Market Highlights
Casein is type of protein primarily obtained from different animal sources including cow milk, buffalo milk, sheep milk, and human milk. The processed forms of casein protein are known as casein derivatives and are used in various application industries owing to their functional benefits. The global casein & casein derivatives market is expected to garner a revenue of USD 6.5 Billion by 2024 and register a CAGR of 7% during the forecast period of 2019 to 2024. The market is expected to offer lucrative opportunities to the market players during the forecast period due to the increasing consumption of casein and casein derivatives in halal cosmetics and technological advancements. Manufacturers are infusing casein with protein derived from plant sources such as soy and pea, to enhance the nutritional benefits of the end products. In the Middle East markets such as Jordan, Iran, and Saudi Arabia, growth in the demand of halal cosmetics is paving the way for several profitable opportunities for the vendors active in the regional market.
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The global casein & casein derivatives market has been segmented on the basis of type and application.
Based on type, the global casein & casein derivatives market has been divided into casein, caseinates, casein hydrolysates, and others. The casein segment is expected to garner the largest market share owing to the high consumption of casein in several applications such as food products, beverages, paints, cosmetics, glue, and pharmaceuticals. However, the caseinates segment is expected to register the highest CAGR during the forecast period as casein is digested slowly in comparison to caseinates.
By application, the global casein & casein derivatives market has been classified as food & beverages, industrial, and others. The food & beverages segment has been further divided into dairy products, dietary supplements, functional food & beverages, and others. The food & beverages segment is expected to garner the largest market share and exhibit the highest growth rate during the forecast period as casein & derivatives are widely used in the food & beverage industry. The functional benefits of caseins & derivatives such as emulsification, viscosity, water binding, structure formation, and heat stability are the major determinants catalyzing the use of casein and its derivatives in food & beverages such as casein supplements, casein protein foods, and casein protein powder.
Key Players
Some of the key players in the global casein & casein derivatives market are Westland Milk Products (New Zealand), Armor Proteines (France), Charotar Casein Company (India), Kerry Inc. (Ireland), Clarion Casein Ltd. (India), Lactoprot Deutschland GmbH (Germany), Epi-ingrédients (France), American Casein Company (US), Royal FrieslandCampina (Netherlands), and Erie Foods International Inc (US).
Some of the strategies followed by the players operating in the market were innovations, product launches, mergers, acquisitions, and joint ventures.
Regional Analysis
The global casein & casein derivatives market has been segmented, by region, into North America, Europe, Asia-Pacific, and the rest of the world.
The European market is projected to dominate the global casein & casein derivatives market owing to the presence of major market players in the region. In addition, increasing health awareness among consumers and surging demand for functional food & beverages and infant nutritional products are also driving the growth of the casein & derivatives market in Europe. However, the Asia-Pacific casein & casein derivatives market is expected to register the highest growth rate during the forecast period owing to the high proliferation of market players in the region and surging demand for casein and its derivatives in emerging economies such as India and China.
Key Developments
In September 2018, Epi-ingrédients launched EPIPROT 60 UL, a functional milk protein concentrate containing caseinates and acid caseins.
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