Rising demand for protein and energy bars, energy drinks, dietary supplements, and multivitamin & bodybuilding supplements is likely to drive the growth of the dairy ingredients market over the forecast period. Mounting health diseases as a result of hectic schedules is expected to drive consumers towards the usage of sports nutrition goods and thus likely to fuel the demand for milk powder and whey ingredients over the forecast period.
Whey ingredients are considered as a protein package which contains all nine essential amino acids with low lactose content. These ingredients are used in the form of whey protein isolate (WPI), whey protein concentrate (WPC), and whey protein hydrolysate (WPH).
Global sports nutrition market, 2014-2024 (USD Billion)
The majority of consumers commonly use it as a supplement, along with resistance exercise, for aiding improvement in protein synthesis and promoting lean tissue mass. Rising awareness towards protein enriched foods as a result of increasing awareness towards nutritional supplementation in dietetic foods is expected to encourage the usage of dairy ingredients including whey over the next eight years.
Rising awareness towards consumption of gluten-free goods in developed markets including the U.S., Germany, and the UK thanks to the innovative brand campaigns by food & beverage companies in retail outlets and e-commerce portals is expected to reduce the application of dairy ingredients. Furthermore, increasing the importance of plant-based ingredients including pea and soy on account of being free from lactose and gluten substances is expected to shrink the market size of whey and milk powder.
Nestle Thailand launched NAN OPTIPRO HA KID 3 in November 2015, which comprise a high-quality protein, which makes it digestible. In 2014, TH Food Chains JSC launched a set of three products including TH True Milk Collagen, TH True Milk Phytosterol, and TH True Milk Canxi for Vietnam market.
Product innovation in dairy industry of South East countries including Vietnam and Thailand is expected to play a significant role in increasing the market size of milk powder as well as whey ingredients over the forecast period. However, growing concerns over cardiovascular diseases associated with red meat consumption in developed countries including the U.S. and Germany is anticipated to drive the dairy ingredients market over the next eight years.
Regulatory support intended towards the incorporation of whey protein in food & beverages by the U.S. FDA, and UK government is expected to have a strong impact over the next eight years. In August 2016, PowerBar launched a new whey product line under the brand name, Clean Whey that comprises two grams of sugar along with the absence of artificial sweetener formulations.
Rising awareness towards the usage of ice creams derived from natural ingredients as a result of increasing concerns over adverse effects associated with synthetically derived counterparts in the U.S. is expected to promote the demand for milk powder. Furthermore, Product innovation regarding the development of frozen desserts in the U.S. bakery industry is projected to have a favorable impact on the market over the next eight years.
In-depth report on global dairy ingredients market by Grand View Research: