The global milk powder market is poised for remarkable expansion, with an estimated valuation of USD 34.5 billion in 2022, projected to soar at a compelling CAGR of 4.5% through 2022-2032. This growth surge is bolstered by heightened demand in the global dairy products sector, an escalating preference for high shelf life and nutrition-rich offerings, and the increasing trend towards packaged food products.
Technological advancements facilitating efficient production, coupled with expanded product portfolios, sophisticated design and packaging, and effective operational maintenance, are key growth drivers. Rising consumption of associated products like ice creams and bakery items further complements the demand for milk powder across the globe.
Key Statistics:
- Market Value in 2022: USD 34.5 Billion
- Forecasted Value in 2032: USD 50.1 Billion
- Global Growth Rate: 4.5%
- Customization Offer: Save 30% by selecting specific countries or regions.
Unrivalled Bakery Industry Boosts North America: Key Takeaways
North America Emerges as a Powerhouse, Fueled by Milk Powder’s Integral Role in Bakery and Confectionary Products
The relentless growth of the bakery industry in North America is a pivotal factor propelling the milk powder market. With the US positioned as a global hub for bakery products, the increased utilization of milk powder in these products positively impacts the regional market. Simultaneously, a growing consumer inclination towards innovative and healthful dairy, bakery, and ice cream products further fuels demand.
The US holds over 75% market share in the North America milk powder market, with a robust CAGR of around 4.8% projected.
To Get The Sample Copy Of Report Visit! https://www.futuremarketinsights.com/reports/sample/rep-gb-14898
Whole Milk Powder Dominance and Global Outlook: Key Insights
Among various milk powder types, whole milk powder reigns supreme, accounting for over 50% market share in 2022. Renowned for its richness in protein, calcium, and nutritional values, whole milk powder finds extensive use in diets and as a replacer or substitute in water/oil interfaces for formulating fat emulsions.
Country-wise Performance and Market Trends: Key Insights
- US Market: Holds around 15% of the global market, with over 75% share in the North America milk powder market, poised to grow at a CAGR of approximately 4.8%.
- Germany Market: Expected to dominate the Europe milk powder market, holding over 20% share in 2022, with a projected CAGR of around 4.0%.
- China Market: Anticipated to dominate the South Asia market with around 45% share in 2022, and a robust CAGR of approximately 6.5%.
Category-wise Trends and Distribution Dynamics: Key Highlights
- Most Preferred Type: Whole milk powder holds over 50% share and is expected to grow at a CAGR of around 4.1%.
- Leading Application: Bakery & confectionary dominates with over 40% market share, projected to grow at a significant CAGR of around 4.3%.
- Distribution Channel: B2B distribution channel dominates with around 70% market share, driven by high demand from food product manufacturers. B2C distribution channel expected to grow at a lucrative CAGR of 6.3%, fueled by expanding online retail.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
