USD 35.26 billion
Milk Powder Market Size, Share, and Growth Analysis
Milk Powder Market By Type (Skimmed Milk powder, Whole Milk Powder), By Application (Bakery & Confectionary, Nutritional Food), By Distribution Channel (B2B, B2C), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30I2432 |
Region:
Global |
Published Date: January, 2025
Pages:
196
|Tables:
90
|Figures:
71
Format -
Milk Powder Market Insights
Milk Powder Market size was valued at USD 35.26 billion in 2023 and is poised to grow from USD 36.64 billion in 2024 to USD 49.75 billion by 2032, growing at a CAGR of 3.9% during the forecast period (2025-2032).
The global milk powder market growth is driven by the growing demand for dairy products. It is one of the primary factors, particularly in emerging nations where consumption is being driven by changing dietary habits and rising incomes. Compared to liquid milk, milk powder offers unparalleled convenience and shelf stability, making it easier to carry and store. This characteristic appeals to both consumers and producers. Even in regions where there are not good refrigeration facilities, its long shelf life ensures supply. In addition, milk powder is a favorite for health-conscious consumers as it is rich in essential nutrients. Its nutritional value supports its wide usage in baby formula, dietary supplements, and numerous culinary applications. The fast pace of urbanization and lifestyle shifts are increasing demand for handy food alternatives such as milk powder and driving the need for rapid and dependable solutions.
The food industry also goes a long way in boosting market growth since milk powder is an essential component of baked goods, confections, and other processed dairy products. In addition, the market has several export opportunities. Countries which process milk use their surplus to achieve global demands, which triggers economic growth with new markets open. Countries that process milk use their surplus to achieve global demands, which triggers economic growth with new markets open. These elements together point towards a strong path of development within the global milk powder industry.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Online
Fastest Growth
Offline
Growth Rate
3.9% CAGR
Global Milk Powder Market ($ Bn)
Country Share for North America (%)
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Milk Powder Market Segments Analysis
Global Milk Powder Market is segmented by Type, Application, Distribution Channel and region. Based on Type, the market is segmented into Skimmed Milk powder, Whole Milk Powder, Fat Filled Milk Powder, Dairy Whitener and Other Milk Powder. Based on Application, the market is segmented into Bakery & Confectionary, Nutritional Food, Infant Formulas and Others. Based on Distribution Channel, the market is segmented into B2B and B2C. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product Type
Based on the 2024 global milk powder market forecast, the whole milk powder category dominated the market. Cooling is the process whereby water is separated from whole milk, leaving the natural fat behind. The resultant product is rich and creamy while keeping the full flavor of the milk and all the important nutrients, the fat-soluble vitamins A, D, E, and K. It finds usage in many places in foods such as desserts, sauces, and beverages, which require richness and flavor. It is an ingredient in ice cream, baked goods, and dairy-based confections as well. Its long shelf life and its high convenience value in terms of storage make it an even more worthwhile option, particularly in regions where refrigeration is scarce.
The skimmed milk powder category is expected to lead the market. It is produced by removing most of the fat from milk before it is dried, thus providing a low-calorie, high-nutrient substitute. It is a favorite among customers who are calorie-conscious and health-conscious because, although it contains less fat, it still has high amounts of protein, calcium, and other essential minerals. These include protein shakes, low-fat yogurts, and nutritional supplements for fitness enthusiasts as well as better alternatives. Skimmed milk powder is versatile and even finds application in baking and cooking, where it provides dairy-like benefits without the richness of the fat. It is more convenient as it has a longer shelf life, just like whole milk powder.
Analysis By Distribution Channel
As per the 2024 global milk powder market analysis, the online segment dominated the market. The rising popularity of e-commerce and ease have been driving the recent notable expansion of the online segment. A consumer from the comforts of his or her own home may access a variety of brands, more products, and reviews and can compare prices. Data presence entices busy consumers because of convenience and discounts and especially for promotional offers, subscription models, and direct delivery. Moreover, the flexibility to buy at the customer's convenience increases reachability for that vast audience based in cities.
However, the offline sector, comprising traditional retail forms that include supermarkets and hypermarkets, specialty stores, and local food shops, is expected to lead the market. As customers have to physically check packaging and ensure product quality before buying a product that is not bought online, a significant market still prefers this kind of in-store purchasing experience. This gives offline distribution an edge, where instant access to the product could be a turn-on for customers who want milk powder immediately. There are also loyalty plans and in-store incentives that retailers often use to encourage clients. These channels work together to provide the entire ecosystem that can respond to different tastes and purchasing habits of the customer. To further reach maximum and enhance consumer satisfaction in the developing milk powder market, companies will have to strategically balance their presence on both channels, off and online, as they continue to advance.
Global Milk Powder Market By Distribution Channel
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Milk Powder Market Regional Insights
The high dairy product consumption of the region along with the ever-increasing need for rapid and easy meals is a reason North America dominated the milk powder market in 2024. There is considerable demand for milk powder in the US and Canada, particularly for applications, including baked goods, nutritional supplements, and baby formulae. Milk powder is widely used for home and commercial purposes, and the busy lifestyles of customers in this region indicate the demand for quick and flexible food products. Furthermore, there is an increasing demand for skimmed and low-fat milk powders due to the popularity of high-protein diets and healthy eating habits. The availability of milk powder throughout North America is further supported by strong distribution networks.
Europe is anticipated to be the largest market for premium milk powder, as it has a well-established dairy industry. The demand is the highest in countries such as Germany, France, and the Netherlands. These countries have traditional cooking methods that often use milk powder in baked products, dessert, and dairy-based recipes, which shows that it is still being used. As the region has started focusing more on health and wellness items, customers prefer to use low-fat and skim milk powders, leading to its growing demand in the region. Organic and green food lines, coupled with milk powder's consumption due to the promotion of sustainable clean-label products within Europe, will contribute further toward growth potential. Its high export ability ensures healthy expansion scope within the region.
Global Milk Powder Market By Geography
- Largest
- Fastest
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Milk Powder Market Dynamics
Milk Powder Market Drivers
Rising Demand for Dairy Products
- The demand for milk powder is mainly driven by the increasing interest in dairy products globally, especially in developing countries. It is essential in processed foods, baby formulae, and cooking because of its multiple uses. Due to the increase in salaries, dietary changes in the different countries have led to more milk usage. Thus, milk powder as a valuable source of nutrients lot more products to cater for business families.
Shelf Life and Convenience
- With its extended shelf life and ease of storage, milk powder is highly convenient. It is an ideal substitute for liquid milk especially in regions with little or no available refrigeration facility. The stability and mobility of this powder make it the ideal constituent in daily consumption and food processing to the benefit of both producers and consumers. Its characteristics respond to the ever-increasing demand for foodstuffs that are resilient and versatile.
Milk Powder Market Restraints
Price Volatility of Milk
- Variable milk prices that are influenced by feed costs, weather, and supply-demand imbalances have the most significant effect on the manufacture of milk powder. These variations increase the costs of manufacturing, which affects profitability and makes it challenging for producers to maintain low prices. Particularly in cost-sensitive regions, such volatility may translate to reduced demand and affordability, which would undermine market growth overall.
Health Issues with Processed Foods
- Health consciousness has led many to doubt processed foods, including milk powder. The concern over preservatives, added sugars, and nutritional loss during processing may make health-conscious consumers less predicted to accept milk powder. Moreover, with the increased demand for fresh and minimally processed products, producers of milk powder find it hard to keep pace with changing customer preferences.
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Milk Powder Market Competitive Landscape
The major players in the highly competitive milk powder market invest more in innovation, quality, and sustainability to get an edge. Market leaders include diversified product portfolios and strong distribution networks of companies such as Nestlé, Danone, Fonterra, and FrieslandCampina. Small companies occupy new, very tight areas; full of organic, clean-label, plant-based options, such as plant-based foods and beverages. Growing competition has boosted R&D spending almost as rapidly as joint ventures and regional expansion have multiplied globally available markets into the organic foods and beverages industry.
Top Players in Milk Powder Market
- Nestle S.A. (Switzerland)
- Danone S.A. (France)
- Lactalis Group (France)
- Fonterra Co-operative Group Limited (New Zealand)
- Royal FrieslandCampina N.V. (Netherlands)
- Dairy Farmers of America (United States)
- Arla Foods amba (Denmark)
- Saputo Inc. (Canada)
- Parmalat S.p.A. (Italy)
- Gujarat Co-operative Milk Marketing Federation Ltd. (India)
- Westland Milk Products (New Zealand)
- Amul (India)
- Kalbe Farma (Indonesia)
- Yili Group (China)
- Mengniu Dairy (China)
- Meiji Holdings Co., Ltd. (Japan)
- Murray Goulburn Co-operative Co. Limited (Australia)
- Glanbia plc (Ireland)
- Kraft Heinz Company (United States)
- Dean Foods (United States)
Recent Developments
- Valio Prime SMP is a new skim milk powder for infants. It was launched by Valio in April 2023. This special powder is mixed with water to make baby formula. It is easy for businesses to use, and at the same time, it is highly hygienic and bacteria safe.
- Chinese dairy company, Junlebao, will breathe fresh life into a long-established category with its new milk powder line, "Le Gai”, in December 2022. According to the company, there is twice as much calcium in Le Gai milk powder than in normal whole milk powder, at 1200 mg of calcium per 100 g of milk powder.
- Z Natural Foods announced a new organic oat milk powder to the market in March 2022. Oat milk powder is sold in one-, five-, and fifty-pound bags. It has an air-locked, freezer-tight, resealable, stand-up foil pouch, and can safely be stored for two years.
Milk Powder Key Market Trends
- Demand for Clean-Label and Organic Products: The milk powder industry is embracing the global trend toward organic and clean-label products. As customers gradually give more importance to sustainability and transparency, they are opting for little additive milk powder from organic farms. It allows producers to modify and broaden their organic product lines to answer the growing demand for eco-friendly procedures and goods that complement moral and health-conscious lives.
- Growing Usage of Functional Foods: Milk powder is one of the most in-demand components of functional foods as it caters to the health and wellness movement. Milk powder is increasingly found in protein drinks, fortified snacks, and dietary supplements because of its high nutritious content. This trend widens the applications of milk powder beyond food and beverage products and is aligned with the increasing interest in fitness, weight control, and preventive health.
Milk Powder Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global milk powder market outlook is expected to change steadily with its extended shelf life and convenience, and the growing demand for dairy products. This is largely driven by the emerging nations that are fueling demand for more flexible, nutrient-dense food alternatives, together with urbanization and rising wages. Demand for organic products, functional food applications, and fluctuating milk costs, as well as health issues related to processed foods, usually offset each other. Major firms focus on innovation, sustainability, and regional growth in order to maintain competitiveness. It is used in the culinary, nutritional, and industrial sectors to make milk powder an essential part of the global food industry for the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 35.26 billion |
| Market size value in 2032 | USD 49.75 billion |
| Growth Rate | 3.9% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Milk Powder Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Milk Powder Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Milk Powder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Milk Powder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Milk Powder Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Milk Powder Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Milk Powder Market Report Snapshots
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