The global skim milk powder market is expected to be valued at US$ 33.5 billion in 2023, with projections indicating significant growth to US$ 56.15 billion by 2033. This growth trajectory, at a CAGR of 5.3%, reflects increasing consumer demand for low-fat dairy products driven by rising health consciousness. Skim milk powder, derived by removing fat from whole milk and subsequently spray drying it, offers the same nutritional benefits as whole milk but with significantly fewer calories.
The preference for low-fat and no-fat products is becoming increasingly pronounced among consumers. A survey conducted in 2021 revealed that 21% of adults in the USA considered low-fat content among their top three purchasing factors when shopping for food, a notable increase from 16% in 2019. In the realm of dairy products, over half of all Americans prefer consuming lower-fat options, aligning with broader health trends emphasizing reduced fat intake to manage weight and improve overall health.
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The COVID-19 pandemic further accelerated the shift towards health-boosting and fat-reducing food products, including skim milk powder. Studies have shown that weight management and reduced calorie intake became a priority for many individuals during the pandemic, leading to a sustained increase in demand for low-fat dairy products.
Several key factors are driving the robust growth of the skim milk powder market:
- Health Consciousness: The increasing awareness of health risks associated with high-fat diets, such as obesity and heart disease, is pushing consumers towards low-fat alternatives like skim milk powder.
- Pandemic Impact: The COVID-19 pandemic heightened awareness of health and nutrition, prompting more consumers to opt for healthier food choices, including skim milk powder.
- Rising Obesity Rates: With global obesity rates nearly doubling since 1980, and predictions that one in five women and one in seven men will have obesity by 2030, the demand for low-fat and fat-free dairy products is surging.
- Infant Nutrition: Skim milk powder is increasingly used in infant formula production due to its affordability and nutritional benefits, providing a significant growth avenue for manufacturers.
Competitive Landscape
The skim milk powder market features a significant number of key players, including Nestle, Dairy America, Alpen Dairies, Unilever, Nova Dairy Products, Amul, and Nandini Roy Choudhury. These companies are focusing on expanding their product portfolios and enhancing production capabilities to meet the growing demand.
For instance, on January 25, 2023, Nestle introduced NAN® OPTIPRO® 5, a milk-based formula for children above three years, emphasizing a unique blend of protein, calcium, iron, and vitamin D. Similarly, Amul’s AMUL SAGAR Skimmed Milk Powder caters to people with diabetes and those on low-calorie diets.
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Opportunities for Global Skim Milk Powder Market Participants
The North American market, followed by Europe, dominates the global skim milk powder market. However, South Asia and Oceania are expected to be the fastest-growing regions due to changing consumer food patterns and abundant milk production. East Asia and Latin America also offer potential opportunities for B2B business, particularly in the sports nutrition and infant food markets.
The skim milk powder market is set for significant growth, driven by increasing health consciousness, rising obesity concerns, and expanding applications in food products. For investors, the market offers promising opportunities for growth and profitability, particularly through investments in innovative product developments and market expansion strategies.
Global Skim Milk Powder: Market Segmentation
By Type:
- Flavoured Non Fat Powder
- Whole Milk Powder
- Butter Milk Powder
By Food Application:
- Confectionery
- Bakery
- Nutritional Food
- Infant Formulas
- Dry Mixes
- Fermented Milk Products
- Frozen Desserts
- Meat products
- Others (Dressings & Sauces)
By Distribution Channel:
- Modern Trade
- Convenience Store
- Online Retail
- Others (Wholesaler)
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