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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Milk Powder Market Outlook
The global milk powder market expanded at a CAGR of around 3.8% in the historical period of 2018-2023. The market is further estimated to witness a healthy growth in the forecast period of 2024-2032.
| Global Milk Powder Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | XX |
| Market Size 2032 | USD Billion | XX |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.8% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 4.4% |
| CAGR 2024-2032 - Market by Country | India | 5.0% |
| CAGR 2024-2032 - Market by Country | China | 4.2% |
| CAGR 2024-2032 - Market by Product Type | Whole Milk Powder | 4.3% |
| CAGR 2024-2032 - Market by Function | Emulsification | 4.6% |
| Market Share by Country 2023 | Germany | 4.5% |
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Diverse Applications of Milk Powder Bolstering the Growth of the Market
The diverse applications of milk powder in the production of various packaged food and beverage products owing to its ease of use and versatility are contributing to its increased demand. Milk powder is used as a flavouring and thickening agent in the manufacturing of confectionery, baked goods, nutrition bars, and beverages, which are increasingly preferred by the working population. In addition, the availability of various milk powder types such as whole, skim, instant, and full cream milk powders, among others, is expected to support the market growth in the coming years.
The Asia Pacific to Provide Lucrative Growth Opportunities for the Market Expansion of Milk Powder
The Asia Pacific region is expected to account for a significant share of the global market for milk powder. This can be associated with the changing consumer lifestyles and the rising consumption of confectionery and baked goods in the region. Better economic conditions in emerging countries are further creating a huge demand for dried milk products. In addition, the heightened availability of these products across online platforms is also expected to contribute to the growth of the market in the forecast period, fuelled by the growing consumer preference for online shopping.
Market Segmentation
Milk powder refers to a dairy product which is made through the evaporation of milk. These powders provide a completely natural taste without sweetness. It offers a long shelf life, owing to the low moisture content.
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By product type, the market is divided into:
- Whole Milk Powder
- Skimmed Milk Powder
- Others
On the basis of function, the industry can be categorised into:
- Emulsification
- Foaming
- Flavouring
- Thickening
- Others
Based on application, the market can be segregated into:
- Infant Formula
- Confectionery
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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| CAGR 2024-2032 - Market by | Country |
| India | 5.0% |
| China | 4.2% |
| Canada | 3.6% |
| UK | 3.5% |
| Italy | 2.7% |
| USA | XX% |
| Germany | XX% |
| France | XX% |
| Japan | 2.6% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Growing Innovations and New Product Launches by the Leading Players to Augment the Market Growth of Milk Powder
The market is currently being driven by the heightened consumer demand for milk powder, owing to its numerous nutritional benefits, including a high quantity of calcium, protein, vitamin B12, and thiamine, among others. This can be associated with the growing consumer interest in health and fitness enhancement. In addition, the convenience of storage offered by milk powder, owing to its low moisture content and improved shelf-life, is anticipated to support the market growth. Also, the rising expenditure by the leading market players on the development of new and innovative milk powder products that provide various health benefits is also expected to support the market growth in the coming years. For instance, in December 2020, Nestlé S.A. announced the launch of a powdered milk beverage for adults and senior citizens under the YIYANG®Active brand in China. This product is a functional food that aims to enhance bone health, joint functioning, and muscle strength among individuals.
Key Players in the Global Milk Powder Market
The report gives a detailed analysis of the following key players in the global milk powder market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Nestlé S.A.
- Danone S.A.
- Fonterra Co-operative Group Limited
- Royal FrieslandCampina N.V.
- Saputo Inc.
- Arla Foods Amba
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Function |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Milk Powder Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The major drivers of the market include the longer shelf life, presence of several nutrients, development of flavoured milk powder, increase in working population, increase in the consumption of processed and packaged food, and changes in consumer work and lifestyles.
The convenience in storage and transportation of milk powder and an increase in the use of milk powder in infant foods are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
On the basis of the product type, the global market for milk powder has been segmented as skimmed milk powder and whole milk powder, among others.
The major applications include infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, and fermented milk products, among others.
Emulsification, foaming, flavouring, and thickening, among others are the functions of the milk powder.
The major players in the industry are Nestle S.A., Danone S.A., Lactalis, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Saputo Inc., and Arla Foods Amba, among others.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124