Whole Milk Powder Market – Overview
The global Whole Milk Powder Market is expected to register 5.26% CAGR from 2019 to 2024 and reach USD 23.34 billion by the end of 2024. The demand for healthy convenience milk and dairy products is increasing. The whole milk powder is convenient as there is take extra care to preserve milk and it has better shelf life compare to liquid milk. The number of women and men working is on increase, so need for such convenience is the need of the day. The trend of making dairy confectioneries, with healthy ingredients is easy to make dairy products which will increase the sales of whole milk powder in upcoming years. Countries where there is shortage of milk resources, nutritional dairy alternatives are preferred which is creating an opportunity for key players to penetrate the market.
The outlook of the emerging markets transportation services industry is strong which will play a key role in Whole Milk Powder Market By Application in upcoming years. Emerging markets are expected to grow at a rate significant rate from last few years, as logistics and manufacturing costs continue to rise in traditionally popular areas such as China, new emerging markets take on increasing importance for the supply chain. Australian manufacturers produce a range of whole milk powders. The technology used in the production has seen the range of specifications available from Australian manufacturers expand in line with customers’ needs which will play key role in upcoming years.
Whole Milk Powder Market – Competitive Analysis
The companies which are involved in R&D activities have launched their products from past few years. Most of the product launched by key players are fortified whole milk powder which have more nutritional value. Majority of the players in the whole milk powder market are concentrated in the Asia-Pacific region in terms of supply, however whole milk powder is in more demand in the Asia and North America region. To get edge over competitors, the companies are more focused on innovation in flavors and packaging.
The key players profiled in whole milk powder are Arla Foods amba (Denmark), Dairy Farmers of America Inc. (US), Danone S.A. (France), Dean Foods Company (US), Fonterra Co-operative Group (New Zealand), Kraft Foods Group, Inc. (US), Lactalis Group (France), Nestlé S.A. (Switzerland), Saputo Inc. (Canada), Schreiber Foods Inc. (US), Adiplus S.A.C. (US)
Whole Milk Powder Market – Regional Analysis
APAC will witness maximum growth in the confectionery application followed by North America. Likewise, volume wise market size will continue to be higher under APAC region major share. With increasing disposable incomes in India and China and growing demand for infant formula and dairy products will drive higher demand for whole milk powder. Europe will witness maximum growth in the bakery application followed by APAC. Likewise, volume wise market size will continue to be higher under APAC region with major market share.
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