Enriched Milk Powder Market

Enriched Milk Powder Market Outlook (2022-2032)

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	Arla Foods amba Fasska - Par S.A. Fonterra Co-operative Group Limited Tesco PLC Glanbia PLC Nuztri Best Health Products Ltd. Muntons Malted Ingredients Inc. Aurivo Co-operative Society Ltd. Gujarat Cooperative Milk Marketing Federation Synlait Milk Ltd. Lactalis American Group Inc. Milligans Food Group Ltd. Corlasa S.A.

Enriched Milk Powder Demand Analysis (2017-2021) in Comparison to Market Estimations (2022-2032)

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.

What are the Market Prospects for Enriched Milk Powder Suppliers?

“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.

How is Enriched Milk Powder Market Growth Being Dented?

“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.

How Can Start-ups Strengthen their Foothold in the Global Marketplace?

“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.

• Remilk, an Israeli food technology start-up founded in 2019, recently raised US$ 120 million in a funding round led by venture capital firm Hanaco Ventures. Remilk is revolutionizing the dairy industry by producing milk proteins from a fermentation process without using actual cow milk. The resultant product is 100% similar to cow milk but is free from lactose and cholesterol.
• Zero Cow Factory, an Indian microbial fermentation dairy company, is currently working on developing plant-based proteins that have a similar taste and effect as dairy proteins. The company aims to be different from other plant-based dairy product manufacturers.

How Will Demand for Enriched Milk Powder Increase on a Regional Level?

“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.

Competitive Landscape

Key enriched milk powder manufacturers are focusing on expanding their product portfolio to drive their sales and generate revenue.

• In June 2022, Fonterra, a leading dairy company’s flagship brand Anchor, announced the launch of a new line of products in the Middle Eastern marketplace. The new lineup also features a fortified full cream milk powder that is made from grass-fed cows and fortified with minerals and vitamins without any added colors or preservatives.
• In April 2021, Meghna Group of Industries in Bangladesh launched the country’s only dessert specialist - Fresh Dessert Instant Full Cream Milk Powder. The powder is directly sourced from the best farms in New Zealand and is fortified with calcium, iron, vitamin B, D, and A.

Key Segments Covered in Enriched Milk Powder Industry Research

• By Flavor :

  • Regular
  • Chocolate
  • Vanilla
  • Caramel
  • Others

• By Application :

  • Yogurt
  • Bakery
  • Ice Cream
  • Confectionery
  • Nutrition
  • Infant Formula
  • Processed Cheese
  • Others

• By Distribution Channel :

  • Direct Sales
  • Indirect Sales
    • Store-based Retail
      • Hypermarkets/Supermarkets
      • Convenience Stores
      • Specialty Stores
      • Independent Stores
      • Others
    • Online Retail

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA