According to the latest report by IMARC Group, titled "Whole Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global whole milk powder market size reached 5.5 Million Tons in 2019, growing at a CAGR of 1.76% during 2014-2019. Whole milk refers to the creamy-white powder obtained by removing water from pasteurized, homogenized or non-homogenized milk using the rolling and spray drying process. It is characterized by a pleasing taste and retains the essential nutrients of the milk. Additionally, it can be fortified with calcium and vitamins A and D. Since the drying process significantly lowers the moisture content of milk, the powder is extremely light in weight, has a relatively long shelf life and eliminates the need for refrigeration. Consequently, it is widely preferred for the preparation of a vast array of food products, such as tea, coffee, homemade yogurt and milkshakes. It can also be used as a source of both fat and non-fat milk solids in various baked goods and confectionery items.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Whole Milk Powder Market Trends:
The global market is primarily driven by the convenience and numerous functional properties offered by whole milk powder, including foaming, emulsification, thickening and dispersibility. Along with this, the growing preference for milk powder can be attributed to its relatively affordable cost. Whole milk powder can be transported over long distances without the requirement of cold-chain facilities in limited storage space. This results in reduced shipping-related costs, which significantly brings down the overall price of the marketed product. The market is further driven by the growing popularity of milk powder in the regions with a scarcity of milk. Furthermore, the advent of organic and lactose-free whole milk powder, coupled with the shifting dietary patterns of the masses, is creating a positive outlook for the market. Some of the other factors contributing to the market include significant growth in the food and beverages sector, the availability of flavored powder milk and the expansion of online retail across the globe. On account of the aforementioned factors, the market is projected to exhibit moderate growth during 2020-2025.
- Based on the end use sector, the market has been classified into dairy, infant formulae, bakery, confectionery and others.
- On the geographical front, the market has been segregated into New Zealand, China, the European Union, Brazil, Argentina and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Lactalis International, Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., and Danone S.A.
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