The non fat dry milk global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Non Fat Dry Milk Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The non fat dry milk market size has grown strongly in recent years. It will grow from $7.92 billion in 2023 to $8.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased dairy products consumption, consumer preferences, dairy industry competition, economic factors, ingredient in food products.
The non fat dry milk market size is expected to see strong growth in the next few years. It will grow to $10.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to supply chain management, health and wellness trends, dietary preferences, dairy alternatives, rising population and urbanization. Major trends in the forecast period include product innovations, functional foods integration, sustainable product introduction, plant-based alternatives.
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Scope Of Non Fat Dry Milk Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Non Fat Dry Milk Market Overview
Market Drivers –
The health consciousness among consumers is expected to drive the growth of the non-fat dry milk market going forward. Health-conscious consumers (HCCs) are those consumers that live a wellness-oriented lifestyle and are worried about their environment and nutrition. The health consciousness among consumers is increasing due to the need for living a healthy lifestyle and prevent chronic diseases and long-term diseases. Many health-conscious individuals are opting for non-fat dry milk due to its various advantages such as powdered milk providing the same nutritional value as fresh milk, offering minerals that help in developing bones, and providing nutrition requirements by including a high level of protein, calcium, vitamin D, and vitamin. For instance, according to a survey result published in January 2021 by Public Health England (PHE), an England-based government agency for health and social care, a survey of more than 5000 adults showed that 7 in 10 adults were motivated to make healthier lifestyle changes owing to COVID-19 pandemic while 8 in 10 adults aged over 18 decided to alter their lifestyle in 2021. Therefore, health consciousness among consumers is expected to propel the growth of the non-fat dry milk market in the forecast period.
Market Trends –
Major companies operating in the non-fat dry milk market are developing innovative products such as organic whole milk powders to meet larger customer bases, more sales, and increase revenue. Organic whole milk powder refers to a dairy product made from fresh, whole milk that comes from organically raised cows. For instance, in May 2021, Lactalis Ingredients, a France-based whey and milk ingredients company, launched organic whole milk powder. The powder is appropriate for diverse functional food applications, extending from chocolate to bakery items. Lactali’s newest whole milk powder is crafted to meet the requirements of manufacturers aiming to produce organic food items. Additionally, consumers perceive these products to possess greater nutritional value compared to conventional foods.
The non fat dry milk market covered in this report is segmented –
1) By Type: Spray Dried, Roller Dried
2) By Classification: High-Heat NFDM (Non Fat Dry Milk), Medium-Heat NFDM (Non Fat Dry Milk), Low-Heat NFDM (Non Fat Dry Milk)
3) By Variety: Almond NFDM (Non Fat Dry Milk), Coconut NFDM (Non Fat Dry Milk), Soy NFDM (Non Fat Dry Milk), Other Varieties
4) By Function: Browning Or Color, Emulsification, Foaming, Water Binding, Flavor
5) By End-User: Residential, Commercial
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Regional Insights –
North America was the largest region in the non fat dry milk market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non fat dry milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the non fat dry milk market report are Blue Diamond Growers Co., All American Foods Inc., Alpen Food Group, American Dairy Products Institute, Anand Milk Union Limited, Arla Foods AMBA, Bluegrass Ingredients Inc., Bob’s Red Mill Natural Foods Inc., Cayuga Milk Ingredients LLC, Chicago Dairy Corporation, Clofine Dairy & Food Products, DairyAmerica Inc., DANA Dairy Group Ltd., Danone SA, Earth’s Own Food Company, Eden Foods Inc., Glanbia Ingredients Ireland Limited, Hain Celestial Group, Hilmar Cheese Company, Hochdorf Holding AG, Holland Dairy Foods LLC, Nestlé SA, NOW Foods Pvt. Ltd., Oatly AB, Organic Valley Cropp Cooperative, Revala Ltd., St Albans Cooperative Creamery, SunOpta Inc., Vreugdenhil Groep B.V., Agropur Cooperative, Ample Harvest.org, Associated Milk Producers Inc., Aurora Dairy Corporation, California Dairies, Inc., Continental Dairy Facilities LLC
1. Executive Summary
2. Non Fat Dry Milk Market Report Structure
3. Non Fat Dry Milk Market Trends And Strategies
4. Non Fat Dry Milk Market – Macro Economic Scenario
5. Non Fat Dry Milk Market Size And Growth
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27. Non Fat Dry Milk Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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