According to the research conducted by Market Research Future Reports (MRFR), the global casein and casein derivatives market is estimated to acquire market value of USD 12.5 billion, expanding at the CAGR of 9.1% by the end of 2030. Some of the most significant factors responsible for the market growth are the increasing awareness of the dietary supplements comprising of casein is predicted to play an important role in the market expansion. The growing inclination towards fitness has led to an increased demand for the product, primarily from the sports enthusiasts and the working professionals. There has been an increase in the consumption of protein and vitality bars and caffeinated drinks, augmenting the market further.
Further, expeditious urbanization among the developing countries is estimated to increase the migration of the working class, which is estimated to boost the consumption of protein as a part of the culture. The change in lifestyle, the increased purchasing power of the middle class, change in social-economic status is anticipated to escalate the demand for casein during the forecast period. Also, the increased demand for halal cosmetics in the Middle East region is further accelerating market growth. However, the growing adoption of the vegan diet is estimated to hamper the global casein and casein derivatives market. In addition, the outbreak of the COVID-19 virus has brought immense impact on the global market for casein and casein derivatives market by hampering the manufacturing and supply chain due to the observation of lockdown. A thorough analysis of the COVID-19 market has been performed. We will provide an impact analysis report on the COVID-19 market.
The renowned players of the global casein and casein derivatives market are Armor Proteins (France), Charotar Casein Company (India), American Casein Company (US), Clarion Casein Ltd. (India), Westland Milk Products (New Zealand), Royal FrieslandCampina (Netherlands), Epi-ingrédients (France), Kerry Inc. (Ireland), Erie Foods International Inc (US), Lactoprot Deutschland GmbH (Germany), and a few more.
The global casein and casein derivatives market outlook can be classified into application, type, and geography.
On the basis of application, the global casein and casein derivatives market can be divided into food and beverages, industrial, and others.
On the basis of type, the global casein and casein derivatives market can be divided into casein, caseinates, casein hydrolysates, and others.
On the basis of geography, the global casein and casein derivatives market can be divided into North America, Europe, Asia-Pacific, and the rest of the world.
The global casein and casein derivatives market is estimated to dominate the global market during the forecast period. However, the APAC region is anticipated to boom at the highest CAGR during the review period. The increased demand for casein and casein-derived products in lucrative areas such as India, China, New Zealand, and Australia is estimated to be the most significant factor driving the regional market. The APAC region is estimated to acquire substantial casein and casein derivatives market share and revenue. The North American casein and casein derivatives market insights are estimated to witness increased adoption of veganism, which is likely to impact regional as well as global markets negatively. However, the demand for dairy-based proteins is likely to enhance the regional market. The European casein and casein derivatives market is projected to be lucrative owing to the presence of established players in the various countries of the region.
The global market is projected to show a variation in market trajectory owing to the explosion of COVID-19, which is affecting various regions adversely.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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