Milk Protein Isolate market size was valued at $1,537million in 2020, and is anticipated to grow at a CAGR of 6. % during the forecast period 2021-2026. The milk protein isolate industry growth rate is attributed to the increasing health care awareness; consumers are shifting their focus towards nutritional and healthy diets and is poised in bringing new opportunities. Milk protein isolate is a protein product derived from skim milk powder. There are basically two main types of protein in milk, casein and whey, and milk protein isolate contains both of these. Manufacturers make it using multiple filtering processes, such as microfiltration, ultrafiltration, and diafiltration. Moreover, milk protein isolate is also made differently from other milk-based protein powders, such as casein powder or whey powder. The factors driving the growth of the market for milk protein isolate include increased demand for healthy foods that need milk protein isolates to be produced is encouraging manufacturers of milk protein isolates to invest heavily in research and development could affect the growth of the market for milk protein isolate. However, the dynamic costs of the milk protein isolates might be a big challenging factor for the key players which is also poised to be one of the factors negatively affecting the Milk Protein Isolate market penetration.
Milk Protein Isolate Market Segment Analysis – By Application
In 2020, on the basis of application, dietary supplement segment accounted for the largest segmental revenue of the milk protein isolate market. The dietary supplement held the largest market owing to the high demand for protein isolate supplements amongst sports, nutrition and infant industry, on account of wider scope of applications. Moreover, dietary supplement is the fastest growing segment by application with a CAGR of 6.8% during the forecast period of 2021-2026. This growth can be attributed to the rising number of working women in the developing economies followed by the increasing awareness regarding the maintenance of health amongst them.
Milk Protein Isolate Market Segment Analysis – By Distribution Channel
On the basis of distribution channel, offline segment accounted for the largest segmental revenue of the Digital Pregnancy Test Kit market in 2020. The largest share can be attributed to the consistent increase in number of offline channels in countries such as Brazil, India, and China coupled with rising trend amongst the market players for the ample availability of milk protein isolates products. The largest share can also be attributed to positively affect market growth during the forecast period 2021-2026 owing to the presence of strong distribution channels and increased adoption preferences shown by consumers.
On the other hand, online segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.34%. The online segment is to witness a surge in growth owing to the prevalence of Covid-19 which has increased the ease of use of retail e-commerce websites coupled with rapid advancement observed in internet penetration, and growth in popularity of e-commerce shopping portals over the last decade. Apart from this, the availability of a wide range of products and the presence of required support and information through expert customer service personnel is anticipated to positively impact the growth of this segmental market during the forecast period 2021-2026.
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Milk Protein Isolate Market Segment Analysis – By Geography
North America is the major region dominating the milk protein isolate market with a market share of 37.90% in the year 2020. North America region is dominating the milk protein isolates market. This is owing to the witness steady development in the coming years followed by rising health consciousness amongst the customers and rapid increase in the fitness activities leading into the need for sports and protein-rich supplements in the region, to contribute significantly to the growth of the Milk Protein Isolate market in North America.
However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026. This is attributed to the untapped opportunities in developing countries that are projected to encourage the growth of the Asia Pacific market for milk protein isolates. Furthermore, governments in these nations have made a greater effort to emphasize better nutrition for the masses, especially for young children as they have encouraged food manufacturers which has also contributed significantly to the region’s growth.
Milk Protein Isolate Market Drivers
Growing Awareness Among Masses
The milk protein isolate market is poised to receive upswing owing to the rapid increase in demand for milk protein isolates owing to the increasing health care awareness, consumers are shifting their focus toward nutritional and healthy diets that have contributed significantly to the growth of the demand for milk protein isolate market. Furthermore, milk protein isolate market is also driven by the rising prominence of nutritional enrichment in foods & beverages owing to rising concern towards maintaining a healthy lifestyle among individuals and is to propel the market growth over the forecast period 2021-2026.
Greater Effort From Government
The growth in the food and beverage industry owing to a greater effort to emphasize better nutrition amongst the masses, especially for young children by government as well as consumers spending is projected to foster the market growth of milk proteins isolates. According to the report published in 2019 by United States Department of Agriculture Economic Research Service, it states that U.S. consumers, businesses, and government entities spent $1.77 trillion on food and beverages in grocery stores and other retailers and on away-from-home meals and snacks. All these initiatives are to positively impact to the market growth.
Milk Protein Isolate Market Challenges
Dynamic Costs Of Isolates
One of the major factors lowering the milk protein isolate is owing to the dynamic costs of the milk protein isolates which might pose a big challenge for the key players.
Milk Protein Isolate Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Milk Protein Isolate market. In 2020, Milk Protein Isolate market share is fragmented by the top ten players present in the market. The Milk Protein Isolate market top 10 companies are Nutricost, Biochem, American Dairy Products Institute, Sachsenmilch Leppersdorf GmbH, NutraPro, Purayati, Muscle Milk, CP Kelco, E. I. du Pont de Nemours and Company and others.
Acquisitions/Product Launches
In August 2020, Arla Foods Ingredients launched the first ever organic micellar casein isolate MicelPure™, contains a minimum of 87% native milk protein isolate, helping manufacturers meet demand for organic, natural and functional protein products.
In April 2019, Saputo Inc. acquired Dairy Crest Group P.L.C., the U.K. based dairy products manufacturer to expand its international presence.
Key Takeaways
The factors such as increased demand for healthy foods that need milk protein isolates to be produced are amongst the major factor projected to impel growth of Milk Protein Isolate market.
Additionally, factors such as rise in the number of working women in the developing economies followed by the increasing awareness regarding the maintenance of health amongst them are to create opportunities paving a way for the growth in the market during forecast period 2021-2026.
Relevant Reports:
A. Milk Protein Market
https://www.industryarc.com/Report/19158/milk-protein-market
B. Whey Protein Ingredients Market
https://www.industryarc.com/Report/7440/whey-protein-ingredients-market-analysis.html
For more Food and Beverage Market related reports, please click here
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