Milk Powder Market
The market share of milk powder is expected to grow from US$ 32.19 billion in 2023 to around US$ 44.96 billion by 2030. According to Renub Research, from 2024 to 2030, Milk Powder Market the market is expected to develop at a CAGR of 4.89%. The reason milk powder is consumed all over the world is because it contains a lot of protein, thiamin, and vitamin B12. Furthermore, milk powder is more in demand than regular milk because it has a longer shelf life. Another great and abundant source of protein is skim milk powder.
Growth driver of Global Milk Powder Market
Increasing population and urbanization
Convenient, non-perishable food items are in high demand due to the growing worldwide population and accelerating urbanization, which is driving the global milk powder market’s growth. Fast-paced, condensed urban lifestyles tend to favor food products that are easy to store and have a long shelf life, such as milk powder. It is a useful option for anyone looking for wholesome, easily prepared foods that fit into the hectic lifestyle of cities. The industry is growing because milk powder’s duration and ability to store well—it doesn’t require refrigeration—align well with the urban demand for food alternatives that are both convenient and long-lasting.
By Type
1. Whole Milk Powder
2. Skimmed Milk Powder
3. Dairy Whitener Powder
4. Buttermilk Powder
5. Fat-Filled Milk Powder
6. Other Milk Powder
By Application
1. Nutritional Food
2. Infant Formulas
3. Confectionaries
4. Baked Sweets
5. Savories
6. Others
Asia-Pacific is the Leading Market
The milk powder market is now dominated by Asia-Pacific due to the region’s shifting lifestyle. Moreover, throughout the forecast period, the region’s milk powder market would expand due to the effects of globalization and a rise in the working population. The milk powder sector is predicted to grow significantly in Asia-Pacific as a result of improvements in processing and shipping technologies. The region’s milk powder sector is also anticipated to advance due to reduced transportation expenses and the use of export subsidies. The most significant rural industry, according to the Australian Government’s Department of Agriculture, Fisheries, and Forestry, is the dairy sector. About 35% of Australia’s milk production is exported, and a sizable amount of it is made up of value-added goods such milk powders, ultra-heat-treated milk, and Other similar products.
How shortfall in milk will impact the market?
Concerns about cereal inflation are gradually waning as maximum temperatures haven’t increased significantly enough to reduce wheat yields. Relative comfort is increased by the fact that declining worldwide prices have made imports more viable. Chicago wheat futures are currently selling below $260 per tonne, down from heights of $500 or more reached a year ago. This isn’t the case with milk, though, as the “flush” season (October to March) is when cows and buffaloes often produce more. Dairies use the excess to make butter, ghee, and skimmed milk powder (SMP) for reconstitution in the “lean” months of April through September, when high humidity and heat stress cause cows to produce less.
There’s an easy fix for the shortage of milk. Just three years ago, during the Covid lockout, farmers were paid Rs 18–20 per liter for cow milk and Rs 30-32 for buffalo milk. Dairies were obliged to lower procurement prices as a result of the demand destruction caused by the closure of hotels, restaurants, and candy stores, in addition to the postponement of social events like weddings. In response, farmers reduced the size of their herds, underfed calves, and stopped producing milk in pregnant cows. As a result, the animals are now poor milk producers. Supply has thus decreased, which has been made worse by growing feed prices and fodder shortages. Demand has also increased as economic activity has returned to normal.
Report Report:
By Country
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Switzerland
Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Australia
Latin America
- Mexico
- Brazil
- Argentina
Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
Rest of World
All companies have been covered from 3 viewpoints:
• Overview
• Recent Development
• Revenue
Company Analysis:
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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