Whole Milk Powder Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The milk powder market is expected to reach $ 18.54 billion in 2024, and is expected to reach $ 24.6 billion in 2032. The compound annual growth rate (CAGR) for this market is 3.14 % from 2024 to 2032. This market is expected to grow due to the increasing demand for dairy products in emerging economies, the popularity of whole milk powder as a versatile ingredient, and the trend of convenient food utilizing milk powder. Also, technological advancements in milk production and preservation will play a significant role in driving the market. Spray drying and improved packaging will improve the shelf life and quality of whole milk powder, which will make it more attractive to consumers and manufacturers. The key players in this market, such as Fonterra Co-operative Group, Nestlé, and Friesland Campina, have been actively implementing strategic initiatives, such as joint ventures and research and development, to expand their product portfolio and increase their market share. These efforts will not only help the companies maintain their competitive edge, but will also contribute to the overall growth of the whole milk powder market.

Regional Market Size

Regional Deep Dive

The milk powder market is experiencing dynamic growth in various regions, driven by rising demand for dairy products, changing consumer preferences, and technological advancements in food processing. In North America, the market is characterized by a strong focus on high-quality dairy products and an increasing trend toward organic and natural ingredients. Europe is a mature market with a focus on sustainable and healthy products. Asia-Pacific is a growing market, with rising incomes and urbanization. The Middle East and Africa are seeing increasing investment in dairy production, and Latin America is taking advantage of its agricultural strengths to increase its exports of milk powder.

Europe

• The European Union has implemented stricter regulations on dairy product labeling, which has prompted manufacturers to innovate and improve transparency in their whole milk powder offerings.
• Sustainability initiatives are gaining traction, with companies like Arla Foods investing in eco-friendly production methods, which are expected to enhance consumer trust and market growth.

Asia Pacific

• China's growing middle class is driving demand for whole milk powder, leading to significant investments from companies like Fonterra to expand their market presence in the region.
• Innovations in packaging technology are making whole milk powder more accessible to consumers, with companies introducing single-serve packets that cater to the on-the-go lifestyle.

Latin America

• Brazil is becoming a significant exporter of whole milk powder, with government support for dairy farmers through programs aimed at improving production efficiency and quality.
• The rise of e-commerce in Latin America is facilitating the distribution of whole milk powder, with companies like Nestlé leveraging online platforms to reach a broader consumer base.

North America

• The U.S. Dairy Export Council has been actively promoting whole milk powder exports, particularly to Asian markets, which has led to increased production capacities among key players like Dairy Farmers of America.
• Recent regulatory changes in the U.S. have encouraged the use of whole milk powder in school nutrition programs, enhancing its visibility and demand among health-conscious consumers.

Middle East And Africa

• The Gulf Cooperation Council (GCC) countries are investing heavily in dairy production to reduce reliance on imports, with initiatives like the Saudi Vision 2030 aiming to boost local whole milk powder production.
• Partnerships between local dairy producers and international companies are emerging, such as the collaboration between Almarai and FrieslandCampina, which is expected to enhance product quality and distribution.

Did You Know?

“Whole milk powder can have a shelf life of up to 24 months when stored properly, making it a convenient option for both consumers and manufacturers.” — Dairy Research Institute

Segmental Market Size

Whole milk powder (WMP) is a vital part of the dairy industry. It is a versatile ingredient in many foods and infant formulas. This market is currently growing steadily, thanks to growing consumer demand for dairy products and the growing popularity of ready-to-eat foods. The rich nutritional value of whole milk powder, which is rich in vitamins and minerals, and the increasing population in the world, which requires a steady and sustainable supply of food, are the main factors driving this growth. The market for whole milk powder is currently mature. Leading companies such as Fonterra and Friesland Campina are active in this market. The companies are able to use advanced production methods to enhance the quality and shelf life of their products. Whole milk powder is mainly used as an ingredient in bakery products, confectionery and dairy drinks. The market for whole milk powder is expected to continue to grow, as trends such as the growing focus on sustainability and the rise in health-conscious consumers continue to drive growth. Technological innovations, which increase the efficiency and reduce the waste of the production process, are also expected to help the market grow.

Future Outlook

Whole milk powder is expected to grow at a steady rate from 2024 to 2032. Its market value is expected to rise from $18.54 billion to $24.6 billion, with a compound annual growth rate (CAGR) of 3.14%. This growth is mainly driven by the rising global demand for dairy products, especially in emerging economies with rising incomes and changing diets. Whole milk powder is widely used in baby formula, bakery products and nutritional supplements, and the demand is expected to grow. The technological progress and the policy will also change the market landscape. Whole milk powder is also gaining momentum. With the continuous improvement of the spray drying process and the packaging technology, the quality and shelf life of whole milk powder are also improved, which is beneficial to the manufacturers and consumers. Besides, the dairy industry in the major dairy countries is booming, and the export policy is also a major driving force for the market.The popularity of vegetarianism and the growing concern for the environment will also affect the market. The whole milk powder industry is expected to focus on new formulations and sustainable development. The whole milk powder market will continue to grow, driven by demand, technological progress and a booming market.