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The global dairy ingredients market is expected to witness strong growth during the forecast period between 2021 and 2031.
Dairy ingredients refer to products that have been deployed in numerous end-use industries and emerged as suitable raw materials in the production of various food supplements.
Dairy ingredients comprise Vitamin A, Vitamin B12 and different chemical components such as zinc, calcium, and magnesium. Dairy ingredients are rich in protein content which has made them suitable for development of bone density.
COVID-19 pandemic positively impacted growth in global dairy ingredients market. Rising cases globally led to governments imposing stringent social distancing regulations and lockdowns in a bid to reduce the spread of the virus.
This led to increase in demand for functional food products among consumers which led to increasing production of functional food products, which fueled the demand for dairy ingredients and stimulate the growth in overall market.
Rising consumption of functional food products is the key growth driver for global dairy ingredients market.
Also, increasing consumer demand for ready-to-eat food products is anticipated to help create revenue-generating opportunities for prominent players in global dairy ingredients market, in future.
In addition to this, growing customer demand for natural and organic food products in leading economies globally could propel the demand for dairy ingredients and trigger the market growth, in the coming years.
Government initiatives and measures such as providing funding to well-established players for research and development activities could augment the growth in dairy ingredients market, in the years ahead.
Dry form segment is expected to make the largest contribution, in terms of revenue, to overall dairy ingredients market because of increasing demand in the production of low-calorie and sports nutrition food products in leading economies globally.
The global dairy ingredients market is highly competitive, with the presence of numerous prominent players. Many of these players are anticipated to hold a large share in overall market, in the coming years.
Novel product launches could help leading dairy ingredients market players in creating revenue-generating opportunities for leading players and help gain an edge over competitors.
Research and development activities could be key growth strategy for prominent dairy ingredients market, in the years ahead.
Other strategies such as signing collaborative agreements with smaller players could help well-established dairy ingredients market players in expanding their market presence and increasing their revenue shares.
Some of the leading players in global market include Arla Foods, Kerry Group, Ornua, Batory Foods, and Euroserum.
Asia Pacific is expected to be the dominant region in global dairy ingredients market because of increasing health conscious population leading to rise in demand for functional food products in countries such as India and China.
Ease of availability of key resources such as land and labor could help prominent dairy ingredients market players establish production facilities in Asia Pacific countries, which could assist in market growth in the region in future.
Europe is anticipated to witness significant growth in global dairy ingredients market owing to increasing consumer demand for protein-rich food products among consumer sections residing in countries such as Germany and the U.K.
North America is expected to witness strong growth in dairy ingredients market in the coming years due to increasing consumer demand for food products containing whey protein in countries such as the U.S and Canada.
Other regions of the world such as Middle East and Africa and Latin America are anticipated to witness moderate growth in global dairy ingredients market, in future, due to reduced presence of prominent players in countries belonging to both the regions.
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Dairy Ingredients Market
