The global milk powder market reached a volume of 10 Million Tons in 2017. The market volume is further projected to reach 13 Million Tons by 2023, at a CAGR of 4% during 2018-2023. Milk powder is manufactured by dehydrating fluid milk in order to increase its shelf-life. It has a similar nutrient profile as fluid milk, consisting of thiamine, proteins, vitamin C and B12, etc. Apart from recombination and reconstitution, milk powder is also utilized for its functional properties in several value-added foods such as confectionery, bakery and meat products. In recent years, the demand for milk powder has increased as a number of countries have been unable to meet their rising milk demand and rely on imported milk which is generally procured in the form of milk powder.
Global Milk Powder Market Drivers/Constraints:
- Powdered milk has a longer shelf-life than liquid milk due to the presence of low moisture content. Owing to this, it can be easily stored at ambient temperatures, transported to remote locations without proper cold chain infrastructure, and used at times when milk production is low.
- As milk powder has diversified applications in the food and beverage industry, the sustained growth of this industry has been proactive in stimulating its demand, particularly in the emerging regions such as China, India, Brazil, etc.
- Milk powder offers the same nutritional value as regular milk, owing to which, it is used in sports nutrition products including nutrition bars and beverages. The increasing demand for these products, driven by growing fitness consciousness, has been catalyzing the milk powder market.
- The governments of various nations have laid down stringent policies on taxation, duty structures, subsidies and export/import of milk powder which can have major implications on the bottom lines of milk powder producers and hinder the market growth.
Breakup by Product Type:
On the basis of type, the market has been bifurcated into whole milk powder and skim milk powder. Amongst these, whole milk powder is the most popular product type and represents a commonly used ingredient in the food industry.
Breakup by Function:
Based on function, the market has been segregated into emulsification, foaming, flavoring and thickening. Milk powder is used for emulsification in salad dressings, meat emulsions, soups, sauces, dairy beverages and baked goods; as foaming agent in the preparation of cakes, mousses and ice creams; as a flavoring agent in baked goods; and thickening agent in sauces, dairy beverages, yogurts, puddings and baked goods.
Breakup by Application:
Based on application, confectionery dominates the global milk powder market, wherein milk powder is used in the production of malted milk, nougat centers, caramel confections, milk chocolates, soft sweets and various confection coatings. Other major application segments include infant formula, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products and others.
On a geographical front, the European Union is the largest producer of milk powder worldwide and accounts for more than a fifth of the total global share. Other major regions are New Zealand, China, United States and Brazil.
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
- Friesland Campina
- Dean Foods
- Arla Foods
- Dairy Farmers of America
- Kraft Foods
This report provides a deep insight into the global milk powder industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a milk powder manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the milk powder industry in any manner.
Key Questions Answered in This Report:
- How has the global milk powder market performed so far and how will it perform in the coming years?
- What are the key regions in the global milk powder market?
- Which are the popular product types in the global milk powder market?
- What are the major functions in the global milk powder market?
- What are the various application segments in the global milk powder market?
- What are the price trends of milk powder?
- What are the various stages in the value chain of the global milk powder market?
- What are the various stages in the value chain of the milk powder industry?
- What are the key driving factors and challenges in the milk powder industry?
- What is the structure of the milk powder industry and who are the key players?
- What is the degree of competition in the milk powder industry?
- What are the profit margins in the milk powder industry?
- What are the key requirements for setting up a milk powder manufacturing plant?
- How is milk powder manufactured?
- What are the various unit operations involved in a milk powder plant?
- What is the total size of land required for setting up a milk powder plant?
- What are the machinery requirements for setting up a milk powder plant?
- What are the raw material requirements for setting up a milk powder plant?
- What are the packaging requirements for milk powder?
- What are the transportation requirements for milk powder?
- What are the utility requirements for setting up a milk powder plant?
- What are the manpower requirements for setting up a milk powder plant?
- What are the infrastructure costs for setting up a milk powder plant?
- What are the capital costs for setting up a milk powder plant?
- What are the operating costs for setting up a milk powder plant?
- What will be the income and expenditures for a milk powder plant?
- What is the time required to break-even?