Global Milk Powder Market to Reach US$ 47.4 Billion by 2028, Propelled by the Escalating Demand for Convenient Food Products

July 28, 2022 | Food & Beverages

The latest report by IMARC Group, titled “Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global milk powder market size reached US$ 32.3 Billion in 2022. 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.

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$ 47.4 Billion by 2028, expanding at a CAGR of 6.40% during the forecast period (2023-2028).

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 2022
Historical Period 2017-2022
Forecast Period 2023-2028
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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Global Milk Powder Market to Reach US$ 47.4 Billion by 2028, Propelled by the Escalating Demand for Convenient Food Products
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More