The milk powder market is set to witness growth at a CAGR of around 4.5% and top valuation of USD 50.1 Bn by 2032.
Milk powder is a product that is obtained from various types of milk, which can determine its composition. The use of spray drying or roller drying methods during manufacturing makes it easy to store and transport, resulting in lower storage and transportation costs.
Additionally, milk powder has a higher nutritional value than liquid milk, with one cup of milk powder containing four times the nutritional value of a cup of liquid milk. A scoop of skim milk powder can provide 30% of your daily calcium needs, along with other essential minerals such as selenium, phosphorous, magnesium, potassium, and zinc. It is also low in cholesterol and aids in weight loss, making it an excellent nutritional supplement for treating obesity and heart disease.
Milk powder is widely used as an ingredient in several food products, such as ice cream, cultured milk, yogurt, chocolate, confectionery, baked goods, soups, and sauces. The growing demand for processed and packaged food products, driven by changing lifestyles and increasing social media and internet penetration, is boosting the milk powder market’s growth.
Therefore, the milk powder market is expected to exhibit significant growth owing to the rising demand for shelf-stable functional foods.
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Key Takeaways from Market Study
- The global milk powder market is expected to be valued at USD 34.5 Bn in 2022 and it is expected to grow with significant CAGR of around 5%.
- North America is expected to dominate the global milk powder market holding 23.9% share in 2022 and it is expected to grow with CAGR of around 4.6% over the forecast period. Followed by
- Among the type, whole milk powder is dominating the type segment holding more than 50% share in 2022 and it is expected to grow with CAGR of 4.1% over the forecasted period.
- Bakery & confectionary is dominating the application segment holding more than 40% market share in 2022 and it is expected to grow with CAGR of 4.3% over the forecast period.
- Among the distribution channel segment B2B distribution channel is dominating the segment holding around 70% of market share in 2022 and it is expected to grow with CAGR of around 5% over the forecast period.
Competitive Landscape
The key players involved in the milk powder market are continuously expanding their product portfolio in order to gain competitive advantage in the market. In addition to this, these key players are also involving into merger and acquisition activities in order to reduce the competition and increase their hold on to the market.
Key Companies Profiled are: Nestlé, Danone, Groupe Lactalis, Fonterra, Royal FrieslandCampina N.V., Dean Foods, Arla Foods, Dairy Farmers of America, Kraft Foods, Saputo, Parmalat, The Kraft Heinz Company
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For instance –
- In July 2020, Mead Johnson who is one of the world’s leading international pediatric nutrition company launched new milk powder globally.
- In November 2019, Nestle who is one of the leading food and nutrition giant introduced high end milk powder products for Chinese family consumers.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Milk Powders market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (whole milk powder, skimmed milk powder, dairy whitener, fat filled milk powder, other milk powder), application (nutritional food, infant formulas, bakery & confectionary, others), and distribution channel (b2b, b2c (hypermarkets/supermarkets, convenience stores, specialty stores, retail stores, online retail)) across seven major regions of the world.
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