Milk Powder Market expected to arrive at US$ 44.96 Billion by 2030, at 4.89% CAGR Growth

Posted 2024-01-23 08:16:28

The recently released report, " Milk Powder Market: Industry Trends, Growth, Share, Size, Opportunity, and Forecast 2024-2030," produced by Renub Research, includes extensive enterprise analysis and market percentage records. The competition, geographic distribution, and growth potential of the Global Milk Powder Market are all examined in this study.

Global Milk Powder Market is predicted to extend at a CAGR of 4.89% from 2024 to 2030

Milk powder enjoys a global reputation due to its multifaceted utility and convenience. Widely embraced for its prolonged shelf existence, it caters to numerous customer demands in the food, beverage, and dietary industries. Whole milk powder's balanced dietary profile contributes to its dominance, serving as a key aspect in infant formulas, baked goods, confectionery, and dairy products. The powder's adaptability, value-effectiveness, and simplicity of storage fuel its vast use, attractive to both manufacturers and clients. As a versatile and vital factor in diverse packages, milk powder's reputation keeps rising globally, driven by its efficiency, dietary cost, and vast spectrum of applications.

Moreover, major players in the milk powder market are continuously innovating and using advanced technology like artificial intelligence, machine learning, and data analytics. This innovation improves milk powder products with progressed nutritional profiles, enhanced functionalities, and prolonged shelf lives. Examples include Nestlé's use of AI to create personalized infant formulas, Fonterra's utility of machine learning to optimize production procedures, and Aral Foods using data analytics for market identification. Such technology aids in meeting the demand for personalized nutrients, developing products with more excellent functionalities, and expanding into new markets. These improvements align with broader tendencies, which include the demand for protein, the upward thrust of plant-based alternatives, and the impact of e-commerce, which together drive growth and ensure the future success of the milk powder market.

Besides, with the global population projected to attain 9.7 billion by 2050, the demand for milk powder is ready to rise considerably. Urbanization plays a pivotal role in this trend, as migration to cities prompts a higher intake of milk powder due to its comfort and shelf-stable nature. This phenomenon is evident in the steady boom of the North American milk powder market, pushed by growing consumer choice for convenient and flexible dairy merchandise, improvements in production technologies, and a growing focus on nutritional value. Hence, the projected value of the global milk powder market by 2030 is US$ 44.96 Billion.

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Whole milk powder is dominant worldwide due to its versatility, dietary richness, and extensive applicability throughout various industries

The dietary value of whole milk powder, encompassing proteins, fats, nutrients, and minerals, makes it vital in infant formulation, animal feeds, and numerous food products. The powder's adaptability shines as it transforms into liquid milk, improving the taste and texture of baked items, confectionery, sauces, and dairy items. Boasting an extended shelf life minimizes waste and allows efficient supply chain control. Cost-effectiveness, widespread applications, and a role in diverse sectors also propel whole milk powder's market occurrence, fuelled by urbanization, increasing incomes, and a growing need for handy, nutritious services.

Type – Worldwide Milk Powder Market breakup from 6 viewpoints:

1. Whole Milk Powder

2. Skimmed Milk Powder

3. Dairy Whitener Powder

4. Buttermilk Powder

5. Fat-Filled Milk Powder

6. Other Milk Powder

Baked sweets are gaining popularity in the milk powder market because of their delectable taste and versatility

Consumers are increasingly drawn to indulgent and convenient treats, and baked sweets successfully meet those needs. Milk powder, a pivotal element, enhances those treats' flavor, texture, and shelf existence. The demand for convenient snacks aligns with the on-the-go way of life, making baked sweets, especially those incorporating milk powder, a sought-after choice. The versatility of milk powder enables diverse flavor profiles, from conventional to modern combinations, catering to varied possibilities. Its contribution to baked goods' creamy texture and structural balance benefits manufacturers and consumers alike. Also, the affordability of milk powder promotes the overall cost proposition of baked sweets, providing a healthier indulgence and wealth in essential vitamins.

Application – Milk Powder Market breakup from 6 viewpoints:

1. Nutritional Food

2. Infant Formulas

3. Confectionaries

4. Baked Sweets

5. Savories

6. Others

The United States is expected to maintain its leading milk powder market in the coming years

The U.S. boasts a sturdy dairy infrastructure, efficiently producing and dispensing first-rate milk powder globally. The country is a leader in dairy technology. They excel in research and development and improve production methods. The diverse product range consists of whole milk powder, skim milk powder, whey protein powder, and specialized blends, meeting varied purchasers' and enterprises' wishes. The U.S. considerably contributes to international milk powder distribution with strategic exports supported by location, trade agreements, and established channels. Increasing domestic demand, driven by urbanization, evolving patron preferences, and the popularity of baked goods, coupled with government aid, reinforces the nation's competitiveness. Ongoing innovation in the industry propels continuous growth in the international milk powder market.

Country – Milk Powder Market breakup from 21 viewpoints:

1. United States

2. Canada

3. Germany

4. United Kingdom

5. France

6. Italy

7. Spain

8. Switzerland

9. Japan

10. China

11. India

12. Australia

13. South Korea

14. Indonesia

15. Mexico

16. Brazil

17. Argentina

18. South Africa

19. Saudi Arabia

20. United Arab Emirates

21. Rest of world

Competitive Landscape

Global leaders in the milk powder industry include Nestle (Switzerland), Danone, Saputo Inc., Arla Foods amba, The Kraft Heinz Company (U.S), Royal FrieslandCampina N.V., Land O'Lakes, Inc, China Mengniu Dairy Company Limited, Ausnutria Dairy Corporation Ltd. (Netherlands).

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All companies have been covered from 3 viewpoints:

· Overview

· Recent Developments

· Revenue

Milk Powder Market Companies

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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