Increasing Demand for Milk Protein Concentrate in Food and Beverage products is Anticipated to Drive Milk Protein Concentrate Market during The Forecast Period 2020-2026. Milk Protein Concentrate market size is forecast to reach $4.2 billion by 2026, growing at a CAGR of 5.4% during the forecast period 2021-2026.
Growing Demand for Milk Protein Concentrates in ready-to-drink, high-protein dairy-based enteral food and beverage products owing to increasing awareness towards maintaining healthy lifestyle among the people is a vital factor driving the Milk Protein Concentrates market in the upcoming years. Moreover, growing consumption of dietary supplements coupled with rising demand of infant formula products are vital factors contributing to its market growth. Milk Protein Concentrates are widely used in formation of infant food product owing to its high nutritional value and low in lactose property. Various government organization such as World Health Organization (WHO), Food Safety and Standards Authority of India (FSSAI) and others have established certain guidelines for the development of infant food products to assure product quality. For instance, in 2019, Food Safety and Standards Authority of India (FSSAI), created a new regulation for infant formula for specific medical purposes, preterm baby milk substitute, and lactose free baby milk substitute.
MPCs (milk protein concentrates) are complete proteins that contain casein and whey proteins in the same or similar proportions as milk. It contain 40–90% milk protein. Lactose levels decrease as MPC protein concentration increases. Because of its high protein-to-lactose ratio, MPC is an ideal component for protein-fortified drinks and snacks, as well as low-carbohydrate meals. MPCs include more protein and less lactose than skim milk powder or whole milk powder. As a result, they provide a concentrated amount of protein in final applications, resulting in improved nutritional, sensory, and functional qualities. MPC is produced by evaporating, ultrafiltration, and spray drying thin milk through a succession of processes. MPC used in various application such as infant formulas, desserts, baked goods, toppings, low-fat spreads, dairy-based dry mixes, dairy-based beverages, sports and nutrition beverages/foods, geriatric nutritional products, weight loss beverages/foods and some process cheese products. Furthermore, increasing research and innovation on milk protein concentrate and its application area such as dietary supplement, infant formula, food and beverages is driving the growth of milk protein concentrates market. For instance, in 2019, Nestle S.A. has opened its R&D centre in Ireland. This R&D centre will focus on innovations in the development of milk-based maternal and infant nutrition products for the global market.
Asia-Pacific holds a major share of Milk Protein Concentrate market owing to trends of the favorable factors in the region and are growing demand of nutritional dietary supplements products across the countries such as India, Japan, South Korea, and others coupled with rising awareness about milk protein concentrate is estimated to boost the market. Milk protein concentrate products are gaining popularity in Asia as people look to improve their health and avoid other sources. The increasing average disposable income of the population and rising government investments and funds on food and beverage industry in this region. The growing awareness regarding health owing to rise in the income of individuals and increase in investments on research that focus protein ingredients products in the region are other major factors that are likely to help in the growth of the market in the forecast period. Furthermore, growing working-women populations and child birth rates in countries such as China, Japan, India, and others contribute to an increase in desire for baby formula products as a result of their hectic lifestyles and increased disposable money. According to research study by China Development Research Foundation, in China only 29% of infants are properly breastfed in 2019. This leads to rise in demand for infant formula product and drives the growth of milk protein concentrate market. Moreover, rising prevalence of chronic diseases such as diabetes, cancer, heart diseases in countries such as China, Japan, India and others so that people are moving towards healthy lifestyle are other major factors that are likely to help in the growth of the market in the forecast period. According to World Health Organization (WHO), around 8.5 million people die per year owing to chronic diseases such as diabetes, cancer in South-East Asia. Furthermore, rising geriatric population in this region has increased the desire for producing age-friendly food alternatives with better nutritional content to maintain their overall health, resulting in an increase in demand for milk protein concentrate food product in their diet. Moreover, Manufacturers in Asian countries are continuously investing in the market and focusing on innovation to expand their product range. With the advancing end-use industries, there is a lot of scope for growth in developing countries with respect to incorporation of milk protein concentrate in food and beverage products to develop lactose free food products which has created scope in this regions are set to avail new growth opportunity to Milk Protein Concentrate Market during 2020-2026.
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Milk Protein Concentrate Market Growth Drivers:
Increasing Demand of Nutritional Food Product:
Increasing demand of nutritional food products owing to its healthy and functional properties is a vital factor contributing to its market growth. Changing preference of the people towards healthy nutritional food products over processed food products owing to illness has also raised health consciousness among customers, who are increasingly seeking for healthier eating options. Moreover, MPC is widely used in nutritional beverages is also driving the Milk Protein Concentrate market.
Growing Awareness Towards Healthy Food
The growing importance of nutritional enrichment in healthy foods and drinks as a result of greater awareness among consumers about living a healthy lifestyle is expected to have a favorable result on the milk protein concentrate market. The milk protein concentrate market is also being driven by regulatory support from the FDA and the government of the United Kingdom, which is aimed to incorporate proteins into food and beverages.
Increasing Application of Milk Protein Concentrates:
Increasing application of milk protein concentrate in various industry such as food and beverage, dietary supplement, infant formula, and other is driving the growth of milk protein concentrate market. MPCs in food and beverage products can give a variety of advantages such as water binding, viscosity, gelling, foaming/whipping, emulsification, and heat stability is also driving the Milk Protein Concentrate market.
The Major Players in this Market Include
The major companies in Milk Protein Concentrate market include Glanbia plc. Idaho Milk Products, Arla Foods Ingredients Group, Darigold, Kerry Group, Amco Protein, Fonterra Co-operative Group, Lactalis Ingredients, Nutrinnovate Australia, and Friesland Campina DM.
In October 2019, Idaho Milk Products has completed a $30 million expansion and new R&D facility at its Jerome, Idaho location. This expansion and new R&D facility will focus on innovation and product development of milk and milk related products.
Over the years, companies have mainly focused on research and development and have been investing in developing various products. The advancements in ingredients of the products driving the Milk Protein Concentrate market during 2020-2026.
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