Growing demand for protein-based product and rising demand from various industries such as food & beverage, pharmaceutical, personal care & cosmetics has given positive impact on target sodium caseinate market growth.
NEWARK, Del, Nov. 20, 2023 (GLOBE NEWSWIRE) — FMI analysts project a sodium caseinate market worth US$ 5.1 billion in 2023 and US$ 8.0 billion in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 4.6%.
The demand for sodium caseinate is high in the food & beverages, cosmetics, pharmaceuticals, and chemicals industries. The food & beverage industry is anticipated to be the leading consumer of sodium caseinate during the forecast period.
Increasing application of sodium caseinate in a wide range of food products to enhance their protein content. Sodium caseinate has better functionality and nutritional value, it has become a primary choice of additive for food and beverage manufacturers.
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Rising preference for convenience and ready-to-eat foods fuels the demand for products that have extended shelf life so that they remain fresh and edible for long periods of time. Sodium caseinate acts as a food stabilizer and is added to numerous food and beverage products. These factors are anticipated to propel the demand for sodium caseinate across the globe during the forecast period.
Some regulatory bodies in various regions have recognized sodium caseinate as a safe food additive ingredient, which has contributed to its acceptance and availability in the market. FAO and WHO recommend the addition of sodium caseinate as a food additive and stabilizer in dairy products, poultry products, fish, baby food, medicine, tobacco, salad dressing, and desserts, boost the market demand during the forecast period.
Demand for sodium caseinate is expected to be driven due to its use in cosmetics and pharmaceuticals industries and other industrial applications, such as adhesives and paints, further expanding its market potential.
Key Takeaways
- From 2018 to 2022, the sodium caseinate market demand expanded at a CAGR of 8.4%
- Based on grade, the food grade segment is expected to account for a CAGR of 4.5% during the forecast period.
- Global sodium caseinate demand in Germany is expected to expand at a CAGR of 4.3% during the forecast period.
- In the United States, the market is expected to reach US$ 4.1 billion between 2023 and 2033.
- A growth rate of 4.4% is expected for the food additives segment over the forecast period.
- China is projected to expand by 4.1% between 2023 and 2033.
- By 2033, the sodium caseinate market in India is anticipated to expand at a CAGR of 4.0% during the forecast period.
“With the increasing prevalence of protein deficiency diseases and increasing awareness among people regarding the importance of functional and healthy food. Sodium caseinate demand will likely grow. Increasing usage of sodium caseinate in pharmaceuticals and cosmetic products is anticipated to support the growth of the market during the forecast period.” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape
As the sodium caseinate market has developed into a highly competitive environment since the beginning of this century, global demand has increased dramatically. The market players are using major growth strategies including growth methods such as technological development, growth, and mergers and acquisitions to increase market share, reach, and profit.
Some of the recent developments from the market are as follows-
- Kerry Group, an Irish multinational company, offers a broad portfolio of food ingredients and flavor solutions, including sodium caseinate. They cater to a wide range of industries, including the dairy, beverage, and processed food sectors.
- FrieslandCampina Ingredients is a Dutch dairy cooperative that produces dairy ingredients, including sodium caseinate. They serve customers in the food and nutrition industries worldwide.
- Sachsenmilch Leppersdorf GmbH is the German-based company is known for its high-quality dairy ingredients, including sodium caseinate. They supply ingredients to the food and beverage industry and other sectors.
Report Scope
| Attributes | Details | ||
| Estimated Market Size in 2023 | US$ 5.1 billion | ||
| Projected Market Valuation in 2033 | US$ 8.0 billion | ||
| Value-based CAGR 2023 to 2033 | 4.6% | ||
| Forecast Period | 2023 to 2033 | ||
| Historical Data Available for | 2018 to 2022 | ||
| Market Analysis | Value in US$ billion | ||
| Key Regions Covered |
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| Key Market Segments Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global sodium caseinate market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the sodium caseinate market, the market is segmented on the basis of Product grade (Food Grade, Industrial Grade) Application, (Food Additives, Emulsifier, Free Fat Stabilizer, Others), End-Use (Food & beverages, Pharmaceutical, Cosmetics, Chemicals, Other) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
About the Chemicals & Materials at Future Market Insights
The Chemicals & Materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Old Source: https://www.globenewswire.com/en/news-release/2022/01/27/2374537/0/en/Sodium-Caseinate-Market-worth-US-7-41-Bn-by-2031-Comprehensive-Research-Report-by-FMI.html
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