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New Revenue Pockets in Dairy Ingredients Market
Dairy ingredients, derived from milk, have a wide range of applications in the food & beverage industry. The nutrient content inherent in these ingredients is a key benefit to the food makers. The major dairy ingredient applications are beverages, bakery and confectionery, convenience foods, dairy products, sports & clinical nutrition, infant milk formula, and other food products.
There is a continuous need for innovations in the dairy ingredients value chain to gain competitive edge over other players. Milk supply and fluctuations in the prices are the major factors leading to high prices of dairy ingredients. In the long run, with technological advancement and various new ways of processing these ingredients, supply would be upbeat. This in turn will positively affect raw material availability and boost dairy ingredients manufacturing.
The Asia-Pacific region presents tremendous opportunities for dairy ingredients and its end-use applications. Global demand for dairy ingredients will be revived by the Asia-Pacific, Latin America, and the Middle East & African countries’ consumption. Factors such as rapid urbanization, the increasing population levels, higher disposable incomes, and strong demand for processed foods coupled with low cost of production positions the BRIC nations to grow at a rapid pace. China has a strong consumption trend and is also a production hub of processed foods. Other emerging economies such as Brazil, Russia, India, and others exhibit rapid gains in this market.
The key companies operating in this market, namely, Glanbia PLC (Ireland), Fonterra Co-Operative Group Limited (New Zealand), Dairy Farmers of America (U.S.), Arla Foods (Denmark), and FrieslandCampina (The Netherlands) are engaged in product innovations in order to cater to demands from the food processors. Through their organic growth strategies of expansions and new product formulations, the companies are enhancing their penetration in the dairy ingredients market.
Dairy Ingredients Market by Type (Milk Powder, Whey Ingredients, Lactose, MPC & MPI, Casein & Caseinates), by Application (Bakery & Confectionery, Dairy, Convenience Foods, Infant Milk Formula, Sports & Clinical Nutrition) - Global Trends & Forecasts to 2018
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