Global Whole Milk Powder Market 2019-2023
About this market
Since whole milk powder contains milkfat between 26% and 42% and has moisture levels of less than 4.5%, it has a long shelf life of 6-12 months. Whole milk powder is considered as a solid form of nutritious milk. It is a source of dairy solids and can be easily stored as a dairy ingredient. Therefore, it is extensively used to produce confectioneries, bakery products, dairy, soups. and sauces. Low moisture levels in whole milk powder help retain the nutritional qualities for long periods of time. Remote locations with a limited supply of raw milk, owing to insufficient infrastructure and transportation facilities. exhibit high demand for long shelf life products such as whole milk powder. Since, whole milk powder has longer shelf life than raw milk, it will act as a major factor driving the market growth. Technavio’s analysts have predicted that the whole milk powder market will register a CAGR of almost 1% by 2023.
Increasing demand from emerging economies
In terms of population. developing countries are likely to grow to faster than developed countries and will eventually add a huge consumer base to emerging markets in the coming years. The growing countries will have a large part of their population above the age of 33 years. Vendors can potentially tap this fast-growing and young population, which can drive expenditure from consumers on varied categories such as clothing, education, technologies, and eateries. Therefore. the expenditure on whole milk powder is also expected to increase.
Growing demand for UHT milk
UHT milk is an alternative to milk and milk powders in the market. The high demand for UHT milk demand poses a serious challenge to the global whole milk powder markets.
For the detailed list of factors that will drive and challenge the growth of the whole milk powder market during 2019-2023, view our report.
The market appears to be highly fragmented and with the presence of several market players. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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