Non-Fat Dry Milk Market

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.

Market Dynamic

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.

COVID-19 Impact

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 Type:

• High-heat
• Moderate-heat
• Lower-heat.

By Application:

• Confectionery
• Ice-creams and Snacks
• Nutritional supplements
• Bakery
• Dairy products

By Packaging:

• Plastic-coated paper board
• Plastic pouches
• Non-returnable polyethylene containers
• Returnable rigid polycarbonate containers
• HDPE (High-density polyethylene)

By End User :

• Hypermarkets/Supermarkets
• 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)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, 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.
• The Europe market is projected to account for the largest share of the market. This can be attributed to the presence of major countries with colossal dry milk production, such as France, Belgium, Denmark, and Germany.

Competition Analysis

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:

• In April 2022, Dwan Zier, a board member at Hain Celestial, was honored as a member of the NACD Directorship 100.
• In April 2022, HOCHDORF will improve management in terms of sales and innovation. The Chief Revenue Officer has been named Gerina Eberl Hancock. Chief Innovation Officer Lukes Hartmann has been chosen for the position.

A list of some of the key suppliers present in the market are:

• HOCHDORF Holding Ltd.
• The St. Albans Cooperative Creamery
• American Dairy Products Institute
• Bob’s Red Mill natural foods
• Nestle S.A.
• All American Foods, Inc.
• Arla Foods
• Inc
• Amul NOW Foods
• Earth’s Own Food Company Inc.
• The Hain Celestial Group.

Report Coverage and Highlights

• 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.