The global milk powder market reached a volume of more than 700 Million Tons in 2016. The factors which have contributed in influencing the growth of the market include the health benefits facilitated by the nutritional elements in the milk powder, along with its extensive applications in the food and beverage industry.
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According to the latest report by IMARC Group titled, “Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global milk powder market has grown at a CAGR of 3% during 2009-2016, reaching a volume of more than 700 Million Tons in 2016. Milk Powder is obtained by evaporating fluid milk which is further condensed and processed. During the evaporation process, milk is also pasteurised under controlled temperatures to eliminate the bacterial growth. Milk powder carries necessary nutrients and is an excellent source of essential minerals and vitamins such as magnesium, calcium, zinc, potassium as well as vitamins A, D, E and K. Furthermore, it provides the daily dose of some other important nutritional elements such as amino acids and antioxidants which are responsible for cellular growth, stimulating the body’s immune system, aiding in blood clotting and calcium absorption.
Highlights of the global milk powder market:
Milk powder market is stimulated by its numerous applications in the food and beverage industry.
The market is segmented as whole milk powder and skimmed milk powder.
The European Union and China represent the largest producer and consumer, respectively.
Milk powder finds a number of applications such as dairy, bakery, beverages, confectionaries, meat, sauces, soups, etc. It can further be exploited for its inherent functional properties as an ingredient in numerous value added foods. Increased shelf life, easy storage, low transportation and distribution costs, strong growth in emerging markets and stable demand in end-use industries are some of the factors that are proactive in maintaining an unfailing demand for milk powder. Owing to these factors, the market is further expected to reach a volume of around 900 Million Tons by 2022, growing at a CAGR of 2% during 2017-2022.
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The market for milk powder is segmented as whole milk powder and skimmed milk powder. Region-wise, the European Union represents the largest market for milk powder, accounting for the biggest share of the total global milk powder production. At the consumption level, China accounts for around one-third of the total global shares. Some of the other major markets for milk powder include New Zealand, the United States and Brazil. On examining the competitive landscape, it has been found that Nestle, Danone, Lactalis, Fonterra, FrieslandCampina, Dairy Farmers of America and Arla Foods represent the major players in the market.
The report by IMARC Group has examined the global milk powder market on the basis of:
Whole Milk Powder
Skimmed Milk Powder
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