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I AgreeAnalysis of Enriched Milk Powder market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worldwide consumption of enriched milk powder is anticipated to rise at a CAGR of 5.9% through 2032. At present, the global enriched milk powder market accounts for a revenue of US$ 8.63 billion and is expected to surge to a valuation of US$ 15.38 billion by the end of the forecast period (2022-2032).
Poor eating habits have resulted in the increasing prevalence of lifestyle disorders, which has resulted in increased consumption of fortified and enriched foods to fulfil nutrition requirements.
Report Attributes |
Details |
---|---|
Market Size (2022E) |
US$ 8.63 Billion |
Forecasted Market Value (2032F) |
US$ 15.38 Billion |
Global Market Growth Rate (2022-2032) |
5.9% CAGR |
North America Market Share (2022) |
26.8% |
Europe Market Share (2022) |
23.3% |
Key Companies Profiled |
|
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Consumer preferences for food and nutrition have changed drastically over the past couple of decades owing to changing eating habits and rising incidence of chronic diseases.
Increasing focus on preventive healthcare and fitness has resulted in high demand for enriched and fortified foods to balance the nutrition gap created by poor lifestyle and eating habits.
Increasing awareness of health benefits associated with dairy product consumption is anticipated to favour enriched milk powder shipments over the years to come.
Longer shelf life than other dairy products is also a key factor that is expected to propel enriched milk powder sales. The rising use of enriched milk powder in the manufacturing of dietary and nutritional supplements is also expected to favour enriched milk powder market potential throughout the forecast period.
Advancements in packaging and preservation technologies are also expected to positively influence enriched milk powder demand. However, the availability of alternatives is anticipated to have a constraining effect on the overall growth potential.
Worldwide shipments of enriched milk powder are anticipated to increase at a CAGR of 5.9% from 2022 to 2032.
“Rapidly Rising Demand for Nutritional Supplements”
Consumers have become more aware of health and fitness than ever before and this trend has resulted in a substantial increase in demand for nutritional and dietary supplements. Poor eating habits and lifestyle disorders have also supplemented the demand for enriched milk powder as it is being used in various dietary and nutritional supplements.
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“Availability of Alternative Products Hindering Sales of Enriched Milk Powder”
Enriched milk powders are used extensively in various applications and by several consumers but there is still a large consumer base that prefers other alternatives. The availability of non-dairy fortified blends and powders has also increased over the past years and this could potentially slow down the enriched milk powder market growth across the forecast period.
“New Brands Can Invest in the R&D of Novel Products to Gain Competitive Edge”
New companies have been coming up with innovative technologies and products to enter the global enriched milk powder market and have successfully raised substantial investments to back their business.
New enriched milk powder market players are expected to solely focus on research to create novel products and technologies so they can raise capital through funding rounds to further market their products and gain a prominent market share.
“Europe to Exhibit Highly Rewarding Opportunities for Enriched Milk Powder Manufacturers”
The enriched milk powder market in Europe currently accounts for a net revenue total of US$ 2.01 billion and holds a market share of 23.3% in 2022 in the global industry landscape. Increasing focus on health and fitness, presence of key milk powder manufacturers, and rising consumption of nutritional and dietary supplements are key factors that govern the enriched milk powder market in this region.
The North America enriched milk powder market holds a significant market share of 26.8% at present and is valued at US$ 2.31 billion. Prevalence of lifestyle disorders, rising focus on health and nutrition, and increasing availability of enriched milk products are major aspects that shape market growth in this region.
A complete regional assessment of the global market has been provided in this latest enriched milk powder market research study by Fact.MR, a market research and competitive intelligence provider.
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Key enriched milk powder manufacturers are focusing on expanding their product portfolio to drive their sales and generate revenue.
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The global enriched milk powder market has reached a value of US$ 8.63 billion.
The market for enriched milk powder is expected grow to US$ 15.38 billion by 2032.
Global Sales of enriched milk powder are expected to rise at 5.9% CAGR through 2032.
The China enriched milk powder market holds a global share of 7.3%.