Dry whole milk powder has emerged as a versatile and convenient alternative to fresh dairy products, addressing concerns surrounding perishability and transportation. With an extended shelf life of up to one year, milk powder has become a staple in regions facing temperature extremes and lacking reliable cold chain infrastructure. Additionally, changing consumer lifestyles, particularly in emerging markets like the Asia Pacific, are driving demand for bakery and confectionery products, further fueling the growth of the dry whole milk powder market.
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Market Overview: According to a report by Transparency Market Research, the global dry whole milk powder market is projected to expand at a compound annual growth rate (CAGR) of 4.6% between 2017 and 2022, reaching a valuation of US$12,761.1 million by 2022. Among the product segments, instant dry whole milk powder holds dominance, with a projected CAGR of 4.7% during the forecast period.
Market Segmentation: The market is segmented based on product type, sales channel, application, and geography. Product types include regular, instant, UHT, caramelized, and organic dry whole milk powder. Sales channels encompass modern trade, traditional grocery, convenience stores, online channels, and direct sales. Applications range from home reconstitutions to bakery and confectionery, dairy whiteners, desserts, ice-cream, and nutritional supplements, among others.
Regional Insights: Asia Pacific, excluding Japan, emerges as the dominant market for dry whole milk powder, driven by rising purchasing power and evolving consumer preferences. The region is expected to witness a CAGR of 5.2% during the forecast period. North America remains a significant market, fueled by busy lifestyles and a strong packaged food industry, while Europe and Japan are projected to experience marginal declines in market share.
Key Players: Leading players in the global dry whole milk powder market include Nestle, Lactalis Group, Fonterra, FrieslandCampina, Danone, Belgomilk, Dana Dairy, Saputo Ingredients, Alimra, and Amul. These companies leverage processing technologies and advancements in microbiology to enhance product quality, taste, and nutritional profiles.
Emerging Trends and Opportunities: The COVID-19 pandemic has disrupted businesses across the dry whole milk powder market, influencing consumption patterns and driving changes in regulations. Consumers are increasingly health-conscious and seek environmentally friendly packaging solutions. This presents new opportunities for packaging companies, ingredient manufacturers, and processing technology providers to innovate and cater to evolving consumer preferences.
Transparency and Traceability
Consumer demand for transparency and traceability in the vegetable oils supply chain has surged. Companies are leveraging technological advancements to offer transparent supply chains, providing consumers with insights into sourcing and manufacturing processes. Establishing traceability enables companies to enhance product safety and quality, fostering consumer trust and loyalty.
Strategies Adopted by Key Players
Leading players in the vegetable oils market, including Cargill, Adani Wilmar Ltd., and Ruchi Soya Industries Ltd., are expanding their global footprint through strategic investments in manufacturing facilities and technology. Collaborations and partnerships are enabling companies to optimize production processes and enhance product quality, thereby capitalizing on emerging market opportunities.
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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