Dallas, Feb. 07, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global nonfat milk powder market is projected to grow from USD 8.16 billion in 2020 to USD 13.66 billion by 2028, at a CAGR of 6.59% during the forecast period 2021-2028.
Non-fat milk powder contains at least 35-37% of protein, and it is most commonly used in the therapeutic and supplementary foods. It can also be used in the ready-to-use foods (RUFs) or fortified blended foods (FBFs). The nonfat milk powder enhanced the flavor in the finished products and required less cost than the regular milk. The nonfat milk powder reduces the risk of food poisoning and other food risks, as it is resistant to bacterial growth due to less fat and moisture.
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Nonfat milk powder is the product which is obtained by removing the water from pasteurized nonfat milk. This milk powder contains less than 1% of milk fat and less than 5% of less moisture than the normal milk. Based on the heat treatment, the nonfat milk powder is classified into three types– high-heat (least soluble), medium-heat, and low-heat (most soluble). The nonfat milk powder has various applications in the bakery products as it helps to make the excellent loaf in bread. It contains the same amount of protein, minerals, and vitamins as regular milk. The nonfat milk powder has a long shelf life and can be stored up to 3 years if stored properly.
Nowadays, the production of dried milk powder, including nonfat milk powder and skimmed milk powder has become increasingly important. The factors such as better quality, less cost, longer shelf life, and lower shipping cost are some of the key factors driving the growth of the market. As it requires less cost and less shipping charges, the nonfat milk powder has become one of the great economic alternatives for the regular milk. The longer shelf life and easy availability is also propelling the growth of nonfat milk powder market. Furthermore, increasing applications of nonfat milk powder in the bakery and confectionary industry is pushing the growth of the market from the past few years. However, the nonfat milk powder consumption is not suitable for the children under age, as it does not provide the proper amount of calories and fats, which is required for the healthy growth of children. Therefore, this factor may hinder the growth of the market over the forecast period.
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Major players in the global nonfat milk powder market are Hochdorf Holding AG, Amul, Nestle S.A., Bob's Red Mill, Mayfield Dairy Farms, Inc., All American Foods, Inc., Dairy Farmers of America Inc., The St. Albans Cooperative Creamery, Inc., Unilever, and DairyAmerica, Inc. among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global nonfat milk powder industry.
• In February 2020, Hochdorf Holding AG announced that it has sold its German milk plant to Ostmilch Handels GmBH to focus on other business.
• In November 2019, Nestle S.A. announced the launch of high-end milk powder products, Shu Chun, for Chinese family consumers.
The low heat treatment nonfat milk powder segment dominated the market and valued at USD 5.11 billion in the year 2020
The heat treatment segment is divided into high-heat nonfat milk powder, medium-heat nonfat milk powder, and low-heat nonfat milk powder. The low heat treatment nonfat milk powder segment dominated the market and valued at USD 5.11 billion in the year 2020. The low heat treatment is used for the production of nonfat milk powder which widely used in the application of bakery and cheese manufacturing. Increasing demand for nonfat milk powder in the bakery and confectionary is driving the growth of the market.
Confectionery & bakery segment accounted for the major market share of 32.87% in the year 2020
The application segment includes confectionery & bakery, nutritional foods, prepared foods, dairy products and others. Confectionery & bakery segment accounted for the major market share of 32.87% in the year 2020. Nonfat milk powder has immense application in the bakery and confectionary products such as bread, pastry, chocolates, and cakes. Increasing demand for ready to eat bakery products is driving the growth of the market.
The online store is anticipated to grow at the highest CAGR of 8.1% over the forecast period
The distribution channel segment includes online stores and offline stores. The offline segment further sub-segmented into supermarket, wholesalers, and retail stores. The online store is anticipated to grow at the highest CAGR of 8.1% over the forecast period. The convenience to buy and doorstep delivery are some of the factors contributing to the growth of the market. In addition to this, online stores offer high discount to the customers, further boosting the growth of the market.
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Regional Segment Analysis of the Nonfat 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 Asia Pacific region dominated the global nonfat milk powder market and valued at USD 3.14 billion in the year 2020. The high production of milk as a raw material in the countries such as India is one of the key contributing factors in the growth of the market. In addition to this, rising bakery and confectionary industry in the Asia Pacific region, further boosting the growth of the market. On the other hand, North America held the second-largest market share in the global nonfat milk powder market. High awareness about the health benefits of nonfat milk powder is boosting the growth of the market in this region.
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About the report:
The global nonfat milk powder market is analyzed 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 an 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, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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