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The global non-fat dry milk market size reached approximately USD 9.21 billion in 2023. The market is further projected to grow at a CAGR of 3.3% between 2024 and 2032, reaching a value of USD 12.34 billion by 2032.
Non-fat dry milk is a dairy product manufactured by drying the milk into powder form and eliminating its fat content. It offers various health advantages to the consumer and has low moisture content. It increases the protein content of various dishes while enhancing their flavour and texture.
On the basis of type, the market is divided into high heat, medium heat, and low heat. Based on end-use, the market is bifurcated into residential and commercial. On the basis of distribution channel, the market is classified into offline and online. Based on region, the non-fat dry milk market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Online distribution channels are expected to account for a significant non-fat dry milk market share owing to the availability of home delivery, large discounts, and presence of different brands. Moreover, shopping across online distribution channels eliminates the hassle of waiting in long queues for checking out. The longer opening hours provides convenience to the working professionals who might be too occupied during the day by allowing them to shop for non-fat dry milk at any time of the day.
North America is anticipated to account for a significant share of the market owing to the strong presence of various major market players in the region. The non-fat dry milk market demand is also increasing due to its versatile nature and several applications of the product in food and beverages sector. Increased incorporation of non-fat and low-fat products in diets due to rising health consciousness is further supporting the market expansion in North America.
Nestlé S.A. was founded in 1866 and is headquartered in Vaud, Switzerland. The food and beverage manufacturing company specialises in production of non-fat dry milk, soft drinks, infant nutrition, and frozen food, among others.
NOW Health Group, Inc. is involved in the distribution and manufacture of natural foods, dietary supplements, non-fat dry milk, personal care products, and sports nutrition. The company was founded in 1968 and is headquartered in Illinois, United States.
All American Foods Inc. is one of the leading manufacturers of non-dairy and dairy food ingredients, including non-fat dry milk for human consumption. The company was founded in 1987 and is headquartered in Minnesota, United States.
Other non-fat dry milk market key players include Augason Farms, Bluegrass Ingredients, Inc., California Dairies, Inc., Bob's Red Mill Natural Foods, Inc., HOCHDORF Holding Ltd, and Target Corporation (Good & Gather), among others.
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 Type |
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Breakup by End-Use |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 9.21 billion in 2023.
The market is projected to grow at a CAGR of 3.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 12.34 billion by 2032.
The major market drivers include increasing awareness about the nutritional value of the product and increased adoption by food and beverage sector.
The key trends fuelling the growth of the market include rising utilisation in the production of baked goods and increasing availability across different distribution channels.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant milk types include high heat, medium heat, and low heat.
The key players in the market are Nestlé S.A., NOW Health Group, Inc., All American Foods Inc., Augason Farms, Bluegrass Ingredients, Inc., California Dairies, Inc., Bob's Red Mill Natural Foods, Inc., HOCHDORF Holding Ltd, and Target Corporation (Good & Gather), among others.
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