The global whole milk powder market is projected to achieve a size of USD 8,491.6 million by 2024 and is expected to grow to USD 11,742 million by 2034. Sales worldwide are forecasted to increase at a compound annual growth rate (CAGR) of 3.3% over the entire period.
The whole milk powder sector plays a crucial role in the global dairy industry, providing a stable, long-lasting option compared to fresh milk. This characteristic makes it highly favored by consumers and manufacturers alike.
Increasing consumer awareness about health is another key factor driving the market. Whole milk powder is valued for its rich content of protein, calcium, and essential vitamins, perfectly meeting the growing demand for nutritious food choices.
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The product's utilization in diverse food categories such as bakery goods, confectionery, and infant formula is a significant factor driving its growth. Continued application across these sectors is expected to fuel expansion within the whole milk powder industry.
As consumers increasingly prioritize convenience and nutrition, whole milk powder is set for sustained growth in the coming years. The Asia Pacific region, fueled by a growing middle class and higher disposable incomes, is anticipated to witness substantial sectoral expansion. Consumers in this region are actively seeking convenient and nutritious food solutions that perfectly complement the advantages offered by whole milk powder.
Competitive Landscape
Companies are actively developing new and innovative whole milk powder products to meet changing consumer preferences. This includes offerings such as organic whole milk powder, lactose-free options, and milk powder fortified with additional vitamins and minerals.
Leading players in the whole milk powder market are investing in advanced manufacturing processes and rigorous quality control measures to tailor their products to the exacting standards of food manufacturers and consumers. Additionally, these companies are actively exploring opportunities in emerging markets where there is a rising demand for dairy products. This may include establishing local production facilities or developing efficient export channels to capitalize on growing consumer interest.
To enhance their market share, companies are proactively engaging in collaborations with distributors, retailers, and other stakeholders across the food supply chain. These partnerships broaden their distribution networks and extend the availability of milk powder products to a wider consumer base.
Leading Whole Milk Powder Brands
- Lactalis International
- Nestlé S.A.
- Fonterra Co-operative Group Limited
- Royal FrieslandCampina N.V. and Danone S.A.
- Agri-Dairy Products, Inc.
- Adiplus S.A.C.
- All American Foods, Inc.
- Others
Industry Updates
- In January 2024, Nuchev, an Australian-based infant goat formula specialist, introduced its first bovine product for adults and older children.
- In September 2023, Löwenzahn Organics, a German brand, released its baby milk products line crafted from whole cow's milk. Thereby, offering an alternative to conventionally used skimmed milk. The brand is also the first to bring such an offering to Germany.
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Key Segments of the Market Report
By Source:
Whole milk powder market, by source, is segmented into cows, buffalos, goats, sheep, and donkeys.
By End Use:
End users of whole milk powder include dairy products, confectionery, bakery, and infant formula. The dairy products segment is further divided into ice cream, beverages, and yogurt. The confectionery segment is divided into candies, chocolates, and aerated confections. The bakery segment is divided into bread, biscuits, pastries, and cakes.
By Distribution Channel:
The product is sold via direct/B2B and indirect/B2C channels. The latter is divided into hospital pharmacies, retail pharmacies, hypermarkets/supermarkets, convenience stores, online retail, and others.
By Region:
Analysis has been carried out in key countries of North America, Latin America, Europe, East Asia, South Asia, the Middle East and Africa, and Oceania.
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