Market Overview
According to MRFR’s analysis, the Global Whole Milk Powder Market 2020 is predicted to mature at a considerable CAGR of 3.6% and secure a value of USD 23.13 billion by 2026.
Market Highlights
The global market for whole milk powder is expected to grow at a significant rate over the forecast period. Wide application scope of whole milk powder and increased chocolate consumption are the key drivers for boosting the growth of the entire global milk powder market. Rising lactose intolerance and fluctuating prices of raw materials, however, are expected to limit market growth. New revenue pockets in emerging economies and rising demand for organic foodstuffs are expected to create profitable growth opportunities for whole milk powder producers over the forecast period. Whole milk powder discovers opportunities in diverse segments of the food & beverage industry, since it can be stored without loss of quality for about a year. Thus, the longer shelf-life of whole milk products helps to increase their application in different industries, as consumer demand for products with longer shelf-life increases.
In addition, the convenience of whole milk powder in transport, handling , processing, and product formulation also drives its application in various industries. Such a broad scope of whole milk powder drives the global whole milk powder market to grow. Moreover, in recent times, the demand for whole milk powder has risen manifold because its long shelf-life has made it a prioritized commodity during the global COVID 19 pandemic.
Key Players
The eminent players in the global whole milk powder market include Lactalis Group (France), Fonterra Co-operative Group Limited (New Zealand), Dairy Farmers of America, Inc. (US), Arla Foods amba (Denmark), Glanbia plc (Ireland), Agropur (Canada), Westland Milk Products (New Zealand), Carbery Group Ltd. (Ireland), California Dairies, Inc. (US), and Maple Island, Inc. (US).
Market Segmentation:
Based on the drying method, the global whole milk powder market has been segmented into freeze-drying, spray drying, and others. In 2019, the spray drying segment led the market.
Based on the category, the market has been divided into conventional and organic. The organic segment is projected to register a higher growth rate over the prognosis period.
Based on the application, the market has been segmented as sweet & savory snacks, bakery & confectionery, dairy & frozen desserts, RTE & RTC meals, infant nutrition, beverages, and others. The bakery & confectionery section is further divided into baked products, chocolates & candies, and others. The bakery & confectionery segment accounted for the major revenue share of the global whole milk powder market in 2019.
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Regional Analysis
The global demand for whole milk powder is divided by country into North America, Europe , Asia-Pacific and the rest of the world.
Asia-Pacific represented the largest market share in 2019 , representing a market share of 49.43 per cent. The easy accessibility of milk-based products and the increase in marketing campaigns of major food processors in emerging economies, including India and China, has resulted in a greater level of consumer awareness of the benefits of whole milk powder, which leads to market growth in the Asia-Pacific region.
However, during the forecast period Europe is expected to register the highest CAGR. The increasing demand in Europe for protein-rich dairy products has resulted in the incorporation of whole milk powder into various dairy products, such as yogurt , cheese and ice cream. Germany, France , and Italy are the major markets at country level that drive the growth of the entire European milk powder market.
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Whole milk powder market share Overview:The global whole milk powder market share will grow at a CAGR of 3.6% during the forecast period 2019 to 2026.
The market for whole milk powder is set to reach US$23,131.9 million by 2026.
The whole milk powder market share research report presents factors such as high maintenance cost that could slow down the whole milk powder market share's growth.Access Report Details @ https://www.marketresearchfuture.com/reports/whole-milk-powder-market-1831Market Segmentation:The whole milk powder market share has been segmented into application, drying method, and category.
The global market for whole milk powder is further segmented based on application into bakery & confectionery (chocolates & candies, baked products and others), dairy & frozen desserts, sweet & savory snacks, infant nutrition, RTE & RTC meals, beverages and others.
The application, drying method, and category segments spread across the whole milk powder market share along with the subsegments are studied.
The whole milk powder market share research report reveals that businesses functioning in the whole milk powder market share could be supported by demand across the food sector as well as beverages sector as well as the growing demand for healthy foods during the forecast period.
Jun 07, 2019 (The Expresswire via COMTEX) -- Industrial Whole Milk Powder Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
GlobalWhole Milk Powder Market 2019Industry Research Report is a professional and in-depth study on the current state of the Global Whole Milk Powder industry.
Remote locations with a limited supply of raw milk, owing to insufficient infrastructure and transportation facilities.
The Global Whole Milk Powder market 2019 research provides a basic overview of the industry including definitions, classifications, applications and industry chain structure.
Vendors can potentially tap this fast-growing and young population, which can drive expenditure from consumers on varied categories such as clothing, education, technologies, and eateries.
the expenditure on whole milk powder is also expected to increase.
