The global casein & derivatives market is expected to reach USD 6.95 billion by 2025, at a predicted CAGR of 7.1%, according to a report by Grand View Research, Inc. Rising consumer inclination toward products containing casein as an ingredient in their daily diet to ensure the supply of protein is expected to have a positive impact on the market growth.
Casein, a byproduct of milk, is used in the formulation of numerous products including nutritional supplements, food additives, confectionaries, dairy milk products, and infant formulas. In addition, the product finds application in adhesives, ink, leather finishing, and paints due to superior water solubility and fast drying properties.
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Further key findings from the report suggest:
- Edible casein was the dominant product segment and valued at USD 1.46 billion in 2016 on account of predominant consumption of the product among working professionals and sports athletes. Moreover, the product is expected to remain dominant over the forecast period on account of its penetration in different milk products.
- Personal care is projected to foresee revenue growth at an estimated CAGR of 7.1% from 2017 to 2025. The growing popularity of Halal abased cosmetics in the Middle East countries including Saudi Arabia, Iran, and Jordan as a result of product innovation by personal hygiene manufacturers is expected to open new markets for casein.
- Food & beverage was the largest application segment, accounting for 33.8% of the overall share in 2016
- North America was the second-largest market and accounted for 25.3% of the overall volume in 2016. The region is, however, anticipated to record a decline over the next eight years. High level of substitutional threat from plant proteins including rice, soy, and pea in the U.S. and Canada owing to shifting consumption pattern toward vegan diet is expected to have a positive impact.
- Key industry participants include Nestlé, Fonterra, Danone, Lactalis, Arla Foods, and Dairy Farmers of America
- Technological advancements pertaining to the infusion of milk casein with pea or soy proteins in the nutrition sector is expected to play a key role in opening new market avenues. Furthermore, mergers & acquisitions and the establishment of joint ventures are expected to remain critical success factors for the industry in the near future.
- In April 2017, Danone completed the acquisition of U.S.-based functional food manufacturing firm, WhiteWave. The business will operate under the name, Danone Wave.
- In 2015, Arla Foods announced the acquisition of Sweden-based Falbygdens Ost, a cheese processing company
Grand View Research has segmented the casein & derivatives market on the basis of product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Edible Casein
- Industrial Casein
- Casein Derivatives
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- Food & Beverages
- Paints & Coatings
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com