The increasing milk production is one of the growth drivers of the global milk protein concentrates market. The increasing number of dairy cows is also contributing to the increasing milk production globally. The number of dairy cows increased by about 6% between 2014 and 2016 in India. In the US. California had the highest number of dairy cows in 2018. The number of dairy cows in California and other states in the US is increasing. Thus, the increasing milk production will help in the growth of the global milk protein concentrates market during the forecast period. analysts have predicted that the milk protein concentrates market will register a CAGR of over 4% by 2023.
Another factor which can influence the growth global milk protein concentrates market is the increasing number of products launches by the players in the market. Successful new product launches not only help in increasing the revenue flow of players but also in increasing their market shares. New product launches will also help in keeping the interest of the consumers alive in the market.
Growing preference for plant-based protein products
The growing demand for plant-based protein products, such as soy and wheat protein, might limit the growth of the global milk protein concentrates market during the forecast period. The expanding global vegan population base plays a major role in increasing the demand for plant-based proteins.
For the detailed list of factors that will drive and challenge the growth of the milk protein concentrates market during the 2019-2023, view our report.
The milk protein concentrates market appears to be fairly concentrated and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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