The Milk Powder Market is projected to grow significantly, with its market size expected to rise from US$ 32.19 Billion in 2023 to US$ 44.96 Billion by 2030, driven by a CAGR of 4.89% between 2024 and 2030, according to Renub Research. This growth is underpinned by rising urbanization, increasing awareness of the nutritional benefits of dairy products, and versatile applications across industries. Below is an overview of the market's key insights, trends, and growth drivers.
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Overview of Milk Powder
Milk powder is a dried form of pasteurized milk, available in various types such as whole milk powder, skimmed milk powder, and non-dairy milk powders. Its longer shelf life and ease of transportation make it an essential product in areas where fresh milk is scarce. Key applications include:
- Infant Formulas
- Confectionery Products (e.g., chocolates, candies)
- Baking Ingredients
- Food and Beverage Additives
Key Market Growth Drivers
- Dietary Advantages and Convenience
The demand for shelf-stable dairy products is fueled by fast-paced urban lifestyles and awareness of the nutritional benefits of dairy. Milk powder serves as a convenient solution in regions with limited access to fresh milk, especially in emerging markets. - Multiple Industry Applications
Milk powder is widely used across industries in products like ice cream, yogurt, baked goods, soups, and sauces. Nutritionally enhanced milk powders fortified with calcium, iron, and vitamins are growing in popularity. - Global Advocacy for Dairy Consumption
Initiatives like World Milk Day by FAO and nutrition campaigns by NIH emphasize the importance of dairy in a balanced diet, driving consumer preference for milk products. - Innovative Product Launches
Companies like Nestlé and Danone are introducing affordable and fortified milk powder products tailored to diverse demographics. For example:
- Nestlé's N3 Milk Powder (2023) in China, fortified with essential nutrients.
- Danone's Plant-Based and Dairy Blend in Australia and New Zealand.
United States Milk Powder Market Insights
The U.S. is a leading player in the milk powder market, leveraging its strong infrastructure, ample milk supply, and robust R&D initiatives. According to the USDA:
- Skim milk powder production in the U.S. is projected to reach 1.30 million tons in 2024, marking an 11% increase from 2023 levels.
- Exports are expected to grow by 3%, driven by demand recovery in price-sensitive Asian markets.
The narrowing price gap between the U.S. and the EU is anticipated to enhance the competitiveness of U.S. milk powder in global markets.
Market Segmentation
By Type
- Whole Milk Powder
- Skimmed Milk Powder
- Dairy Whitener Powder
- Buttermilk Powder
- Fat-Filled Milk Powder
By Application
- Nutritional Food
- Infant Formulas
- Confectionaries
- Baked Sweets
- Savories
By Geography
- North America (U.S., Canada)
- Europe (Germany, UK, France, etc.)
- Asia-Pacific (China, India, Japan, etc.)
- Latin America (Brazil, Mexico, etc.)
- Middle East & Africa
Competitive Landscape
Key Players
- Nestlé (Switzerland)
- Danone
- Arla Foods amba
- Saputo Inc.
- The Kraft Heinz Company (U.S.)
- Ausnutria Dairy Corporation Ltd. (Netherlands)
Recent Developments:
- Nestlé's N3 Milk Powder Launch in China (November 2023).
- Danone's Affordable Cow & Gate Follow-On Milk Powder (November 2023).
- Arla Foods’ Probiotic-Enhanced Powder Formulas (2023).
Related Report :
United States Milk Powder Market
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