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DESCRIPTION
Global Milk Powders Market Size
Based on ELINT Market Research’s latest analysis on the milk powders market, it projects a substantial growth rate with a positive outlook for the future. The global forecast for 2023-2024 indicates a robust landscape for rapid expansion, with Liquid Milk anticipated at 666 million metric tones (MMT), Whole Milk Powder (WMP) at 6.3 MMT, and Skimmed Milk Powder (SMP) at 6.6 MMT. Under a notable trend, the emerging production destination for these leading categories points to Oceania as the central hub for Liquid Milk and WMP production, and higher SMP production belongs to the United States. Such a diverse distribution scenario for production across optimized regions confirms the reliable and highly cost-effective supply chain, pushing a favorable outlook for the global milk powders industry.
In-depth insight into the global consumption pattern in 2022 further complements the favorable landscape. With 665 MMT of Liquid Milk, 3.8 MMT of WMP, and 3.9 MMT of SMP consumed across the globe, the continuous requirement for milk powders prevails substantially. In addition, the milk powders market’s higher adaptability highlights the growing pattern that milk powders remain the top preferred substitute, and soya milk remains the highly regarded alternative, set at a competitive price of $2.67 per liter. The rising preference for milk powders compared to other options sheds light on the industry’s core strength and reliability to emerging consumer choices.
Market Definition
Milk powders are highly consumed dehydrated milk, resulting from a process in which moisture content separates from the liquid milk. The process covers transforming milk into a dry powder to preserve its critical nutritional value and improve its shelf life. Such powders are easily transformable into their original liquid form by reconstituting them with water. The milk market is complex and highly dynamic, with industry giants and domestic players, each bringing uniqueness and innovation.
Milk Powders Market Drivers
- Rising Consumer Demand for Convenience: The convenience in consumption boosts milk powder demand. The powdered milk is processed, stored, and preserved for a longer duration and is easy to reconstitute as and when required, perfectly matching the changing lifestyles of consumers.
- Increasing Health Consciousness: Milk powders come with ample percentages of proteins, vitamins, and minerals that make them a healthy option. People searching for a quick and healthy alternative to regular milk are pushing the market up.
- Expanding Applications in Food Processing: The higher resourcefulness of milk powders in diverse food processing applications, especially in confectionery and bakery, boosts their demand. Product manufacturers find its functional properties fruitful, especially moisture retention and improved texture in end products.
Milk Powders Market Challenges
- Price Volatility in Raw Milk: Frequent variations in the raw material prices influence the overall production cost for mill powders. The industry needs help managing competitive pricing while dealing with the high volatility in the dairy market.
- Stringent Regulations: Increasing stringent regulations and guidelines related to safety and quality standards bring challenging conditions for industry participants. Complying with the different global standards also complicates the production and distribution phases.
Milk Powders Market Opportunities
- Emerging Markets: Several untapped industries in developing regions still offer lucrative opportunities for long-term growth. With the surge in disposable incomes and increasing consumer awareness about the advantages of milk powder, there is significant scope for rapid market expansion.
- Innovation in Product Development: Continuous efforts in R&D in advanced product formations, such as functional and fortified milk powders, create new growth avenues for market participants. Managing changing consumer choices can provide a competitive advantage.
Milk Powders Market Segmentation
- Product Type: Based on product type, research classifies the market into whole milk powder, skimmed milk powder, and whey powder.
- Application: In terms of application, the research divides the market into infant formula, bakery, confectionery, and dairy-based beverages.
- Distribution Channel: As per distribution channel, the research segments market into retail and online.
Regional Dynamics
Regional dynamics are a cornerstone in deciding costs and industry trends in the continuously changing milk powders market. As of 2022, the pricing patterns in major regional markets offer critical insights into different market dynamics. In Europe, the pricing for liquid milk is set at €59.6 per 100 kg, indicating specific industry dynamics and changing consumer preferences in the region. Skimmed Milk Powder (SMP) costs $3,702 for one metric ton in the United States. This price shows how financial factors are changing this part of North America’s market. Whole milk powder (WMP) prices in New Zealand are $3,863 per metric ton. It shows the unique ways things work in the Oceania region. These different prices between regions show that many factors are involved, including production prices, economic circumstances, and consumer choices.
Engagement Models
The engagement models between suppliers and stakeholders are vital indicators of the transparency and sustainability of the complex domain of the milk powders market. The supplier dynamics cover the single or few supplier networks, highlighting the crucial role of these prominent players in shaping industry trends. In addition, the contract types in the industry ideally span a long term with a one to two years horizon, offering needed stability and reliability for suppliers and buyers. The contracts are functional on a global scale, indicating the industry’s interconnected landscape, where one region’s conditions influence the supply chain dynamics in other parts. Furthermore, suppliers often come under the co-operative category, highlighting mutual efforts to optimize overall market performance.
Recent Activities in the Milk Powders Market
- BBy, a fast-growing company linked with Y Combinator, secures $3 million in funding from its recent seed round. The business is famous for making a machine that changes breast milk into powder, just like the feel of Cheetos powder.
- Emmi, a leading Swiss dairy company, has taken an essential step in its plan to grow worldwide. They opened a high-tech plant in the Netherlands for making dry powder from goat’s milk. Emmi aims to gain a crucial part of the growing goat’s milk products market. The company targets the evolving special needs of the health-conscious population.
Milk Powders Market Players
The global milk powders market is a competitive domain where the presence of industry leaders and new market entrants is notable. Some prominent industry participants are Nestlé, Danone, Fonterra Co-operative Group, and Lactalis. These leaders also face healthy competition from regional forces. Combining expertise and uniqueness enables these leaders to set new industry benchmarks. In addition, the robust distribution network helps to widen the product reach to different regions.
