Future Market Insights (FMI) forecasts steady expansion for the non-fat dry milk market from 2023 to 2033, with a projected Compound Annual Growth Rate (CAGR) of 3.1%. The market value is expected to climb from US$ 8.4 billion in 2023 to US$ 11.3 billion by 2033.
The robust growth of the non-fat dry milk market can be attributed to several key factors driving market dynamics. Non-fat dry milk is witnessing extensive utilization in the burgeoning market for functional foods and beverages, owing to its versatility and ability to augment nutritional content. Additionally, the rising popularity of plant-based diets has spurred the demand for non-dairy alternatives such as non-fat dry milk, catering to consumers seeking lactose-free or vegan options.
The health-conscious trend among consumers plays a pivotal role in driving the adoption of non-fat dry milk, propelling market growth. The versatility and nutritional advantages offered by non-fat dry milk make it a preferred choice in various food and beverage applications, contributing to its market expansion.
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The longer shelf life of non-fat dry milk makes it an attractive choice for food manufacturers looking to improve their product’s stability and reduce waste. This advantage allows manufacturers to stock up on non-fat dry milk and plan production schedules more efficiently, leading to cost savings and enhanced supply chain management.
Key Takeaways
- United States Leads the Pack: With a commanding 30.4% market share, the United States dominated the non-fat dry milk industry in 2022. This product’s popularity stems from its adaptability, extended shelf life, and the increasing customer preference for healthier dairy alternatives. As a result, there is a high demand for this product across the nation, reinforcing its strong market position.
- Germany Displays Strong Development: With an 8.6% market share in non-fat dry milk in 2022, Germany is on a solid development trajectory. The nation’s commitment to producing environmentally friendly and high-quality dairy products has contributed to the steady growth of this market. Additionally, the increasing trend of using non-fat dairy alternatives in various food applications further fuels the demand for these products in the country.
- Japan Investigates Non-fat Options: Japan’s 4.1% market share in 2022 indicated a surging interest in non-fat dry milk. The demand for low-fat products is on the rise in Japan as consumers increasingly prioritize healthy options and actively seek dairy substitutes. This trend is consistent with the nation’s changing food culture and the pursuit of healthy eating practices.
- Health Awareness Fuels Demand in Australia: Australia’s 2.3% market share in 2022 showcases the nation’s strong inclination towards health trends, reflected in the growing demand for healthier dairy products like non-fat dry milk. With health-conscious customers on the rise and an increasing preference for low-fat and non-fat goods, the country’s demand for non-fat dry milk is steadily increasing.
- Potentials are Visible in China and India: With a CAGR of 2.5% and 3.8%, respectively, China and India show great potential for non-fat dry milk. These developing markets are observing a change towards better dietary options, such as low-fat dairy substitutes. In the coming years, both China and India hold significant promise for non-fat dry milk producers, driven by their large populations and increasing disposable incomes.
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Competitive Landscape
The non-fat dry milk industry is moderately competitive, driven by several significant factors. One key aspect is the continuous market expansion, which attracts new players and intensifies competition among existing ones. As the demand for functional foods and beverages grows, the significance of non-fat dry milk as a crucial component further amplifies the competitive environment.
Cargill
A global leader in agricultural goods and food ingredients is Cargill. They provide various non-fat dry milk products in high, medium, and low heat options. Due to their large product selection, global presence, and dedication to quality, Cargill is a formidable rival.
FrieslandCampina
Dutch dairy cooperative FrieslandCampina is based in the Netherlands. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to its great brand recognition, a wide range of products, and dedication to sustainability, FrieslandCampina is a formidable rival.
Lactalis
The dairy manufacturer Lactalis is based in France. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to their large product selection, global presence, and dedication to quality, Lactalis is a formidable rival.
Arla Foods
A Danish dairy cooperative, Arla Foods. One of the biggest dairy enterprises in Europe, they provide a variety of non-fat dry milk. Due to its well-known brand, a wide range of products, and dedication to sustainability, Arla Foods is a formidable rival.
Key Developments
- In August 2021, Aadvik Foods, the pioneering brand in India that introduced the camel milk industry, unveiled a new product: Donkey non-fat dry milk. By adding this product to its portfolio, the company enhances its distinctive range, which already includes raw camel milk powder, frozen camel milk, goat milk powder, frozen goat milk, and more.
- In May 2021, Lactalis Ingredients broadened its milk powder selection by introducing a fresh addition – organic whole, non-fat dry milk. This milk is sourced solely from French dairy farms that adhere strictly to the standards of organic farming. These stringent organic specifications ensure a product that is entirely free from neutralizing agents, antibiotics, preservatives, and other additives.
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Non-Fat Dry Milk Market By Category
By Product Type:
- High-heat
- Medium-heat
- Low-heat
By Sales Channel:
- Modern Trade
- Traditional Grocery Store
- Convenience Stores
- Online Channels
- Direct Sales
By Application:
- Home Reconstitutions
- Dairy Whiteners
- Bakery and Confectionery
- Desserts
- Ice-cream
- Dairy Blends
- Snacks
- Nutritional Supplements
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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