The latest report by IMARC Group, titled “Milk Powder Market Report by Product Type (Whole Milk Powder, Skimmed Milk Powder), Function (Emulsification, Foaming, Flavouring, Thickening), Application (Infant Formula, Confectionery, Sports and Nutrition Foods, Bakery Products, Dry Mixes, Fermented Milk Products, Meat Products, and Others), and Region 2024-2032”, finds that the global milk powder market size reached US$ 34.6 Billion in 2023. Powdered milk refers to pasteurized milk that is dried through evaporation. This procedure increases the shelf life of milk without the use of a refrigerator. It is used as an ingredient in infant formula, chocolates, and baking recipes. Nowadays, various kinds of milk powders are available in the market, including whole milk powder, skimmed milk powder, dairy whitener, and others. In recent years, milk powder has gained traction as it contains numerous essential nutrients, including vitamins, proteins, calcium, iron, sodium, cholesterol, potassium, fat, and carbohydrates.
Global Milk Powder Market Trends:
One of the primary factors driving the market is the escalating demand for convenient food products among the masses. Additionally, it can be easily transported without the need for cold chain infrastructure, which is accelerating the product adoption rate. Along with this, the busy lifestyle in the urban areas makes it difficult to access fresh milk every day, thus catalyzing the market growth. Apart from this, the extensive adoption of this product in the food and beverage industry (F&B) as ingredients in numerous food products is increasing product sales. Furthermore, the constant developments in the e-commerce infrastructure, improvements in the supply chain, and the invention of online delivery models are strengthening the market growth. Along with this, there has been continual technological advancements and extensive investments by market players in promotional campaigns, marketing strategies, celebrity endorsements, and innovative packaging solutions. Other major growth-inducing factors include the rising health consciousness among individuals, rapid urbanization, and changing dietary patterns of the masses. Looking forward, IMARC Group expects the market value to reach US$ 57.2 Billion by 2032, expanding at a CAGR of 5.6% during the forecast period (2024-2032).
Market Summary:
- Based on the product type, the market has been divided into whole and skimmed milk powder.
- On the basis of the function, the market has been segmented into emulsification, foaming, flavoring, and thickening.
- Based on the application, the market has been classified into infant formula, confectionary, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products, and others.
- Region-wise, the market has been categorized into European Union, New Zealand, China, the United States, Brazil, and others.
- The competitive landscape of the market has also been analyzed, with some of the key players being, Nestlé S.A., Danone S.A., Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Dean Foods, Arla Foods, Dairy Farmers of America Inc., Kraft Heinz Company, Saputo, Inc., Parmalat S.p.A.
Report Scope:
Report Features |
Details |
Base Year of the Analysis |
2023 |
Historical Period |
2018-2023 |
Forecast Period |
2024-2032 |
Units |
Million Tons, US$ Billion |
Segment Coverage |
Product Type, Function, Application, Region |
Region Covered |
European Union, New Zealand, China, United States, Brazil, Others |
Companies Covered |
Nestlé S.A., Danone S.A., Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Dean Foods, Arla Foods, Dairy Farmers of America Inc., Kraft Heinz Company, Saputo, Inc. and Parmalat S.p.A |
Customization Scope |
10% Free Customization |
Report Price and Purchase Option |
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899 |
Post-Sale Analyst Support |
10-12 Weeks |
Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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