Milk Powder Market Size, Share, Trends, Industry Insights, Business Opportunities and Forecast 2023-2028

Milk Powder Market Size, Share, Trends, Industry Insights, Business Opportunities and Forecast 2023-2028
By the IMARC Group, The milk powder market is expected to reach US$ 47.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

According to IMARC Group’s latest report, titled Milk Powder Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global milk powder market size reached US$ 32.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Milk powder is a dairy product made by dehydrating fresh milk through a process of evaporation. The liquid milk is first pasteurized, then evaporated to remove the water content until it becomes a dry powder. This powder can be stored for long periods without refrigeration and is often used as a convenient substitute for fresh milk. Milk powder is available in various forms, such as whole milk powder, skimmed milk powder, and buttermilk powder. It is commonly used in the food and beverage (F&B) industry as an ingredient in baked goods, confectioneries, and baby formulas, as well as in households for cooking, baking, and making milk beverages.

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Milk Powder Market Trends:

The rising usage of milk powder in infant foods represents a significant factor driving the market growth. In addition to this, the increasing awareness regarding fitness among consumers is contributing to the growth of the market as it is facilitating the product sales significantly. In line with this, the rise in the demand for high nutritional products is boosting the market growth. Moreover, technological advancements enabling efficient production, sophisticated packaging and design, product portfolio expansion, effective operational maintenance, and sales monitoring, are further creating a positive outlook for the market across the globe.

Milk Powder Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the milk powder market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include: 

  • Nestlé 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.


Key Market Segmentation:

The report has segmented the milk powder market on the basis of product type, function, application and region.

Breakup by Product Type:

  • Whole Milk Powder
  • Skimmed Milk Powder


Breakup by Function:

  • Emulsification
  • Foaming
  • Flavouring
  • Thickening


Breakup by Application:

  • Infant Formula
  • Confectionery
  • Sports and Nutrition Foods
  • Bakery Products
  • Dry Mixes
  • Fermented Milk Products
  • Meat Products
  • Others


Regional Insights:

  • European Union
  • New Zealand
  • China
  • United States
  • Brazil
  • Others


Explore Full Report with TOC & List of Figures:

Key Highlights of the Report:

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape


If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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