Milk Powder Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Milk Powder Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global milk powder market is projected to grow at a CAGR of 3.86% during the forecast period (2021 - 2026).

Milk powder is consumed globally, owing to the presence of several nutrients, such as, vitamin B12, thiamin, and high amounts of protein which is driving the global milk powder market. Moreover, the shelf life of milk powder is higher than the regular milk, which further leads to the increased demand for milk powder over regular milk.

Europe is expected to maintain the highest market share whereas Asia-Pacific is expected to grow rapidly in recent years. This is attributed to the changing lifestyles and increase in the penetration of internet and social media which is driving the consumption of processed and packaged food. This, in turn, is driving the milk powder market.

Key Market TrendsIncreasing Health Concern Catalysing the Milk Powder Market

The development of advanced technologies in milk powders, which helps to retain the nutrient content of milk even after the drying process and also consists of very trace amounts of fat which in turn makes it low in calorie content, is driving the attention of the people towards the consumption of milk powder. This helps people to lose or maintain weight and also aids in promoting a healthy heart. Furthermore, being a rich source of complete proteins, which helps in building and maintaining lean muscles, its consumption has also increased among athletes. According to a study by FAO, 2019, the countries, such as China, Mexico, Egypt, and Indonesia have increased their import demand of skimmed milk powder from the United States, Europe, and Mexico and the global milk powder exports have increased by 8.6% during 2018 as compared to the previous year. Owing to the factors above, the consumption of milk powder has increased which calls for increased dependence on exports.

Europe as a Global Player in the Dairy Trade

World milk prices and milk imports are affecting the functioning of domestic markets in developing countries. Improvements in processing and shipping technology, reduction in transport costs and the use of export subsidies have promoted international trade in milk powder and encouraged its rise, although to a lower level than meat. Developing countries, such as India and China and even the African countries rely on Europe for milk powder imports. The share of China in EU exports has slightly diminished, with the US, Hong Kong, and Saudi Arabia following in the ranking in milk powder exports. There is a huge potential for the growth of the milk powder market in developing countries, such as Asia-Pacific as various emerging economies such as China, India, and Japan are majorly importing milk powders to meet their growing dairy needs. However, in South America, the Middle East, and Africa regions, the market is highly dominated by Danone.

Competitive Landscape

The global milk powder is moderately fragmented with a large number of domestic and multinational players competing for market share. Companies are focusing on new product launches with natural or organic claims as to their key marketing strategy. Major players include - Nestlé S.A, Arla Foods, Fonterra Co-Operative Group, NOW Foods amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Nestle SA
Fonterra Co
operative Group
NOW Foods
Arla Foods amba
DANA DAIRY GROUP
Royal Friesland Campina N.V
Essona Organics
Gujarat Cooperative Milk Marketing Federation (Amul)

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