Non Fat Dry Milk Market Worth US$ 10.7 Bn by 2032 – Exclusive Report by FMI

The global non-fat dry milk market is anticipated to expand at a CAGR of 3.1% during the forecast period, according to data from Future Market Insights. According to projections, the market would be worth US$ 10.7 Bn by 2032, up from US$ 7.8 Bn in 2022.

Non-fat dry milk, better known as powdered milk have many benefits which has led to the growth of this market across the globe. The shelf life of nonfat dry milk is much more than that of liquid milk and this is also a primary reason, boosting its demand. In addition to this, non-fat dry milk thickens food products. Future Market Insights (FMI) has published a new report, which is titled, “Non Fat Dry Milk Market: Asia-Pacific Excluding Japan (APEJ) to Dominate the Global Market in Terms of Revenue: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022). According to the report, the key factor bolstering the growth of this market is the extensive use of nonfat dry milk to prepare meat products, soups, cakes, puddings, as well as many confectioneries.

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Other benefits of non-fat dry milk, which are boosting its demand include the fact that it is a cheap source of non-fat dairy solids, can be easily transported without many precautions, a good source of functional dairy solids, and can be considered as a temporary replacement for whey proteins.

Yet, there are a few drawbacks of using non-fat dry milk, that have a negative impact on the growth of the global non nonfat dry milk market. Increasing prices of non-fat milk, altering taste, and a loss of original richness are some of the factors that are expected to restrict the growth of this market. These aspects are hindering the growth of the global nonfat dry milk market.

Non powdered milk is available both in the instant and non-instant form. Soups, puddings, and cakes are some of the items in which this type of milk is used. Nonfat dry milk helps retain the thickness of a food item by its rich texture and thus, finds its use in cereals and milk beverages. As per the research report by FMI, the global nonfat dry milk market will reach the figure of US$7.9 bn by 2022 and expand steadily during the period from 2017 to 2022. On the basis of geography, the market is segmented into Asia Pacific except Japan or APEJ, Europe, North America, and the Rest of the World. Of these, it is estimated that the most lucrative market for non-fat dry milk market will be APEJ. This region is slated to expand at a 3.8% CAGR from 2017 to 2022. Apart from APEJ, it is expected that North America will also show promising growth opportunities for the non-fat dry milk market.

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The high heat segment is predicted to lead in the global nonfat dry milk market, by product. This segment showed the highest market share in 2017, and this trend is expected to continue throughout the forecast period as this segment also shows the highest growth rate in the forecast period, that of 4.5% CAGR during the period of 2017 to 2022 and is also predicted to gain a high BPS by the end of 2022.

With respect to growth rate and market share, other retail formats segment also shows high potential. Also, in comparison to the modern trade segment, this segment shows a comparatively high growth rate. This segment is slated to have the highest BPS by the end of 2022 and is expanding at a CAGR of 3.6%.

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Non-Fat Dry Milk Market by Category

By Product Type:

  • High-heat
  • Medium-heat
  • Low-heat

By Sales Channel:

  • Modern Trade
  • Traditional Grocery Store
  • Convenience Stores
  • Online Channels
  • Direct Sales

By Application:

  • Home Reconstitutions
  • Dairy Whiteners
  • Bakery and Confectionery
  • Desserts
  • Ice-cream
  • Dairy Blends
  • Snacks
  • Nutritional Supplements

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA

Key players within the global non-fat dry milk market are profiled in this report for the purpose of study. The business and financial overview of these companies have also been analyzed in the report. Along with this, the information on the various expansion strategies adopted by leading players is given. Some of the key players operating in this market are: SunOpta, Inc., Blue Diamond Growers, Inc., Danone, OATLY A.B, Organic Valley Cropp Cooperative, Eden Foods Inc., The Hain Celestial Group, Inc., and Earth’s Own Food Company Inc.,

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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