Dry Whole Milk Powder Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022
Albany, NY -- (SBWIRE) -- 09/18/2017 -- Dry whole milk powder is a product obtained by removing water from whole milk. The fat content in whole milk powder usually ranges from 26% to 40% and the water content ranges from 3-5%. Converting milk into milk powder addresses the perishability concern of dairy products. Milk powder has an extended shelf life and can be stored up to one year without substantial loss of quality. Milk powder is particularly desirable in places with temperature extremities and poor transport facilities.
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The advantage of reduced bulk for economy of transportation also accounts for a key factor for conversion of milk into milk products. In addition, rising disposable incomes in emerging nations is leading to adoption of Western practices of stocking up food in in the pantry is also boosting sales of powdered milk. The increasing purchasing power of individuals in several parts of the world leading to rising demand for confectionery and bakery products is also driving sales of powdered milk that is available in a few types.
On the contrary, concerns of lack of essential nutrients such as vitamin C, vitamin B12, and thiamin in whole milk powder and incidents of infant deaths due to consumption of adulterated powdered milk is leading to dwindling sales of the powdered milk.
According to a report by Transparency Market Research, the growth of the global market for dry whole milk powder will be moderate over the 2017-2022 forecast period. The global dry whole milk powder is expected to expand at a CAGR of 4.6% between 2017 and 2022, for the market's valuation to become US$12,761.1 mn by the end of 2022 from US$10,205.3 mn in 2017. Following are the insights revealed from the report how the global dry whole milk powder market will sail through until 2022.
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Key Insights on Global Dry Whole Milk Powder Market
1. Amongst the key product types, the segment of instant dry whole milk powder holds dominance in the market. Instant dry whole milk powder is expected to represent 30.8% of the market in 2017. Expanding at a CAGR of 4.7% for the forecast period between 2017 and 2022, the instant product type segment is expected to be worth US$3,958.1 mn by the end of 2022 representing 31% of the overall market.
2. The instant product type segment is expected to display a year on year absolute growth of US$163.5 mn over the course of the forecast period, which is larger than any other product segment.
3. Asia Pacific except Japan (APEJ) is expected to hold supremacy vis-à-vis revenue in the global dry whole milk powder market in 2017. APEJ is the most attractive regional market expected to display a CAGR of 5.2% for the 2017-2022 forecast period.
4. North America dry whole milk powder market is expected to display moderate growth at a CAGR of 3.1% between 2017 and 2022. At this pace, the market's valuation of US$323.2 mn in 2017 will become worth US$376 mn by the end of 2022.
5. Europe dry whole milk powder market is expected to display declined growth over the 2017-2022 forecast period. The region is expected to contribute 11.4% revenue share to the overall market by 2017.
6. Japan dry whole milk powder market is expected to contribute 1.1% revenue share to the global dry whole milk powder by the end of 2017.
The report mentions and profiles leading players in the global dry whole milk powder market. These include Nestle, Lactalis Group, Fronterra, FrieslandCampina, Danone, Belgomilk, Dana Dairy, Saputo Ingredients, Almira, and Amul.
The global dry whole milk powder market is segmented as follows:
Global Dry Whole Milk Powder, by Product Type
Global Dry Whole Milk Powder, by Sales Channel
Traditional Grocery Store
Other Retail Formats
Global Dry Whole Milk Powder, by Application
Bakery and Confectionery