Non-Fat Dry Milk Market Size Analysis
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.
ITS ABILITY TO FORTIFIED DRIVES THE MARKET FOR NON-FAT DRY MILK
Non-fat dry milk is one of those products with its market demand and may be used to produce many foods. The manufacturers can take advantage of this by adding flavors like vanilla, strawberry, chocolate, etc. Besides that, with growing health-conscious consumers, the manufacturers have probably made the best possible alterations by adding necessary nutrients like calcium, magnesium, zinc, etc. This might increase the demand for non-fat dry milk during the forecast period.
MANY POPULATION HAS LACTOSE INTOLERANCE HAMPERING THE MARKET GROWTH
There is no lactose-free option in the case of non-fat dry milk. This is unsuitable for those who experience lactose intolerance. This might pose some challenges to the sales of non-fat dry milk. However, lactose-free milk may be an acceptable alternative for most chocolate lovers willing to live with these minor inconveniences if they can taste some of our amazing varieties, like Madagascar and Fruity Fiesta.
THE RISE IN DEVELOPMENT ECONOMIES CREATES MORE OPPORTUNITIES FOR THE MARKET
Developing countries are a lucrative market as they continue to grow rapidly and are almost untapped. These countries have been into consuming more conventional milk, but there is ample opportunity for the non-fat dry milk market, can take advantage of this situation. This will help in effectively conveying the health benefits of dry milk.
The coronavirus outbreak has negatively impacted the markets for Non-fat dry milk (NFDM) systems. Reduced demand for ready-to-eat products, as a result of increased COVID-19 cases, has led to a decline in the installed capacity of IFDM systems.
However, it is expected that the adoption of ready-to-eat foods will grow due to an increase in the use of non-fat dry milk and other ready-to-eat product within healthcare facilities.
Market Segments Covered in Report
By End User :
By Region and Country:
Why are confectionery segment projected to ensure the most revenue during the forecast period?
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. The growth is due to the rising disposable income of people in the western world, improved health awareness regarding complications posed by fat intake, high demand from developing countries such as India and China, and a rise in the celebration of festivals at large scale.
Why is the hypermarket/supermarket segment expected to expand the fastest during the forecast period?
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The global non-fat dry milk market is fragmented, with several domestic and international rivals vying for market dominance. Due to changing consumer dietary preferences and a plentiful milk supply, businesses are concentrating on producing new products that make natural or organic claims as their main marketing strategy.
Some of the key developments that have taken place in the Non-Fat Dry Milk Market include:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Application, Packaging, End User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.2%.
With its high-fat content, fat-rich milk is not always good for health and can lead to several health complications. Fat-rich milk usually intensifies the threat of hypercholesterolemia which is heightened cholesterol levels.
Major global Non-Fat Dry Milk Market players 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, DairyAmerica.Inc, Amul NOW Foods, Earth’s Own Food Company Inc., The Hain Celestial Group.
Non-fat dry milk has several benefits over liquid milk but has many drawbacks that could stifle this industry’s expansion.
The North America region is expected to account for the largest market revenue share in the Global Non-Fat Dry Milk market.
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