Milk Powder Market Synopsis

Milk Powder Market Size Was Valued at USD 36.68 Billion in 2023, and is Projected to Reach USD 53.12 Billion by 2032, Growing at a CAGR of 4.2% From 2024-2032.

Milk powder, or powdered milk, or dry milk, is a dairy product, which is obtained by the process of evaporating milk to dryness. This process entails the elimination of all the liquid content in milk with a view of obtaining a powdery substance that has all the nutritional benefits of fresh milk condensed in it. Cow’s milk and goat’s milk are the most commonly used type of milk to make milk powder, but other types such as soy milk and almond milk can also be processed into powder form.

•  The process of making milk powder usually involves heat treatment of fresh liquid milk to eliminate undesirable microorganisms. The milk is then evaporated under low pressure and low temperature to increase its concentration and at the same time retain the nutrients. After the milk has become thick enough it is spray-dried or roller-dried to remove any remaining moisture and to produce a fine powder. Spray drying takes the concentrated milk and sprays it into a heated chamber where it forms small particles and is collected. The other type of drying is roller drying where a thin layer of concentrated milk is put on a heated roller that dries and flakes off as powder.
•  Liquid milk has some disadvantages compared to milk powder. It has a much longer shelf life, thus, it can be stored and transported without having to be refrigerated. It is also more convenient and flexible to use since it can be reconstituted with water to make liquid milk whenever required. Milk powder is widely used in the food industry to produce several products including infant formula, confectionaries, bakery products and dairy based beverages. Furthermore, it is applied in emergency food rations and relief assistance because of its shelf stability and nutritional contribution such as protein, calcium, and vitamins to the needy population.

Milk Powder Market Trend Analysis

Growing preference for organic products

• The market of milk powder has observed the shift in demand towards organic products due to the rising health and environmental consciousness among the consumers. Organic milk powder is free from synthetic pesticides, fertilizers, and GMOs, which is what the consumers want: clean and organic food. This trend is supported by the growing concern with the methods of farming that are humane and environmentally friendly, and the concern with the quality of the food that is produced organically and without the use of chemicals.
•  Furthermore, the consumption of organic milk powder is also driven by the fact that conventional farming practices of milk production include the use of hormones and antibiotics in cattle, which may affect the health of consumers and the environment. Consumers consider organic milk powder as safer from residues of synthetic chemicals, antibiotics and artificial additives hence the attraction to the product. Besides, through the schemes of organic certification, consumers are assured of the authenticity and quality of the product, which in turn influences their preference towards the organic product in the milk powder segment.
•  When it comes to the current competition within the milk powder market, brands and manufacturers are gradually introducing more and more organic products into the market to meet the demands of the consumers. Apart from catering to a potentially profitable client base, this strategy is also in harmony with the overall societal shifts towards embracing environmentally friendly and socially responsible products. With the increasing awareness among the consumers, the market for organic milk powder is expected to grow in the future and the brands that focus on the organic farming and sustainability will have a chance to stand out.

Developing New Milk Powder Variants

• The market for milk powder offers a great opportunity for the production of new types of milk powder due to the changes in the consumers’ preferences and the improvements of the technologies used in the food processing industry. Milk powder is a product that has a long shelf life and can be used for home consumption as well as for use in the manufacturing industries in the production of other foods. New forms can be developed, for example, lactose-free, containing vitamins and minerals, organic, etc. , which will allow expanding the target audience. This diversification does not only improve consumer options but also targets specific markets that focus on certain health aspects or ethical issues.
•  Innovation in the milk powder variants also solves the increasing global trends in health consciousness and sustainability. For instance, protein fortified milk powders target the health conscious people and those who require protein in their diets. Also, creating versions that have less impact on the environment like using sustainable materials in sourcing or using environmentally friendly packaging is a way of appealing to the environmentally conscious customers. Such actions not only help to create competitive differentiation in the market but also correspond to the overall trends of changing people’s habits towards a healthier lifestyle and using environmentally friendly products.
•  In addition, technology is a key factor that influences the production of new milk powder types. Modern processing methods make it possible to preserve as many nutrients and flavorful compounds as possible, thus improving the quality and taste of the end product. Further, advancement in packaging and distribution helps in increasing the convenience and shelf life of the milk powder variants and thus, making it easily available to the consumers across the globe. Since firms are willing to spend on research and development to come up with new variants, they have an opportunity to capitalize on these opportunities to grow and gain market share in the evolving milk powder market.

Milk Powder Market Segment Analysis:

Milk Powder Market Segmented based on Type, and Application.

By Type, Whole Milk Powder (WMP) is expected to dominate the market during the forecast period

• The milk powder market is classified into SMP, WMP, FFMF, Dairy Whitener, and Other Milk Powder. Of these, the Whole Milk Powder (WMP) segment is the largest because of factors that boost its consumption and popularity across the world.
•  Whole Milk Powder contains all the nutrients that are found in whole milk such as fats, proteins, and carbohydrates and this makes it popular among consumers who want to get all the nutrients that are contained in milk. This type of milk powder is widely used in food and beverages industries in chocolates, confectionaries, and bakery products since the inclusion of milk fat improves the taste, texture, and quality of the products. Also, WMP is well demanded in areas where fresh milk is not easily available because it is easier to transport and has a longer shelf life thus guaranteeing a constant supply of milk nutrients.
•  The growth of demand for infant formula and dairy-based products in the emerging markets is one of the main reasons for the Whole Milk Powder segment’s dominance. These regions’ consumers are increasingly concerned about their health and are willing to purchase better quality dairy products for their children which has boosted the WMP consumption in infant nutrition. The segment’s expansion is further boosted by the versatility of the product in the dairy products such as yogurt, cheese, and milk beverages that meet the changing needs of consumers in the global market.
• The characteristic of Whole Milk Powder that could be stored for a long time and used in various products and various ways make it to be the most popular product among manufacturers and consumers. It is easy to store, has a longer shelf life than liquid milk and can be converted back to liquid milk whenever the need arises, making it very versatile in the kitchen. The food processing industry around the world uses WMP for functional properties such as emulsification, water binding, and flavor that are essential in the formulation and new product creation. Therefore, the strong demand in various application segments further strengthens the Whole Milk Powder segment’s position in the milk powder market.

By Applications, Infant Formulas segment held the largest share

• The Infant Formulas segment holds the largest share in the milk powder market because of its importance in the early development of children, parents’ increasing concern with their child’s health, and constant advancements in infant nutrition products.
• The Infant Formulas segment occupies a large share of the market because milk powder is one of the main components of an infant formula. Babies globally depend on infant formulas as their main food when breast feeding is not possible or inadequate. Infant’s nutritional requirements are very unique as they need a precise proportion of proteins, fats, vitamins and minerals which are available in milk powder. This has ensured that the segment grows and remains dominant due to the need to use milk powder to produce safe and nutritious infant formulas.
•  The rising consciousness of the global population regarding the need for proper nutrition for infants and the rising disposable income in the developing nations have significantly enhanced the consumption of the infant formulas. The choice of the type of food to feed an infant is becoming more informed and thus parents are opting for better quality, trusted infant formulas. Also, the existing and new government policies and schemes for child health and nutrition also help in the expansion of this segment. Therefore, there is a trend of manufacturers focusing on research and development to develop superior, high nutrient packed formulas to suit the growing demands of consumers, further enhancing the Infant Formulas segment.
• The constant advancement and improvement in the segment of infant nutrition have been the key to the segment’s success. Manufacturers are paying attention to the improvement of the nutritional value of the infant formulas through the addition of prebiotics, probiotics, and essential fatty acids. These innovations are designed to replicate the characteristics of natural breast milk in order to give the best nutrition for growth and development of the children. Due to the increased marketing and the development of the distribution channels by major players, these new generation infant formulas are easily accessible to consumers across the world, making the Infant Formulas segment the most dominant application in the milk powder market.

Milk Powder Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast Period

• North America region holds the largest market share in the milk powder market for the following reasons. First, the region enjoys the enhanced technologies and facilities in the processing of dairy products to milk powder. This technological edge guarantees quality and reliability in supply hence making North American milk powder to meet the international market standards.
•  The dairy industry in North America is backed up by strong agricultural policies and standards that enhance the production of dairy products. This regulatory framework creates consumer confidence and opens up export markets in areas that have high standards in food safety, thus adding to the strength of North America’s market.
• There is a long history of dairy farming in North America and the number of dairy farms is also high. This ensures that there is a constant supply of milk which is very important in the production of milk powder in large proportions. The opportunity to obtain raw milk and the existing capacities for its processing make North American dairy producers among the leaders to meet the global demand for milk powder.
•  In conclusion, North America continues to dominate the milk powder market due to its technology, regulation, and a strong dairy farming tradition that enables it to produce good quality milk powder at a relatively cheap price as compared to other countries.

Active Key Players in the Milk Powder Market

• Abbott Laboratories (USA)
• Amul (India)
• Arla Foods (Denmark)
• Bega Cheese Limited (Australia)
• Dairy Farmers of America (USA)
• Danone S.A. (France)
• Dean Foods (USA)
• Fonterra Co-operative Group (New Zealand)
• FrieslandCampina (Netherlands)
• Glanbia Plc (Ireland)
• Lactalis Group (France)
• Land O'Lakes, Inc. (USA)
• Meiji Holdings Co., Ltd. (Japan)
• Mengniu Dairy (China)
• Morinaga Milk Industry Co., Ltd. (Japan)
• Murray Goulburn Co-operative Co. Limited (Australia)
• Nestlé S.A. (Switzerland)
• Royal DSM (Netherlands)
• Saputo Inc. (Canada)
• Yili Group (China)
• Other Key Players

Key Industry Developments in the Mutual Fund Assets Market:

• In January 2024, The Indian company that markets Amul and Sagar brands, GCMMF launched Sagar Skimmed Milk across the country. Sagar is a very old brand of GCMMF for milk powder and ghee The product mix of GCMMF is as follows: Sagar skimmed milk powder is the largest-selling skimmed milk powder in India and now it is also getting into the fresh skimmed milk segment.
• In October 2023, Nestlé launched a new product, an instant powder to the central and west African market. It is the first one it made that is cheap and at the same time healthy for individuals to engage in. The company added soy from farms to the milk to make it even healthier for the people to consume. Some of the significant components of this powder include protein, fibre, iron, and calcium.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Milk Powder Market by Type
 4.1 Milk Powder Market Snapshot and Growth Engine
 4.2 Milk Powder Market Overview
 4.3 Skimmed Milk powder
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Skimmed Milk powder: Geographic Segmentation Analysis
 4.4 Whole Milk Powder
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Whole Milk Powder: Geographic Segmentation Analysis
 4.5 Filled Milk Powder
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Filled Milk Powder: Geographic Segmentation Analysis
 4.6 Dairy Whitener
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Dairy Whitener: Geographic Segmentation Analysis
 4.7 Others
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Others: Geographic Segmentation Analysis

Chapter 5: Milk Powder Market by Use Case
 5.1 Milk Powder Market Snapshot and Growth Engine
 5.2 Milk Powder Market Overview
 5.3 Bakery & Confectionary
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Bakery & Confectionary: Geographic Segmentation Analysis
 5.4 Nutritional Food
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Nutritional Food: Geographic Segmentation Analysis
 5.5 Infant Formulas
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Infant Formulas: Geographic Segmentation Analysis
 5.6 Others
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Others: Geographic Segmentation Analysis

Chapter 6: Company Profiles and Competitive Analysis
 6.1 Competitive Landscape
  6.1.1 Competitive Benchmarking
  6.1.2 Milk Powder Market Share by Manufacturer (2023)
  6.1.3 Industry BCG Matrix
  6.1.4 Heat Map Analysis
  6.1.5 Mergers and Acquisitions
  
 6.2 ABBOTT LABORATORIES (USA)
  6.2.1 Company Overview
  6.2.2 Key Executives
  6.2.3 Company Snapshot
  6.2.4 Role of the Company in the Market
  6.2.5 Sustainability and Social Responsibility
  6.2.6 Operating Business Segments
  6.2.7 Product Portfolio
  6.2.8 Business Performance
  6.2.9 Key Strategic Moves and Recent Developments
  6.2.10 SWOT Analysis
 6.3 AMUL (INDIA)
 6.4 ARLA FOODS (DENMARK)
 6.5 BEGA CHEESE LIMITED (AUSTRALIA)
 6.6 DAIRY FARMERS OF AMERICA (USA)
 6.7 DANONE S A (FRANCE)
 6.8 DEAN FOODS (USA)
 6.9 FONTERRA CO-OPERATIVE GROUP (NEW ZEALAND)
 6.10 FRIESLANDCAMPINA (NETHERLANDS)
 6.11 GLANBIA PLC (IRELAND)
 6.12 LACTALIS GROUP (FRANCE)
 6.13 LAND O'LAKES
 6.14 INC (USA)
 6.15 MEIJI HOLDINGS CO LTD (JAPAN)
 6.16 MENGNIU DAIRY (CHINA)
 6.17 MORINAGA MILK INDUSTRY CO LTD (JAPAN)
 6.18 MURRAY GOULBURN CO-OPERATIVE CO LIMITED (AUSTRALIA)
 6.19 NESTLÉ S A (SWITZERLAND)
 6.20 ROYAL DSM (NETHERLANDS)
 6.21 SAPUTO INC (CANADA)
 6.22 YILI GROUP (CHINA)
 6.23 OTHER ACTIVE PLAYERS

Chapter 7: Global Milk Powder Market By Region
 7.1 Overview
 7.2. North America Milk Powder Market
  7.2.1 Key Market Trends, Growth Factors and Opportunities
  7.2.2 Top Key Companies
  7.2.3 Historic and Forecasted Market Size by Segments
  7.2.4 Historic and Forecasted Market Size By Type
   7.2.4.1 Skimmed Milk powder
   7.2.4.2 Whole Milk Powder
   7.2.4.3 Filled Milk Powder
   7.2.4.4 Dairy Whitener
   7.2.4.5 Others
  7.2.5 Historic and Forecasted Market Size By Use Case
   7.2.5.1 Bakery & Confectionary
   7.2.5.2 Nutritional Food
   7.2.5.3 Infant Formulas
   7.2.5.4 Others
  7.2.6 Historic and Forecast Market Size by Country
   7.2.6.1 US
   7.2.6.2 Canada
   7.2.6.3 Mexico
 7.3. Eastern Europe Milk Powder Market
  7.3.1 Key Market Trends, Growth Factors and Opportunities
  7.3.2 Top Key Companies
  7.3.3 Historic and Forecasted Market Size by Segments
  7.3.4 Historic and Forecasted Market Size By Type
   7.3.4.1 Skimmed Milk powder
   7.3.4.2 Whole Milk Powder
   7.3.4.3 Filled Milk Powder
   7.3.4.4 Dairy Whitener
   7.3.4.5 Others
  7.3.5 Historic and Forecasted Market Size By Use Case
   7.3.5.1 Bakery & Confectionary
   7.3.5.2 Nutritional Food
   7.3.5.3 Infant Formulas
   7.3.5.4 Others
  7.3.6 Historic and Forecast Market Size by Country
   7.3.6.1 Bulgaria
   7.3.6.2 The Czech Republic
   7.3.6.3 Hungary
   7.3.6.4 Poland
   7.3.6.5 Romania
   7.3.6.6 Rest of Eastern Europe
 7.4. Western Europe Milk Powder Market
  7.4.1 Key Market Trends, Growth Factors and Opportunities
  7.4.2 Top Key Companies
  7.4.3 Historic and Forecasted Market Size by Segments
  7.4.4 Historic and Forecasted Market Size By Type
   7.4.4.1 Skimmed Milk powder
   7.4.4.2 Whole Milk Powder
   7.4.4.3 Filled Milk Powder
   7.4.4.4 Dairy Whitener
   7.4.4.5 Others
  7.4.5 Historic and Forecasted Market Size By Use Case
   7.4.5.1 Bakery & Confectionary
   7.4.5.2 Nutritional Food
   7.4.5.3 Infant Formulas
   7.4.5.4 Others
  7.4.6 Historic and Forecast Market Size by Country
   7.4.6.1 Germany
   7.4.6.2 UK
   7.4.6.3 France
   7.4.6.4 Netherlands
   7.4.6.5 Italy
   7.4.6.6 Russia
   7.4.6.7 Spain
   7.4.6.8 Rest of Western Europe
 7.5. Asia Pacific Milk Powder Market
  7.5.1 Key Market Trends, Growth Factors and Opportunities
  7.5.2 Top Key Companies
  7.5.3 Historic and Forecasted Market Size by Segments
  7.5.4 Historic and Forecasted Market Size By Type
   7.5.4.1 Skimmed Milk powder
   7.5.4.2 Whole Milk Powder
   7.5.4.3 Filled Milk Powder
   7.5.4.4 Dairy Whitener
   7.5.4.5 Others
  7.5.5 Historic and Forecasted Market Size By Use Case
   7.5.5.1 Bakery & Confectionary
   7.5.5.2 Nutritional Food
   7.5.5.3 Infant Formulas
   7.5.5.4 Others
  7.5.6 Historic and Forecast Market Size by Country
   7.5.6.1 China
   7.5.6.2 India
   7.5.6.3 Japan
   7.5.6.4 South Korea
   7.5.6.5 Malaysia
   7.5.6.6 Thailand
   7.5.6.7 Vietnam
   7.5.6.8 The Philippines
   7.5.6.9 Australia
   7.5.6.10 New Zealand
   7.5.6.11 Rest of APAC
 7.6. Middle East & Africa Milk Powder Market
  7.6.1 Key Market Trends, Growth Factors and Opportunities
  7.6.2 Top Key Companies
  7.6.3 Historic and Forecasted Market Size by Segments
  7.6.4 Historic and Forecasted Market Size By Type
   7.6.4.1 Skimmed Milk powder
   7.6.4.2 Whole Milk Powder
   7.6.4.3 Filled Milk Powder
   7.6.4.4 Dairy Whitener
   7.6.4.5 Others
  7.6.5 Historic and Forecasted Market Size By Use Case
   7.6.5.1 Bakery & Confectionary
   7.6.5.2 Nutritional Food
   7.6.5.3 Infant Formulas
   7.6.5.4 Others
  7.6.6 Historic and Forecast Market Size by Country
   7.6.6.1 Turkey
   7.6.6.2 Bahrain
   7.6.6.3 Kuwait
   7.6.6.4 Saudi Arabia
   7.6.6.5 Qatar
   7.6.6.6 UAE
   7.6.6.7 Israel
   7.6.6.8 South Africa
 7.7. South America Milk Powder Market
  7.7.1 Key Market Trends, Growth Factors and Opportunities
  7.7.2 Top Key Companies
  7.7.3 Historic and Forecasted Market Size by Segments
  7.7.4 Historic and Forecasted Market Size By Type
   7.7.4.1 Skimmed Milk powder
   7.7.4.2 Whole Milk Powder
   7.7.4.3 Filled Milk Powder
   7.7.4.4 Dairy Whitener
   7.7.4.5 Others
  7.7.5 Historic and Forecasted Market Size By Use Case
   7.7.5.1 Bakery & Confectionary
   7.7.5.2 Nutritional Food
   7.7.5.3 Infant Formulas
   7.7.5.4 Others
  7.7.6 Historic and Forecast Market Size by Country
   7.7.6.1 Brazil
   7.7.6.2 Argentina
   7.7.6.3 Rest of SA

Chapter 8 Analyst Viewpoint and Conclusion
8.1 Recommendations and Concluding Analysis
8.2 Potential Market Strategies

Chapter 9 Research Methodology
9.1 Research Process
9.2 Primary Research
9.3 Secondary Research