Growth opportunities in dairy derivatives: Australia, New Zealand
John Madden, head of ingredients research at Euromonitor International, said that demand and growth of dairy-derived ingredients across Australia and New Zealand is strengthening.
Cheese powder and whey proteins are forecast a CAGR of nearly 3% over 2010-2015, Madden said.
The continuing rise in demand for convenience food is driving cheese powder production, as it can be used in frozen pizzas, pasta sauces and savour snacks as a flavouring, he said, and the increased demand for whey proteins is being driven by the rise in popularity of ready-to-drink (RTD) coffee.
Overall, the dairy derivatives market, including milk fat, whey powder, casein and whey proteins, is a strong sector with production exceeding 164,000 tonnes in 2010 in Australia and New Zealand.
Volumes for dairy derivatives across the two countries are forecast at a CAGR of around 2% over 2010-2015, compared to Asia Pacific (5%), Latin America (3%) and North America and Western Europe (1%).
