Powdered Milk Market is expected to grow at a CAGR of 6%
According to the new market research report by IndustryARC titled “Powdered Milk Market: By Type (Regular, Instant, Organic, Ultra High Temperature (UHT), Whey Products, Dry Buttermilk, Dry Whole milk, non fat dry milk) By Application (Infant Formulas, nutritional foods, confectioneries, baked sweets, and Savories); & Geography - (2018-2023)”, the market is driven by its extended shelf-life and the numerous applications it enriches.
Europe held the largest market share in the Powdered Milk Market
Europe holds the largest market share and growth in the Powdered Milk Market during the forecast period. The increasing disposable income and the awareness in the dairy-rich diets. The key applications in this region include baked sweets and confectioneries among others.
Selected Value Chain Analysis done in the Powdered Milk report
· Milk Powder is in particular the most sought-after in areas with extreme temperatures and locations where there is no cold-chain storage & logistics
· Milk Powder is obtained by removing water content from whole milk. Usually, the fat content in the whole milk ranges from 26-40 percent and water content from 3%-5%.
· Due to its cost effectiveness, it is extensively used in food preparations, such as cakes, smoothies, sweets etc;
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Excerpts on Powdered Milk Market Growth Factors
· Milk Powders have a greater shelf-life and thus can be stored for a long time without any significant loss of quality of milk. This is one of the major factors that is driving the market.
· Also easy transportability and low distribution costs influence the market in a positive manner.
· China and France are among the largest markets for Powdered Milk.
· With around 24 billion liters per year, France is the second largest milk producer in the European Union behind Germany (around 30 billion).
· European Union have sold out 4,000 tonnes of skimmed milk powder from its intervention stocks in its latest tender.
· The global whey powder exports has increased 7% in 2017 while in EU it accounts to 6%.
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Key players of Powdered Milk Market:
· Nestle, Danone, and Amul, are the key players of the market.
· Mergers and Acquisitions are considered as the crucial strategies in the market. For instance, Nestle sold out their U.S. candy business to Ferrero, the Italian Company best known for Nutella, for $2.8 billion. Similarly the company merged its U.S. ice cream business with Dreyer’s Grand Ice Cream in 2002 for $2.4 billions. At the end of 2016, Nestle reported $3.7 billions ice cream sales.
· Amul has invested $390 millions to expand its processing capabilities
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