Milk Powder Market Size Forecast Report 2024-2032

• Posted by Renub Research Oct 29 Filed in Arts & Culture #Milk Powder Market  16 views
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  Milk Powder Market Size

  The Milk Powder Market is expected to reach approximately $44.96 billion by 2030, up from $32.19 billion in 2023. According to Renub Research, the market is projected to grow at a CAGR of 4.89% from 2024 to 2030.

  Powdered milk, derived from pasteurized milk through evaporative drying, exists in various forms, including skim, whole, and non-dairy options. It is primarily used as an ingredient in baby formula and confections, particularly chocolates. Additionally, it serves as a substitute for liquid milk in baking, helping to maintain the desired batter consistency. Due to its ease of transport and extended shelf life, powdered milk is a staple for survivalists and in regions where fresh milk is not readily available.

  According to USDA data, global production of whole milk powder reached 4.34 million metric tons in 2022–2023.

  Milk Powder Market Growth Factors

  Dietary Benefits and Convenience

  The demand for convenient and shelf-stable dairy products is driving significant growth in the milk powder market. Increased awareness of the nutritional benefits of dairy, along with busy lifestyles and rising urbanization, contributes to this trend. In emerging economies, the popularity of milk powder is rising due to urbanization and higher disposable incomes, as its convenience and long shelf life eliminate the need for refrigeration.

  World Milk Day, initiated by the Food and Agriculture Organization (FAO) of the United Nations, aims to raise awareness about the importance of dairy products in our diets and promote their consumption globally. The National Institutes of Health (NIH) recommends a daily calcium intake of approximately 1,000 mg for individuals aged 19 to 50, increasing to 1,200 mg for those aged 51 and older. Consuming milk products is a key way to meet these nutritional requirements.

  Diverse Applications

  Milk powder has a wide range of applications. Instant milk powders, which dissolve quickly in water, are commonly used in beverage mixes as a substitute for fresh milk. The market offers a variety of nutritionally enriched milk powder products tailored to different life stages, including those fortified with calcium, iron, and folate.

  • In October 2023, Nestlé launched its first line of affordable, nutrient-rich instant powder in Central and West Africa, blending plant-based and dairy ingredients.
  • In June 2023, Danone introduced a plant-based and dairy milk powder blend for babies and toddlers in Australia and New Zealand.

  Milk powder is also incorporated into various food products, such as ice cream, yogurt, cultured milk, chocolates, candies, baked goods, soups, and sauces. Buttermilk powders are often used to enhance dairy flavors, further boosting the global milk powder market.

  United States Milk Powder Market

  The United States is a significant player in the global milk powder market, supported by strong infrastructure, a plentiful milk supply, and government assistance. Financial aid for farmers and processors, along with robust research and development and competitive pricing, enhances the U.S. milk powder industry.

  According to a recent report from the U.S. Department of Agriculture (USDA) Global Agricultural Information Network (GAIN), the U.S. is expected to produce 1.30 million tons of skim milk powder in 2024, representing an 11% increase from current levels due to higher milk production and ample skim milk for drying. Exports are also anticipated to rise by 3% to 838,000 tons, driven by increased supply and a rebound in shipments to price-sensitive markets in East and Southeast Asia after a decline in 2023.

  As the price gap between the U.S. and EU narrows, the competitive landscape is expected to favor U.S. exports. In November 2023, the price for Western low-medium heat nonfat dry milk (NDM) was $1.21 per pound in the U.S., compared to $1.36 per pound for skim milk powder in the EU.

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  Global Milk Powder Industry News

  Key players in the milk powder market include The Kraft Heinz Company (U.S.), China Mengniu Dairy Company Limited, Land O'Lakes, Inc., Arla Foods amba, Danone, Saputo Inc., Nestlé (Switzerland), and Ausnutria Dairy Corporation Ltd. (Netherlands).

  • Nestlé (Switzerland): In November 2023, Nestlé launched a new line of milk powder called N3 in China, made from cow's milk and fortified with essential nutrients. The range includes two high-protein options: one based on whole milk and the other on skim milk.
  • Danone: In November 2023, Danone introduced a 600 g Cow & Gate Follow-on Milk powder pack, aimed at budget-conscious families, with a retail price of £7.50, making it the most affordable option in the Cow & Gate range.
  • Saputo Inc.: In July 2021, Saputo announced its acquisition of Wensleydale Dairy Products Limited, which operates two facilities in North Yorkshire, to integrate into its Dairy Division in the UK. In May 2021, Saputo revealed the acquisition of two strategically aligned businesses in the dairy substitutes and value-added ingredients sectors for approximately CDN$187 million.
  • Arla Foods amba: In November 2023, Arla Foods Ingredients introduced three new powdered milk formulas compliant with Chinese standards, designed for healthy aging and containing probiotics, whey protein, vitamins, and minerals. In October 2023, Arla launched a customer program to help clients meet their scope 3 reduction targets and promote climate-efficient dairy production.
  • Ausnutria Dairy Corporation Ltd. (Netherlands): In July 2023, Ausnutria announced that its goat milk formula, Kabrita, complies with U.S. FDA regulations, allowing it to market and distribute the formula for infants (0–12 months) in the U.S. Additionally, in November 2021, Yili, based in Inner Mongolia, became Ausnutria's largest stakeholder, bolstering its position in the baby formula and nutritional food market.

  By Type

  1.    Whole Milk Powder

  2.    Skimmed Milk Powder

  3.    Dairy Whitener Powder

  4.    Buttermilk Powder

  5.    Fat-Filled Milk Powder

  6.    Other Milk Powder

   

   

  By Application

  1.    Nutritional Food

  2.    Infant Formulas

  3.    Confectionaries

  4.    Baked Sweets

  5.    Savories

  6.    Others

   

   

  By Country

  1.    North America

   

  1.1    United States

  1.2    Canada

   

  2.    Europe

   

  2.1    Germany

  2.2    United Kingdom

  2.3    France

  2.4    Italy

  2.5    Spain

  2.6    Switzerland

   

  3.    Asia Pacific

   

  3.1    Japan

  3.2    China

  3.3    India

  3.4    South Korea

  3.5    Indonesia

  3.6    Australia

   

  4.    Latin America

   

  4.1    Mexico

  4.2    Brazil

  4.3    Argentina

   

  5.    Middle East & Africa

   

  5.1    Saudi Arabia

  5.2    United Arab Emirates

  5.3    South Africa

   

  6.    Rest of World

   

   

  All companies have been covered from 3 viewpoints:

  •    Overview

  •    Recent Development

  •    Revenue

   

   

  Company Analysis:

  1.    Nestle (Switzerland)

  2.    Danone

  3.    Saputo Inc.,

  4.    Arla Foods amba

  5.    The Kraft heinz company (U.S)

  6.    Royal FrieslandCampina N.V.,

  7.    Land O'Lakes, Inc

  8.    China Mengniu Dairy Company Limited

  9.    Ausnutria Dairy Corporation Ltd. (Netherlands)

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