South America dairy protein market is anticipated to witness a CAGR of 4.83% during the forecast period (2020-2025).
Key Highlights
- The major factor driving the dairy protein industry in South America is the awareness regarding health and well-being.
- With lifestyle diseases and obesity incidences on the rise, manufacturers of dairy proteins are motivated to innovate and deliver products meeting the discerning needs of health-conscious consumers.
- The demand for whey protein concentrates and isolates is high in the region due to its versatile applications. Growing population, increasing income, and changing psychographics in the region are regulating the dairy protein market growth in South America.
Key Market Trends
Sports and Clinical Nutrition is Likely to Promote Market Growth
The consumers, especially the millennials, and gym enthusiasts in Brazil and Argentina are focusing on increasing strength and enhanced recovery of the body after a workout. Moreover, consumers and athletes are looking for natural and less processed nutritional solutions with proven benefits. This factor is providing the ingredient manufacturers with the opportunity to introduce high-protein products with multiple benefits, which appeal to the athletes and gym enthusiasts. Additionally, with the development of the economies and technological advancements, the parents are also getting concerned about the health of their babies and opting for the best infant formulas to provide the right amount of protein as required, thus providing an opportunity to the protein manufacturers to develop compatible products.
Argentina is the Major Market for Dairy Products in the Region
Argentina is a major market in the South American region in terms of the dairy sector. The country has vast grasslands for the cattle to feed on. Moreover, the agriculture base of the country encourages the rearing of cattle. The Argentinian population is fond of dairy products, especially cheese. According to UN Comtrade, Argentina imported 3.43 million kilograms of processed cheese in 2017, to satiate the local demand. Thus, owing to the enormous local demand and the rapid industrialization, it is a great chance for new cheese industries to develop in the country which would, in turn, boost the market of dairy protein in the region.
Competitive Landscape
South America dairy protein market is consolidated with the domination of global players over domestic players. The major opportunity for the players to grab the market is by launching innovative solutions to cater to the inflated demand for cheese production and use in sports and clinical nutrition, which includes infant formulas. The versatility and the cost of proteins also play a major role in developing brand value. The global players are indulging in mergers, acquisitions, and partnerships with the local food industries to capture the regional market to have a strong hand due to their brand image. The most active players in the market are Arla Foods, Fonterra Co-Operative and Saputo Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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