DUBLIN, Oct. 19, 2023 /PRNewswire/ — The “Whole Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global whole milk powder market, with a size of 6.2 million tons in 2022, is set to expand significantly. Analysts project it will reach 7.5 million tons by 2028, displaying a steady Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period of 2023-2028.
Whole milk powder is produced by eliminating water from fresh pasteurized, homogenized, or non-homogenized milk through processes such as evaporation or spray-drying. It is known for its creamy flavor, light cream color, and pleasing taste. Whole milk powder retains the same nutritional properties as regular milk, inhibits microbial growth, and offers a long shelf life. Its ease of handling, storage, and dispersion in water, along with cost-efficient milk fats, make it a valuable ingredient in various food products.
Driving Factors:
Food and Beverage Industry: The thriving food and beverage (F&B) industry is a significant driver boosting the use of whole milk powder in recombined milk, baby food and infant formulas, and energy foods, beverages, and toppings.
Demand for Baby Food: Escalating demand for baby food and infant formulas due to the busy lifestyles of working parents and their concerns about their children’s development is a key factor driving market growth.
Baked and Confectionery Goods: Whole milk powder is utilized as a source of non-fat milk solids in baked and confectionery goods, further strengthening market growth.
Low Availability Regions: In regions with limited milk availability, milk powder is increasingly popular. Additionally, organic and lactose-free variants are gaining traction.
Vitamin-Fortified Products: Manufacturers are offering vitamin-fortified whole milk powder for use in milk beverages, yogurt, coffee, and tea whitener.
E-commerce: The availability of different product flavors in instant, organic, and low-fat variants through e-commerce channels is propelling market growth.
Market Segmentation:
By End Use: Dairy, Infant Formulae, Bakery, Confectionery, Others
The dairy sector is the largest consumer of whole milk powder due to increasing demand for milk-based products worldwide.
Regional Insights:
China: China holds the majority of the market share, driven by the consumption of immunity-boosting products post-COVID-19.
Competitive Landscape:
The report provides an analysis of the competitive landscape, including detailed profiles of major players in the industry. Key players include Lactalis International, Nestle S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., and Danone S.A.
Key Questions Answered:
What is the size of the global whole milk powder market in 2022?
What is the growth outlook for the global whole milk powder market from 2023 to 2028?
What are the major drivers of the global whole milk powder market?
What are the key trends in the market?
What is the impact of COVID-19 on the global whole milk powder market?
What is the market breakdown by end use?
Which regions are prominent in the global whole milk powder market?
Who are the leading companies in the global whole milk powder market?
For more information about this report visit https://www.researchandmarkets.com/r/3j9szp
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