Global Dairy Ingredients Market to Reach $93.22 Billion by 2031

However, challenges such as the growing popularity of plant-based dairy alternatives and the prevalence of lactose intolerance could restrain further market growth. At the same time, technological advancements in the dairy industry and emerging economies present opportunities for continued expansion. On the flip side, the rise in consumer awareness regarding the benefits of vegan diets poses a notable challenge to the sector.

Key Market Segments:

Source:

• Milk: Expected to account for 78.9% of the market share in 2024 due to its versatility and nutritional benefits, including high protein and vitamin content.
• Whey: Complements the milk segment with its functional properties used in various industries.

Type:

• Milk Protein: Projected to grow at the fastest rate, with a CAGR of 6.1%, driven by its application in sports nutrition and nutraceuticals.
• Other types include whey protein, casein, lactose derivatives, and buttermilk powder.

Application:

• Food: Expected to hold the largest market share of 37.3% in 2024, driven by the growing demand for fortified and functional food products, alongside increased awareness of dairy ingredients in processed foods.
• Other applications include beverages, nutritional health supplements, and animal feed.

The Asia-Pacific region is anticipated to record the highest growth rate, driven by rising infant populations and increasing demand for organic dairy ingredients.