The
extended shelf life of dry milk powder that addresses perishability
concerns of fresh dairy products is a key factor driving sales of
powdered milk. Milk powder can be stored up to one year without
substantial loss of quality. Milk powder is particularly desirable
for areas that are subject to temperature extremities and for areas
that do not have reliable cold chains for transport of perishable
dairy products.
The
low volume and low weight advantages of milk powder over milk that
are easy to transport are also acting in favor of the growth of dry
whole milk powder market. In addition, changing lifestyle in emerging
nations of Asia Pacific driving sales of bakery and confectionery
products is also exhibiting a demand for dry whole milk powder for
preparation of these items.
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According
to a report by Transparency Market Research, the global dry whole
milk powder market is expected to expand at a CAGR of 4.6% vis-à-vis
revenue between 2017 and 2022. At this pace, the market will attain a
valuation of US$12,761.1 mn by the end of 2022 from US$10, 2015.3 mn
in 2017.
The
report studies the global dry whole milk powder market based on
product type, sales channel, application, and geography. In terms of
product type, the report divides the dry whole milk powder market
into regular, instant, UHT, caramelized, and organic. Amongst all,
the segment of instant holds dominance with the segment expected to
represent 30.8% of the market by the end of 2017. The instant dry
whole milk powder segment is expected to expand at an attractive 4.7%
CAGR between 2017 and 2025, for the segment to become worth
US$3,958.1 mn by the end of 2022.
The
segments of the global dry whole milk powder market depending upon
sales channel are modern trade, traditional grocery, convenience
stores, online channels, other retail formats, and direct sales.
On
the basis of application, the segments into which the global dry
whole milk powder market is divided in this report are home
reconstitutions, dairy whiteners, bakery and confectionery, desserts,
ice-cream, dairy blends, snacks, nutritional supplements, and others.
From
a geographical standpoint, the report studies the global
dry whole milk powder market across North America, Latin
America, Asia Pacific except Japan, Europe, Japan, and the Middle
East and Africa. Of them, Asia Pacific except Japan is currently the
most attractive market for dry whole milk powder and is poised to
hold dominance in the overall market between 2017 and 2022. The
rising purchasing power in the emerging economies of Asia Pacific is
immensely favoring of the growth of this regional market. The Asia
Pacific dry whole milk powder market is likely to expand at a leading
5.2% CAGR between 2017 and 2022 to attain a valuation of US$8,654.4
mn by the end of 2022.
North
America is expected to continue to remain a significant market for
dry whole milk powder. This is mainly because of busy lifestyles and
an established packaged food industry that displays a substantial
demand for powdered milk. The region is likely to exhibit a 3.1% CAGR
between 2017 and 2022 to reach a valuation of US$376 mn by the end of
2022.
Europe,
on the other hand, is expected to lose 86 basis point vis-à-vis
market share between 2017 and 2022. The region is likely to hold
11.4% revenue share in the global market by 2017 end. Likewise, Japan
is expected to lose 10 basis point in terms of market share between
2017 and 2022.
Key
players in the global dry whole milk powder market profiled in this
report are Nestle, Lactalis Group, Fonterra, FrieslandCampina,
Danone, Belgomilk, Dana Dairy, Saputo Ingredients, Alimra, and Amul.
Get
more Information:
https://www.prnewswire.com/news-releases/dry-whole-milk-powder-market-to-reach-us127611-million-by-the-end-of-2022-says-tmr-643711253.html
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