Market Trends of Asia-Pacific Dairy Ingredients Industry
This section covers the major market trends shaping the APAC Dairy Ingredients Market according to our research experts:
Milk Powder Held the Largest Market Share
The demand for dairy products in the Asian market is rising. Skimmed milk powder is largely used in the ice-cream industry which is pushing the market for skimmed milk products in Asia. For instance, as per the data revealed by the Food and Agricultural Organization, the consumption of fresh dairy products in India is expected to increase by 2.3% a year, reaching 108kg per capita in 2028. However, increasing prices of skimmed milk powder in the Indian market has resulted in the decline in milk procurement during winter, the peak producing season has triggered concern about supplies in summer, a lean season. This has led to rising demand for the creation of a buffer stock of skimmed milk powder.
India Remains Fastest Growing Country
India being a nerve center of the global dairy industry, offers galore of opportunities to investors and entrepreneurs, willing to capitalize on one of the world's fastest-growing markets for milk and milk products. As a result, the dairy ingredient market in the country has been witnessing a surge in market entries followed by diversified product launches. Food companies in India are now more inclined to procure quality and differentiated raw materials to formulate their products, portraying promising opportunities for dairy ingredient manufacturers to emphasize in research and development sector and eventually come up with the exceptional products.
