Saudi Arabia Milk Powder Market Size And Forecast Report 2024-2032...

Saudi Arabia Milk Powder Market Size And Forecast Report 2024-2032

Postado 2024-09-10 12:36:06

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Size

Renub Research projects that the Saudi Arabia Milk Powder Market will reach a value of US$ 579.08 million by 2030, with a forecasted compound annual growth rate of 6.24% from 2024 to 2030. In 2023, the market was valued at US$ 379.07 million.

Saudi Arabia favors dairy products, especially traditional ones like yogurt and fresh white cheeses. However, there's a significant shift towards milk powder lately due to its longer shelf life, convenience, and versatility, suiting evolving consumer preferences. Factors such as urbanization, lifestyle changes, and convenience awareness contribute to this shift. Milk powder's adaptability in cooking and ease of use further boost its appeal. The increasing demand for organic dairy products reflects growing health consciousness, mirroring global trends towards healthier eating. Additionally, the surge in veganism and lactose-free options, including plant-based milk alternatives, is evident in the Saudi Arabia milk powder market. Consumers prioritize dairy options meeting both nutritional and ethical criteria, emphasizing product diversity. Moreover, health-conscious Saudis rely on milk powder as a convenient source of essential nutrients amidst busy schedules, driving market growth as fitness becomes a priority and convenient nutrition gains traction.

Saudi Arabia Milk Powder Market segmentation

Whole milk powder is vital in the Saudi milk powder market for its versatility and nutrition. It serves as a convenient dairy substitute in baking, cooking, and beverages, with extended shelf life, easy storage, and rich flavor, solidifying its market importance. In March 2024, Almarai, Saudi Arabia's top dairy firm, announced a $4.8 billion investment plan to diversify production and expand operations over five years, in line with the kingdom's goals to boost agricultural industries and fortify food security.

Infant formula could dominate the Saudi Arabia milk powder market due to its crucial role in infant nutrition. With a growing population and urbanization, working mothers seek convenient feeding solutions, driving demand. Strict regulations and high standards enhance consumer trust, solidifying infant formula's status as a preferred choice for infant nutrition in the Saudi market. In March 2024, Sprout Organic, an Australian plant-based formula company, expands globally into Saudi Arabia and Malaysia, targeting the dairy-free infant formula market in Asia-Pacific (APAC) for growth opportunities.

Saudi Arabia milk powder market Key player

The Saudi Arabia milk powder market includes key players like Almarai Company, Rabouh Al Hofuf Est., Gulf Dimensions Trading Est, M.M. Siddique Abdullah Trading Est., Shatha Abeer Ltd, AL-Juffaily for Trading and Riyadh Dairy Products Factory.

In 2022, Saudi Arabia exported $32.6 million worth of milk powder, primarily to Kuwait, Oman, UAE, Bahrain, and Mauritania. It also imported $156 million of milk powder, mainly from Belgium, Poland, Germany, New Zealand, and the USA.

Type – Saudi Arabia Milk Powder Market breakup in 6 viewpoints:

1. Whole Milk Powder

2. Skimmed Milk Powder

3. Dairy Whitener Powder

4. Buttermilk Powder

5. Fat-Filled Milk Powder

6. Other Milk Powder

Application – Saudi Arabia Milk Powder Market breakup in 6 viewpoints:

1. Nutritional Food

2. Infant Formulas

3. Confectionaries

4. Baked Sweets