The global milk protein concentrate market size was valued at $3,009.9 million in 2019, and is projected to reach $3,923.6 million by 2027, registering a CAGR of 5.3%. North America was the highest revenue contributor, accounting for the highest value share in 2019, and is estimated to grow at a CAGR of 4.8%. U.S. was the leading country in terms of milk protein concentrate consumption and is expected to continue this trend over the forecast period.
Milk protein concentrate (MPC) is a milk extract that contains high level of encapsulated bioavailable calcium. As it contains high concentration of protein, it finds a wide range of applications in the food & beverages sector. Although it is majorly used in the preparation of packaged dairy products, it serves as a key ingredient in protein supplements, infant nutrition, and functional food. Asian countries are major producers and exporters of milk protein concentrate. China and Japan are the leading exporters of milk protein concentrate, followed by India and Australia.
The demand for milk protein concentrate market has remained consistent among the buyers. The outbreak of the novel coronavirus has negatively affected the growth of the market worldwide. Decrease has been witnessed in the sale of milk protein concentrate, due to slowdown in the production as a result of implementation of lockdown. Furthermore, the disruption of supply chain has affected the supply of the product to the global market.
The growth of the global milk protein concentrate market can be attributed to surge in demand for nutritional food. In addition, owing to rise in awareness about health and nutritional food products, consumers are adopting healthy lifestyle & diet and increasing their protein intake by using protein supplements, thereby fueling the market growth. Moreover, busy lifestyle and increase in women participation in the labor force have shifted their focus toward nutritional needs of their babies, which are met by infant formula. Milk protein concentrate is one of the major components of infant formula, which is likely to drive the demand for dairy protein in the future. However, increase in trend of veganism acts as the major restraint for the global market. On the contrary, protein supplements and protein-based food products are still in nascent stages in various regions of Africa such as Zimbabwe, Liberia, Eritrea, and Burundi. These countries still remain untapped, which present a potential opportunity for milk protein concentrate market growth.
The milk protein concentrate market is segmented into application, concentration, and region. The applications covered in the study include packaged products, nutritional products, infant formula, and others (ice cream and desserts). Depending on concentration, the market is segregated into low, medium, and high. Region wise, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)
By Application
Global Milk Protein Concentrate Market by Application, 2019-2027, ($Million)
Based on milk protein concentrate market forecast by application, the packaged product segment dominated the market in 2019, and is expected to remain dominant throughout the forecast period. The growth of this segment in the milk protein concentrate market can be attributed to increase in affinity of consumers toward packaged food stuff over cooked item. However, the infant formula segment is expected to experience modest growth rate throughout the forecast period, owing to increase in dependence of women on infant formula due to surge in working women population.
Based on milk protein concentrate market analysis by concentration, the high segment in the milk protein concentrate market exhibited the fastest growth attributed to rise in consumption of nutraceuticals such as protein supplements, ready-to-drink milk shakes and functional food. Conversely, the medium segment is expected to grow at a steady CAGR of 5.4% throughout the forecast period. The growth in this segment can be attributed to increase in demand for protein-rich food among the global populace.
By Concentration
Global Milk Protein Concentrate Market by Concentration, 2019-2027, ($Million)
Region wise, North America was the largest market in 2019, in terms of revenue generation, garnering almost one-third of the global milk protein concentrate market share. U.S. is further expected to expand at notable growth rate exhibiting the highest share throughout the forecast period. However, Asia-Pacific and LAMEA region in the milk protein concentrate market are expected to witness notable growth during the forecast period. The growth in these regions can be attributed to increase adoption of high protein packaged goods.
Key players in the milk protein concentrate industry have relied on strategies such as innovation and business expansion to expand their market share and to stay competitive in the global milk protein concentrate market. The key players in the milk protein concentrate market profiled in the report are Kerry Group Plc, Arla Foods Amba, Fitsa Group, Lactalis Corporation, Cabot Creamery Cooperative, Dana Dairy Group, Royal Frieslandcampina N.V., Saputo Inc., Schreiber Foods Inc., and Fonterra Co-Operative Group Limited.
By Region
Global Milk Protein Concentrate Market by Region, 2019-2027, ($Million)
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current milk protein concentrate market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing milk protein concentrate market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
Milk Protein Concentrate Market Report Highlights
| Aspects | Details |
 By Application |
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 By Concentration |
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 By Region |
|
 Key Market Players | SAPUTO INC., KERRY GROUP PLC, FONTERRA CO-OPERATIVE GROUP LIMITED, ROYAL FRIESLANDCAMPINA N.V., FITSA-GROUP, DANA DAIRY GROUP, SCHREIBER FOODS INC, CABOT CREAMERY COOPERATIVE, ARLA FOODS AMBA, LACTALIS CORPORATION |
Analyst Review
According to the insights of the CXOs of leading companies, rise in demand for innovative functions and applications of milk protein concentrate is one of the major factors that boost its consumption. A huge demand for milk protein concentrate in nutritional supplements has been noted during past years, which is anticipated to continue during the forecast period. Inclination of the food & beverages industry toward functional ingredients, with high nutritional content propels the market growth. The increasing demand for dairy ingredients in innovative food and other industrial applications have encouraged manufacturers to invest more in R&D to provide milk protein concentrate with enhanced functionalities for preparation or processing of innovative products in the market.
The milk protein concentrate consumption is led by North America, as the region has the higher consumption of nutrition-based food products compared to other regions. Conversely, Asia-Pacific offers incremental opportunities for milk protein concentrate, owing to surge in adoption of packaged goods and high-protein diets. Hence, the market in the region is anticipated to grow at the highest CAGR during the forecast period.
The global milk protein concentrate market size was valued at $3,009.9 million in 2019.
The key players profiled in the milk protein concentrate market report are Kerry Group Plc, Arla Foods Amba, Fitsa Group, Lactalis Corporation, Cabot Creamery Cooperative, Dana Dairy Group, Royal Frieslandcampina N.V., Saputo Inc., Schreiber Foods Inc., and Fonterra Co-Operative Group Limited.
The sample for the milk protein concentrate can be obtained from the official allied market research website i.e www.alliedmarketresearch.com
The milk protein concentrate market expected to grow at a CAGR of 5.3% from 2021-2027.
The milk protein concentrate market is segmented into application and concentration.
The forecast period for the milk protein concentrate market is 2021-2027.
Based on the region, North American market holds the maximum share.
The covid-19 pandemic has had a marginal impact on the milk protein concentrate market. The decline in the growth during the pandemic can be attributed to shutdown of manufacturing units and disruption in supply chains.
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