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Global Milk Powder Market Size, Share, Trends, Forecast: By Product Type: Whole Milk Powder, Skimmed Milk Powder, Others; By Function: Emulsification, Foaming, Flavouring, Thickening, Others; By Application: Infant Formula, Confectionery, Sports and Nutrition Foods, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Milk Powder Market Outlook
The global milk powder market expanded at a CAGR of around 3.8% in the historical period of 2018-2023. The market is further estimated to witness a healthy growth in the forecast period of 2024-2032.
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Diverse Applications of Milk Powder Bolstering the Growth of the Market
The diverse applications of milk powder in the production of various packaged food and beverage products owing to its ease of use and versatility are contributing to its increased demand. Milk powder is used as a flavouring and thickening agent in the manufacturing of confectionery, baked goods, nutrition bars, and beverages, which are increasingly preferred by the working population. In addition, the availability of various milk powder types such as whole, skim, instant, and full cream milk powders, among others, is expected to support the market growth in the coming years.
The Asia Pacific to Provide Lucrative Growth Opportunities for the Market Expansion of Milk Powder
The Asia Pacific region is expected to account for a significant share of the global market for milk powder. This can be associated with the changing consumer lifestyles and the rising consumption of confectionery and baked goods in the region. Better economic conditions in emerging countries are further creating a huge demand for dried milk products. In addition, the heightened availability of these products across online platforms is also expected to contribute to the growth of the market in the forecast period, fuelled by the growing consumer preference for online shopping.
Market Segmentation
Milk powder refers to a dairy product which is made through the evaporation of milk. These powders provide a completely natural taste without sweetness. It offers a long shelf life, owing to the low moisture content.
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By product type, the market is divided into:
- Whole Milk Powder
- Skimmed Milk Powder
- Others
On the basis of function, the industry can be categorised into:
- Emulsification
- Foaming
- Flavouring
- Thickening
- Others
Based on application, the market can be segregated into:
- Infant Formula
- Confectionery
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Innovations and New Product Launches by the Leading Players to Augment the Market Growth of Milk Powder
The market is currently being driven by the heightened consumer demand for milk powder, owing to its numerous nutritional benefits, including a high quantity of calcium, protein, vitamin B12, and thiamine, among others. This can be associated with the growing consumer interest in health and fitness enhancement. In addition, the convenience of storage offered by milk powder, owing to its low moisture content and improved shelf-life, is anticipated to support the market growth. Also, the rising expenditure by the leading market players on the development of new and innovative milk powder products that provide various health benefits is also expected to support the market growth in the coming years. For instance, in December 2020, Nestlé S.A. announced the launch of a powdered milk beverage for adults and senior citizens under the YIYANG®Active brand in China. This product is a functional food that aims to enhance bone health, joint functioning, and muscle strength among individuals.
Key Players in the Global Milk Powder Market
The report gives a detailed analysis of the following key players in the global milk powder market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Nestlé S.A.
- Danone S.A.
- Fonterra Co-operative Group Limited
- Royal FrieslandCampina N.V.
- Saputo Inc.
- Arla Foods Amba
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Function |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Milk Powder Market Analysis
8.1 Key Industry Highlights
8.2 Global Milk Powder Historical Market (2018-2023)
8.3 Global Milk Powder Market Forecast (2024-2032)
8.4 Global Milk Powder Market by Product Type
8.4.1 Whole Milk Powder
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Skimmed Milk Powder
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Others
8.5 Global Milk Powder Market by Function
8.5.1 Emulsification
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Foaming
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Flavouring
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Thickening
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Milk Powder Market by Application
8.6.1 Infant Formula
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Confectionery
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Sports and Nutrition Foods
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Bakery Products
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Dry Mixes
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.6.6 Fermented Milk Products
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2018-2023)
8.6.6.3 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Milk Powder Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Nestlé S.A.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Danone S.A.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Fonterra Co-operative Group Limited
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Royal FrieslandCampina N.V.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Saputo Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Arla Foods Amba
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Milk Powder Market: Key Industry Highlights, 2018 and 2032
2. Global Milk Powder Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Milk Powder Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Milk Powder Historical Market: Breakup by Function (USD Million), 2018-2023
5. Global Milk Powder Market Forecast: Breakup by Function (USD Million), 2024-2032
6. Global Milk Powder Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Milk Powder Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Milk Powder Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Milk Powder Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Milk Powder Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Milk Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Milk Powder Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Milk Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Milk Powder Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Milk Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Milk Powder Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Milk Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Milk Powder Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Milk Powder Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Milk Powder Market Structure
Key Questions Answered in the Report
The major drivers of the market include the longer shelf life, presence of several nutrients, development of flavoured milk powder, increase in working population, increase in the consumption of processed and packaged food, and changes in consumer work and lifestyles.
The convenience in storage and transportation of milk powder and an increase in the use of milk powder in infant foods are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
On the basis of the product type, the global market for milk powder has been segmented as skimmed milk powder and whole milk powder, among others.
The major applications include infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, and fermented milk products, among others.
Emulsification, foaming, flavouring, and thickening, among others are the functions of the milk powder.
The major players in the industry are Nestle S.A., Danone S.A., Lactalis, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Saputo Inc., and Arla Foods Amba, among others.
Analyst Review
The global milk powder market was driven by the convenience in storage and transportation of milk powder. Aided by the presence of several nutrients and an increase in the use of milk powder in infant foods, the market is expected to witness further growth in the forecast period of 2024-2032.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of the product type, the global market for milk powder has been segmented as skimmed milk powder and whole milk powder, among others. The major applications include infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, and fermented milk products, among others. Emulsification, foaming, flavouring, and thickening, among others are the functions of the milk powder. The major regional markets for milk powder market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Nestle S.A., Danone S.A., Lactalis, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Saputo Inc., and Arla Foods Amba, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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