Whole Milk Powder Market Research Report - Global Forecast till 2027

Global Whole Milk Powder Market: Information by Drying Method (Spray Drying, Freeze Drying and Others), Category (Conventional and Organic), Application (Bakery & Confectionery {Chocolates & Candies, Baked Products and Others}, Dairy & Frozen Desserts, Sweet & Savory Snacks, Infant Nutrition, RTE & RTC Meals, Beverages and Others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

ID: MRFR/F-B & N/1299-CR | June 2020 | Region: Global | 110 pages

Please note that the assessment period of report has been updated from 2018-2026 to 2020-2027. Cordially fill the sample form for updated data

Market Overview


Global Whole Milk Powder Market is projected to register a CAGR of 3.6% and reach USD 23,131.9 Million by 2026. Whole milk powder is a type of dried milk powder made by evaporating the moisture content in milk, which leaves fine particles of milk solids. Milk and milk products are highly perishable commodities. Milk powder is preserved by removing moisture to the greatest extent possible, which inhibits microbial growth. The global whole milk powder market is expected to grow at a significant rate during the forecast period. Wide application scope of whole milk powder and increasing consumption of chocolate are the key drivers boosting the growth of the global whole milk powder market. However, increasing lactose intolerance and fluctuating raw material prices are expected to restrict the growth of the market. New revenue pockets in emerging economies ​and the rising demand for organic food products are expected to create profitable growth opportunities for whole milk powder manufacturers during the forecast period.


Market Dynamics


Whole milk powder finds applications in various segments of the food & beverages industry, including dairy products and frozen desserts, bakery & confectionery, beverages, sweet & savory snacks, infant nutrition, and RTE & RTC meals. Whole milk powder can be stored for approximately a year without loss of quality. Thus, the longer shelf life of whole milk products helps increase their application in various industries as the demand for products with longer shelf lives is rising among consumers. Moreover, the convenience in transportation, handling, processing, and product formulation of whole milk powder is also driving its application in various industries. In the dairy industry, whole milk powder is primarily used in the preparation of yogurt, ice cream, and milk-based beverages. The sales of yogurt, ice cream, and frozen desserts have increased at a steady rate, especially in countries in Asia-Pacific, such as China, India, and Indonesia. Moreover, it is extensively used in bakery & confectionery applications in products such as pastries, biscuits, and chocolates. Infant nutrition is also a significant application area of whole milk powder. Its application is also increasing in snacks, beverages, RTC & RTE meals, and nutritional supplements. Such a wide application scope of whole milk powder is driving the growth of the global whole milk powder market.


Milk derived from various animal sources, including cows and buffalos, is the key raw material used in the manufacture of whole milk powder. Therefore, milk prices have a significant impact on the production cost of whole milk powder. The price of milk varies and depends on various factors such as production, weather, and global demand. The graph below indicates fluctuations in farm-gate milk prices in different regions from 2013 to 2018. These fluctuations affect the manufacturing cost of whole milk powder, which, in turn, affects the profit margins of manufacturers. Thus, fluctuating raw material prices are expected to restrict the growth of the global whole milk powder market during the forecast period.


FARM-GATE MILK PRICES OVERVIEW: (USD/100 KG), (2013–2018)
FARM-GATE MILK PRICES OVERVIEW


Sources: United States Department of Agriculture (USDA)


Segmentation


Based on the drying method, the global whole milk powder market has been divided into spray drying, freeze-drying, and others. In 2019, the spray drying segment dominated the market. By category, the market has been segregated into conventional and organic. The organic segment is expected to register a higher growth rate during the review period. By application, the market has been segmented as bakery & confectionery, dairy & frozen desserts, sweet & savory snacks, infant nutrition, RTE & RTC meals, beverages, and others. The bakery & confectionery segment is further divided into chocolates & candies, baked products, and others. The bakery & confectionery segment held the largest revenue share of the global whole milk powder market in 2019.


Global Whole Milk Powder Market Share, by Region, 2019 (%)
Whole Milk Powder Market


Sources: MRFR Analysis


Regional Analysis


By region, the global whole milk powder market is segregated into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific accounted for the largest market share in 2019. The region accounted for a 49.43% share of the market in 2019. The increasing availability of milk-based products and the rise in promotional activities of major food processors in emerging economies, including India and China, have resulted in high consumer awareness regarding the benefits of whole milk powder, which is contributing to the growth of the market in Asia-Pacific.


Key Players


Prominent players in the global whole milk powder market include Fonterra Co-operative Group Limited (New Zealand), Arla Foods amba (Denmark), Glanbia plc (Ireland), Agropur (Canada), Lactalis Group (France), Westland Milk Products (New Zealand), Dairy Farmers of America, Inc. (US), Carbery Group Ltd. (Ireland), California Dairies, Inc. (US), and Maple Island, Inc. (US).


Players competing in the global whole milk powder market are focused on strengthening their geographic footprint through expansions and launching innovative products.


Market Segmentation


Global Whole Milk Powder Market, by Drying Method



  • Spray Drying

  • Freeze Drying

  • Others


Global Whole Milk Powder Market, by Category



  • Conventional

  • Organic


Global Whole Milk Powder Market, by Application



  • Bakery & Confectionery

    • Chocolates & Candies

    • Baked Products

    • Others



  • Dairy & Frozen Desserts

  • Sweet & Savory Snacks

  • Infant Nutrition

  • RTE & RTC Meals

  • Beverages

  • Others


Global Whole Milk Powder Market, by Region



  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • Germany

    • UK

    • France

    • Spain

    • Italy

    • Rest of Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific





  • Rest of the World (RoW)

    • Middle East

    • South America

    • Africa




Intended Audience



  • Food & Beverage Producers

  • Traders, Wholesalers, and Distributors

  • Governments, Associations, and Industrial Bodies

  • Investors and Trade Experts

  • Dairy Cooperatives



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 23,131.9 Million (2026)
  CAGR   3.6% (2018-2026)
  Base Year   2019
  Forecast Period   2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Drying Method, Category, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Fonterra Co-operative Group Limited (New Zealand), Arla Foods amba (Denmark), Glanbia plc (Ireland), Agropur (Canada), Lactalis Group (France), Westland Milk Products (New Zealand), Dairy Farmers of America, Inc. (US), Carbery Group Ltd. (Ireland), California Dairies, Inc. (US), and Maple Island, Inc. (US).
  Key Market Opportunities   The Rising Demand for Organic Food Products
  Key Market Drivers   Increasing Consumption of Chocolate


Frequently Asked Questions (FAQ) :


Whole Milk Powder Market is projected to grow at approximately 5.26% CAGR during the assessment period (2019-2024).

Whole Milk Powder Market is estimated to reach a valuation of approx. USD 23.34 BN by the end of 2024.

Increasing demand of dairy products, growing healthy eating habits, fortification with other essential nutrients, the longer shelf life compared to fresh milk hence the reduced risk of wastage, and increasing per capita disposable income, are major tailwinds pushing the growth of the Global Whole Milk Powder Market.

Europe holds the largest share in the Global Whole Milk Powder Market, followed by the Asia Pacific and North America, respectively.

Nestle (Switzerland), Lakeland dairies (Ireland), Alpen Dairies (Netherland), Synlait milk ltd (New Zealand), DANA Dairy Group Ltd (Switzerland), Miraka (New Zealand), Rawa Pharm(Slovakia), Fonterra (New Zealand), Regilait (France), Lactoland (Germany), and Gracia Hnos Agroindustrial SRL (Argentina), are some of the top players operating in the Global Whole Milk Powder Market.