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, rendered as powdered milk or dry milk, is a dairy product that is produced by evaporating milk to dryness. It involves the removal of all the liquid component in milk with an aim of getting a powdered product that contain all the nutritive characteristics of fresh milk in a single product. Milking came from cows and goats though others such as soy, almond milk among others are also processed into milk powder.

• In the preparation of milk powder, fresh liquid milk is often subjected to heat treatment so as to remove unwanted microorganisms . The milk is then heat evaporated at low pressure and low temperature in order to thicken the milk and at the same time preserving its nutrients. When milk has thickened to a set consistency it is spray-dried or roller-dried in order to eliminate remaining moisture and produce a fine powder. Spray drying involves feeding the concentrated milk to a spraying device that distributed it into a heated chamber where it forms small particles. The other method of drying is roller drying, where a thin layer of concentrated milk is spread on a heated roller that evaporates the moisture and the formed layer of powder flakes off.
• However, milk in liquid form is not excellent as milk powder in terms of the following factors. It has a much longer shelf life, therefore, it may be stocked and transported without the need for refrigerant. It is also easy to manage and flexible and you can easily make liquid milk solution by adding water to the powdered form as when required. Nickel is utilized in the manufacture of food products such as infant formula, confectionaries, bakery products as well as in production of milk powder based dairy products. In addition, it is used in the production of emergency food rations and relief aid food due to its shelf stability as well as nutritional value added such as protein, calcium and vitamins to the targeted needy population.

Milk Powder Market Trend Analysis

Growing preference for organic products

• The market of milk powder has witnessed this change in customer behavior in regard to preference for organic products because of the changing health and environmentally conscious customer base. Organic milk powder is free from synthetic pesticides, fertilizers, and GMOs, which is what the consumers want: clean and organic food. This trend is well supported by the increasing interest in humane and green farming techniques, as well as, excellent quality food produced with little or no chemicals.
• Moreover, organic milk powder is consumed due to the fact that many farmers resort to conventional method of milk production, using hormones and antibiotics on the cattle which may harm consumers’ health and the general environment as well. This may be perceived as safer from residues of synthetic chemicals, antibiotics ad artificial additives hence the pull towards the organic milk powder product. Apart from it, by the schemes of organic certification, consumers are secured with the genuine and superior quality product which in turn creates demand for the organic product in the milk powder segment.
• As for the latest contest in the milk powder market, brands and manufacturing companies are slowly and gradually entering the more new products in the organic food supply to cater the demands of the users. Besides, this approach can effectively be aimed at a potentially lucrative audience, as well as conform with the generally beneficial towards the society principles of the green and sustainable consumption. The consumers have become more aware of what they are consuming, and this means that the market for organic milk powder will grow in future, especially the brands, which are into organic farming and sustainability.

Developing new milk powder variants

• New types of milk powder can be produced in the market for milk powder because there is a realization of the changes in consumers’ preferences and in the various technologies used in the food processing industries. Milk powder is a long lasting product that can be consumed directly by the people at homes and also in the manufacturing industry in the preparation of other foods. New kinds can be created for example lactose-free, vitaminised, mineralised, organic, etc., which will help expand the audience of consumers. This diversification does not only expand consumers choice but also on selected markets that are health concerned or ethical in nature.
• Even the innovation in the milk powder variants responds to growing what has become the global concerns – health diseases and sustainability. For example, protein-fortified milk powders are marketed to those personal who need proteins in their everyday diets, especially working individuals, athletes and those people who are conscious about their figure. Similarly, developing versions that are somewhat friendly on the environment such as getting raw materials from sustainable sources or packaging in a friendly manner that does not affect the environment is a sure way of marketing to the green customer. The actions associated with the implementation of measures that make sense in competitive differentiation in the marketplace are also appropriate in the framework of extrapolating general trends in people’s behavior towards a healthier lifestyle and the use of environmentally friendly products.
• Secondly, an important role is played by technology, which defines the creation of new types of milk powder. The newer ways in processing let him to retain as many nutrients and flavorful compounds as it can and so enhancing the quality and taste of the final product. In addition, enhancement of packaging and distribution facilities also facilitates enhancing accessibility and storage of the milk powder variants and hence the convenience for consumers globally. Because companies are willing to invest in research and development to obtain improved variants of their products they will have a chance to benefit from such opportunities and gain additional market share in the changing milk powder market.

Milk Powder Market Segment Analysis:

Milk Powder Market is segmented based on Type, and Application.

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

• The market of milk powder is segmented into Specialized Milk Powder, Whole Milk Powder, Fat Filled Milk Food, Dairy Whitener, and Other Milk Powder. Among these, the Whole Milk Powder (WMP) is the biggest one due to the factors that increase the demand and thus popularity of this product in the given world market.
• Whole Milk Powder, has all that is in whole milk and these include fats, proteins, and carbohydrates and this makes it be famous among consumers who wish to get all what they find in milk. This type of milk powder is most demanded in food and beverages industries in chocolates, confectionaries and bakery products because the addition of milk fat enhances the taste, texture and quality of the products. Also WMP is well demanded in places where fresh milk is a rarity mainly because of the problem of perishability and the constant problem of supply which is eased by the extended shelf life of WMP.
• The Emerging marketDemand for the Infant Formula and dairy based products is one of the primary factors which cumulatively control the Whole Milk Powder segment. The consumers of these regions are becoming more conscious of their health, and are willing to spend more for better quality WMP for their children’s nutritional needs thereby increasing the consumption of WMP in infant nutrition. The expansion of the segment is further supported by the product’s adaptability to the dairy products such as yogurts, cheese and milk based beverages due to customer needs in the global market.
• Lastly, Whole Milk Powder, a product that can be stored for longer time and applied to various products and in numerous ways was considered to be the most preferred brand among manufacturers as well as the consumers. Storing it is very convenient; lasts longer than liquid milk, and can be turned back to liquid milk any time; which makes it very handy in the kitchen. In food processing applied around the world, WMP is used for functional proprieties like emulsifying, water-binding, and flavor in formulation and new product development. Hence, the high demand for different application segments underscores the Whole Milk Powder segment’s dominance even within the milk powder market.

By Applications, Infant Formulas segment held the largest share

• Infant Formulas is the largest segment of the milk powder market because of the part it plays within the developmental stages of children, parents’ concern for their child’s health, and advancement of infant formulation.
• The Infant Formulas is a very large segment of the market because milk powder is an ingredient that is used in the preparation of an infant formula. Infant formulas are the babies’ major source of nutrition in situations where breast feeding is not feasible or when it is not sufficient. When it comes to nutrition, the infant’s needs are extremely specific as they require specific proportion of proteins, fats, vitamins and minerals, which are available in milk powder. This has helped the segment to develop and to remain the most dominant because the milk powder has to be used to prepare safe and nutritious baby formulas.
• The awareness among the people of the world population for the need to provide good nutrition for the infants and the increase in the level of disposable income earned by the people in the developing countries are some of the factor that has boosted up the consumption of the infant formulas. The decision as to what type of food to give your baby is becoming much more educated and as such parents are choosing far superior, more reliable infant formulas. Also, the prevailing and fresh government policies and programs related to child health and nutrition also contribute to the expansion of this segment. Hence, there is a tendency among the manufacturers to invest in research and innovation, bringing better, heigh nutrient dense formulas to meet the rising customers’ needs, which will help boost the growth of the Infant Formulas segment.
• This has been the secret to the constant growth and development of the segment of infant nutritional products. For added value of the manufacturers in the production of the infant formulas there is a concern of the nutritional value by including prebiotics, probiotics and essential fatty acids to the formulas. These are innovations meant to mimic natural breast milk so as to provide the best form of nourishment for growth of the children. Many producers have increased their marketing strategies and the key players have under taken the development of these distribution channels which make the new generation infant formulas easily available to the consumers all over the world and hence the Infant Formulas segment is the most dominant application of the milk powder market.

Milk Powder Market Regional Insights:

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

• North America region has a largest market share in milk powder market due to the following reasons. First, the region derives the improved technologies and infrastructure in the production of dairy products from milk powder. This technological vantage ensures supply quality and reliability therefore making North American milk powder to fit the international market requirements.
• The dairy industry in North America enjoys good agricultural policies and qualities which help in the production of dairy products. This government structure generates consumer confidence and renders export opportunities in the areas that practice a high hygienic level in food safety, making contribution to the market strength of North America.
• Dairy farming has a history in North America and the number of dairy farms known is also large. This is sure that there is great supply of milk that has been very vital in the production of a large proportions in milk powder. The possibility to receive raw milk and the existent potentialities of its processing place North American dairy producers among the leaders to fulfil the world’s need in milk powder.
• Finally, North America region remains the leading producer of milk powder leveraging on its technology, regulation and favorable tradition of dairy farming to produce quality milk powder at a cheaper 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, fiber, 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