The global milk powder market reached a volume of 11.2 Million Tons in 2020. The market is further projected to exhibit moderate growth during 2021-2026. 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:
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 market. Other major regions are New Zealand, China, the 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:
This report provides a deep insight into the global milk powder market 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:
The global milk powder market reached a volume of 11.2 Million Tons in 2020.
The ease of transportation and longer shelf life of milk powder represents the significant factors driving the market growth.
The development of new technologies and sustainable product packaging by leading manufacturers represent the major market trends.
The imposition of the lockdowns and travel restrictions due to the outbreak of coronavirus disease (COVID-19) has negatively impacted the procurement and sales of liquid milk in several parts of the world. This has led to supply chain disruptions, resulting in an increased demand for milk powder.
Whole milk powder is the most popular product type, followed by skim milk powder.
On the basis of the function, milk powder is mostly used for emulsification. Other major functions of milk powder are foaming, flavoring, and thickening.
Based on the application, the market has been categorized into confectionery, infant formula, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products and others. At present, confectionery represents the largest application segment across the globe.
Region-wise, the European Union exhibits a clear dominance in the market. Other regions include New Zealand, China, the United States and Brazil.
The leading players operative in the industry are Nestlé S.A., Danone S.A., Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Dean Foods, Arla Foods amba, Dairy Farmers of America (DFA), Inc., The Kraft Heinz Company, Saputo, Inc., and Parmalat S.p.A.
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