Milk Powder Market Overview
The global milk powder market is poised for significant growth, projected to reach approximately US$ 44.96 billion by 2030, up from US$ 32.19 billion in 2023. This growth represents a compound annual growth rate (CAGR) of 4.89% from 2024 to 2030, according to Renub Research. Milk powder, produced by evaporative drying of pasteurized milk, comes in several types such as whole, skimmed, and non-dairy milk powder. It plays an essential role in the production of infant formulas, confectioneries like chocolates, and various baked goods. Its long shelf life and ease of transport make it a preferred choice, especially in areas where fresh milk is not easily available.
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Global Milk Powder Market Growth Factors
Dietary Advantages and Convenience
The milk powder market is expanding due to the increasing demand for convenient, shelf-stable dairy products. As urbanization accelerates and consumer awareness about the health benefits of dairy increases, milk powder has gained popularity, particularly in emerging economies. This is further amplified by the long shelf life of milk powder, which negates the need for refrigeration, making it a valuable product in regions where fresh milk is difficult to store or transport.
In addition, awareness campaigns such as World Milk Day, initiated by the Food and Agriculture Organization (FAO), are driving the promotion of dairy products worldwide. The NIH also supports this trend, recommending increased calcium intake through milk, which further boosts the demand for milk powder.
Multiple Industry Applications
Milk powder is used in a wide array of industries. It serves as a key ingredient in beverages, bakery products, dairy foods, and confectioneries like ice cream and chocolates. It is also used in nutritionally enhanced milk powders, fortified with vitamins and minerals such as calcium, iron, and folate. Leading manufacturers are continually innovating to create specialized products to cater to different consumer needs, such as baby formulas or plant-based dairy alternatives.
Recent innovations include Nestlé’s affordable, nutrient-dense instant powder launched in Central and West Africa in October 2023, and Danone’s plant-based and dairy milk powder blend for babies in Australia and New Zealand in June 2023.
United States Milk Powder Market
The U.S. is a major player in the global milk powder market, benefiting from a strong dairy infrastructure, financial aid for farmers, and competitive export pricing. In 2024, the U.S. is expected to produce 1.30 million tons of skim milk powder, an 11% increase from current levels. This increase is due to higher milk production and the availability of surplus skim milk for drying. U.S. exports are also expected to rise by 3%, primarily driven by increased demand from East and Southeast Asia.
Global Milk Powder Industry Leaders
Key players in the milk powder market include global brands such as Nestlé, Danone, Saputo, Arla Foods, and The Kraft Heinz Company. These companies are continuously expanding their product offerings and strengthening their market presence through innovations and strategic acquisitions.
- Nestlé introduced a new line of milk powder called N3 in China, fortified with essential nutrients, targeting families seeking balanced diets.
- Danone launched an affordable 600g Cow & Gate Follow-on Milk powder in the UK in November 2023.
- Saputo Inc. has made several strategic acquisitions in the European market to strengthen its position.
- Arla Foods expanded its private label capabilities to cater to growing demand for powdered milk in aging populations.
Market Segmentation
By Type
- Whole Milk Powder
- Skimmed Milk Powder
- Dairy Whitener Powder
- Buttermilk Powder
- Fat-Filled Milk Powder
- Other Milk Powder
By Application
- Nutritional Food
- Infant Formulas
- Confectionaries
- Baked Goods
- Savories
- Others
Related Report:
Saudi Arabia Milk Powder Market
United States Milk Powder Market
By Region
- North America (United States, Canada)
- Europe (Germany, UK, France, Italy, Spain, Switzerland)
- Asia Pacific (Japan, China, India, South Korea, Indonesia, Australia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, South Africa)
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