Milk Powder Market to reach $38.08 Bn, Globally, by 2025 at 4.4% CAGR

AMR

- Changes in preferences with a fast-paced lifestyle, its high nutritional value, and rise of retail network in developing economies drive the growth of the global milk powder market.

PORTLAND, Ore., Sept. 10, 2020 /PRNewswire/ --  Allied Market Research published a report, titled, "Milk Powder Market by Type (Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat-Filled Milk Powder, and Other Milk Powder) and Application (Nutritional Food, Infant Formulas, Confectionaries, Baked Sweets, Savories, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025." According to the report, the global milk powder industry generated $27.78 billion in 2017, and is expected to reach $38.08 billion by 2025, registering a CAGR of 4.4% from 2018 to 2025.

Prime determinants of growth

Changes in preferences with fast-paced lifestyle, its high nutritional value, and rise of retail networks in developing economies drive the growth of the global milk powder market. However, dieting trends and availability of additives hinder the market growth. On the other hand, usage of organic ingredients and development of new flavors present new opportunities in the coming years.

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COVID-19 Scenario

• Owing to lockdown imposed by governments during the COVID-19 pandemic, restaurants and hotels have been closed down. So, the demand from these end users has been reduced considerably, which in turn, affected the overall revenue.
• Moreover, reluctance of consumers to consume cold products such as yogurt, flavored milk, and ice-cream during the crisis affected the sales of milk powder. Logistical challenges also impacted sales.
• The import and export activities have been banned by some countries, and this led to the piling up of inventories in storage facilities of milk powder producers. Moreover, funds have been getting stuck in this process, so they are not able to make new investments.

The whole milk powder segment to maintain its highest contribution during the forecast period