Whole Milk Powder Market Outlook
According to a new report by Expert Market Research titled, “Global Whole Milk Powder Market Size, Share, Analysis, Report and Forecast 2024-2032″, the global whole milk powder market reached a volume of 6.19 million tons in 2023. Aided by increased popularity of dairy products and rising living standards, the market is projected to further grow at a CAGR of 3.1% between 2024 and 2032.
Whole milk powder is essentially dehydrated milk that retains all the nutrients present in whole milk, barring water. Owing to its convenient, lightweight nature and longer shelf life, it has become a pantry staple in households worldwide. It is frequently incorporated in confectionery, baked goods, dairy beverages, and a myriad of other food products, due to its rich, creamy taste and consistent texture.
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One of the key whole milk powder market trends is the soaring demand for easily storable, nutrient-rich food products. With urbanisation on the rise and lifestyles becoming increasingly hectic, consumers are gravitating towards products that are both nutritious and convenient. Whole milk powder, with its extended shelf life and ease of reconstitution, emerges as an ideal fit for the modern, urban diet.
Further propelling the whole milk powder market growth is its application in the chocolate and confectionery industry. As consumers become more discerning, their preferences lean towards creamier, richer chocolates. Whole milk powder is integral in fulfilling this demand, ensuring that chocolates have a smooth texture and a delectable mouthfeel. Moreover, the burgeoning bakery industry utilises whole milk powder to enhance the taste and extend the shelf life of products like cakes, pastries, and cookies.
Another essential facet in the whole milk powder market analysis is the increasing trend of outdoor activities, such as camping and trekking. As these activities demand food that is lightweight, non-perishable, and easy to transport, whole milk powder emerges as an essential component of the outdoor enthusiast’s diet. This is leading to a niche but significant surge in demand.
The global whole milk powder market size is set to expand in the upcoming years. Its multifaceted applications, combined with global dietary trends and the need for convenience, secure its place as a valuable commodity in the global food industry. As dairy consumption remains integral to diets worldwide, whole milk powder stands as a testament to innovation and adaptability in the dairy sector.
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Whole Milk Powder Market Segmentation
The market can be divided based on end use and region.
Market Breakup by End Use
- Dairy
- Infant Formula
- Bakery
- Confectionery
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global whole milk powder market. Some of the major players explored in the report by Expert Market Research are as follows:
- Lactalis International
- Nestle SA
- Dairy Farmers of America
- Danone SA
- Fonterra Co-operative Group
- Others
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