Dry Whole Milk Powder Market size was valued at USD 11.0 billion in 2022 and is expected to reach USD 13.7 billion by 2029, at a CAGR of 3.1% during the forecast period 2023-2029. Dry whole milk powder is the manufactured dairy product obtained from the whole milk after removal of water by evaporating the milk to dryness. Dry whole milk powder usually contains 26% and 40% of milk fat (by weight) and moisture (by weight) not more than 5.0%. Dry whole milk has a comparable flavour to natural milk and has higher nutritional contents, as well as being easy and quick to dissolve in hot water, allowing for worldwide product penetration. Furthermore, because milk and milk products are perishable, customers are more likely to prefer milk powders, both at home and in the workplace. Milk powders are being used more frequently in sweets and chocolates, which is driving up demand for the commodity.
Fastest Growing Market
The change in lifestyle majorly driving the people towards the ready-to-use products, which is the key factor enhancing the growth of the market. The adoption of the stocking food in the pantry is anticipating the growth of the market. The long-lasting shelf life of the product is another factor attributed for the growth of the market. The growing diet preferences are to enhance the growth of the market. However, the growing preference of the people towards the organic food is the key factor hampering the growth of the market. The minimal nutrition values compared with that of the organic milk is hindering the growth of the dry whole milk powder market.
The dry whole milk powder market is projected to expand at a CAGR of 3.1% during the forecast period
Saputo (Canada), Danone (France), Lactalis (France), Fonterra (New Zealand), Nestle (Switzerland), Danone (France), Belgomilk (Belgium), Amul (India)
Asia Pacific is the fastest-growing region for dry whole milk powder market