According to Future Market Insights research, the global non-fat dry milk market is expected to grow at a CAGR of 3.1% during the forecast period. The market value is projected to increase from USD 8.4 billion in 2023 to USD 11.3 billion by 2033.
The ability to provide a number of health benefits, along with low cost, and a lot of other factors are expected to increase the sales of non-fat dry milk during the forecast period.
| Attributes | Value |
|---|---|
| Market Size Value in 2023 | USD 8.4 billion |
| Market Forecast Value in 2033 | USD 11.3 billion |
| Market Anticipated CAGR (2023 to 2033) | 3.1% |
When compared to liquid milk, non-fat milk has a longer shelf life. This is expected to increase the demand for non-fat dry milk during the forecast period.
Moreover, there are not many transportation problems that exist in case of the non-fat evaporated milk, as the chances of leakage are way less as compared to liquid milk. This as well might increase the sales of non-fat dry milk during the forecast period.
Moreover, the production cost associated with non-fat dry milk is much less as compared to liquid milk. This as well is expected to boost the non-fat dry milk market.
Additionally, being a rich source of protein, calcium, and vitamins, these are prescribed by nutritionists as well. Moreover, during the production process, fats are removed from them, which makes them extremely safe to consume. This as well is expected to increase the demand for non-fat dry milk during the forecast period.
Not only nutritionists but even doctors have also encouraged the intake of non-fat dry milk. The reason is that they are a rich source of potassium, and are effective in controlling blood pressure. This is expected to surge the sales of non-fat dry milk during the forecast period.
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Ability to be fortified
One of the biggest market drivers of non-fat dry milk is its ability to be fortified. The manufacturers are able to take the best possible advantage of this as they can add flavors like vanilla, strawberry, chocolate, etc.
Not only that, with growing health-conscious consumers, the manufacturers have probably made the best possible alterations by adding necessary nutrients like calcium, magnesium, zinc, etc. This might well increase the demand for non-fat dry milk during the forecast period.
Product Versatility
With the application of non-fat dry milk, the scope of usage broadens. These can be added to baked goods, and that too in any form. This helps in providing a lot of flexibility.
Not only that, but these are also used in soups in many restaurants. The reason being they allow the soup to be used effectively as an appetizer. Being a rich source of protein helps the usage of non-fat dry milk in soup improve digestion.
Thus, the ability to be used across different settings is expected to increase the sales of non-fat dry milk during the forecast period.
Rapid urbanization
Rapid urbanization has resulted in an increase in lifestyle diseases. The reason is an increase in the sedentary lifestyle, which has led to hardly any physical activity.
Owing to this, there has been an increased usage of this dry milk. This might increase the demand for non-fat dry milk during the forecast period.
Bitter taste
The non-fat dry milk has a bitter test. Resultantly, if we are using it in any sweet dish, we need to add more sugar, or even otherwise to ensure that the bitter taste is compensated. This can be a barrier for people who are suffering from diabetes.
Not suitable for people experiencing lactose intolerance
There is no lactose free option in case of non-fat dry milk. This is unsuitable for those who experience lactose intolerance. This might pose some challenge to the sales of non-fat dry milk.
Principal Consultant
There are certain developing economies like India, China, Nigeria, etc. which are growing at a much more rapid rate, even greater than the developing countries. These countries have been into consuming more conventional milk.
The growth of such nations presents lucrative opportunities to the non-fat dry milk market as these nations continue to be virtually untapped, except for the presence in certain developed cities.
Moreover, there are certain governmental initiatives that are being undertaken with a specific focus on malnutrition in such regions. The manufacturers of the non-fat dry milk market can take advantage of this situation and use this to effectively convey the health benefits of dry milk.
| Country | United States |
|---|---|
| 2022 Value Share in Global Market | 30.4% |
In the United States, the cost of low/medium heat non-fat dry milk (NDM) has been increasing this year. Demand is rising and it is predicted to rise due to seasonal milk supply drops and increased processing needs. Although the availability of non-fat dried milk has increased, processing capacity continues to be hampered by personnel and supply chain limitations.
Looking at all this, the demand would surely increase but not at the rate it should have.
The non-fat dry milk market in the United Kingdom is driven by factors such as a dairy-rich eating pattern, a long shelf life, lower shipping and infrastructure costs, rising spending power, and an expanded assortment of powdered milk as an alternative to new milk, among many others.
Busy lifestyles have led to people testing new variations that can help them save time. Milk powder is a convenient, portable choice that can be taken anywhere, boosting the non-fat dry milk market in the United Kingdom.
In addition, the use of non-fat dry milk in baby nutrition is expected to present several business prospects in the coming years. The Europe Milk market is predicted to increase at a faster rate. Flavored non-fat dry milk is becoming more widely available.
| Country | India |
|---|---|
| 2022 Value Share in Global Market | 3.8% |
India is the global dairy industry's nerve center, providing a number of opportunities for entrepreneurs seeking to profit from one of the world's fastest-growing marketplaces for non-fat dry milk products. As a result, the milk product market in the country has seen an influx of new entrants, as well as a variety of product introductions.
The food and beverage industry uses non-fat dry milk extensively, which is driving the non-fat dry milk market in India. The consumption of fresh dairy products in India, for example, is predicted to rise by 2.3 percent every year, according to figures released by the Food and Agricultural Organization.
Currently, North America is the largest non-fat dry milk market. That is because of the presence of a number of manufacturers pertaining to the niche in the region.
Moreover, the region is meant for trying experiments with various dishes. This is something that has grabbed the attention of lots of entrepreneurs who are into the food and beverage industry. Consequently, they have started making use of non-fat dry milk, especially in sweet dishes.
However, if we talk about the fastest-growing market, it is Asia Pacific. Increasing urbanization and increasing disposable income is something that has given the privilege to the people in this region to try out something new.
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The high-heat segment had the top market share during the 2018 to 2022 period. In the forecast period as well, it is anticipated that the demand for high-heat non-fat dry milk remains at the maximum.
The reason being there is high consumption of meat products and baked goods. The high-heat non-fat dry milk is used in both cases. Apart from that, they are increasingly used in high mixes as well.
Because of the number of benefits of online sales channels, which include huge discounts, delivery in our home, slot selection basis our availability, etc. is expected to increase the market share of online sales channels.
Apart from that, the Internet is spreading at a rapid pace, which will ensure that the online sales channel will be accessible even in those regions where the Internet does not exist currently.
The non-fat dry milk is a rich source of nutrients like Calcium, Protein, Potassium, etc. Because of this, they are increasingly employed in the form of nutritional supplements. These are expected to grow at a CAGR of around 5% during the forecast period.
However, if we talk about another segment that comes close to nutritional supplements, it is home reconstitutions. In fact, in 2022, it had the largest share of 21.7%.
But, owing to the increase in health consciousness, the nutritional supplement segment has the highest market share.
With so many benefits offered by non-fat dry milk, start-ups are looking at ways to expand their usage across different sectors to expand the non-fat dry milk market. Not only that, the start-ups are also looking at ways to contribute to the economy in the best possible manner.
Some of the notable start-ups in the non-fat dry milk market are:
AgNext: The business model of AgNext is based on the development of a full stack integrated solution, which is deployed as ‘Qualix’, which is a SaaS platform.
The USP of the business lies in the fact that Qualix is able to provide an accurate composition and adulteration testing within a span of mere 30 seconds. This is something that has made the investors bounce off the walls. This is expected to benefit farmers as Qualix makes use of AI on the edge.
Owing to its excellence, AgNext was able to raise USD 21 million in a series A funding round led by AWI fund in November 2021.
MilkLane: MilkLane has an impressive image of being India’s first industrial-scale high-quality milk collection and supply platform which focuses on changing the supply chain landscape for the benefit of Indian farmers. This is like hitting the jackpot as India is the world fastest growing dairy market
This start-up has been established at a time when the world sees India as a huge potential, especially after it became the fifth largest economy in the world, leaving behind the UK.
Moreover, investors were hooked by the fact that MilkLane works with farmers to scale up their herd size from 2-3 to as high as 25-30.
As a result of its ability to deliver any which way, MilkLane was successful in raising? 27 Crores in pre-Series A funding round. The funds were raised from Schreiber Foods, Pioneering Ventures, and ultra-high-net-worth families.
With a significant number of domestic and multinational competitors fighting for market share, the global non-fat dry milk market is fragmented. As a result of shifting consumer food patterns and ample milk supply, companies are focused on new product launches with natural or organic claims as their primary marketing approach.
If non-fat dry milk formulations match industry criteria, the sports nutrition and infant meals industries could be a lucrative source of revenue for market players.
Some of the recent developments in the non-fat dry milk market are:
Arla Foods, Nestle S.A., and Amul Now Foods have their eyes set in the prize, as they take one another to become the undisputed champions in the non-fat dry milk market
Arla Foods is owned by a group of farmers. Who better could understand about the customer desires than Arla. Arla has always believed in securing the highest value for the farmers’ milk while creating opportunities for their growth.
They have always wanted to create as much value as possible from the milk producers’ milk, thereby helping them post a competitive price. Additionally, Arla has also laid emphasis on creating the future of diary to bring health and future. They have played a significant role in developing the dairy infrastructure for the coming generations, and setting up new trends in dairy consumption.
On 30th May’22, Arla inaugurated its biggest dairy investment to support growing demand for affordable dairy nutrition. This was done by inaugurating a production plant at Pronsfeld dairy in Germany.
Nestle is synonymous to mass appeal. This is visible from its rich history of more than 150 years. The focus has always been on energy and resources where unlocking the power of food can make the greatest positive impact on the planet.
Nestle has been applying its expertise in nutrition, health, and wellness. They have been bringing distinctive, premium innovations which has always been steered by creative exploration and culinary brilliance. Additionally, the focus has always been on achieving key sustainable goals to drive a healthy planet and societal progress.
On 12th September’22, Nestle announced that it would be exploring technologies developing animal free dairy protein-based products.
Amul’s began way back in the year 1946, when India was at the brink of getting independence. With its fantastic supply chain management, Amul has managed to serve top notch dairy products throughout India.
Amul follows a three-tiered structure, which has ensured that it continues to maintain its dominance in the Indian market. These are: establishing a direct link between milk producers and consumers, farmer’s control procurement, processing, and marketing, and professional management.
All these practices have ensured that Amul continues to enjoy the position which makes it virtually a one-of-a-kind brand in India.
The market is valued at USD 8.4 billion in 2023.
The ability to be fortified is the prominent market driver.
It is not suitable for people experiencing lactose intolerance.
Dairy-rich eating pattern, with a long shelf life, shapes the United Kingdom market.
The market is estimated to reach USD 11.3 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. High-heat 5.2. Medium-heat 5.3. Low-heat 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 6.1. Modern Trade 6.2. Traditional Grocery Store 6.3. Convenience Stores 6.4. Online Channels 6.5. Direct Sales 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Home Reconstitutions 7.2. Dairy Whiteners 7.3. Bakery and Confectionery 7.4. Desserts 7.5. Ice-cream 7.6. Dairy Blends 7.7. Snacks 7.8. Nutritional Supplements 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. HOCHDORF Holding Ltd. 18.2. The St. Albans Cooperative Creamery 18.3. American Dairy Products Institute 18.4. Bob’s Red Mill Natural Foods 18.5. Nestle S.A. 18.6. All American Foods, Inc. 18.7. Arla Foods 18.8. DairyAmerica, Inc. 18.9. Amul NOW Foods 18.10. Earth’s Own Food Company Inc. 18.11. The Hain Celestial Group 19. Assumptions & Acronyms Used 20. Research Methodology
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Non-fat Dry Milk Market
