According to the latest report by IMARC Group, titled “Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global milk powder market reached a volume of 11.2 Million Tons in 2020. Milk powder, also known as dried milk, is a dairy product that is produced by evaporating the water content of the milk using evaporation or the spray drying process. During the process, the milk is pasteurized under controlled temperatures so as to eliminate any microbial growth. Milk powder is a rich source of zinc, calcium, magnesium, vitamins A, B12, D, E and K, as well as other nutritional elements, such as antioxidants. Although powdered milk and fresh milk share several nutritional similarities, milk powder does not require refrigeration and has a significantly extended shelf life.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Milk Powder Market Trends:
One of the key factors driving the milk powder market is the extensive product application in the food and beverage industry. It is utilized in the preparation of confectionaries, cakes, smoothies, bakery items, and infant formula. Besides this, the leading manufacturers are employing newer technologies and sustainable product packaging. For instance, they are utilizing green refrigeration systems, ceramic microfiltration systems that remove heat-resistant microbes from the milk, along with improved evaporators that reduce energy consumption and avoid denaturing milk proteins. Along with this, the growth of the market is also being influenced by improving living standards, expansion across end use industries, and easy transportability and low distribution costs of milk powder. Looking forward, IMARC Group expects the market to reach a volume of 14.1 Million Tons by 2026.
Market Summary:
- Based on the product type, whole milk powder dominates the market, followed by skimmed milk powder.
- The market has been segregated on the basis of the function into emulsification, foaming, flavoring and thickening. At present, milk powder is mostly used for emulsification.
- Based on the application, confectionery represents the largest segment. Other major application areas are instant formula, sports and nutrition foods, bakery products, dry mixes, fermented milk products and meat products.
- Region-wise, the European Union exhibits a clear dominance in the market. Other major regions include New Zealand, China, the United States and Brazil.
- The competitive landscape of the market has also been examined, with some of the key players being Nestlé S.A., Danone S.A., Lactalis Group, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Dean Foods, Arla Foods, Dairy Farmers of America Inc., Kraft Heinz Company, Saputo, Inc. and Parmalat S.p.A.
Competitive Landscape:
- Nestlé
- Danone
- Lactalis
- Fonterra
- FrieslandCampina
- Dean Foods
- Arla Foods
- Dairy Farmers of America
- Kraft Foods
- Saputo
- Parmalat
Key Market Segmentation:
Breakup by Product Type:
- Whole Milk Powder
- Skimmed Milk Powder
Breakup by Function:
- Emulsification
- Foaming
- Flavouring
- Thickening
Breakup by Application:
- Infant Formula
- Confectionery
- Sports and Nutrition Foods
- Bakery Products
- Dry Mixes
- Fermented Milk Products
- Meat Products
- Others
Regional Insights:
- European Union
- New Zealand
- China
- United States
- Brazil
- Others
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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