The Global Milk Powder Market size is expected to reach $43.8 billion by 2030, rising at a market growth of 4.7% CAGR during the forecast period.
Buttermilk powder offers convenience and extended shelf life compared to liquid buttermilk. Therefore, the Buttermilk powdered segment captured 4.6% revenue share in 2022. It can be easily stored, transported, and reconstituted with water, making it a convenient option for food manufacturers, bakeries, and consumers. Hence, the longer shelf life is driving the growth of the segment.
Increasing birth rates and population growth, particularly in developing countries and emerging economies, drive infant formula powder demand. As more babies are born each year, the demand for safe and nutritionally balanced infant nutrition products, including formula continues to grow. Urbanization and changing lifestyles, characterized by increased female workforce participation and busier schedules, contribute to the growing demand for infant formula powder.
Additionally, Trade Administration (ITA), China is the largest e-commerce sector globally, generating almost 50 percent of the world's transactions. China's online retail transactions reached more than 710 million digital buyers and $2.29 trillion in 2020, with forecasts to reach $3.56 trillion by 2024. In 2021, China became the largest e-commerce sector, with sales of $1.5 trillion. Additionally, there were 2,484 department stores and 62,377 specialized stores throughout Mexico. More than 56 percent of the retail sector is covered by informal establishments (mobile street vendors and open public markets) that traditionally distribute local products. These numbers illustrate the growth of various distribution channels around the world.
However, Price fluctuations of raw materials, like dairy milk, affect the market's general demand and supply dynamics. When the prices of raw milk decrease, it can incentivize its manufacturers to increase production, leading to higher supply and potentially lower prices for its products. Raw milk is the primary raw material used to produce it. Variations in raw milk prices can directly impact its manufacturers' production costs. Hence, the volatility in prices of raw materials is impeding the market's growth.
By Product Analysis
Based on product type, the market is divided into whole milk powder, skimmed milk powder, dairy whitener, buttermilk powder, fat enriched powder, and others. The skimmed milk powder segment recorded 24.7% revenue share in the market in 2022. With increasing health and nutrition awareness, many consumers are seeking lower-fat alternatives to whole milk products. Skimmed milk powder contains minimal fat content and is perceived as a healthier option than whole product, making it attractive to health-conscious consumers.
By Application Analysis
On the basis of application, the market is segmented into nutrition food, infant formula, sweets & savories, bakery & confectionery, ice-creams, and others. The bakery and confectionery segment recorded 38.2% revenue share in the market in 2022. Milk powder helps improve the texture and moisture retention of baked goods. It contributes to a softer crumb, finer texture, and increased moisture content, resulting in bakery products with better mouthfeel and extended freshness.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region generated 28.8% revenue share in the market. Milk powder offers convenience and extended shelf life compared to liquid milk. Consumers in North America, especially those with demanding schedules, value the convenience of transporting it, which can be stored without refrigeration and utilized as needed.
List of Key Companies Profiled
- Arla Foods, Inc.
- Dairy Farmers of America, Inc.
- Fonterra Co-operative Group Limited
- Nestle S.A.
- Royal FrieslandCampina N.V.
- Saputo, Inc.
- Schreiber Foods, Inc.
- The Kraft Heinz Company
- Danone S.A.
- DANA Dairy Group Ltd.
Global Milk Powder Market Report Segmentation
By Product Type
- Whole Milk Powder
- Skimmed Milk Powder
- Dairy Whitener
- Buttermilk Powder
- Fat Enrich Milk Powder
- Others
By Application
- Bakery & Confectionery
- Infant Formula
- Ice-Creams
- Nutrition Food
- Sweets & Savories
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Milk Powder Market, by Product Type
- 1.4.2Global Milk Powder Market, by Application
- 1.4.3Global Milk Powder Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Global Milk Powder Market by Product Type
- 4.1Global Whole Milk Powder Market by Region
- 4.2Global Skimmed Milk Powder Market by Region
- 4.3Global Dairy Whitener Market by Region
- 4.4Global Buttermilk Powder Market by Region
- 4.5Global Fat Enrich Milk Powder Market by Region
- 4.6Global Others Market by Region
Chapter 5.Global Milk Powder Market by Application
- 5.1Global Bakery & Confectionery Market by Region
- 5.2Global Infant Formula Market by Region
- 5.3Global Ice-Creams Market by Region
- 5.4Global Nutrition Food Market by Region
- 5.5Global Sweets & Savories Market by Region
- 5.6Global Others Market by Region
Chapter 6.Global Milk Powder Market by Region
- 6.1North America Milk Powder Market
- 6.1.1North America Milk Powder Market by Product Type
- 6.1.1.1North America Whole Milk Powder Market by Country
- 6.1.1.2North America Skimmed Milk Powder Market by Country
- 6.1.1.3North America Dairy Whitener Market by Country
- 6.1.1.4North America Buttermilk Powder Market by Country
- 6.1.1.5North America Fat Enrich Milk Powder Market by Country
- 6.1.1.6North America Others Market by Country
- 6.1.2North America Milk Powder Market by Application
- 6.1.2.1North America Bakery & Confectionery Market by Country
- 6.1.2.2North America Infant Formula Market by Country
- 6.1.2.3North America Ice-Creams Market by Country
- 6.1.2.4North America Nutrition Food Market by Country
- 6.1.2.5North America Sweets & Savories Market by Country
- 6.1.2.6North America Others Market by Country
- 6.1.3North America Milk Powder Market by Country
- 6.1.3.1US Milk Powder Market
- 6.1.3.1.1US Milk Powder Market by Product Type
- 6.1.3.1.2US Milk Powder Market by Application
- 6.1.3.2Canada Milk Powder Market
- 6.1.3.2.1Canada Milk Powder Market by Product Type
- 6.1.3.2.2Canada Milk Powder Market by Application
- 6.1.3.3Mexico Milk Powder Market
- 6.1.3.3.1Mexico Milk Powder Market by Product Type
- 6.1.3.3.2Mexico Milk Powder Market by Application
- 6.1.3.4Rest of North America Milk Powder Market
- 6.1.3.4.1Rest of North America Milk Powder Market by Product Type
- 6.1.3.4.2Rest of North America Milk Powder Market by Application
- 6.2Europe Milk Powder Market
- 6.2.1Europe Milk Powder Market by Product Type
- 6.2.1.1Europe Whole Milk Powder Market by Country
- 6.2.1.2Europe Skimmed Milk Powder Market by Country
- 6.2.1.3Europe Dairy Whitener Market by Country
- 6.2.1.4Europe Buttermilk Powder Market by Country
- 6.2.1.5Europe Fat Enrich Milk Powder Market by Country
- 6.2.1.6Europe Others Market by Country
- 6.2.2Europe Milk Powder Market by Application
- 6.2.2.1Europe Bakery & Confectionery Market by Country
- 6.2.2.2Europe Infant Formula Market by Country
- 6.2.2.3Europe Ice-Creams Market by Country
- 6.2.2.4Europe Nutrition Food Market by Country
- 6.2.2.5Europe Sweets & Savories Market by Country
- 6.2.2.6Europe Others Market by Country
- 6.2.3Europe Milk Powder Market by Country
- 6.2.3.1Germany Milk Powder Market
- 6.2.3.1.1Germany Milk Powder Market by Product Type
- 6.2.3.1.2Germany Milk Powder Market by Application
- 6.2.3.2UK Milk Powder Market
- 6.2.3.2.1UK Milk Powder Market by Product Type
- 6.2.3.2.2UK Milk Powder Market by Application
- 6.2.3.3France Milk Powder Market
- 6.2.3.3.1France Milk Powder Market by Product Type
- 6.2.3.3.2France Milk Powder Market by Application
- 6.2.3.4Russia Milk Powder Market
- 6.2.3.4.1Russia Milk Powder Market by Product Type
- 6.2.3.4.2Russia Milk Powder Market by Application
- 6.2.3.5Spain Milk Powder Market
- 6.2.3.5.1Spain Milk Powder Market by Product Type
- 6.2.3.5.2Spain Milk Powder Market by Application
- 6.2.3.6Italy Milk Powder Market
- 6.2.3.6.1Italy Milk Powder Market by Product Type
- 6.2.3.6.2Italy Milk Powder Market by Application
- 6.2.3.7Rest of Europe Milk Powder Market
- 6.2.3.7.1Rest of Europe Milk Powder Market by Product Type
- 6.2.3.7.2Rest of Europe Milk Powder Market by Application
- 6.3Asia Pacific Milk Powder Market
- 6.3.1Asia Pacific Milk Powder Market by Product Type
- 6.3.1.1Asia Pacific Whole Milk Powder Market by Country
- 6.3.1.2Asia Pacific Skimmed Milk Powder Market by Country
- 6.3.1.3Asia Pacific Dairy Whitener Market by Country
- 6.3.1.4Asia Pacific Buttermilk Powder Market by Country
- 6.3.1.5Asia Pacific Fat Enrich Milk Powder Market by Country
- 6.3.1.6Asia Pacific Others Market by Country
- 6.3.2Asia Pacific Milk Powder Market by Application
- 6.3.2.1Asia Pacific Bakery & Confectionery Market by Country
- 6.3.2.2Asia Pacific Infant Formula Market by Country
- 6.3.2.3Asia Pacific Ice-Creams Market by Country
- 6.3.2.4Asia Pacific Nutrition Food Market by Country
- 6.3.2.5Asia Pacific Sweets & Savories Market by Country
- 6.3.2.6Asia Pacific Others Market by Country
- 6.3.3Asia Pacific Milk Powder Market by Country
- 6.3.3.1China Milk Powder Market
- 6.3.3.1.1China Milk Powder Market by Product Type
- 6.3.3.1.2China Milk Powder Market by Application
- 6.3.3.2Japan Milk Powder Market
- 6.3.3.2.1Japan Milk Powder Market by Product Type
- 6.3.3.2.2Japan Milk Powder Market by Application
- 6.3.3.3India Milk Powder Market
- 6.3.3.3.1India Milk Powder Market by Product Type
- 6.3.3.3.2India Milk Powder Market by Application
- 6.3.3.4South Korea Milk Powder Market
- 6.3.3.4.1South Korea Milk Powder Market by Product Type
- 6.3.3.4.2South Korea Milk Powder Market by Application
- 6.3.3.5Australia Milk Powder Market
- 6.3.3.5.1Australia Milk Powder Market by Product Type
- 6.3.3.5.2Australia Milk Powder Market by Application
- 6.3.3.6Malaysia Milk Powder Market
- 6.3.3.6.1Malaysia Milk Powder Market by Product Type
- 6.3.3.6.2Malaysia Milk Powder Market by Application
- 6.3.3.7Rest of Asia Pacific Milk Powder Market
- 6.3.3.7.1Rest of Asia Pacific Milk Powder Market by Product Type
- 6.3.3.7.2Rest of Asia Pacific Milk Powder Market by Application
- 6.4LAMEA Milk Powder Market
- 6.4.1LAMEA Milk Powder Market by Product Type
- 6.4.1.1LAMEA Whole Milk Powder Market by Country
- 6.4.1.2LAMEA Skimmed Milk Powder Market by Country
- 6.4.1.3LAMEA Dairy Whitener Market by Country
- 6.4.1.4LAMEA Buttermilk Powder Market by Country
- 6.4.1.5LAMEA Fat Enrich Milk Powder Market by Country
- 6.4.1.6LAMEA Others Market by Country
- 6.4.2LAMEA Milk Powder Market by Application
- 6.4.2.1LAMEA Bakery & Confectionery Market by Country
- 6.4.2.2LAMEA Infant Formula Market by Country
- 6.4.2.3LAMEA Ice-Creams Market by Country
- 6.4.2.4LAMEA Nutrition Food Market by Country
- 6.4.2.5LAMEA Sweets & Savories Market by Country
- 6.4.2.6LAMEA Others Market by Country
- 6.4.3LAMEA Milk Powder Market by Country
- 6.4.3.1Brazil Milk Powder Market
- 6.4.3.1.1Brazil Milk Powder Market by Product Type
- 6.4.3.1.2Brazil Milk Powder Market by Application
- 6.4.3.2Argentina Milk Powder Market
- 6.4.3.2.1Argentina Milk Powder Market by Product Type
- 6.4.3.2.2Argentina Milk Powder Market by Application
- 6.4.3.3UAE Milk Powder Market
- 6.4.3.3.1UAE Milk Powder Market by Product Type
- 6.4.3.3.2UAE Milk Powder Market by Application
- 6.4.3.4Saudi Arabia Milk Powder Market
- 6.4.3.4.1Saudi Arabia Milk Powder Market by Product Type
- 6.4.3.4.2Saudi Arabia Milk Powder Market by Application
- 6.4.3.5South Africa Milk Powder Market
- 6.4.3.5.1South Africa Milk Powder Market by Product Type
- 6.4.3.5.2South Africa Milk Powder Market by Application
- 6.4.3.6Nigeria Milk Powder Market
- 6.4.3.6.1Nigeria Milk Powder Market by Product Type
- 6.4.3.6.2Nigeria Milk Powder Market by Application
- 6.4.3.7Rest of LAMEA Milk Powder Market
- 6.4.3.7.1Rest of LAMEA Milk Powder Market by Product Type
- 6.4.3.7.2Rest of LAMEA Milk Powder Market by Application
Chapter 7.Company Profiles
- 7.1Arla Foods, Inc.
- 7.1.1Company Overview
- 7.1.2Financial Analysis
- 7.1.3Regional Analysis
- 7.1.4Research & Development Expense
- 7.1.5Recent strategies and developments:
- 7.1.5.1Partnerships, Collaborations, and Agreements:
- 7.1.5.2Acquisition and Mergers:
- 7.1.5.3Geographical Expansions:
- 7.1.6SWOT Analysis
- 7.2Dairy Farmers of America, Inc.
- 7.2.1Company Overview
- 7.2.2SWOT Analysis
- 7.3Fonterra Co-operative Group Limited
- 7.3.1Company Overview
- 7.3.2Financial Analysis
- 7.3.3Regional Analysis
- 7.3.4Research & Development Expense
- 7.3.5SWOT Analysis
- 7.4Nestle S.A
- 7.4.1Company Overview
- 7.4.2Financial Analysis
- 7.4.3Segmental and Regional Analysis
- 7.4.4Research & Development Expenses
- 7.4.5SWOT Analysis
- 7.5Royal FrieslandCampina N.V.
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental and Regional Analysis
- 7.5.4Research & Development Expenses
- 7.5.5SWOT Analysis
- 7.6Saputo, Inc.
- 7.6.1Company overview
- 7.6.2Financial Analysis
- 7.6.3Segmental and Regional Analysis
- 7.6.4SWOT Analysis
- 7.7Schreiber Foods, Inc.
- 7.7.1Company Overview
- 7.7.2SWOT Analysis
- 7.8The Kraft Heinz Company
- 7.8.1Company Overview
- 7.8.2Financial Analysis
- 7.8.3Regional Analysis
- 7.8.4Research & Development Expense
- 7.8.5Recent strategies and developments:
- 7.8.5.1Partnerships, Collaborations, and Agreements:
- 7.8.6SWOT Analysis
- 7.9Danone S.A.
- 7.9.1Company Overview
- 7.9.2Financial Analysis
- 7.9.3Category and Regional Analysis
- 7.9.4SWOT Analysis
- 7.10.DANA Dairy Group Ltd.
- 7.10.1Company Overview
- 7.10.2SWOT Analysis
Chapter 8.Winning Imperatives for Milk Powder Market