Global Milk Powder Market Outlook
According to a new report by Expert Market Research titled “Global Milk Powder Market Size, Share, Analysis, Report, Demand, Forecast 2024-2032″, the global milk powder market witnessed a healthy growth in 2023. Aided by the booming demand for convenient food items and the versatile nature of milk powder, the market is expected to grow significantly by 2032.
Milk powder, essentially dried milk, is produced by evaporating the water content from fresh milk. This process renders the milk powder with an extended shelf life and reduces its weight, making it ideal for transportation. Commonly used as a dairy ingredient in various products, milk powder finds its way into chocolates, confectionery, bakery products, infant formulas, and even in certain beverages. Its nutritional profile, closely resembling that of fresh milk, includes essential minerals, vitamins, and proteins that contribute to health and wellness.
The surge in demand for convenience food has played an instrumental role in the ascent of the milk powder market demand. As urbanisation spreads and the pace of life quickens, consumers are leaning towards products that not only provide nutrition but are also easy to store and use. Milk powder, with its long shelf life and ease of reconstitution, fits the bill perfectly.
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Moreover, the rising global population and the subsequent demand for dairy-based infant formulas are giving the milk powder market growth an additional thrust. As parents globally become increasingly conscious about ensuring optimal nutrition for their infants, products enriched with milk powder have witnessed a growing preference.
In the realm of fitness and health, milk powder is steadily gaining ground. As awareness about the importance of a balanced diet grows, especially among the younger demographic, milk powder’s inclusion in health drinks and protein shakes has witnessed an uptick and further adds value to the milk powder market size. Its rich calcium and protein content make it an excellent choice for muscle repair, bone health, and overall vitality.
On the industrial front, the bakery and confectionery sectors are leveraging the benefits of milk powder. Its ability to enhance the texture, taste, and mouthfeel of various products, from chocolates to cakes, is making it an indispensable ingredient for manufacturers. As per the milk powder market analysis, in regions with limited access to fresh dairy, milk powder stands out as a viable alternative, ensuring that people receive their daily dose of dairy nutrition.
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Milk Powder Market Segmentation
The market can be divided based on product type, function, application, and region.
Market Breakup by Product Type
- Whole Milk Powder
- Skimmed Milk Powder
- Others
Market Breakup by Function
- Emulsification
- Foaming
- Flavouring
- Thickening
- Others
Market Breakup by Application
- Infant Formula
- Confectionery
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
- 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 milk powder market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nestlé S.A.
- Danone S.A.
- Fonterra Co-operative Group Limited
- Royal FrieslandCampina N.V.
- Saputo Inc.
- Arla Foods Amba
- Others
FAQs:
What constitutes the primary industry drivers for the market’s growth?
- The market’s significant drivers encompass an extended shelf life, the presence of various nutrients, the evolution of flavored milk powder, a rise in the working population, an uptick in the consumption of processed and packaged food, and shifts in consumer work and lifestyles.
What are the pivotal industry trends characterizing the global milk powder market?
- The market’s growth is notably steered by trends such as the convenience in the storage and transportation of milk powder and an increased utilization of milk powder in infant foods.
According to the EMR report, which regions play a crucial role in the milk powder industry?
- The vital regions in the industry landscape comprise North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
What product types shape the dynamics of the milk powder market?
- The global milk powder market is segmented into product types, with skimmed milk powder and whole milk powder standing out as primary categories, among others.
What applications dominate the market’s landscape?
- The market applications span a wide array, including infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, and fermented milk products, among other diverse applications.
What functions are associated with milk powder?
- Milk powder serves various functions, including emulsification, foaming, flavoring, thickening, among others, contributing to its versatility.
Who are the notable industry players, as per the report?
- The industry boasts key players like Nestle S.A., Danone S.A., Lactalis, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Saputo Inc., and Arla Foods Amba, among other influential contributors highlighted in the report.
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