Milk Powder Market Size, Share, In-Depth Analysis, Latest Trends and Forecast 2025-2033

IMARC Group, a leading market research company, has recently released a report titled "Milk Powder Market Report by Product Type (Whole Milk Powder, Skimmed Milk Powder), Function (Emulsification, Foaming, Flavouring, Thickening), Application (Infant Formula, Confectionery, Sports and Nutrition Foods, Bakery Products, Dry Mixes, Fermented Milk Products, Meat Products, and Others), and Region 2025-2033." The study provides a detailed analysis of the industry, including the global milk powder market growth, share, size, trends, and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Milk Powder Market Highlights:

• Milk Powder Market Size: Valued at USD 36.5 Billion in 2024.
• Milk Powder Market Forecast: The market is expected to reach USD 58.4 billion by 2033, growing at an impressive rate of 5.4% annually.
• Market Growth: The milk powder market is experiencing robust growth driven by expanding global population, urbanization, and increasing demand for convenient, shelf-stable dairy products.
• Product Innovation: Major brands are launching fortified milk powder variants enriched with vitamins, minerals, and probiotics to meet evolving consumer health needs.
• Regional Leadership: European Union commands the largest market share, followed by significant growth in Asia-Pacific driven by China's expanding infant formula demand.
• Application Versatility: Milk powder plays a critical role across multiple industries-from infant nutrition and bakery products to sports nutrition and confectionery.
• Key Players: Industry leaders include Nestlé S.A., Fonterra Co-operative Group, Danone S.A., Royal FrieslandCampina N.V., and Arla Foods, which dominate the market with innovative product offerings.
• Market Challenges: Price volatility in raw milk, competition from plant-based alternatives, and stringent food safety regulations present ongoing challenges.

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Our report includes:

• Market Dynamics
• Market Trends and Market Outlook
• Competitive Analysis
• Industry Segmentation
• Strategic Recommendations

Industry Trends and Drivers:

• Explosive Growth in Urbanization and Changing Lifestyles:

The global trend toward urbanization is fundamentally changing the way dairy products are consumed. With urban life being more mobile and faster paced, the demand for ready-to-eat, non-perishable source of foods has increased dramatically. Milk powder is ideal for this type of lifestyle as it does not require refrigeration, has a long shelf-life, and requires minimal space, which is suitable for families living in cities. It is also valuable in areas where refrigeration is sparse or unreliable, and is a quick, convenient way for busy urban folk to get healthy food sources without the need for grocery runs or concern over spoilage. This is also true in Asia, Africa, and Latin America, where rapid urbanization is creating millions more consumers, whose knowledge of the value of shelf-stable dairy products is also increasing.

• Booming Infant Formula Industry Driving Sustained Demand:

Milk powder is useful in infant formula and the infant formula industry is a growing market worldwide. Infant formula applies milk powder as the second largest use and the formula accounts for approximately 35% of worldwide milk powder demand near the start of the 2020s. Factors contributing to the growth of the infant nutrition market are the growing number of working women choosing infant formula instead of breastfeeding, increased awareness regarding the advantages of fortified infant formulas, and a growing middle class in the developing world that can afford premium infant nutrition products. Companies develop innovations to meet market demand. For example, Central and West Africa's first fortified Nido Milk & Soya was developed locally at the Abidjan R&D center in Côte d'Ivoire. Nido Milk & Soya gives the nutritional benefits of protein, fiber, iron and calcium to offer more families access to premium nutrition. The same shift occurred in January 2023 when Royal FrieslandCampina N.V. announced its plans to target health-conscious consumers around the world with a new range of milk powder products which offer additional vitamins and minerals to meet their specific nutritional requirements. Segmenting products based on various stages of infant growth and development has also led to a premium market focused on nutritional value.

• Government Infrastructure Investments Transforming Dairy Capacity:

Several governments and organizations across the world realize the large importance of dairy to the economy and invest into the development of the dairy. For example, NPDD 2021-22 to 2025-26 in India is a program to set up processing and quality testing machinery and strengthen the milk processing capacity of dairy plants across the country. Central Government has created a scheme named Dairy Processing and Infrastructure Development Fund with outlay of Rs. 11,184 crore of which Rs. 4138 crore is corpus fund. Under this arrangement, 8,004 crore has been granted for dairy processing and infrastructure-works such as milk powder plant, value-added milk products plant, bulk milk coolers, electronic milk adulteration testing equipment and renewable energy plants to dairy units across the nation. The animal husbandry infrastructure development fund (AHIDF) of Rs. 15000 crore has been created to set up dairy processing and product diversification infrastructure by private companies, FPOs and cooperatives. A Supporting Dairy Cooperatives and Farmer Producer Organizations (SDCFPO) scheme is being implemented in Assam at an outlay of Rs. 150. 500 crore from 2021-22 to 2025-26, with this infrastructure investment providing the opportunity to develop milk powder production capacity, improve quality, and improve supply chain efficiencies in these milk producing regions.

• Rising Health Consciousness and Functional Food Trends:

Consumers know more about health and nutrition so that it drives innovation in the milk powder market. Functional foods give health advantages beyond simple nutrition. Milk powder gains micronutrients. Vitamins and minerals become additives from manufacturers. Milk powder gains probiotics and prebiotics from manufacturers, making it a functional food with extra value. The milk powder provides specific health benefits. It is more than just a commodity. For example, in 2024 Saputo engineered a number of specialty skimmed milk powder grades which are more mixable and reconstitutable in warm climates, and therefore suitable for inclusion in the Latin American, African and South East Asian markets. Nestle recorded 4% organic sales growth due to innovation in their dairy business in 2024. The sports and nutrition foods product segment is growing as milk powder with a high nutritional value is used in energy bars, protein shakes and nutritional supplements and sports foods. The growth of the sports and fitness industry and the trend of proactive nutrition management are expected to positively impact market growth. As providers of clean label materials including natural, non-GMO and organic products respond to the needs of increasingly advanced and health conscious consumers, their use is expected to increase.

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Milk Powder Market Report Segmentation:

Breakup by Product Type:

• Whole Milk Powder
• Skimmed Milk Powder

Whole milk powder dominates the market, remaining the preferred choice for consumers seeking richer flavor profiles and higher nutritional content, particularly in terms of fat-soluble vitamins and essential fatty acids.

Breakup by Function:

• Emulsification
• Foaming
• Flavouring
• Thickening

The market demonstrates diverse functional applications across food processing, with each function serving specific industry needs from improving texture in baked goods to enhancing flavor profiles in confectionery products.

Breakup by Application:

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

Infant formula represents the largest application segment, driven by the critical role milk powder plays in providing essential nutrients for infant development and the growing awareness among parents about nutritional benefits.

Breakup by Region:

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

Who are the key players operating in the industry?

The report covers the major market players including:

• Arla Foods amba
• Dairy Farmers of America, Inc.
• Danone S.A.
• Fonterra Co-Operative Group Limited
• HOCHDORF Swiss Nutrition AG
• Lactalis Ingredients
• Nestlé S.A.
• Olam International Limited
• Royal FrieslandCampina N.V.
• Saputo Inc.
• Schreiber Foods
• Westland Milk Products

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