PUBLISHER: IMARC | PRODUCT CODE: 1660962
PUBLISHER: IMARC | PRODUCT CODE: 1660962
The global milk powder market size reached USD 36.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 58.4 Billion by 2033, exhibiting a growth rate (CAGR) of 5.4% during 2025-2033. Escalating product demand due to rising global population and urbanization, the burgeoning infant formula sector, increasing health consciousness boosting dietary supplement intake, the expansion of the bakery and confectionery industries, and enhanced dairy technology are some of the factors fueling the market growth.
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.
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.
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.
On the basis of the function, milk powder is widely utilized for emulsification, foaming, flavouring, and thickening.
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.