Market Size of milk protein Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 1.3 Billion |
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Market Size (2029) | USD 1.66 Billion |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.04 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Milk Protein Market Analysis
The Milk Protein Market size is estimated at 1.3 billion USD in 2024, and is expected to reach 1.66 billion USD by 2029, growing at a CAGR of 5.04% during the forecast period (2024-2029).
1.3 Billion
Market Size in 2024 (USD)
1.66 Billion
Market Size in 2029 (USD)
4.09 %
CAGR (2017-2023)
5.04 %
CAGR (2024-2029)
Largest Market by Form
52.43 %
value share, Isolates, 2023
The superior qualities and functionalities of MPIs, such as high protein content, lower carbs, and lower lactose content, make them the leading protein ingredient in the market.
Largest Market by End User
53.45 %
value share, Food and Beverages, 2023
Milk protein has become increasingly popular in the food and beverage segment due to its nutritious value and appealing appearance. Milk proteins are widely used in pastries, drinks, and baked items.
Fastest Growing Market by Form
5.50 %
Projected CAGR, Hydrolyzed, 2024-2029
Its high demand in the personal care sector hiked after research confirmed its benefits, such as reducing allergic infections on the skin is driving the demand.
Fastest Growing Market by End User
5.45 %
Projected CAGR, Supplements, 2024-2029
The rising rates of gym memberships and recommendations for protein consumption by trainers are likely to propel the growth of the segment during the forecast period.
Leading Market Player
16.74 %
market share, Royal FrieslandCampina NV, 2021
Royal FrieslandCampina NV gained a competitive edge over other market players owing to its extensive product portfolio and strategic innovations.
With 85.67% of milk protein demand in the bakery, snacks, and beverage industries, food and beverages segment has led the market
- By application, the F&B sector retained the top position in the market throughout the review period. By volume, 85.67% of milk protein demand in the F&B segment was driven by the bakery, snacks, and beverage industries in 2022. Milk proteins are gaining popularity in low-acid beverages due to their greater solubility and heat stability. Similarly, milk proteins' high efficacy in egg replacement boosted its demand in the bakery industry, especially in countries where avian flu is a budding concern. Hence, the use of milk proteins in the F&B segment is anticipated to register a CAGR of 4.55%, by volume, during the forecast period.
- On the other hand, the supplements sector also recorded a significant global demand. This was led by the growing demand for the sport and performance nutrition and baby food and infant formula industries, which accounted for shares of 33% and 66%, by volume, respectively, in the supplements segment. Sports and performance nutrition is projected to be the fastest-growing among all supplements sub-segments, recording a CAGR of 6.08% during the forecast period. Milk protein is an excellent alternative for bodybuilders due to its ability to offer a whey-to-casein ratio of 20:80. More than 75% of Americans take dietary supplements every year; with 79% of female adults and 74% of male adults claiming to consume at least one form of supplements with their diet.
- In June 2020, the FDA decided to allow the inclusion of milk protein concentrate (MPC), milk protein isolate (MPI), and a few additional additives in products branded as "high protein milk," which is further expected to propel the market segment during the forecast period.
Understand The Key Trends Shaping This Market
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Increasing population with rising prevalence of obesity and other health concerns, Asia-Pacific witnessed the highest market for milk protein
- Asia-Pacific, particularly China (with a 33.8% share in the regional market in 2022), is the leading market for milk protein, aided by constant innovations targeting distinct end-user segments. Increases in the prevalence of obesity (roughly 27% of the population, more than half a billion people in 2020) and fitness enthusiasts choosing high-protein foods have positioned China as the market leader. The dairy industry has recorded immense growth globally, driving milk protein production. These proteins have immense applications in the bakery sub-segment in the food and beverages segment, followed by the supplements segment.
- Europe holds the second-largest market share and has been attracting foreign investments in line with harmonization achieved by Turkish and EU Food Laws. Other regions hold enormous development potential, prompting multinational businesses to spend heavily in the milk protein market in Africa, South America, and the Middle East. Dairy ingredient maker Darigold, a major brand that offers milk protein concentrates, opened an office in Dubai in 2019 for improved service integration with customers in the Middle East and Africa.
- The Middle East region is projected to be the fastest-growing in the market, with a CAGR of 6.25% by value during the forecast period 2023-2029. Due to the growing awareness of its nutritional value, raw material manufacturers are opening sales offices and selling products in the Middle Eastern market. In 2021, around 48.2% of people across Saudi Arabia practiced physical and sporting activities at least 30 minutes a week. The protein consumption in the supplements segment accounted for a volume of 8,234.4 ton in 2022 in Saudi Arabia.
