Milk Protein Market Size

Milk Protein Market size was over USD 12.5 billion in 2023 and is expected to reach USD 28.3 billion by the end of 2036, growing at a CAGR of 6.5% during the forecast period, i.e., 2024-2036. In 2024, the industry size of milk protein is estimated at USD 13.3 billion.

The global milk protein market is expected to thrive, supported by an array of favorable factors boosting consumer awareness of health and wellness, demand for functional foods, and sports nutrition products. Due to this increasing demand, milk protein companies are busy innovating products and expanding their portfolios. Several milk protein manufacturers invest in research and development to introduce new milk protein formulations answering to the detailed needs of consumers, be it regarding plant-based or clean-label products. For instance, in August 2024, Fonterra partnered with Superbrewed to introduce a new line of milk protein concentrates made for ready-to-drink products.

Government and regulatory bodies also play an important role in shaping the milk protein market. There are policies now in place in most countries to support home dairy industries and promote the production of value-added dairy products such as milk proteins. According to the U.S. Department of Agriculture, exports of milk protein concentrate from the United States increased by 15% in 2023 over the previous year, documenting the growing demand worldwide. Companies are also shifting toward food safety and quality standards; investments in advanced processing technologies and traceability systems.