In 2023, the global casein market was valued at US$ 2.7 billion in 2023, is projected to experience robust growth in the forecast period from 2023 to 2033, with a compound annual growth rate (CAGR) of 6.3%, reaching a value of US$ 4.9 billion by 2033.
In 2021, the demand for casein milk witnessed a 7% increase, contributing to a year-over-year growth of 5.8% in the combined casein market, as reported by FMI. Key casein brands identified by Future Market Insights analysis include Lactalis Group, Fonterra Co-operative Group, Royal Fries Campina N.V., and Savencia Fromage.
The expanding utilization of casein in the cosmetics and personal care industries, particularly as hair and skin conditioning agents and emulsifying agents, presents lucrative opportunities for casein manufacturers to enhance their market presence.
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Price Hikes for Raw Materials May Hamper Market Growth
Consumer preferences for plant-based protein over dairy-based protein are likely to limit the market growth of caseins. Another key restraining factor for the casein market is the variable supply of the product around the world, which is expected to further impede market expansion for casein.
Increasing manufacturing costs and raw material prices for the production of casein are expected to impede market expansion for casein during the forecast period.
Asia Pacific is Projected to Offer the Largest Casein Market Opportunity
The casein market is being driven by rising disposable incomes and increased consumer health consciousness. The market may benefit from the expansion of big firms in important emerging economies. In the Asia Pacific region, India and China give significant growth potential for the industry’s leading producers.
The two countries’ rising populations are assisting industry expansion in the Asia Pacific area, particularly in the pharmaceutical and food & beverage sectors. The Asia Pacific region’s robust expansion is projected to have a beneficial impact on the global casein market.
The increasing number of R&D activities conducted by corporations and expanding developments in the industry are projected to move the industry forward.
Key Takeaways
- Through 2033, the flavouring agent market is expected to grow at a function-type CAGR of 6.2%.
- In terms of end use over the forecast period, the market segment for food processing has the highest CAGR of 6.1%.
- By 2033, the United States market for casein may have climbed by 5.2% CAGR, reaching US$ 1.5 Bn.
- The United Kingdom market may have expanded at 5.5% CAGR by 2033, reaching US$ 228.5 Mn.
- China market might have developed at a 7.3% CAGR by 2033, expected to reach US$ 421.2 billion.
- Japanese market for casein is predicted to grow at a 5.7% CAGR by 2033, reaching US$ 355.8 billion.
- South Korean market for casein is expected to expand at a 6.7% CAGR by 2033, reaching US$ 198.5 billion.
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Competitive Landscape
Acquisitions and partnerships and collaborations were among the inorganic growth tactics observed in the market. With the increasing demand for casein in global market, market players are expected to benefit from attractive growth prospects in the future.
Nestlé, Danone, Arla Foods, Groupe Lactalis, Friesland Campina, Fonterra, and Westland Milk Products are among the market’s significant participants.
Recent Developments
- Fonterra
The firm opened its new dairy ingredient plant in Heerenveen, the Netherlands, in February 2015. This new facility will manufacture whey and lactose specialty ingredients for use in paediatric, maternity, and sports nutrition products.
- Saputo
In May 2015, the company bought Lion-Dairy & Drinks Pty Ltd.’s daily cheese business in Australia. Warrnambool Cheese and Butter Factory Company Holdings Limited, the company’s Australian affiliate, made the purchase (WCB). This acquisition will assist WCB in expanding its foothold in the Australian cheese products market.
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Key Segments
By Derivatives Type:
- Sodium Caseinate
- Calcium Caseinate
- Potassium Caseinate
By End-Use:
- Food
- Yogurt
- Cheese Processing
- Ready-to-eat Meals
- Dairy Products
- Coffee Whiteners
- Confectionary
- Sauce & Seasoning
- Meat Processing (Sausage)
- Meat Products
- Beverage
- Pharmaceuticals
- Infant Nutrition
- Clinical Nutrition
- Sports Nutrition
- Personal Care
- Skin Care
- Hair Care
- Cosmetics
- Agriculture/Animal Feed/Poultry
- Other Industries
By Function Types:
- Texturizing Agent
- Flavoring Agent
- Coating Agent
- Binding Agent
- Emulsifying Agent
- Heat Stabilizing Agent
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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