Whole Milk Powder Market to Grow by 2023 Due to Increasing Use in Various Industries

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Whole Milk Powder Market.

Whole milk powder is a type of dried milk powder that is made by evaporating moisture content in milk. Evaporation of moisture leaves fine particles of milk solids. A new report on the global whole milk powder market, published by Market Research Future (MRFR), predicts that this market could see growth between 2018 and 2023.

The critical market driving factors for the global whole milk powder market growth is the longer shelf life of milk powder. Compared to normal milk, milk powder takes a longer time to perish. Milk contains 80% to 90% moisture. Evaporating the moisture makes the storage of milk powder easy. A space required to store a particular amount of milk can store a much higher amount of milk powder. Ease of storage also results in reduced storage costs and ease of transportation. The market for whole milk powder is growing due to its increasing use in many industries that include bakery & confectionery, dietary supplements, and ice cream & desserts. Other factors driving the market include growing health awareness, growing need for convenience, a rising number of working men as well as working women, rapid urbanization, and shortage of milk resources in many countries. 

Market Segmentation

The global whole milk powder market segmentation encompasses application and product type. MRFR’s take on the market explores various facets of the market in-depth.

The application-based segmentation of this market covers bakery & confectionery, dairy, ice-cream & desserts, snacks, and others. The “others” segment includes supplements and whiteners. The dairy segment holds the largest market share due to heavy consumption of milk products. During the forecast period, bakery & confectionery segment is likely to witness the highest growth due to the rising demand for nutritional bakery products.

Regarding product type, the market has been segmented into instant whole milk formula, regular whole milk formula, and others. The “others” segment includes caramelized and organic. During the forecast period, the instant whole milk formula segment can witness the highest growth among all segments due to the increasing demand for efficient whole milk powder. Regular whole milk formula segment can hold another major market share.

Regional Segmentation

A geographical outlining of the global whole milk powder market covers Europe, Asia Pacific, North America, and Rest of the World (RoW).

During the forecast period, the market in Europe is expected to witness maximum growth in the bakery application, followed by the Asia Pacific region. Some of the major market players are based in Europe too. The biggest revenue-generating markets in this region are France, Germany, Italy, Spain, and the UK.

During the forecast period, the volume-wise market size is expected to be higher in the Asia Pacific region, followed by North America. In this region, the confectionery application is expected to witness a faster and maximum surge. The market is growing in the Asia Pacific region due to increasing disposable incomes in China and India. The increasing demand for infant formula and dairy products can also drive higher demand as well as the market for whole milk powder. Japan is another major country-specific market in this region. The biggest revenue in the Asia Pacific region comes from Australian manufacturers who produce a range of whole milk powders. Over the years, the technology used in production has gone through specifications that are available in Australia. 

In the global market, North America holds a valuable share due to high milk production and the presence of key players in the USA. Canada and Mexico contribute sizable revenue to the market.

The RoW segment covers Africa, the Middle East, and South America. Due to limited milk production, and limited income, the market is small in these regions.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/whole-milk-powder-market-1831

Key Players

Big players in the global whole milk powder market include Arla Foods amba (Denmark), Carbery Group Ltd. (Ireland), Cargill corporation (USA), Dairy Farmers of America Inc (USA), Davisco Food International Inc (USA), Fonterra Co-Operative Group Ltd (New Zealand), Glanbia plc (Ireland), Hilmar Cheese Company Inc. (USA), Maple island Inc. (USA), and Milk Specialties company (USA).

Latest Industry News

• Cooperatives Working Together (CWT) member cooperatives have accepted eleven offers of export assistance from CWT that helped them to obtain sales contracts from customers in Asia and South America. The contracts cover the sales of 557,770 pounds (253 metric tons) of Cheddar cheese and 112,436 pounds (51 metric tons) of cream cheese Asia and South America between August 2019 and November 2019. As per these contracts, the total amount of year-to-date dairy product is going to be 189,598 pounds of anhydrous milkfat, 37.9 mn pounds of American-type and Swiss cheeses, 3.8 million pounds of cream cheese, 4.2 million pounds of butter (82% milkfat), and 37.5 million pounds of whole milk powder. The products are going to be sold in 26 countries in six regions. 19 AUG 2019