Dublin, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The "Whole Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global whole milk powder market, with a size of 6.2 million tons in 2022, is set to expand significantly. Analysts project it will reach 7.5 million tons by 2028, displaying a steady Compound Annual Growth Rate (CAGR) of 3.2% during the forecast period of 2023-2028.
Whole milk powder is produced by eliminating water from fresh pasteurized, homogenized, or non-homogenized milk through processes such as evaporation or spray-drying. It is known for its creamy flavor, light cream color, and pleasing taste. Whole milk powder retains the same nutritional properties as regular milk, inhibits microbial growth, and offers a long shelf life. Its ease of handling, storage, and dispersion in water, along with cost-efficient milk fats, make it a valuable ingredient in various food products.
Driving Factors:
- Food and Beverage Industry: The thriving food and beverage (F&B) industry is a significant driver boosting the use of whole milk powder in recombined milk, baby food and infant formulas, and energy foods, beverages, and toppings.
- Demand for Baby Food: Escalating demand for baby food and infant formulas due to the busy lifestyles of working parents and their concerns about their children's development is a key factor driving market growth.
- Baked and Confectionery Goods: Whole milk powder is utilized as a source of non-fat milk solids in baked and confectionery goods, further strengthening market growth.
- Low Availability Regions: In regions with limited milk availability, milk powder is increasingly popular. Additionally, organic and lactose-free variants are gaining traction.
- Vitamin-Fortified Products: Manufacturers are offering vitamin-fortified whole milk powder for use in milk beverages, yogurt, coffee, and tea whitener.
- E-commerce: The availability of different product flavors in instant, organic, and low-fat variants through e-commerce channels is propelling market growth.
Market Segmentation:
- By End Use: Dairy, Infant Formulae, Bakery, Confectionery, Others
- The dairy sector is the largest consumer of whole milk powder due to increasing demand for milk-based products worldwide.
Regional Insights:
- China: China holds the majority of the market share, driven by the consumption of immunity-boosting products post-COVID-19.
Competitive Landscape:
The report provides an analysis of the competitive landscape, including detailed profiles of major players in the industry. Key players include Lactalis International, Nestle S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., and Danone S.A.
Key Questions Answered:
- What is the size of the global whole milk powder market in 2022?
- What is the growth outlook for the global whole milk powder market from 2023 to 2028?
- What are the major drivers of the global whole milk powder market?
- What are the key trends in the market?
- What is the impact of COVID-19 on the global whole milk powder market?
- What is the market breakdown by end use?
- Which regions are prominent in the global whole milk powder market?
- Who are the leading companies in the global whole milk powder market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 137 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 6.2 Million Tons |
| Forecasted Market Value by 2028 | 7.5 Million Tons |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/m380fk
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