Whole Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Whole Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview 2023-2028:

The global whole milk powder market size reached 6.2 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 7.5 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

Whole milk powder is derived by removing water from fresh pasteurized, homogenized, or non-homogenized milk through evaporation or spray-drying. It can also be manufactured by blending fluid, condensed, or non-fat dry milk with liquid or dry cream. It is characterized by a creamy flavor, light cream color, and pleasing taste. Its moisture is removed, which further assists in inhibiting microbial growth and providing the same nutritional properties as regular milk. Moreover, as it is easy to handle, store, and disperse in water, has a long shelf-life, and provides a cost-efficient source of milk fats, it is widely utilized in manufacturing a wide range of food products.

Whole Milk Powder Market Trends:

The flourishing food and beverage (F&B) industry represents one of the significant drivers positively influencing the use of whole milk powder in recombined milk, baby food and infant formulas, and energy foods, beverages, and toppings. In addition, the escalating demand for baby food and infant formulas on account of the busy lifestyle of working parents and their rising concerns about the overall development of their children is contributing to the market growth. Apart from this, whole milk powder is widely utilized as a source of non-fat milk solids in baked and confectionery goods. This, along with the growing popularity of milk powder in regions with low availability of milk and the introduction of organic and lactose-free variants, is strengthening the market growth. Besides this, manufacturers are offering vitamin-fortified whole milk powder for direct use in milk beverages, yogurt, coffee, and tea whitener. Furthermore, the easy availability of different product flavors in instant, organic, and low-fat variants through e-commerce channels is impelling the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global whole milk powder market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on end use.

Breakup by End Use:

Dairy
Infant Formulae
Bakery
Confectionery
Others

Dairy represents the largest end use sector of whole milk powder due to the escalating demand for milk-based products across the globe.

Breakup by Region:

New Zealand
China
European Union
Brazil
Argentina
Others

China currently accounts for the majority of the total market share on account of the increasing consumption of immunity-boosting products post COVID-19 outbreak.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Lactalis International, Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., and Danone S.A.

The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the whole milk powder industry. This ranges from macro overview of the market to micro details of the industry performance, manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the whole milk powder industry in any manner.

Key Questions Answered in This Report:

What is the market size for the global whole milk powder market?
What is the global whole milk powder market growth?
What are the global Whole milk powder market drivers?
What are the major trends in the global whole milk powder market?
What is the impact of COVID-19 on the global whole milk powder market?
What is the global whole milk powder market breakup by end use?
What are the major regions in the global whole milk powder market?
Who are the key companies/players in the global whole milk powder market?