Global Milk Powder Market was valued at US$ XX Bn in 2017 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX % during a forecast period.
Milk powder is a dry dairy product, mass-produced by dehydrating milk using evaporation. The purpose of making milk powder is to surge the shelf life of milk without using the refrigerator.
The main objective behind the driving the growth in the global milk powder market is increasing in the production of the dried milk, which is expected to raise the shelf life that can be stored at room temperature. It also helps to and to reduce up transportation and storage costs. The prominent factors that are accountable for the growth of the market include an upsurge in the disposable income of population living in developing countries across the globe and increasing adoption of the product as a substitute to milk.
The factors that are acting as major footraces in the growth of the market contain increasing concerns for ultra-high temperature milk and employment of norms and regulations by the government authorities and dwindling prices and costs of dairy products. All these factors are turning great challenges for the key players.
The objective of the report is to present a comprehensive assessment of the Global Milk Powder Market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global milk powder market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Whole milk powder is expected to hold substantial growth in the global milk powder market. The growth in the market is attributed to its wide usage in the manufacturing ingredient in many industries like bakery & confectionery, ice cream & desserts, and dietary supplements. Additionally, development in focus on the benefits of dairy products and rising health awareness is expected to boost the growth of the market. Rapid urbanization and increasing need for convenience are also expected to boom the global whole milk powder market.
Hypermarkets and supermarkets are expected to share a major market share in the global milk powder market. The growth of the structured retail sector in developing countries is driving the fame of hypermarkets and supermarkets distribution channel, which sells milk powder. The countries such as Indonesia, Malaysia, the Philippines, and Thailand is witnessing an enlarged penetration of modern retail chains. Additionally, the influx of consumer is expected to increase the growth in the market by this segment during the forecast period owing to these stores offer a wide range of products and in-store discounts.
Geographically, Asia Pacific is expected to share significant growth in the global milk powder market. The growth in the market is attributed to the increasing demand for milk powder in this region. The increase in the ingestion of dairy products is improving the livelihoods of dairy farmers in the region. Milk powder is widely used as a substitute for liquid milk in the production of sweets and bakery products. Expanding population base, increase in milk production, and mass urbanization is expected to drive the market’s growth in the region during the forecasted period.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Scope of the report for Global Milk Powder Market
Global Milk Powder Market, By Type
• Whole Milk Powder
• Skimmed Milk Powder
• Dairy Whitener
• Buttermilk Powder
• Fat Filled Milk Powder
Global Milk Powder Market, By Application
• Nutritional Food
• Infant Formulas
• Baked Sweets & Savories
Global Milk Powder Market, By Distribution channel
• Hypermarkets and supermarkets
• Convenience stores
• Food and drink specialists
Global Milk Powder Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
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