Global Milk Powder Market 2017-2021
About Milk Powder
Milk powder, which is prepared by evaporating milk, is extensively used as a milk replacer. The primary purpose of drying milk is preservation, as the process extends the shelf life of the product. Milk powder has a low moisture content and does not need to be refrigerated. Moreover, it is non-perishable and widely used in different types of food and beverages. The production of milk powder involves the removal of water at the lowest possible cost under stringent hygiene conditions, and also ensuring that all the natural properties of milk, such as flavor and nutritional value, are retained in the milk powder.
Technavio’s analysts forecast the global milk powder market to grow at a CAGR of 8.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global milk powder market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Milk Powder Market 2017-2021
Technavio recognizes the following companies as the key players in the global milk powder market: Danone, Fonterra Co-operative Group, FrieslandCampina, Lactalis, and Nestlé.
Other Prominent Vendors in the market are: ALPEN FOOD, Amul, Arla Foods, China Mengniu Dairy, Dairy Farmers of America, Dean Foods, Humana, Land O'Lakes, MORINAGA MILK INDUSTRY, Müller UK & Ireland, Parmalat, Schreiber, SODIAAL, Synlait Milk, Kraft Heinz, Wimm-Bill-Dann Foods, and YILI.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is demand for organic and lactose-free milk powder. New product launches have a significant contribution to the growth of the global milk powder market. Presently, the demand for organic and lactose-free milk powder is increasing across the globe, owing to the growing health-consciousness among consumers. Lactose-free and organic milk powder helps to create a new opportunity for the food and beverage industry.”
According to the report, one driver in the market is long shelf life. Shelf life is the time for which a food item can be stored without becoming inedible. There are many perishable products in the dairy industry, and milk is one of them. Milk needs to be refrigerated, and even then, it can be stored for a limited period. Milk can be stored for a maximum of 4-5 days in refrigerators, which is very less compared with milk powder. Storing milk powder in a dry and cool place further extends its shelf life. Manufacturers benefit from this long shelf life property of powdered milk, as their products can remain on sale for a longer period of time, can be distributed extensively, and the wastage and restocking cost can be reduced.
Further, the report states that one challenge in the market is product recalls. Product recalls can be a major challenge for the growth of the market, as any product recall can negatively impact the brand image and reputation of a company. As quality and safety are the key areas of focus for vendors that operate in the food and beverage industry, products are recalled once adulterated and hazardous foods are identified. There can be a number of reasons for product recalls, such as the presence of allergens, bacterial contamination, and packaging defects.
Danone, Fonterra Co-operative Group, FrieslandCampina, Lactalis, and Nestlé, ALPEN FOOD, Amul, Arla Foods, China Mengniu Dairy, Dairy Farmers of America, Dean Foods, Humana, Land O'Lakes, MORINAGA MILK INDUSTRY, Müller UK & Ireland, Parmalat, Schreiber, SODIAAL, Synlait Milk, Kraft Heinz, Wimm-Bill-Dann Foods, and YILI.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook