Global Skim Milk Powder Market Report and Forecast 2024-2032

Global Skim Milk Powder Market Outlook

The global skim milk powder market size reached a value of around USD 9.46 billion in 2023. The market is further expected to grow at a CAGR of 5.50% between 2024 and 2032, reaching a value of around USD 15.30 billion by 2032.

Key Trends in the Market

Skim milk powder refers to the powdered version of skim milk, which is created by removing fat from fresh pasteurised milk and then evaporating the liquid to turn it into a dry powder. It has a longer shelf life and may be reconstituted into a liquid skim milk product by adding water. Skim milk is abundant in vitamins, minerals, potassium, phosphorus, magnesium, calcium, protein, and other vital elements, while being low in fat.

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• Skim milk powder is used to make a variety of bakery and confectionary products and food and beverages that are sold in restaurants and other commercial food outlets. The growing use of skim milk powder in the thriving food and beverage industry is assisting the skim milk powder market growth.

• The demand for ready-to-eat (RTE) food products that use skim milk powder is expanding internationally as a result of rapid urbanisation, rising disposable income of consumers, and growing consumer demand for a healthy diet. This is one of the key skim milk powder market trends driving the market growth.

• Skim milk powder is now being used more frequently when making baby food and infant formula to help with digestion. Rising awareness regarding benefits of skim milk powder and growing concerns of parents about infant formulas are further bolstering the skim milk powder market demand.

Global Skim Milk Powder Market Analysis

Based on type, the market is divided into flavoured and non-fat, whole milk, and butter milk. The skim milk powder market segmentation, on the basis of application, is bakery and confectionery, food and beverages, and infant formulas, among others. On the basis of distribution channel, the market is bifurcated into retail and food service. The regional markets for skim milk powder are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global skim milk powder market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Arla Foods amba

• Dairy Farmers of America Inc.

• Danone S.A.

• Fonterra Co-operative Group Limited

• Lactalis Group

• Nestlé S.A.

• Westland Co-operative Dairy Co. Ltd.

• Gujarat Co-operative Milk Marketing Federation Ltd.

• Vreugdenhil Groep BV

• Alpen Food Group B.V.

• Others

Global Skim Milk Powder Market Share by Application

Infant formula applications of skim milk powder account for a sizable share of the market due to the rising awareness of the benefits of skim milk powder for infants and increasing demand for infant formulas. Skim milk powder is commonly used for infant formulas as it provides a significant quantity of vitamins and minerals without being too heavy for digestion. Infant formulas with skim milk powder are often advised for babies who have delicate stomachs and need formulas that are easy to digest and nutritious.

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Global Skim Milk Powder Market Share by Region

North America is expected to witness substantial growth in the skim milk powder global market during the forecast period as a result of the increasing health consciousness of consumers and changes in lifestyle. The widespread knowledge of the advantages of skim milk powders and availability of several flavoured milk powders and a range of packaging options is the primary factor fuelling the growth of the market in the region.

Competitive Landscape

Arla Foods amba, founded in 2000 and headquartered in Viby, Denmark, is a global food company that focuses on dairy products. The company’s products using brand names Arla, Lurpak, and Castello Milk include milk powder, milk-based beverages, speciality cheese mozzarella, yoghurt, cheese spread, butter, and spreads.

Danone S.A., established in 1919 and based in Paris, France, is a significant provider of food and beverages. The core divisions of the company are medical nutrition, vital dairy and plant-based goods, and water, with a focus on fresh dairy products.

Gujarat Co-operative Milk Marketing Federation Ltd., founded in 1973 and headquartered in Gujrat, India is a leading dairy company Their product line includes milk in both UHT and pouch form, milk powders, ghee, infant formula, dairy whitener, buttermilk, and tea and coffee whiteners.

Other market players include Dairy Farmers of America Inc., Fonterra Co-operative Group Limited, Lactalis Group, Nestlé S.A., Westland Co-operative Dairy Co. Ltd., Vreugdenhil Groep BV, and Alpen Food Group B.V., among others.

Key Highlights of the Report