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Dairy Nutritional & Nutraceuticals Ingredients worth US$30,887.4 million
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Monday, 02 November, 2020, 13 : 00 PM [IST]
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Seattle, USA
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Global dairy nutritional and nutraceuticals ingredients market is estimated to account for over US$30,887.4 million in terms of value in the year 2019 and is predicted to grow at a CAGR of 8.1 per cent during the forecast period of 2020 to 2027 as highlighted in Coherent Market Insights market study.
The growing demand for colostrum in sports beverage products is expected to propel the market growth of dairy nutritional and nutraceutical ingredients. Increasing use of bovine colostrum in sports drinks as it improves the overall immune response of the athletes and reduces stress is further projected to propel the market growth of dairy nutritional and nutraceuticals ingredients. Moreover, the consumption of colostrum by athletes also reduces contract respiratory infections.
Rising application of dairy nutrition in healthy snacks such as bars is expected to provide immense opportunity to the market of dairy nutritional and nutraceuticals ingredients. For instance, in August 2018 Herbalife Nutrition has announced the launch of the Herbalife24 Achieve Protein Bar, the new protein composed of 20 gram of high-quality whey and milk protein, made with whole food-derived ingredients. This new product was developed to meet the demands of all athletes including elites, weekend warriors, and every day looking to live a healthier and happier life.
According to the research, increasing prevalence of lactose intolerance among consumers which is caused due to shortage of lactase enzyme in the body and leads to symptoms such as cramps and diarrhoea is restricting the market growth. In this condition, the individual has inefficiency to digest lactose which is present in bovine colostrum. This is hampering the demand for dairy protein, thereby hindering the market growth of dairy nutritional and nutraceuticals ingredients.
Key Takeaways
On the basis of region, North America region dominated the global dairy nutritional and nutraceuticals ingredients market in 2019 with a 33.2 per cent of market share in terms of value, followed by Europe and Asia Pacific respectively.
On the basis of ingredients, dairy protein segment dominated the global dairy nutritional and nutraceuticals ingredients market in 2019 with a 81.4 per cent of market share in terms of value, followed by colostrum and vitamin and minerals segments respectively.
Market Trends
Growing demand for preserve and spread along with the increasing urban population which is moving towards a healthy lifestyle is expected to be a key trend in the market. For instance, in March 2019, Hatsun Agro Product Ltd, launched Yoghurt Shake and Cheese Spread. The Yoghurt Shake is available in Mango, Strawberry, and Blueberry flavours. The Cheese spread is a delectable offering launched at an affordable price point to encourage and ensure the usage of cheese among all sections of the consumers.
Global Dairy Nutritional and Nutraceuticals Ingredients Market - Impact of Pandemic
The coronavirus pandemic has affected the supply chain of food industry across the globe. The worldwide closure has impacted all areas of food industry. China is the largest market for food and beverage imports and exports for many countries. According to World Integrate Trade Solutions (WITS), in 2018, China imported food products worth approximately $27 billion, and in the same year, it exported food products of approximately $34 billion. Trade restriction imposed across the globe is affecting global logistics and transportation, which has adversely affected the food and beverage industry. The prolonged restriction on trade and logistics will impact revenues of the food industry. This is expected to affect demand for dairy ingredients from food and beverage industry between 2020 and 2021.
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