The global milk mineral concentrate market is experiencing robust growth, driven by the increasing awareness of health and wellness among consumers and a rising incidence of calcium deficiency-related health issues. A comprehensive study conducted on the various facets of this market provides valuable insights that aid in understanding its growth trajectory during the forecast period.
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The Health Drive: A Strong Catalyst for Market Expansion
The global populations growing focus on health and wellness is leading to a paradigm shift towards nutritional foods and supplements, resulting in a surge in demand for functional foods and beverages. Calcium-rich milk mineral concentrates are increasingly used in various food and beverage applications to address nutritional needs. A significant factor driving this demand is the rising prevalence of bone-related illnesses, such as osteoporosis and osteopenia, which are linked to calcium deficiency. Across the world, there is a growing incidence of calcium shortage due to various factors, including inadequate calcium consumption and underlying medical conditions, fueling the demand for milk mineral concentrates.
Government Initiatives and Expanding Applications Drive Market Growth
In countries like China, government officials focus on product fortification has led to increased awareness and usage of milk mineral concentrates. Such initiatives are expected to fuel market expansion in various regions. Additionally, market participants are actively expanding the applications of milk mineral concentrates to meet the unmet needs of the population, particularly concerning bone health. For instance, it is estimated that around 10 million Americans suffer from osteoporosis, with approximately 44 million at high risk for developing it due to insufficient bone mass, as reported by the Bone Health and Osteoporosis Foundation (BHOF) in 2021.
COVID-19 Impact and Changing Consumer Preferences
The COVID-19 pandemic presented difficulties, yet the milk mineral concentrate market grew profitably during this time. Increased demand for milk and dairy products, coupled with minor supply chain disruptions, contributed to higher revenues for market players. However, changing consumer preferences, including a shift towards vegan and plant-based products, are expected to limit the markets expansion in the forecast period.
Segment Insights
The market is dominated by the 20% to 25% milk mineral concentrate category because effective therapies are needed to address the growing prevalence of mineral deficiencies. Market participants are focusing on increasing the content of essential minerals like calcium, catering to the demand for fortified food products and nutritional beverages.
Asia Pacific Spearheads Growth with High Prevalence of Calcium-Deficient Illnesses
Because calcium-deficient disorders are becoming more common, particularly in young children and the elderly, the Asia Pacific region is predicted to lead the market for milk mineral concentrate. Government initiatives and regulations for fortified food items, including infant formulae, are further propelling market growth.
Competitive Landscape
Prominent players in the milk mineral concentrate market include Arla Foods Ingredients, Armor Proteines, Food Ingredient Technology Co., Ltd., Lactalis Ingredients, Garuda International Inc., Fonterra, Donaghys, ADM, MG Ingredients, Whiteoakmills, and Draco Ingredients. Industry leaders continue to pursue strategic partnerships and expand their product offerings to maintain a competitive edge.
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