The global milk powder market is on a robust growth trajectory, projected to reach US$ 51.96 billion by 2033, up from US$ 33.69 billion in 2024, expanding at a CAGR of 4.93% from 2025 to 2033, according to Renub Research. This growth is primarily fueled by rising infant formula consumption, increasing demand for convenient dairy products, and the surge in health-conscious consumer trends.

Market Overview

Milk powder, also known as dried milk, is created by evaporating liquid milk until it becomes a fine powder. This product offers several advantages, including extended shelf life, easy transport, and versatility in culinary and industrial applications. As urbanization and busy lifestyles gain pace worldwide, milk powder is becoming a preferred alternative to liquid milk due to its convenience and ease of storage.

The shift in dietary preferences, especially among millennials and younger demographics, is leading to the rising popularity of ready-to-use dairy-based products. Coupled with increasing infant formula consumption in emerging economies, the milk powder industry is witnessing unprecedented demand.

Explore the detailed report here: Global Milk Powder Market Report

Key Market Drivers

1. Growing Infant Formula Consumption

The demand for infant formula is a major driver of the milk powder market. With more working mothers globally and rising disposable incomes in developing countries, infant formula fortified with essential nutrients is becoming a necessity for infant nutrition.

2. Urbanization and Convenience Trends

Modern consumers seek food products that are both convenient and nutritious. Milk powder fits this demand, as it is lightweight, non-perishable, and easy to reconstitute with water. Its use in bakery, confectionery, and processed foods has significantly increased.

3. Health-Conscious Consumer Behavior

There is a growing demand for fortified milk powder enriched with vitamins, minerals, and proteins. Consumers are also gravitating toward organic and high-quality dairy products, further driving the premium segment of the milk powder market.

4. Expanding Food and Beverage Industry

Milk powder is widely used in chocolates, desserts, beverages, bakery items, and sauces. The growth of the global foodservice sector and packaged food industry directly impacts milk powder demand.

5. Export Potential

Countries like New Zealand, Australia, and the European Union are global leaders in milk powder production and exports. The rising demand for dairy imports in Asia-Pacific and Africa offers significant market expansion opportunities.

Market Segmentation

By Product Type

• Whole Milk Powder

• Skimmed Milk Powder

• Buttermilk Powder

• Others

By Application

• Infant Formula

• Confectionery

• Bakery Products

• Dairy Blends

• Beverages

• Others

By Distribution Channel

• Hypermarkets & Supermarkets

• Convenience Stores

• Online Retail

• Specialty Stores

• Others

Regional Insights

Asia-Pacific Leads Global Demand

Asia-Pacific is the largest consumer of milk powder, with China and India leading the demand due to their large populations and growing middle-class consumer base. Infant formula sales in China, driven by rising urbanization and declining breastfeeding rates, are contributing heavily to this growth.

Europe and North America

Europe remains a top producer, thanks to advanced dairy farming techniques and established export channels. North America, driven by rising health-consciousness and demand for sports nutrition products, is also witnessing notable milk powder consumption.

Latin America and Middle East & Africa

Latin America’s growing bakery and confectionery industries are boosting milk powder imports. Meanwhile, Africa’s dairy sector, though still developing, shows strong growth potential due to increasing urban populations and food security initiatives.

Competitive Landscape

Leading players are focusing on innovation, strategic collaborations, and expanding their product portfolios. Key companies in the milk powder market include:

• Nestlé S.A.

• Fonterra Co-operative Group Limited

• Danone S.A.

• Arla Foods amba

• Dairy Farmers of America, Inc.

• Saputo Inc.

• FrieslandCampina

• Lactalis Group

These players are investing heavily in research and development to introduce fortified and organic milk powder variants that align with changing consumer preferences.

Future Outlook

The global milk powder market is expected to witness steady growth, driven by increasing applications in infant nutrition, bakery, confectionery, and beverages. Innovations in dairy processing and the rise of lactose-free and plant-based blends will also shape the industry landscape.

10 Frequently Asked Questions (FAQs)

1. What is the current size of the global milk powder market?
As of 2024, the global milk powder market is valued at US$ 33.69 billion.

2. What is the forecasted growth rate of the milk powder market?
The market is projected to grow at a CAGR of 4.93% from 2025 to 2033.

3. What will be the market size by 2033?
The global milk powder market is expected to reach US$ 51.96 billion by 2033.

4. What are the main drivers of the milk powder market?
Key drivers include rising infant formula consumption, growing demand for convenience foods, health-conscious consumer trends, and the expanding foodservice industry.

5. Which product segment dominates the milk powder market?
Whole milk powder and skimmed milk powder are the leading segments, with infant formula being the largest application area.

6. Which region has the highest milk powder consumption?
Asia-Pacific dominates the global milk powder market, led by China and India.

7. Who are the key players in the global milk powder market?
Major companies include Nestlé, Fonterra, Danone, Arla Foods, FrieslandCampina, and Lactalis Group.

8. How is the rise of e-commerce affecting the milk powder market?
Online retail platforms are expanding the availability and reach of milk powder products, offering consumers greater convenience and variety.

9. Is there a trend toward organic milk powder?
Yes, health-conscious consumers are increasingly opting for organic and fortified milk powder options.

10. How does milk powder compare to liquid milk in terms of demand?
Milk powder is preferred for its longer shelf life, easy storage, and wide use in processed foods, making it a strong alternative to liquid milk.

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