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Market InsightsThe incidence of a large number of market players, both large and small, renders the global dry whole milk powder market to have a healthy growth rate, which expects to expand by 2023 with growing some positive factors, finds Market Research Future (MRFR). The growth equally deals with large players who operate globally and have established presence; whereas, small players have created a niche to serve regional markets. Such growth pattern is attributed to factors such as rise in disposable income of population mainly in developing nations as well as the inclination of a consumer towards an alternative to milk are calculated to drive the global whole milk powder market during the forecast period.
Milk powder is primarily obtained by dehydrating milk. The milk powder can be stored without substantial loss of quality due to low water activity and is used as an ingredient for different applications in confectionaries, bakeries, infant formulas, and nutritional foods. It is obtained mainly by roller drying and sprays drying methods.
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Key players
Some of the top market players are listed as
• Arla Foods amba (Denmark)
• Carbery Group Ltd. (Ireland)
• Cargill Corporation (US)
• Dairy Farmers of America Inc (US)
• Davisco Food International Inc (US)
• Fonterra Co-Operative Group Ltd (New Zealand)
• Glanbia plc (Ireland)
• Hilmar Cheese Company, Inc. (US)
• Maple island Inc. (US)
• Milk Specialties company (US)
Global Dry Whole Milk Powder Market: Drivers & Trends
The global dry whole milk powder market growth is attributed to factors such as a focus on the benefits of dairy products and growing health awareness among people. Also, rapid urbanization and growing need for convenience are some of the major driving factors for the global whole milk powder market. As some remote locations have a limited supply of raw milk owing to inadequate infrastructure and transportation facilities. Such condition exhibits a high demand for extended shelf life products such as whole milk powder. Since whole milk powder has a longer shelf life than raw milk, it is posing as a major factor driving the global dry whole milk powder market growth in substantial ways.
Besides this, dry whole milk powder can be stored up to a year without significant loss of its value, which is also propelling the market significantly. Even, people have become busier with the advent of globalization and their lifestyles have changed. Therefore, the time allocated for household work, such as cooking has reduced drastically. Such a lack of time has encouraged them to find alternatives, which resulted in packaged and processed food as well as ready-to-eat meals to adopt with regards to reduce time. This factor of seeking suitable options has eventually paved ways for purchasing milk powder, globally. Furthermore, the number of working women has increased and thus, fuels the adoption of infant formula, which boosts the growth of whole milk powder globally. This has encouraged the global dry whole milk powder market to expand at an exponential rate in the years to come.
Furthermore, some other factors such as the introduction or development of new milk products such as flavored milk powder or lactose-free milk powder are also expected to boost the whole milk powder market growth in the coming years. Additionally, the advantage of the reduced economy for transportation also accounts for a key factor for whole milk powder products. Even the rising disposable incomes in emerging nations is also leading to the adoption of western practices of stocking up food is also boosting sales of powdered milk tremendously.
Market Segmentation
According to the reports, the global whole milk powder market has been segmented based on type, application, and region.
By the mode of type, the market has been segmented into regular whole milk formula, instant whole milk formula, and others including organic and caramelized. While instant whole milk formula segment is expected to witness the highest growth rate with the increasing demand for efficient whole milk powder. Moreover, regular whole milk formula segment is expected to hold a major share of the market during the forecast period.
By the mode of application, the whole milk powder market has been segmented into dairy, snacks, bakery & confectionery, ice-cream & desserts, and others including supplements, whiteners. Wherein, the dairy segment is expected to hold a significant share of the market. The bakery & confectionery segment is anticipated to observe the highest growth rate due to the rising demand for nutritional bakery products.
Regional Outlook
Regionally, the market in North America is expected to hold major share owing to the high productions of milk coupling with the presence of key players in the region. Whereas, the market of whole milk powder in Asia-Pacific is also expected to illustrate rapid growth owing to the ever-growing population, and the presence of top milk produces India and China in the region. The Asia-Pacific market of whole milk powder is also driven by changing lifestyles, which is led by globalization and increase in the working population.
The European region leads the Global Whole Milk Powder Market owing to a shift towards the consumption of dairy-rich palate as well as low storage and transportation costs of milk powder. Some of the other major markets include New Zealand, China, the United States, and Brazil.
Industry News
May 13, 2019: CWT assists in sales of 1.6 million pounds of whole milk powder.
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Name: Abhishek
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/whole-milk-powder-market-1831
Release ID: 524525
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