Dry whole milk powder market Size, Share, Growth, and Industry Analysis, By Grade (Regular, Instant, UHT, Caramelized, Organic), By Application (Home Reconstitutions, Dairy Whiteners, Bakery and Confectionery, Desserts, Ice-cream, Dairy Blends, Snacks, Nutritional Supplements and Others.), and Regional Forecast to 2028

Updated On: 15 April 2024

Report Overview

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The global dry whole milk powder market size was USD 2644.1 million in 2022 and is expected to reach USD 3066.4 million by 2028, exhibiting a CAGR of 2.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Dry whole milk powder is a milk product that is made by evaporating milk to remove the water. The resulting powder contains the same nutrients as fresh milk, but in a concentrated form. It is a shelf-stable product that can be stored for long periods of time. It is also a relatively inexpensive ingredient, which makes it a popular choice for manufacturers of food and beverage products.

It is a versatile ingredient that can be used in a variety of food and beverage products. It is a major ingredient in infant formula, and it is also used in bakery products, confectionery products, processed foods, and dairy-free products.

COVID-19 Impact: Pandemic Increased the Market Demand owing to Restrictions Imposed

The COVID-19 pandemic has had a significant impact on the dry whole milk powder market share. The closure of restaurants and other foodservice businesses due to the pandemic led to a significant reduction in the demand for it. This is because it is a major ingredient in many foodservice products, such as milkshakes, coffee drinks, and desserts. The lockdown measures implemented by governments to control the spread of the virus also disrupted the supply chain. This is because the lockdown measures made it difficult for dairy farmers to transport milk to processing plants and for processing plants to distribute it to customers. The reduced demand and disrupted supply chain led to an increase in the prices. This made it more expensive for manufacturers to use it in their products, which could lead to higher prices for consumers.

Latest Trends

"Growing Demand for Infant Formula is expected to Fuel the Growth in the Market"

It is a major ingredient in infant formula. The increasing demand for infant formula is driving the demand for it. Infant formula is a milk substitute that is designed to meet the nutritional needs of infants. It is often used when breastfeeding is not possible or when a mother chooses not to breastfeed. More and more mothers are working outside the home, which makes it difficult for them to breastfeed. Parents are becoming more aware of the importance of providing their infants with a nutritious diet. Single parents may not have the time or resources to breastfeed their infants. Premature infants often need to be fed with infant formula. The growing demand for infant formula is driving the demand for it. This is because this powder is a major ingredient in infant formula. The demand for dry whole milk powder is expected to continue to grow in the coming years, as the demand for infant formula continues to grow.

Segmentation

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• By Grade Analysis

According to type, the market can be segmented into regular, instant, UHT, caramelized, and organic.

• By Application Analysis

Based on age, the market can be divided into home reconstitutions, dairy whiteners, bakery and confectionery, desserts, ice-cream, dairy blends, snacks, nutritional supplements and others.

Driving Factors

"Increasing Demand for Convenience Foods to Foster the Market Growth"

Convenience foods are food products that are ready to eat or heat and eat. They are becoming increasingly popular due to the busy lifestyles of many people. Dry whole milk powder is a convenient and versatile ingredient that can be used in a variety of convenience foods, such as instant noodles, soups, and sauces. This is driving the demand for this powder in the food and beverage industry. People are increasingly busy with work, family, and other commitments. This leaves them with less time to cook from scratch. People are also eating out more often, which is driving the demand for convenient food products that can be easily prepared at home. The disposable income of people is also rising, which is making them more willing to spend on convenience foods.

"Growing Popularity of Dairy-Free Products to Result in the Expansion of the Market"

There is a growing trend towards consuming dairy-free products due to lactose intolerance, allergies, or personal preferences. Dairy-free products are made without dairy ingredients, such as milk, cheese, and yogurt. Dry whole milk powder can be used to make dairy-free products, such as vegan cheese and yogurt. This is driving the demand for dry whole milk powder in the food and beverage industry. Lactose intolerance is a condition in which people cannot digest lactose, a sugar found in milk. This condition is estimated to affect about 75% of the world's population. Allergies to dairy products are also becoming more common. These allergies can cause symptoms such as hives, itching, and difficulty breathing. Vegans and plant-based dieters do not consume any animal products, including dairy products.

Restraining Factor

"Health Concerns To Hamper The Market Growth"

Some consumers are concerned about the health risks associated with consuming dry whole milk powder. These health concerns can be a restraining factor for the market. Some consumers may be reluctant to consume it due to these concerns.

Regional Insights

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"Asia Pacific To Lead The Market Owing To Growing Popularity Of Convenience Foods"

Asia Pacific region has shown the highest dry whole milk powder market growth. Convenience foods are becoming increasingly popular in Asia Pacific due to the busy lifestyles of many people. It is a convenient and versatile ingredient that can be used in a variety of convenience foods.

Key Industry Players

"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Nestle (Switzerland)
• Lactalis (France)
• Clover Fonterra (New Zealand)
• FrieslandCampina (Netherlands)
• Danone (France)
• Danadairy (U.S.)
• Saputoingredients (Canada)
• Amul (India)

Report Coverage

This report examines an understanding of the dry whole milk powder market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.