Market Size of India Milk Protein Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.28 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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India Milk Protein Market Analysis
The India milk protein market size is expected to grow from USD 60.25 million in 2023 to USD 81.69 million by 2028, at a CAGR of 6.28% during the forecast period (2023-2028).
- Milk protein demand in India has been consistently strong due to its essential nutritional properties and widespread use in various food and beverage products. Milk proteins are valued for their high-quality amino acid profile, which makes them a complete protein source, containing all essential amino acids required by the human body. They are crucial in muscle growth, repair, and overall health. Additionally, consumers are becoming more health-conscious and seeking nutrient-dense food options, and in line with this, milk proteins are perceived as natural and healthy sources of protein compared to some processed alternatives. Hence, manufacturers in India often add it to high-protein foods and supplements as a cost-effective way to increase their protein content with little effect on flavor, which is driving its usage in the country.
- Additionally, consumption of the milk protein type in India is mainly led by the food and beverage segment, more particularly by the snacks, bakery, and dairy and dairy alternatives sub-segments. Milk proteins perform numerous critical functions in preparing products in these sub-segments, such as emulsification, thickening, gelling, and foaming. The ability to enhance the development and stabilization of oil droplets in emulsions is a crucial role played by milk proteins in food colloids. As a result, it is frequently used as an ingredient in various manufactured food colloids, including dairy desserts, nutritive drinks, ice cream, yogurt, spreads, confections, and baked products.
- Also, food and beverage manufacturers in the country are focused on developing innovative products by incorporating milk proteins which are expected further to drive the demand for milk proteins in the country. For instance, in February 2023, The scientists of the National Dairy Research Institute developed a 'Milk Protein-Enriched Millet Biscuits' and launched the product for sale at NDRI Milk Parlour. The manufacturer also claimed that several new milk-millet-based food products would soon be launched at the milk parlor. With such innovations happening in the country's market, it is expected that the players will have various opportunities to develop innovative milk proteins that can have multiple application capabilities to cater to different industries and manufacturers.