Market Size of Milk Powder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.86 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Milk Powder Market Analysis
The Global Milk Powder Market is projected to record a CAGR of 3.86% over the next five years.
Milk powder is consumed globally, owing to several nutrients, such as vitamin B12, thiamin, and high amounts of protein, driving the global milk powder market. Moreover, milk powder's shelf life is higher than regular milk, leading to increased demand for milk powder over regular milk. Furthermore, skim milk powder is a natural and rich source of proteins. It is also a good source of calcium and is rich in other essential minerals such as selenium, phosphorous, magnesium, potassium, and zinc. It is also low in cholesterol and aids in weight loss, making it ideal for usage by customers suffering from heart disease and obesity. Thus, the global skim milk powder market is expected to project growth.
Consumption of whole milk powder and skimmed milk powder increased as the number of middle-class customers, household incomes, and health consciousness among consumers increased, driving the market growth. Additionally, as of 2022, according to a Maxum Foods analysis, the conflict in Ukraine, the extreme weather, and the rising living cost for consumers continue to impact dairy commodities. The prices of dairy products are anticipated to remain high in the European Union. However, the war caused panic buying and stockpiling various grocery items, especially those with increased shelf life, like milk powder. Supply-side restrictions are anticipated to exist in the upcoming months due to the war in Ukraine keeping the price of dairy products, corn, grain, and fertilizer relatively high.
Milk Powder Industry Segmentation
Milk powder is a dried dairy product that is prepared by evaporating milk. One reason for drying milk is to preserve it. Milk powder includes a much longer shelf life than liquid milk and, due to its low moisture content, does not need to be refrigerated. The market studied is segmented by type, distribution channel, and geography. The market studied is segmented into dairy and non-dairy milk powder by type. The distribution channel segments the milk market into hypermarkets/supermarkets, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Type | |
| Dairy Milk Powder | |
| Non-Dairy Milk Powder |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Online Retail Stores | |
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Milk Powder Market Size Summary
The global milk powder market is experiencing steady growth, driven by its nutritional benefits and extended shelf life compared to regular milk. Milk powder is rich in essential nutrients such as vitamin B12, thiamin, and protein, making it a popular choice among health-conscious consumers. The demand for skim milk powder, in particular, is rising due to its low cholesterol content and potential benefits for weight management and heart health. The market is also influenced by increasing middle-class consumption, higher household incomes, and a growing awareness of health and wellness. However, external factors such as geopolitical conflicts, extreme weather conditions, and rising living costs are impacting dairy commodity prices, particularly in the European Union, where supply-side restrictions are expected to persist.
The Asia-Pacific region is emerging as a dominant force in the milk powder market, fueled by lifestyle changes, globalization, and a growing working population. Advances in processing and shipping technologies, along with lower transportation costs and export subsidies, are further propelling market growth in this region. The global market is characterized by fragmentation, with numerous domestic and multinational players competing for market share. Companies are focusing on new product launches, particularly those with natural or organic claims, and are investing in fortified milk powders to offer additional nutrients. Key players in the market include Nestlé S.A, Arla Foods, Fonterra Co-Operative Group, and NOW Foods, among others, who are actively expanding production capacities and exploring economies of scale to enhance profitability.
Milk Powder Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Dairy Milk Powder
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2.1.2 Non-Dairy Milk Powder
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 South Africa
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2.3.5.2 United Arab Emirates
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2.3.5.3 Rest of Middle-East and Africa
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Milk Powder Market Size FAQs
What is the current Milk Powder Market size?
The Milk Powder Market is projected to register a CAGR of 3.86% during the forecast period (2024-2029)
Who are the key players in Milk Powder Market?
Nestle SA, Gujarat Cooperative Milk Marketing Federation (Amul), Arla Foods amba, Fronterra Co-operative Group and NOW Foods are the major companies operating in the Milk Powder Market.
