Dairy By-Products Industry Trends, Size, Share, Business Opportunity, Forecast to 2023
Dairy By-Products Market – Overview
The escalation in the level of dairy production has increased the supply of dairy by-products significantly. Market reports associated with the Food; Beverages & Nutrition industry have been made available by Market Research Future who publishes reports on other sectors that have been presently published along with a report on this industry. The market is set to expand at a positive CAGR rate in the forecast period.
Furthermore, rapid growth in demands for infant foods, processed foods, dairy-based products, and dietary supplements, along with wide range of applications in personal care and sports nutrition industry are some of the key factors driving the market growth.
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Dairy by-product is a product of commercial value produced along with the main product at the time of dairy processing. Whey & ghee residue are the most common by-products obtained. Whey is rich in vitamins, minerals and contains only trace amount of fat which is used for the production of various nutritional sports products.
Some of the key players profiled in the global dairy by-products market: Nestle S.A. (Switzerland), Danone, Inc. (Canada), Groupe Lactalis S.A. (France), Dairy Farmers of America, Inc. (U.S.), Koninklijke FrieslandCampina NV (the Netherlands), Fonterra Co-operative Group Ltd. (New Zealand), Arla Foods amba (Denmark), Inner Mongolia Yili Industrial Group Co., Ltd. (China), Saputo Inc. (Canada), China Mengniu Dairy Company Ltd. (China).
The market for dairy by products is segmented on the basis of type, form, and application. The segmentation in the basis of type includes ghee residue, whey, and other by-products. The whey segment is dominating the market due to its increased usage in the manufacture of nutritional supplements and protein beverages. The form-based segmentation of the market comprises of powder, liquid, granules, and others. The powder segment is leading the market because of its increased use in functional food & beverage products and supplements. The basis of application segments the market into functional beverages, functional food, dietary supplements, nutraceuticals, and others. The dietary supplements segment is ruling the market due to its high nutritional and functional properties.
The regional analysis of the dairy by-products market is segmented into Europe, North America, Asia Pacific, and the rest of the world (RoW). The North American market has the major share of the market followed by the European region. The rising demand for nutritional protein-based food products between the advanced nations of the North American and European region is backing up the growth of dairy by-products market considerably.
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Though, the Asia Pacific region is anticipated to be the most rapidly growing market through the forecast period. Moreover, the escalating demand for dietary supplements in the population is complimenting the growth of global dairy by-products market.
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