Milk Powder Market Size, Key Players, Segmentation, Opportunity and Forecast 2024-2032

IMARC Group, a leading market research company, has recently releases report titled "Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", The study provides a detailed analysis of the industry, including the global milk powder market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the milk powder market?

The global milk powder market size reached US$ 34.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 57.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/milk-powder-processing-plant/requestsample

Factors Affecting the Growth of the Milk Powder Industry:

• Long Shelf Life and Storage Convenience:

The long shelf life and storage convenience of milk powder represents one of the key factors driving the growth of the milk powder market across the globe. Unlike fresh milk, milk powder doesn't require refrigeration and can be stored for extended periods, thus making it an ideal choice for regions with limited access to fresh milk due to logistical challenges or lack of refrigeration facilities. This long shelf life also reduces waste and spoilage, offering a cost-effective solution for both consumers and suppliers. Milk powder's ease of transportation and storage makes it a popular choice for use in disaster relief, remote areas, and situations where preserving fresh milk is impractical.

• Growing Demand in the Food and Beverage Industry:

The versatility of milk powder in various food and beverage applications significantly contributes to the milk powder market growth. Milk powder is extensively used in the manufacturing of dairy products, baked goods, confectioneries, and infant formula, owing to its nutritional value and ability to enhance flavor and texture which is boosting the growth of the market. The rising global demand for processed and convenience foods, coupled with the growing bakery and confectionery industries, is leading to an increased use of milk powder as a key ingredient. This broad range of applications in the food industry, from infant nutrition to gourmet cooking, is driving the continuous demand for milk powder.

• Health and Nutritional Benefits:

The nutritional profile of milk powder, which retains most of the vitamins, minerals, and protein of fresh milk, is another factor fueling its market growth. Its high calcium content is beneficial for bone health, and the presence of other nutrients makes it a valuable especially in regions with a high prevalence of malnutrition. Additionally, the availability of various types of milk powder, such as whole, skimmed, and dairy-free alternatives, caters to diverse dietary needs and preferences, including lactose intolerance and vegan diets. The focus on health and wellness, along with the increasing awareness of the nutritional benefits of milk powder, is driving its adoption among health-conscious consumers.

Milk Powder Market Report Segmentation:

Breakup By Product Type:

• Whole Milk Powder
• Skimmed Milk Powder

Whole milk powder represented the largest product type segment in the milk powder market as it contains all the fat content of fresh milk, which is preferred for its rich flavor and nutritional value, thus making it widely used in various culinary and dairy applications.

Breakup By Function:

• Emulsification
• Foaming
• Flavouring
• Thickening

Based on function, the milk powder market has been divided into emulsification, foaming, flavouring, and thickening.

Breakup By Application:

• Infant Formula
• Confectionery
• Sports and Nutrition Foods
• Bakery Products
• Dry Mixes
• Fermented Milk Products
• Meat Products
• Others

On the basis of application, the milk powder market has been divided into infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products and others.

Breakup By Region:

• European Union
• New Zealand
• China
• United States
• Brazil
• Others

The European Union's position as the largest market is attributed to its well-established dairy industry, high consumption and production levels of milk powder, and the presence of major dairy exporters, coupled with strong demand from both domestic and export markets.

Global Milk Powder Market Trends:

The growing demand for specialty milk powders, such as organic, lactose-free, and fortified products, catering to health-conscious consumers and those with dietary restrictions is driving the growth of the milk powder market across the globe. This trend reflects an increased focus on health and wellness, as well as personalized nutrition which is influencing the market growth. In addition to this, there is a rising shift towards sustainable and ethical production practices, with consumers increasingly preferring products from environmentally friendly and socially responsible sources is fueling the market growth which includes a focus on sustainable farming practices and animal welfare.
Technological advancements in milk processing and packaging are enhancing the quality and shelf life of milk powder products, enabling manufacturers to better preserve the nutritional value and taste, while also improving the convenience and appeal of milk powder in various market segments.

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=504&flag=C

Who are the key players operating in the industry?

The report covers the major market players including:

• Nestlé S.A.
• Danone S.A.
• Lactalis Group
• Fonterra Co-operative Group Limited
• Royal FrieslandCampina N.V.
• Dean Foods
• Arla Foods
• Dairy Farmers of America Inc.
• Kraft Heinz Company
• Saputo, Inc.
• Parmalat S.p.A.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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This release was published on openPR.