Albany, NY -- (SBWIRE) -- 02/18/2019 -- According to the estimations of the research report, the worldwide market for dry whole milk powder offered an opportunity worth US$10.20 bn in 2017. Researchers expect it to expand at a CAGR of 4.60% during the period from 2017 to 2022, and attain a value of US$12.76 bn by the end of the period of the forecast. In 2017, instant milk powder surfaced as the most valued products. Expanding at a CAGR of 4.70% during the forecast period, this segment is expected to maintain its lead.

Key Takeaways

Instant milk powder surfaced as the most valued products.
APEJ has been leading the global dry whole milk powder market.

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Long Lasting Shelf-life to Boost Demand for Dry whole milk powder

"The long-lasting shelf-life of dry whole milk powder when compared to the perishability of fresh dairy products is one of the main factors behind the high demand for dry whole milk powder, across the world," says the author of the study. The factor that milk powder can be kept away for nearly one year without a noteworthy loss of value, is also propelling this market significantly. Dry whole milk powder has especially emerged lucrative for zones that are responsible to temperature furthest points and for arrays that do not have reliable frosty chains for exchange of perishable dairy items, states the report.

Global Dry Whole Milk Powder Market: Trends and Opportunities

The advantage of an extended life of milk powder over milk due to low water content is one of the key factors driving sales of powdered milk. Converting milk into milk powder addresses the perishability concern associated with dairy products. This is particularly important for areas that are subject to temperature extremities and also for areas that have poor transport facilities. The transport of milk powder is also economical as compared to the transport of milk due to reduced volume and weight.

The rising disposable incomes and changing lifestyle is also having a positive impact on the global dry whole milk powder market. This is because consumers are spending substantial money on bakery and confectionery products that require dry whole milk powder in substantial amounts. The adoption of Western practices of stocking food in the pantry in emerging economies of Asia Pacific is also driving the demand for powdered milk that is available in a few types.

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Latin America, Asia Pacific excluding Japan (APEJ), Europe, North America, Japan, and the Middle East and Africa have emerged as the main geographical categories of the worldwide market for dry whole milk powder. Among these, APEJ has been leading the global market and is anticipated to remain on the top over the next few years, states the research report.