Posted on 17 Dec 2018
Global Milk Powder Market to Reach 12.5 Million Tons by 2024
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:
- Various types of milk powder available in the market include skimmed milk powder, whole milk powder and dairy whitener. In 2018, whole milk powder accounted for the majority of the total global milk powder production. It was followed by skimmed milk powder and dairy whitener.
- The major end-use sectors of milk powder include infant food, confectionery, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products and others.
- Some of the major markets for milk powder include Asia-Pacific, North America, Europe and others.
- The global milk powder market is surrounded by a number of small and big players. Some of the key players include Nestle, Danone, Lactalis, Fonterra and Friesl and Campina.
Expert Market Research has analysed the global milk powder market according to type, end-use, major regions and top players:
Market breakup by Type
- Skimmed milk powder
- Whole milk powder
- Dairy whitener
Market breakup by End-use
- Infant Food
- Confectionery
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
- Meat Products
- Others
Market breakup by Region
- Asia-Pacific
- North America
- Europe
- Others
Top players
- Nestle
- Danone
- Lactalis
- Fonterra
- FrieslandCampina
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