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The global whole milk powder market reached a volume of 5.10 Million Tons in 2020.
According to the estimates by IMARC Group, the global whole milk powder market is expected to grow at a CAGR of 3.40% during 2021-2026.
The expanding food and beverage (F&B) sector is augmenting the usage for whole milk powder in preparing yoghurt, milkshakes, baked goods, etc., thereby representing one of the key drivers for the global whole milk powder market.
The introduction of organic and lactose-free product variants represents one of the key trends in the global whole milk powder market.
Sudden outbreak of the COVID-19 pandemic had led to the rising shift towards whole milk powder due to the limited supply of liquid milk during lockdown scenarios across several nations.
On the basis of the end use, the market has been bifurcated into dairy, infant formulae, bakery, confectionery, and others. Amongst these, dairy holds the largest market share.
Region-wise, the market has been classified into New Zealand, China, Brazil, the European Union, Argentina, and others, where China dominates the global market.
The key companies in the global whole milk powder market are Lactalis International, Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., and Danone S.A.
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