The milk powder market is experiencing steady growth due to its versatility and convenience. The increasing demand for dairy-based products, coupled with the extended shelf life of milk powder, has led to a surge in its global consumption. The product finds extensive application in the food and beverage industry, especially in the preparation of baby formula, bakery products, confectionery, and dairy-based desserts. Additionally, the rising awareness about its nutritional benefits, such as high protein content and long-term storage capabilities, further drives its market growth.
The milk powder market is anticipated to surpass the current market value of USD 34.5 billion in 2022 and to expand at a CAGR of 4.5% between 2022 and 2032.
Milk powder is manufactured from several types of milk, which determines its content. After using spray drying or roller drying method we get the milk powder which makes the product is simple to store and carry, lowering storage and transportation expenses.
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In addition, one cup of milk powder has four times the nutritional value of a cup of liquid milk. A scoop of skim milk powder can offer 30% of your daily calcium needs, as well as other critical minerals including selenium, phosphorous, magnesium, potassium, and zinc. It also helps with weight loss and is low in cholesterol, making it an excellent nutraceutical for treating heart disease and obesity.
Thus, the milk powder market is expected to show significant growth owing to the growing demand for shelf stable functional foods.
Key Takeaways from the 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.
“The milk powder market will grow significantly as huge number of consumer base are having busy lifestyle which is resulting into increase in adoption of packaged food products.”, says a Future Market Insights analyst.
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.
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.
Milk Powder Market by Category
By Type, Milk Powder Market is segmented as:
- Skimmed Milk powder
- Whole Milk Powder
- Fat Filled Milk Powder
- Dairy Whitener
- Other Milk Powder
By Application, Milk Powder Market is segmented as:
- Bakery & Confectionary
- Nutritional Food
- Infant Formulas
- Others
By Distribution Channel, Milk Powder Market is segmented as:
- B2B
- B2C
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Retail Stores
- Online Retail
By Region, Milk Powder Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle east and Africa
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The report covers exhaustive analysis on:
- How big is the Milk Powder Market?
- How much Whole Milk Powder does contributes to Milk Powder Market?
- What is the North America Milk Powder Market Outlook?
- Which region holds the largest share in the Global Milk Powder Market?
- Who are the top players in the Global Milk Powder Market?
- What are the major Global Milk Powder Market drivers?
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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