Latin America Dairy Ingredients Market

Latin America Dairy Ingredients Market Growth and Forecast (2023 - 2028):

The Latin America Dairy Ingredients Market had a market value of USD 5.28 billion in 2022 and is forecasted to exhibit a CAGR of 4.78% and reach USD 6.67 billion by 2028. The Dairy Ingredients market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with rise in awareness among consumers about health, fitness and wellness.

Market Overview:

Dairy ingredients are one of the most important part of the production of dairy and other food products. Their primary uses include enhancing the nutrition value, adding flavors and other functions like emulsification and solubility.

Drivers and Restraints:

The dairy ingredients have had a high potential in their applications among new products, and have hence shown a rapid growth recently. Other major factors contributing to the market growth include, growth in applications in field of nutrition and convenience foods, rise in demand for bakery products, increasing production of dairy products, emerging markets around various regions. The market faced some restraints as well, which are available alternatives such as plant proteins, rising incidences of lactose allergies and intolerance, dairy products adulteration. These factors have been hindering the growth of the market.

Latin America Dairy Ingredients Market Segmentation Analysis:

The Latin America Dairy Ingredients Market is broadly classified on the basis of form, type and application. Based on form, the segments include milk and whey. The segmentation on the basis of type is done under milk powder, milk protein concentrates, casein & caseinates, milk protein isolates, whey ingredients, lactose & derivatives, milk protein hydrolysates. On the basis of application, the market is categorized into bakery & confectionery, convenience foods, infant milk formula, dairy products, sports & clinical nutrition.

Region Analysis:

Geographically the Latin America Dairy Ingredients Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America.

Key Players in the Market:

Major Key Players in the Latin America Dairy Ingredients Market are

• Fonterra Co-Operative Group Limited
• Arla Foods
• Glanbia PLC
• Farmers of America
• Groupe Lactalis
• Euroserum
• Saputo Inc
• Devondale Murray Goulburn
• Frieslandcampina
• Volac International Limited