The global milk protein concentrate powder market is expected to grow at a significant CAGR during the forecast period (2024-2031). Growing demand for milk protein concentrates in ready-to-drink, high-protein dairy-based enteral food and beverage products is a key factor driving the milk protein concentrates market in the future years, as people become more aware of the need of keeping a healthy lifestyle. Furthermore, increased demand for infant formula products, as well as rising consumption of dietary supplements, are key factors driving the market growth. Owing to their excellent nutritional value and low lactose content, milk protein concentrates are commonly employed in the production of infant food products. To ensure product quality, many government agencies such as the World Health Organization (WHO), the Food Safety and Standards Authority of India (FSSAI), and others have set rules for the production of infant food items. For instance, the Food Safety and Standards Authority of India (FSSAI) issued new regulations in 2019 for infant formula for certain medical needs, preterm baby milk substitutes, and lactose-free baby formula.
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As people want to improve their health while avoiding other sources, milk protein concentrate products are gaining popularity in Asia. The region’s population average disposable income is rising, as government investments and money in the food and beverage business is growing significantly. Other key aspects that are projected to aid in the market’s growth in the forecast period include rising awareness about health as a result of rising individual income and increased spending in research that focuses on protein components goods in the region. Furthermore, as a result of their hectic lifestyles and increasing disposable income, growing working-women populations and childbirth rates in nations such as China, Japan, India, and others contribute to an increase in demand for infant formula products. According to a survey conducted by the China Development Research Foundation, 29% of infants in China are effectively nursed in 2019. This, in, turn, is accelerating the market growth in the country.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Fonterra Co-operative Group Ltd., Westland Milk Products, and Glanbia plc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Milk Protein Concentrate Powder Market Report Segmentation
By Product
- Content 70%
- Content 70%-85%
- Content 85%
By Application
- Dairy Items
- Nutrition Items
- Cheese Items
- Others
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