Posted on 17 Dec 2018
Milk powder is a dairy product which is made by drying or evaporating the moisture from the fluid milk. This is done in order to preserve it and increase its shelf life. Due to the low moisture content, it does not require any refrigeration. Owing to the intrinsic functional properties of milk powder, it is used as a food ingredient in value-added foods such as bakery, confectionery, sports and nutrition foods, meat products, etc.
Besides this, ease of storage and transportation along with low distribution costs of milk powder have augmented its demand all around the world, particularly in the regions where milk production is almost insignificant and places with poor transport facilities. Moreover, growing population, rising disposable incomes and increasing adoption of powdered milk as a substitute to regular milk have induced the growth of the global milk powder market. According to a new report by Expert Market Research, the market reached a volume of 10 Million Tons in 2018 and is expected to reach 12.5 Million Tons by 2024. Despite currently experiencing a moderate growth, the market is anticipated to witness a strong growth in developing markets in the near future.
Key findings from the report:
Expert Market Research has analysed the global milk powder market according to type, end-use, major regions and top players:
Market breakup by Type
Market breakup by End-use
Market breakup by Region
Expert Market Research (EMR) is a market research and consultancy firm providing syndicated and custom research along with consultancy services to a wide clientele base which includes Fortune 1000 companies as well as small and medium enterprises. With our tailored approach, the clients gain valuable and unbiased insights that help to improve their competitive edge and realize sustainable growth.
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