentrates, casein & caseinates, milk protein isolates, whey ingredients, lactose & derivatives, milk protein hydrolysates.
Based on application, the market is segmented into bakery & confectionery, convenience foods, sports & clinical nutrition, infant milk formula, dairy products. According to form the segmentation is done under milk and whey.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
The major companies dominating the Asia-Pacific Dairy Ingredients Market share include:
- Fonterra Co-Operative Group Limited
- Dairy Farmers of America
- Arla Foods
- Groupe Lactalis
- Saputo Inc.
- Glanbia PLC
- Volac International Limited
- Devondale Murray Goulburn
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