The global casein and caseinate market is teeming with companies both large and small that predominantly operate in global and local markets respectively. Of them, few large companies hold prominence in the market due to high revenue generation from sales of dairy products for their nutritional value.
Top players in this market such as Fonterra are focused on developing new products to serve niche growth areas. These players are also vying to expand into emerging markets by means of selling new nutrition products. Some other key names in the global casein and caseinate market are Arla, Danone, Friesland Campina, Nestle, Lactalis, Westland Milk Products, and Saputo. The global casein and caseinate market was valued at US$ 2,459.2 Mn in 2017. The market is anticipated to be worth US$ 3,564.4 Mn by the end of 2025 expanding at a CAGR of 4.8% therein.
The global casein and caseinate market is segmented depending upon type, application, and geography. In terms of type, the casein market is classified into edible and industrial casein. Of the two, industrial casein enjoys a higher market share due to numerous industrial applications of caseins. The caseinate market based on type has been classified into sodium caseinate, calcium caseinate, and potassium caseinate. Of them, sodium caseinate is likely to represent the leading market share over the 2017-2025 forecast timeframe.
Favorable Physical Properties of Casein to Make Industrial Segment Attractive
Depending upon application, the casein and caseinate market is segregated into food and beverages, industrial, pharmaceuticals, cosmetics, and others. Food and beverages, among them, currently holds the leading share in the overall market. Going ahead, the segment is anticipated to hold supremacy over other application segments in the casein and caseinate market. On the other hand, industrial application segment is anticipated to emerge attractive in several parts of the world over the forecast period. The physical properties of caseinate such as ability to bind with pigments account for its wide application in water-based paints. Also, the emulsifying properties of caseinates make them suitable to be used as stabilizers and emulsifiers in oil and latex paints.
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Growth of Indian Dairy Industry to Boost Growth of Asia Pacific except Japan Regional Market
Geography-wise, the global casein and caseinate market is classified into North America, Latin America, Western Europe, Eastern Europe, Rest of Europe, Japan, and Asia Pacific except Japan. Of them, North America is currently the leading regional market for casein and caseinate mainly because of rising demand for nutritional food composed of vital nutrients such as protein. The growth of the industrial sector in the U.S. is also contributing to the growth of this regional market. In absolute value, North America casein and caseinate market is predicted to contribute a revenue of US$ 1,231.6 Mn by the end of 2025.
Asia Pacific except Japan is predicted to display significant growth in the casein and caseinate market in the upcoming years. The growth of the Indian dairy industry in terms of both production and consumption is contributing to the Asia Pacific except Japan casein and caseinate market.