Non-Fat Dry Milk Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Non-Fat Dry Milk Market grew at a CAGR of 4.5% between 2017-2021 and is estimated to be US$ 6,410.5 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.2% and is expected to reach a valuation of US$ 9,673.2 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to an increase in sales of non-fat dry milk. The forecast period at this time reflects that there is more growth potential for the company and others who produce similar products.
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ChemView Consulting has analyzed that In comparison to liquid milk, non-fat dry milk has a longer shelf life and no transportation problems exist. This will increase the demand for non-fat dry milk during the forecast period. Moreover, production costs associated with non-fat evaporated milk are much lower than those associated with liquid evaporated milk.
This might also boost the sales of non-fat dry milk during the forecast period. Also, being rich in protein, calcium, and vitamins, these can be used as a supplement to maintain good health compared to liquid milk, which has been associated with various diseases like high blood pressure, heart disease, etc. Not only nutritionists but also doctors have recommended consumers’ intake of these products as they are reported safe to consume.
Segments Covered in Report
- Ice-creams and Snacks
- Nutritional supplements
- Dairy products
- Plastic-coated paper board
- Plastic pouches
- Non-returnable polyethylene containers
- Returnable rigid polycarbonate containers
- HDPE (High-density polyethylene)
By End User :
- Convenience Stores
- Online platforms
- Retail stores
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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Key Takeaways from the Non-Fat Dry Milk Market
- Based on the Application, Non-Fat Dry Milk is dominated by confectioneries, with a revenue share of 40.0%. Dry milk powder (DMP) has emerged as a popular ingredient for baking and cake preparation due to its consistent quality, purity, and economical cost. The segment holds a dominant share of the total market.
- Based on the End-User, The hypermarket/supermarket segment held the largest share of the overall market in 2021. This is owing to the convenience and comfort of shopping at a modern-day supermarket, with easy online shopping platforms. The increasing population, migration from rural to urban areas, urbanization, and economic development are boosting the demand for this type of marketplace. Online growth is also expected at a high rate because it offers various benefits compared to traditional brick-and-mortar stores, such as calm shopping and the ability to search for products.
- Based on Region, the North American market held a sizeable revenue share of 36.2%. In the United States, demand is rising, and it is predicted to rise due to seasonal milk supply drops and increased processing needs. Although the availability of non-fat dried milk has increased, processing capacity continues to be hampered by personnel and supply chain limitations. Looking at all this, the demand would surely increase but not at the rate it should have.
Key companies covered in the market study are HOCHDORF Holding Ltd., The St. Albans Cooperative Creamery, American Dairy Products Institute, Bob’s Red Mill natural food, Nestle S.A., All American Foods, Inc., Arla Foods, and DairyAmerica.Inc, Amul NOW Foods, Earth’s Own Food Company Inc., The Hain Celestial Group.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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