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Report Overview
The global whole milk powder market attained a volume of 6.38 million tons in 2023, growing at CAGR of 3.1% between 2024 and 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Whole Milk Powder Market Size
The global whole milk powder market attained a volume of 6.38 million tons in 2023, growing at CAGR of 3.1% between 2024 and 2032.
The global whole milk powder market is being driven by the increased popularity of dairy products among consumers and the thriving food and beverage industry. The industry growth is supported by factors like the rising living standards and inflating per capita income, in confluence with the growing demand for premium products, in both developed and developing nations.
The growing focus of manufacturers on providing consumers with enhanced products is giving a further boost to the industry. The fortification of whole milk powder with various nutrients like Vitamin D and calcium will add to the benefits offered by the products, thus targeting health-conscious customers.
Whole Milk Powder Market Report Snapshots
Whole Milk Powder Market Analysis
*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
In 2023, the global whole milk powder market attained a volume of nearly 6.38 million metric tons.
The market is projected to grow at a CAGR of 3.1% between 2024 and 2032.
The major drivers of the market are rising disposable incomes, thriving retail sector, growing shift towards dairy products, increased focus on food fortification, longer shelf life of the product, and growing technological advancements.
The key trends guiding the growth of the market include the launch of lactose-free whole milk powder variants with enhanced functional properties and the ease of availability.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Dairy, infant formula, bakery, and confectionery are the major end uses of whole milk powder in the market.
The major players in the market are Lactalis International, Nestle SA, Dairy Farmers of America, Danone SA, and Fonterra Co-operative Group, among others.
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