Milk Powder Market: Industry Trends and Forecast (2024-2030)

The recently released report, “Milk Powder Market: Industry Trends, Growth, Share, Size, Opportunity, and Forecast 2024-2030,” by Renub Research, provides an in-depth analysis of the global milk powder market. The study examines competition, geographic distribution, and market growth potential.

Global Milk Powder Market Growth Outlook:
The milk powder market is projected to grow at a compound annual growth rate (CAGR) of 4.89% from 2024 to 2030. Milk powder is valued globally for its versatility and extended shelf life, making it an essential product across the food, beverage, and nutrition industries. Its balanced nutritional profile ensures its prominence, particularly in applications such as infant formulas, baked goods, confectionery, and other dairy products. The product’s adaptability and cost-effectiveness, along with ease of storage, make it an attractive option for manufacturers and consumers alike.

Market Innovation and Technological Advancements

Leading companies in the milk powder market are integrating advanced technologies such as artificial intelligence (AI), machine learning, and data analytics to enhance product offerings. For instance, Nestlé is using AI for personalized infant formulas, while Fonterra leverages machine learning to optimize production processes. These innovations aim to improve nutritional profiles, expand product functionality, and prolong shelf life.

The global demand for personalized nutrition, growing interest in plant-based alternatives, and the rise of e-commerce are contributing to the market’s continued growth and future success.

Population Growth and Urbanization Driving Demand

With the global population projected to reach 9.7 billion by 2050, the demand for milk powder is expected to rise significantly. Urbanization plays a critical role in this trend, as city migration increases the consumption of milk powder due to its convenience and shelf stability. This trend is evident in North America, where rising consumer preferences for easy-to-use, flexible dairy products and advancements in production technologies drive steady growth in the milk powder market.

Projected Global Milk Powder Market Value by 2030:
The market is expected to reach US$44.96 billion by 2030.

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Whole Milk Powder: The Dominant Product

Whole milk powder is a leading segment in the global market due to its nutritional value and diverse applications. It is widely used in infant formulations, animal feed, and various food products. The powder enhances taste and texture in baked goods, confectionery, sauces, and dairy items while providing an extended shelf life that minimizes waste and optimizes supply chains. The increasing urbanization, rising incomes, and demand for convenient and nutritious options further fuel the demand for whole milk powder.

Key Product Types in the Global Milk Powder Market:

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 Gaining Popularity

Baked sweets are a growing category within the milk powder market, driven by consumers’ desire for indulgent and convenient snacks. Milk powder plays a crucial role in improving the flavor, texture, and shelf life of these products, making it a popular ingredient. Its cost-effectiveness also adds to the overall appeal of baked sweets by offering a balance between health benefits and indulgence.

Key Applications in the Milk Powder Market:

1. Nutritional Food
2. Infant Formulas
3. Confectionaries
4. Baked Sweets
5. Savories
6. Others

United States Leading the Global Market

The United States is expected to maintain its leadership position in the milk powder market, thanks to its strong dairy infrastructure and technological advancements. The U.S. excels in dairy research and development, improving production methods and catering to diverse consumer demands. Its wide range of products, including whole and skimmed milk powders, whey protein powders, and specialized blends, meets the needs of various industries and consumers. Strategic exports, driven by location and trade agreements, further strengthen the U.S.’s role in the global milk powder market.

Top Markets for Milk Powder:

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 the World

Competitive Landscape

Key players in the global milk powder industry include:

1. Nestlé (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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