Newark, NJ, March 03, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global milk powder market is expected to grow from USD 26.34 billion in 2017 to USD 39.56 billion by 2025 at a CAGR of 5.2% during the forecast period from 2018-2025.
The milk powder market is growing at a rapid pace, owing to increasing demand for processed meat globally. The demand is increasing for the milk powder, mainly due to it offers many advantage such as longer shelf life, due to presence of low moisture content. Thus, milk powder can be easily stored at ambient temperature, without requirement of cold chain infrastructure, and can be stored for the longer time.
Milk powder is defined as a dry dairy product which is produced by dehydrating milk using evaporation. The sole aim of making milk powder is to increase the shelf life of milk without using the refrigerator. Various types of milk powder include skimmed milk powder, dairy whitener, whole milk powder, and other. It is widely used in infant formulas, confectionaries, baked desserts, and savoury items. Milk powders contain the building blocks of proteins, all twenty-one standard amino acids, and are high in soluble vitamins and minerals. As the milk powder covers a wide application area and offers various nutritional benefits, there is a substantial increase in the demand for the milk powder across the globe.
Global milk powder market is expected to witness rapid growth over the forecast period, owing to shifting consumer preference for an alternative to milk. Growing use of milk powder in infant foods and the presence of several nutrients such as vitamin B12, thiamin, vitamin C, and high amounts of protein is a key driver aiding in the growth of this market Also, increasing disposable income of population living in developing nations is also boosting up the demand for milk powder. But the increasing concerns for ultra-high temperature (UHT) milk is anticipated to restrain the market growth, over the forecast period. However, increased prevalence of flavored milk powder has opened up new opportunities in the market may boost the market in the coming years.
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Key players operating in the global milk powder 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. among others. To enhance their market position in the global milk powder market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership.
- For instance, in September 2017, Lactalis announced the acquisition of the nutrition business of South African company, Aspen Pharmacare, for USD 743.23 million as it aims to expand in the infant formula market.
- In November 2017, Dairy Farmers of America Inc. announced the opening of its new milk powder plant in Garden City, Kansas for growth in domestic and international demand for milk powder and a desire to support the industry’s growth in the area.
- In October 2017, Saputo Inc. announced the acquisition of Murray Goulburn Co-Operative Co. Limited, a dairy foods company, to add and complement the activities of the Company's Dairy Division (Australia).
The whole milk segment dominated the market and valued around USD 7.85 billion in 2017
The type segment is classified into dairy whitener, whole milk powder, skimmed milk powder, buttermilk powder, fat-filled milk powder, and other milk powder. The whole milk segment dominated the market and valued around USD 7.85 billion 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. It has longer shelf life and does not need to be refrigerated, further boosting the growth of whole milk powder demand.
Infant formulas dominated the market with the highest share of 32.10% in 2017
The application segment is segmented into nutritional food, infant formulas, confectionaries, baked sweets, savouries, and others. Infant formulas dominated the market with the highest share of 32.10% in 2017. Rise in a number of women working outside their houses and the growing participation of women in the labor force, which drives the growth of the infant formulas segment growth. Infant formulas present an appealing alternative to working mothers for their babies as per the convenience and need.
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Regional Segment Analysis of the Milk Powder Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region 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. Increase in penetration of internet and social media and rise in the affluent population and drives the consumption of processed and packaged food, which makes way for packaged goods in the region. The LAMEA is anticipated to grow rapidly milk powder market due to changes in consumer work and lifestyles, which as a result has encouraged people in the region to start depending on packaged food item. Moreover, increase in consumption of infant formulas has added to the demand for milk powder in the Middle East and Africa region.
About the report:
The global milk powder market is analysed on the basis of value (USD Billion), volume (Kilotons), export (Kilotons), and import (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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