Global Milk Powder Market is expected to grow steadily at CAGR of 3.8% in the Forecast Period of 2021-2026
The global milk powder market is driven by factors such as the increased usage of milk powder in infant foods and the inclusion of many nutrients such as vitamin C, vitamin B12, thiamin, and high levels of protein.
The new report by Expert Market Research titled, ‘Global Milk Powder Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global milk powder market, assessing the market based on its segments like product type, function, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2021-2026)
- Forecast CAGR (2021-2026): 3.8%
The global milk powder market is driven by factors such as the increased usage of milk powder in infant foods and the inclusion of many nutrients such as vitamin C, vitamin B12, thiamin, and high levels of protein. Furthermore, lower storage and shipping costs propel the milk powder market forward. However, the inclusion of preservatives, adulteration, and tight infant food restrictions limit the expansion of the milk powder business. The development of flavoured milk powder has created new business potential.
Industry Definition and Major Segments
Milk powder is a dairy product created from the evaporation of milk. They have a perfectly natural flavour that is devoid of sweetness. Because of the low moisture content, it has a longer shelf life.
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Based on product type, the market is bifurcated into:
- Whole Milk Powder
- Skimmed Milk Powder
Based on function, the market is categorised into:
Based on application, the market is divided into:
- Infant Formula
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
The regional markets for global milk powder:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The Asia-Pacific milk powder market is being pushed by changing lifestyles, which are being driven by globalisation and a rise in the working population. The rise in the region's affluent population, as well as the increased penetration of the internet and social media, pushes the consumption of processed and packaged food, paving the way for packaged goods. The milk powder market in LAMEA is rapidly expanding as a consequence of changes in consumer work and lifestyles, which has pushed individuals in the region to begin relying on packaged food items. Furthermore, increased consumption of newborn formulae has increased demand for milk powder in the region.
Key Market Players
The major players in the market are Nestlé S.A, Danone S.A, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V, Saputo Inc, Arla Foods Amba, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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