Milk powder is produced by dehydration of milk and stored without substantial loss of quality due to a low water activity that hampers microbial metabolism, preferably for a significant amount of time. It is obtained mainly by roller drying and spray drying methods and used as an ingredient for a wide range of applications such as confectionaries, infant formulas, bakeries, and nutritional foods. Due to the presence of low moisture content powdered milk has a longer shelf-life and can be stored at ambient temperatures as well as transported to remote locations without proper cold chain infrastructure. The changes in eating habits and busy lifestyle, high nutritional value and growth of the retail networks in emerging economies are the few factors responsible for the growth of the market over the forecast period.
Due to the COVID-19 pandemic, the market has been facing a decline in consumption of dairy products because of the temporary shutdown of hotels, restaurants and roadside tea stalls, etc.
Moreover, the increase in the use of milk powder in infant foods and the presence of several nutrients such as vitamin C, vitamin B12, thiamin, and high amounts of protein, driving the growth of this market. Furthermore, the introduction of innovative products and other strategic alliances by the various market players will create a lucrative demand for this market. For instance, as per the company’s news release in February 2020, Danone launched new sachet packaging for its Aptamil and Cow& Gate powder baby milk ranges in the UK. It includes the boxes of 14 ready-to-mix, single-serve sachets across all three stages of baby feeding for both brands: first infant milk (from birth), follow on milk (age 6-12 months) and growing up milk (age 1-2 years). However, the presence of additive and special diet trends is the major factor restraining the growth of the global Milk Powder market during the forecast period.
Global Milk Powder Market is valued approximately at USD 30.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.4% over the forecast period 2020-2026 and is estimated to reach USD 40.8 billion by 2026.
The regional analysis of the global Milk Powder market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2026.
Major market players included in this report are 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.
The detailed segments and sub-segment of the market are explained below:
By Type: Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat Filled Milk Powder,
Other Milk Powder
By Application: Nutritional Food, Infant Formulas, Confectionaries, Baked Sweets, Savories, Others
By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Milk Powder Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Review our report at http://www.bizwitresearch.com/reports/global-milk-powder-market-to-reach-usd-40-8-billion-by-2026/
To review more reports on Upcoming topics, visit us at http://www.bizwitresearch.com
Data drives better decisions
Bizwit Research & Consulting LLP