Overview and Scope
Non-Fat dry milk is the end product after removing the fat and water from the milk. It includes the same amounts of lactose, milk proteins, and milk minerals as the fresh milk from which it was manufactured. The moisture content of the product is less than 5% of the total weight.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The non-fat dry milk market report table of contents includes:
1. Executive Summary
2. Non-Fat Dry Milk Market Characteristics
3. Non-Fat Dry Milk Market Trends And Strategies
4. Non-Fat Dry Milk Market – Macro Economic Scenario
5. Global Non Fat Dry Milk Market Size and Growth
…..
31. Global Non-Fat Dry Milk Market Competitive Benchmarking
32. Global Non-Fat Dry Milk Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Non-Fat Dry Milk Market
34. Non-Fat Dry Milk Market Future Outlook and Potential Analysis
35. Appendix
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