Dairy Whiteners Market to depict appreciable growth prospects over 2022-2032

The global dairy whitener market is set to witness growth at a CAGR of 6% and is anticipated to reach a valuation of around US$ 19 Bn by 2032. Dairy whiteners, also known as milk powder, are commonly used as a milk substitute, especially in tea and coffee.

Increased consumption of tea and coffee around the world is expected to boost the global dairy whiteners market. Other products containing them include hot chocolate, puddings, soups, and sauces.

Dairy whiteners have a number of advantages over conventional milk, namely convenience, portability, and a longer shelf life, will drive the global dairy whiteners market. Due to increased health consciousness, preference for conventional milk and milk products over dairy whiteners may impede the growth.

However, expansion of infant formula industry is expected to provide a lucrative opportunity for the global dairy whiteners market. Dairy whiteners are used extensively in the production of infant formula.

As a result, during the projection period, an increase in the demand for infant formula is likely to supplement the need for dairy whiteners. Factors such as rising birth rates and falling mortality rates, which result in an increase in the world's newborn population, are expected to propel the global dairy whiteners market.

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Key Takeaways from Market Study

Based on product type, unflavored dairy whitener is anticipated to account for around 50% of the market share over the forecast period.
North America dairy whitener market is expected to witness a lucrative growth rate of 7.0% CAGR during the forecast period.
In terms of packaging, the sachets segment is expected to hold a market share of over 40% during the forecast period
China is projected to hold significant share in the global dairy whiteners market over the assessment period.

"Unflavored dairy whiteners are set to witness a significant growth in demand as they do not alter the taste of the original food or beverage allowing to be used in a wide range of food items," says a Future Market Insights analyst.

Competitive Landscape

Leading dairy whitener makers are attempting to broaden their footprint across promising areas by introducing new products, developing strategic partnerships with existing players, and purchasing small-scale producers. The following are some noteworthy market developments:

Arla Foods launched a US$ 558 Mn investment plan in June 2018, focused on four main areas: dairy products, healthy and natural foods, whey, and sustainable food production. Over 66% of its spending in that year was devoted to expanding its presence across Europe.
Fonterra Co-operative announced in October 2021 that its dairy product outreach in the U.K. will expand further, as the country has decided to remove tariffs on all dairy products over the next five years, in order to balance difficulties encountered during the COVID-19 epidemic.
Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global dairy whitener market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

Dairy Whiteners Market by Category

By Product Type:

Flavoured Dairy Whitener
Unflavored Dairy Whitener

By Packaging:

Carton Packs
Sachets
Plastic Jars
Jigger Pots
Stick Packaging

By Sales Channel:

Offline Sales Channel
Supermarkets/Hypermarkets
Departmental Stores
Convenience Store
Other Sales Channel
Online Sales Channel
Company Website
E-commerce Platform

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.