Global Milk Powder Market is expected to grow at a CAGR of 5.2% during the forecast period from 2019-2025
As per the report published by Fior Markets, the global milk powder market is expected to grow from USD 26,345.6 Million in 2017 to USD 39,567.2 Million by 2025 at a CAGR of 5.2% during the forecast period from 2018-2025.Asia Pacificregion is dominating the market the milk powder market in the Asia-Pacific is driven by changing lifestyles, which is led by globalization and increase in working population. The rise in the affluent population and increase in penetration of internet and social media drives the consumption of processed and packaged food, which makes way for packaged goods in the region.
Global Milk Powder Market 2019, Global Milk Powder Market Growth, Global Milk Powder Market Trends and Analysis,
Milk Powder Market by Type (Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat-Filled Milk Powder, Other Milk Powder), Application,Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leadersin the industry Arla Foods amba, Dairy Farmers of America Inc., Danone, Dean Foods Company, Fonterra Co-operative Group, Kraft Foods Inc.among otherswhichare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in September, Lactalis acquired the nutrition business of South African company Aspen Pharmacare for EUR739.8 million as it aims to expand in the infant formula market.
The type segment is classified into whole milk powder, skimmed milk powder, dairy whitener, buttermilk powder, fat-filled milk powder, and other milk powder. The whole milk segment dominated the market and valued around USD 7,850.98 Million in 2017. Whole milk is the most natural form of milk. Whole milk powder contains higher calories and is suitable for people who require high amounts of calories. It is also used as an ingredient in food items that need a thicker consistency. Whole milk powder has all the nutrients present in milk, except vitamin C, vitamin B12, thiamin, and a reduced amount of protein. The application segment is segmented into nutritional food, infant formulas, confectionaries, baked sweets, savories, and others. Infant formulas dominated the market with the highest share of 32.10% in 2017. The growing participation of women in the labor force has led to a rising in a number of women working outside their houses, which drives the growth of the infant formulas market. Infant formulas present an appealing alternative to working mothers for their babies as per the need and convenience.
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Consumer preference for an alternative to milk is estimated to drive the milk powder market during the forecast period. Growing use of milk powder in infant foods and the presence of several nutrients such as vitamin C, vitamin B12, thiamin, and high amounts of protein is a key driver aiding in the growth of this market Also, increasing disposable income of population living in developing nations is also boosting up the demand for milk powder. But the growing concerns for ultra-high temperature (UHT) milk is restraining the market growth which may obstruct the growth of the market. However, increased prevalence of flavored milk powder has opened up new opportunities in the market may boost the market in the coming years.
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