More than $36 Billion Investment Opportunities in the Functional Milk Market - Arizton

APAC held the largest global functional milk market share and accounted for a share of 31% in 2022.

CHICAGO, ILLINOIS, UNITED STATES, March 28, 2023/EINPresswire.com/ -- The global functional milk market was valued at USD 25.22 billion in 2022 and is expected to reach USD 36.63 billion by 2028, growing at a CAGR of 6.42% during 2022-2028, according to the new research report by Arizton Advisory & Intelligence. Increased demand for personalized nutrition, availability of fortified milk powders for adults, and fortified milk for beauty & skin health are the major trends in the market.

The 14-19 age group segment accounted for the highest revenue share of the global functional milk market in 2022. The demand for functional milk among the 14–19 age group is high in developed countries. In addition, the growth in nutrient deficiencies among this age group in LMICs due to the lack of policies and programs to improve adolescents' health and nutritional status is expected to create lucrative opportunities for functional milk market growth. The market by the 14-19 age group is expected to grow at a CAGR of close to 7% during the projected period. Increased awareness of the benefits of functional milk and government initiatives in LMICs can bring huge market growth opportunities.

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Functional milk fills nutrient gaps in the diet, helps reverse night blindness and other nutrition deficiency diseases, and promotes nervous system maintenance in children and adults. Milk fortification is a simple, preventive, low-cost approach to reducing micronutrient inadequacies. Some new developments in the global functional milk market include:

The need to replenish lost nutrients leads to the fortification of dairy products.

Health-conscious consumers consider functional milk a healthier alternative to normal milk, including vitamins A and D, calcium, protein, and other nutrients.

Countries globally increase the sales of functional milk products due to awareness of their benefits.

China and India experienced an increase in functional milk demand. Additionally, many other market segments are anticipated to perform fairly and attain promising growth prospects during the forecast period. However, the shift in consumer preferences toward functional milk alternatives, trade barriers, and associated socio-economic challenges are expected to affect the functional milk market growth.

MARKET TRENDS

Availability of Fortified Milk Powders for Adults: Milk powder is a dried dairy product prepared by the evaporation of milk. The milk powder has a much longer shelf life than liquid milk and does not need refrigeration due to its low moisture content. Functional milk powder or dried milk contains fortified vitamins and minerals not naturally found in milk in significant amounts. Growth in consumer awareness of functional milk powder's health and nutritional benefits is expected to create lucrative opportunities for leading functional milk powder manufacturers during the forecast period. Fortified milk powder contains additional macro and micro-nutrients and can help consumers prevent and fight various lifestyle disorders.

Demand for Lactose-free Functional Milk: The global functional milk market has several lactose-free milk products. In adults’ lactose-intolerance shows up most often in people of East Asian heritage, affecting 70% to 100% of the population, according to the National Institutes of Health (NIH). The increase in lactose intolerance and the demand for low-added sugar or sugar-free products are expected to fuel the sales of lactose-free milk globally.

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FUNCTIONAL MILK MARKET DYNAMICS

Drivers:
Increasing Demand for Lactose-free Functional Milk
Increasing incidence of Micronutrient Inadequacies
Rising Demand for Protein-rich Milk

Restraints
Increasing Preference for Functional Milk Alternatives
Increasing Stringent Trade Barriers
Rise in Socioeconomic & Raw Material Formulation Challenges

Opportunities:
Increased Demand for Personalized Nutrition
Availability of Fortified Milk Powders for Adults
Fortified Milk for Beauty & Skin Health

MARKET SEGMENTATION

Form: Powder and Liquid

Age Group: 14–19, 20–64, 1–13 and 65 & Above

Application: Immunity & Disease Management, Weight Management, Clinical Nutrition, and Others

Distribution Channel: Hypermarkets, Convenience Stores, Online, Grocery Stores, Specialty Stores, and Institutional Sales

Geography: APAC (China, Japan, South Korea, Australia, India, Thailand, Indonesia, Philippines, Malaysia, and Vietnam), North America (the US, and Canada), Europe (Germany, France, the UK, Spain, Italy, Russia, Latin America, Brazil, Mexico, and Argentina), Middle East & Africa (Turkey, Saudi Africa, and Saudi Arabia)

KEY COMPANY PROFILES
Nestlé
Danone
Lactalis International
Abbott
Aroma Milk Products
Arla Foods amba
Best Way Ingredients
Best Health Foods
Bright Life Care
CAPSA
Crediton Dairy
Dairy Farmers of America
Ehrmann
F&N Dairies
FrieslandCampina
Fonterra
Glanbia
GCMMF
Heritage Foods
INGREDIA
Land O’ Lakes
Lycotec
MEGMILK SNOW BRAND
Milligans Food Group
Mother Dairy Fruit & Vegetable
Parag Milk Foods
SADAFCO
SLEEPWELL
Stolle Milk Biologics
Synlait
Tirlán
Tesco
Vindija d.d.
Valfoo
Vinamilk

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Arizton Advisory & Intelligence
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