Milk Powder Market by Type (Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat-Filled Milk Powder, Other Milk Powder), Application,Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global milk powder market is expected to grow from USD 26,345.6 Million in 2017 to USD 39,567.2 Million by 2025 at a CAGR of 5.2% during the forecast period from 2018-2025. Rise in disposable income of population living in developing nations and consumer inclination towards alternative to milk are estimated to drive the milk powder market during the forecast period.
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The whole milk segment dominated the market with the highest share of 29.80% in 2017
The type segment is classified into whole milk powder, skimmed milk powder, dairy whitener, buttermilk powder, fat-filled milk powder, and other milk powder. The whole milk segment dominated the market in 2017. Whole milk is the most natural form of milk. Whole milk powder contains higher calories and is suitable for people who require high amounts of calories. It is also used as an ingredient in food items that need a thicker consistency. Whole milk powder has all the nutrients present in milk, except vitamin C, vitamin B12, thiamin, and a reduced amount of protein.
Infant formulas dominated the market and valued around USD 8,456.93 Million in 2017
The application segment is segmented into nutritional food, infant formulas, confectionaries, baked sweets, savories, and others. Infant formulas dominated the market with the highest share in 2017. The growing participation of women in the labor force has led to a rise in a number of women working outside their houses, which drives the growth of the infant formulas market. Infant formulas present an appealing alternative to working mothers for their babies as per the need and convenience.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. The Asia Pacificregion is dominating the market with the highest share of 40.90% in 2017 the milk powder market in the Asia-Pacific is driven by changing lifestyles, which is led by globalization and increase in working population. The rise in the affluent population and increase in penetration of internet and social media drives the consumption of processed and packaged food, which makes way for packaged goods in the region.
The major players of market include Arla Foods amba, Dairy Farmers of America Inc., Danone, Dean Foods Company, Fonterra Co-operative Group, Kraft Foods Inc., Lactalis Group, Nestle S.A, Saputo Inc., and Schreiber Foods Inc.
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