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Report Overview
The global milk powder market was valued to reach a market size of USD 40.15 Billion in 2024. The industry is expected to grow at a CAGR of 6.30% during the forecast period of 2025-2034. One of the driving factors behind the milk powder market is the increasing demand for convenient, long-shelf-life dairy products. Busy lifestyles, rising disposable incomes, and growing populations within emerging economies contribute to the consumption of milk powder, thus aiding the market growth to attain a valuation of USD 73.96 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- There is an increasing demand for milk powder products that offer added nutritional benefits, such as fortified infant formulas and dairy products for elderly customers. B2B companies can leverage this trend by creating products that align with the growing consumer preference for functional, nutrient-rich dairy powders.
- Milk powder is widely used in the food processing industry, especially in bakery, confectionery, and beverages. The growth of processed and ready-to-eat foods, combined with increased urbanization, makes it a profitable market for B2B suppliers that can offer good quality milk powder at competitive prices to manufacturers, thus bolstering the growth of the milk powder market.
- Milk powder, in cosmetics, has been lately used as a natural bleach and moisturizer. Its proteins and lactic acid help in lightening up the skin tone while hydrating, making this a highly demanded ingredient in cosmetic skincare products. Companies can capitalize on this trend by formulating dairy-based cosmetics for the increasingly growing demand among consumers.
Competitive Landscape
The global milk powder market players are emphasizing innovative products that vary according to their consumer requirements in terms of nutritional content, lactose-free and organic milk powder. Milk powder companies are seeking emerging markets, including Asia Pacific and Latin America, where rising demand can be met. Another important aspect for them is sustainability. Players, such as Nestlé and Danone, invest in eco-friendly packaging and other ethical sourcing practices. They also try to benefit from the increasing demand for sports nutrition and infant formula products.
Key Industry Players
Nestlé S.A.
Nestlé S.A was established in 1867, based in Vevey, Switzerland. They are producing various types of milk powders for infant formula, sports nutrition, and everyday family nutrition with their products such as Nido and Nan.
Danone S.A.
Danone S.A. was established in 1919 in Paris, France. Their brands Nutrilon and Cow & Gate focus on infant nutrition and specialty nutrition. Danone specializes in healthy products that respect health-conscious and sustainability-based formulations.
Fonterra Co-operative Group Limited
Fonterra is a leading supplier of Anchor Milk Powder and Anmum, serving markets across infant formula, bakery, and dairy-based nutritional products with a focus on quality and sustainability. Founded in 2001 and headquartered in Auckland, New Zealand.
Royal FrieslandCampina N.V.
Founded in 1896 and headquartered in Amersfoort, Netherlands, FrieslandCampina produces Friso and Dutch Lady milk powders, specializing in infant nutrition, bakery products, and high-protein dairy offerings for global markets.
Other market players include Saputo Inc., and Arla Foods Amba, among others.
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.
In 2024, the market reached an approximate value of USD 40.15 Billion.
The milk powder market is assessed to grow at a CAGR of 6.30% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 73.96 Billion by 2034.
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