PUBLISHER: IMARC | PRODUCT CODE: 1451080
PUBLISHER: IMARC | PRODUCT CODE: 1451080
Milk Powder Market Report by Product Type, Function, Application, and Region 2024-2032
The global milk powder market size reached US$ 34.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 57.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Milk powder is a concentrated form of milk that is generally prepared by dehydrating liquefied milk via spray drying methods until it changes into a powder. Since it is convenient to use and has a longer shelf life, it is widely utilized by consumers as an alternative for fresh milk in a wide range of food preparation, including confectionaries, infant formulas, savory items and desserts. Its ability to bind water, along with its foaming and emulsifying properties, make milk powders an important food ingredient. At present, milk powder is consumed globally due to the presence of several essential nutrients, such as protein, vitamins, calcium, iron, sodium, cholesterol, potassium, fat and carbohydrates, that are beneficial for overall health development.
Milk Powder Market Trends:
The increasing demand for convenient food products among the masses is one of the key factors driving the sales of milk powder. Since it can be stored without refrigeration and easily transported without the need for cold chain infrastructure, this is providing an impetus to the market. Moreover, the widespread product adoption across the food and beverage industry is impacting the market growth favorably. Furthermore, significant developments in the e-commerce infrastructure, improvements in the supply chain distribution channels and the advent of the online delivery models are creating a positive market outlook. Additionally, continual technological advancements in the production processes for retaining the nutrient content of milk are considered to be other growth-inducing factors. The market is further driven by the rising investments by key players in the development of aggressive marketing strategies, promotional campaigns, celebrity endorsements and innovative packaging solutions. Other factors, including rapid urbanization, the growing health consciousness among individuals and the changing dietary patterns of the masses, are also favorably influencing the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global milk powder market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type, function and application.
Breakup by Product Type:
Whole Milk Powder
Skimmed Milk Powder
Presently, whole milk powder accounts for the majority of the total market share as it is widely used in the formulation of baby food and infant formulas.
Breakup by Function:
Emulsification
Foaming
Flavouring
Thickening
On the basis of the function, milk powder is widely utilized for emulsification, foaming, flavouring, and thickening.
Breakup by Application:
Infant Formula
Confectionery
Sports and Nutrition Foods
Bakery Products
Dry Mixes
Fermented Milk Products
Meat Products
Others
Based on the application, milk powder is employed in the preparation of infant formula, confectionery, sports and nutrition foods, bakery products, dry mixes, fermented milk products, meat products and others.
Regional Insights:
European Union
New Zealand
China
United States
Brazil
Others
At present, the European Union holds the leading position in the market.
Competitive Landscape:
The market is highly fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Nestle 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.
Parmalat S.p.A.
This report provides a deep insight into the global milk powder market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a milk powder manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the milk powder industry in any manner.
Key Questions Answered in This Report
- 1. What was the size of the global milk powder market in 2023?
- 2. What is the expected growth rate of the global milk powder market during 2024-2032?
- 3. What are the key factors driving the global milk powder market?
- 4. What has been the impact of COVID-19 on the global milk powder market?
- 5. What is the breakup of the global milk powder market based on the product type?
- 6. What is the breakup of the global milk powder market based on the function?
- 7. What is the breakup of the global milk powder market based on the application?
- 8. What are the key regions in the global milk powder market?
- 9. Who are the key players/companies in the global milk powder market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Milk Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Production Volume Trends
- 5.2.2 Consumption Volume Trends
- 5.3 Price Trends
- 5.4 Market Breakup by Region
- 5.5 Market Forecast
6 Global Milk Powder Industry
- 6.1 Market Overview
- 6.2 Market Performance
- 6.2.1 Production Volume Trends
- 6.2.2 Production Value Trends
- 6.3 Impact of COVID-19
- 6.4 Price Analysis
- 6.4.1 Key Price Indicators
- 6.4.2 Price Structure
- 6.4.3 Price Trends
- 6.5 Market Breakup by Product Type
- 6.6 Market Breakup by Function
- 6.7 Market Breakup by Application
- 6.8 Market Breakup by Region
- 6.9 Market Forecast
- 6.10 SWOT Analysis
- 6.10.1 Overview
- 6.10.2 Strengths
- 6.10.3 Weaknesses
- 6.10.4 Opportunities
- 6.10.5 Threats
- 6.11 Value Chain Analysis
- 6.11.1 Raw Material Procurement
- 6.11.2 Manufacturing
- 6.11.3 Marketing
- 6.11.4 Distribution
- 6.11.5 Exports
- 6.11.6 End-Use
- 6.12 Porter's Five Forces Analysis
- 6.12.1 Overview
- 6.12.2 Bargaining Power of Buyers
- 6.12.3 Bargaining Power of Suppliers
- 6.12.4 Degree of Competition
- 6.12.5 Threat of New Entrants
- 6.12.6 Threat of Substitutes
- 6.13 Key Success Factors and Risk Factors
7 Market Breakup by Product Type
- 7.1 Whole Milk Powder
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Skimmed Milk Powder
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Function
- 8.1 Emulsification
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Foaming
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Flavouring
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Thickening
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Application
- 9.1 Infant Formula
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Confectionery
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Sports and Nutrition Foods
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Bakery Products
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Dry Mixes
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Fermented Milk Products
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Meat Products
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 9.8 Others
- 9.8.1 Market Trends
- 9.8.2 Market Forecast
10 Market Breakup by Region
- 10.1 European Union
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 New Zealand
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 China
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 United States
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Brazil
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 10.6 Others
- 10.6.1 Market Trends
- 10.6.2 Market Forecast
11 Competitive Landscape
- 11.1 Market Structure
- 11.2 Key Players
12 Milk Powder Manufacturing Process
- 12.1 Product Overview
- 12.2 Detailed Process Flow
- 12.3 Various Types of Unit Operations Involved
- 12.4 Mass Balance and Raw Material Requirements
13 Project Details, Requirements and Costs Involved
- 13.1 Land Requirements and Expenditures
- 13.2 Construction Requirements and Expenditures
- 13.3 Plant Machinery
- 13.4 Machinery Pictures
- 13.5 Raw Material Requirements and Expenditures
- 13.6 Raw Material and Final Product Pictures
- 13.7 Packaging Requirements and Expenditures
- 13.8 Transportation Requirements and Expenditures
- 13.9 Utility Requirements and Expenditures
- 13.10 Manpower Requirements and Expenditures
- 13.11 Other Capital Investments
14 Loans and Financial Assistance
15 Project Economics
- 15.1 Capital Cost of the Project
- 15.2 Techno-Economic Parameters
- 15.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 15.4 Taxation and Depreciation
- 15.5 Income Projections
- 15.6 Expenditure Projections
- 15.7 Financial Analysis
- 15.8 Profit Analysis
16 Key Player Profiles
- 16.1 Nestle S.A.
- 16.2 Danone S.A.
- 16.3 Lactalis Group
- 16.4 Fonterra Co-operative Group Limited
- 16.5 Royal FrieslandCampina N.V.
- 16.6 Dean Foods
- 16.7 Arla Foods
- 16.8 Dairy Farmers of America Inc.
- 16.9 Kraft Heinz Company
- 16.10 Saputo, Inc.
- 16.11 Parmalat S.p.A.
List of Figures
- Figure 1: Global: Milk Powder Market: Major Drivers and Challenges
- Figure 2: Global: Fluid Milk Market: Production Volume (in Million Tons), 2018-2023
- Figure 3: Global: Fluid Milk Market: Average Prices (in US$/Ton) 2018-2023
- Figure 4: Global: Fluid Milk Market: Breakup by Region (in %), 2023
- Figure 5: Global: Fluid Milk Market Forecast: Production Volume (in Million Tons), 2024-2032
- Figure 6: Global: Milk Powder Market: Production Volume (in Million Tons), 2018-2023
- Figure 7: Global: Milk Powder Market: Production Value (in Billion US$), 2018-2023
- Figure 8: Milk Powder Market: Price Structure
- Figure 9: Global: Skimmed Milk Powder and Whole Milk Powder Market: Average Prices (in US$/Ton) 2018-2023
- Figure 10: Global: Skimmed Milk Powder and Whole Milk Powder Market Forecast: Average Prices (in US$/Ton), 2024-2032
- Figure 11: Global: Milk Powder Market: Breakup by Product Type (in %), 2023
- Figure 12: Global: Milk Powder Market: Breakup by Function (in %), 2023
- Figure 13: Global: Milk Powder Market: Breakup by Application (in %), 2023
- Figure 14: Global: Milk Powder Market: Consumption Breakup by Region (in %), 2023
- Figure 15: Global: Milk Powder Market: Production Breakup by Region (in %), 2023
- Figure 16: Global: Milk Powder Market Forecast: Production Volume (in Million Tons), 2024-2032
- Figure 17: Global: Milk Powder Market Forecast: Production Value (in Billion US$), 2024-2032
- Figure 18: Global: Milk Powder Industry: SWOT Analysis
- Figure 19: Global: Milk Powder Industry: Value Chain Analysis
- Figure 20: Global: Milk Powder Industry: Porter's Five Forces Analysis
- Figure 21: Global: Whole Milk Powder Market: Production Volume Trends (in Million Tons), 2018-2023
- Figure 22: Global: Whole Milk Powder Market Forecast: Production Volume Trends (in Million Tons), 2024-2032
- Figure 23: Global: Whole Milk Powder Market: Production and Consumption by Region (in %), 2023
- Figure 24: Global: Skimmed Milk Powder Market: Production Volume Trends (in Million Tons), 2018-2023
- Figure 25: Global: Skimmed Milk Powder Market: Production and Consumption by Region (in %), 2023
- Figure 26: Global: Skimmed Milk Powder Market Forecast: Production Volume Trends (in Million Tons), 2024-2032
- Figure 27: Global: Milk Powder Market (Emulsification): Volume Trends (in Million Tons), 2018 & 2023
- Figure 28: Global: Milk Powder Market Forecast (Emulsification): Volume Trends (in Million Tons), 2024-2032
- Figure 29: Global: Milk Powder Market (Foaming): Volume Trends (in Million Tons), 2018 & 2023
- Figure 30: Global: Milk Powder Market Forecast (Foaming): Volume Trends (in Million Tons), 2024-2032
- Figure 31: Global: Milk Powder Market (Flavouring): Volume Trends (in Million Tons), 2018 & 2023
- Figure 32: Global: Milk Powder Market Forecast (Flavouring): Volume Trends (in Million Tons), 2024-2032
- Figure 33: Global: Milk Powder Market (Thickening): Volume Trends (in Million Tons), 2018 & 2023
- Figure 34: Global: Milk Powder Market Forecast (Thickening): Volume Trends (in Million Tons), 2024-2032
- Figure 35: Global: Milk Powder Market (Application in Infant Formula): Volume Trends (in Million Tons), 2018 & 2023
- Figure 36: Global: Milk Powder Market Forecast (Application in Infant Formula): Volume Trends (in Million Tons), 2024-2032
- Figure 37: Global: Milk Powder Market (Application in Confectionery): Volume Trends (in Million Tons), 2018 & 2023
- Figure 38: Global: Milk Powder Market Forecast (Application in Confectionery): Volume Trends (in Million Tons), 2024-2032
- Figure 39: Global: Milk Powder Market (Application in Sports and Nutrition Foods): Volume Trends (in Million Tons), 2018 & 2023
- Figure 40: Global: Milk Powder Market Forecast (Application in Sports and Nutrition Foods): Volume Trends (in Million Tons), 2024-2032
- Figure 41: Global: Milk Powder Market (Application in Bakery Products): Volume Trends (in Million Tons), 2018 & 2023
- Figure 42: Global: Milk Powder Market Forecast (Application in Bakery Products): Volume Trends (in Million Tons), 2024-2032
- Figure 43: Global: Milk Powder Market (Application in Dry Mixes): Volume Trends (in Million Tons), 2018 & 2023
- Figure 44: Global: Milk Powder Market Forecast (Application in Dry Mixes): Volume Trends (in Million Tons), 2024-2032
- Figure 45: Global: Milk Powder Market (Application in Fermented Milk Products): Volume Trends (in Million Tons), 2018 & 2023
- Figure 46: Global: Milk Powder Market Forecast (Application in Fermented Milk Products): Volume Trends (in Million Tons), 2024-2032
- Figure 47: Global: Milk Powder Market (Application in Meat Products): Volume Trends (in Million Tons), 2018 & 2023
- Figure 48: Global: Milk Powder Market Forecast (Application in Meat Products): Volume Trends (in Million Tons), 2024-2032
- Figure 49: Global: Milk Powder Market (Other Applications): Volume Trends (in Million Tons), 2018 & 2023
- Figure 50: Global: Milk Powder Market Forecast (Other Applications): Volume Trends (in Million Tons), 2024-2032
- Figure 51: European Union: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 52: European Union: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 53: New Zealand: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 54: New Zealand: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 55: China: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 56: China: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 57: United States: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 58: United States: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 59: Brazil: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 60: Brazil: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 61: Others: Milk Powder Market (in Million Tons), 2018 & 2023
- Figure 62: Others: Milk Powder Market Forecast (in Million Tons), 2024-2032
- Figure 63: Skimmed Milk Powder Manufacturing Plant: Detailed Process Flow
- Figure 64: Skimmed Milk Powder Manufacturing: Conversion Rate of Feedstocks
- Figure 65: Skimmed Milk Powder Manufacturing Plant: Proposed Plant Layout
- Figure 66: Skimmed Milk Powder Manufacturing Plant: Breakup of Capital Costs (in %)
- Figure 67: Skimmed Milk Powder Industry: Profit Margins at Various Levels of the Supply Chain
- Figure 68: Skimmed Milk Powder Manufacturing: Breakup by Total Production Cost (in %)
List of Tables
- Table 1: Global: Milk Powder Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Milk Powder Market Forecast: Breakup by Product Type (in Million Tons), 2024-2032
- Table 3: Global: Milk Powder Market Forecast: Breakup by Function (in Million Tons), 2024-2032
- Table 4: Global: Milk Powder Market Forecast: Breakup by Application (in Million Tons), 2024-2032
- Table 5: Global: Milk Powder Market Forecast: Breakup by Region (in Million Tons), 2024-2032
- Table 6: Global: Milk Powder Market: Competitive Structure
- Table 7: Global: Top 10 Dairy Companies by Turnover (in US$ Billion)
- Table 8: Skimmed Milk Powder Manufacturing Plant: Costs Related to Land and Site Development (in US$)
- Table 9: Skimmed Milk Powder Manufacturing Plant: Costs Related to Civil Works (in US$)
- Table 10: Skimmed Milk Powder Processing Plant: Milk Reception Section Equipment Costs (in US$)
- Table 11: Skimmed Milk Powder Processing Plant: Milk Processing Section Equipment Costs (in US$)
- Table 12: Skimmed Milk Powder Processing Plant: Cream Processing Section Equipment Costs (in US$)
- Table 13: Skimmed Milk Powder Processing Plant: CIP (Cleaning in Place) Section Equipment Costs (In US$)
- Table 14: Skimmed Milk Powder Processing Plant: Evaporation Section Equipment Costs (In US$)
- Table 15: Skimmed Milk Powder Processing Plant: Drying Section Equipment Costs (In US$)
- Table 16: Milk Powder Manufacturing Plant: Summary of Machinery Costs (in US$)
- Table 17: Skimmed Milk Powder Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (US$/Ton)
- Table 18: Skimmed Milk Powder Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
- Table 19: Skimmed Milk Powder Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
- Table 20: Details of Financial Assistance Offered by Financial Institutions
- Table 21: Skimmed Milk Powder Manufacturing Plant: Capital Costs (in US$)
- Table 22: Skimmed Milk Powder Manufacturing Plant: Techno-Economic Parameters
- Table 23: Skimmed Milk Powder Manufacturing Plant: Taxation and Depreciation (in US$)
- Table 24: Skimmed Milk Powder Manufacturing Plant: Income Projections (in US$)
- Table 25: Skimmed Milk Powder Manufacturing Plant: Expenditure Projections (in US$)
- Table 26: Skimmed Milk Powder Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
- Table 27: Skimmed Milk Powder Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
- Table 28: Skimmed Milk Powder Manufacturing Plant: Profit and Loss Account (in US$)
