Milk Powder Market is Expected to Reach 58.4 Billion by 2033 | Rising at a CAGR of 5.4%

IMARC Group, a leading market research company, has recently released a report titled "Milk Powder Market Report by Product Type (Whole Milk Powder, Skimmed Milk Powder), Function (Emulsification, Foaming, Flavouring, Thickening), Application (Infant Formula, Confectionery, Sports and Nutrition Foods, Bakery Products, Dry Mixes, Fermented Milk Products, Meat Products, and Others), and Region 2025-2033." The study provides a detailed analysis of the industry, including the global milk powder market share, size, trends, growth and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Milk Powder Market Overview

The global milk powder market size reached USD 36.5 Billion in 2024 and is expected to reach USD 58.4 Billion by 2033, growing at a CAGR of 5.4% during the forecast period 2025-2033. Growth is driven by rising global population and urbanization, expansion of the infant formula sector, growing health consciousness, and advancements in dairy technology. The milk powder market is increasingly important in food, pharmaceutical, and cosmetic industries, boosted by rising demand for convenient, nutritious, and long-lasting products.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Milk Powder Market Key Takeaways

• Current Market Size (2024): USD 36.5 Billion
• CAGR (2025-2033): 5.4%
• Forecast Period: 2025-2033
• Market expansion is driven by urbanization, increasing infant formula consumption, and demand for dietary supplements.
• Whole milk powder dominates the market due to richer flavor and nutritional content.
• Major applications include infant formula, confectionery, sports nutrition, and bakery products.
• European Union holds the largest regional market share.
• Technological advancements in production and packaging enhance product quality and shelf life.
• Strategic alliances, mergers, and sustainability efforts characterize competitive dynamics.

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Market Growth Factors

The milk powder market grew from demand for such products globally due to the increasing world population, urbanization and urban consumers preferring food products that do not require refrigeration, which makes milk powder a convenient, valuable commodity with a longer shelf-life especially in urban areas. Major factors drive the milk powder market growth with the demand booming for various infant formula products because awareness rises regarding infant nutritional needs, birth rates increase, and the number of working women rises.

Consumers turn health conscious. Dietary supplements for calcium and protein are bought by consumers. Milk powder is an essential ingredient for dietary supplements. Such trends are anticipated to drive the growth of the milk powder market via energy bars, protein drinks, energy drinks, and energy shot products as well as others. In addition, lactose intolerance increasingly prevails so other kinds of powdered milk such as lactose-free milk powders develop.

Bakery and confectionery industry growth helps the milk powder market grow because milk powders make cake mixes, cookies, chocolates, and pastries taste better and last longer and have a better texture. Other factors contributing to this include the rise toward premiumization, new flavors, innovations in spray drying and membrane filtration technologies that provide consistency and improve shelf-life, and new packaging technologies that offer freshness and convenience.

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Market Segmentation

Breakup by Product Type:

• Whole Milk Powder: Dominates due to richer flavor, higher fat-soluble vitamins, and essential fatty acids. Preferred in culinary applications for creamy textures and in emerging economies for energy density.
• Skimmed Milk Powder: Growth driven by health-conscious consumers preferring low-fat, high-protein dairy. Used in low-calorie baked goods and dairy products due to functional properties and extended shelf life.

Breakup by Function:

• Emulsification: Important for processed and convenience foods like dressings and sauces; driven by technological innovations and demand for natural emulsifiers.
• Foaming: Used in beverages, whipped creams, mousse; benefits from food processing advancements and trend towards vegan, clean-label products.
• Flavouring: Propelled by demand for exotic and authentic flavors, ethnic cuisines, and flavor encapsulation technologies.
• Thickening: Enhances textures in sauces, soups, and pharmaceuticals; rising demand for natural, clean-label thickeners.

Breakup by Application:

• Infant Formula: Fueled by parental awareness, rising infant population, and formula innovations with probiotics and vitamins.
• Confectionery: Driven by demand for indulgent, premium products, flavor innovation, and healthier reformulations.
• Sports and Nutrition Foods: Marketed towards health-conscious consumers seeking protein-rich products like energy bars and shakes.
• Bakery Products: Used to improve texture, flavor, shelf life; growth in artisanal and gluten-free bakeries.
• Dry Mixes: Popular for convenience foods requiring quick preparation like soups and desserts.
• Fermented Milk Products: Important for probiotic-rich foods like yogurt; rising demand for low-fat, high-protein variants.
• Meat Products: Used for flavor, moisture retention, and binding in processed meats.
• Others: Includes beverages, ice creams, and ready-to-eat meals benefiting from convenience and nutritional enhancement.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

European Union leads the milk powder market with the largest share, attributed to demand for sustainable and convenient dairy products, stringent quality and regulatory standards, and strong dairy industries in countries like Netherlands, France, and Germany. The region emphasizes organic and non-GMO products and exports to deficit markets. This leadership is supported by high consumer standards and innovative dairy processing technologies.

Recent Developments & News

• March 2022: Fonterra announced plans to reduce greenhouse gas emissions by 30% at all manufacturing sites by 2030 to align with sustainability goals.
• September 2022: Arla Foods launched a new infant milk formula range designed to strengthen their global infant nutrition market position.
• January 2023: Royal FrieslandCampina N.V. introduced a fortified milk powder range targeting health-conscious consumers including elderly and athletes.

Key Players

• Arla Foods amba
• Dairy Farmers of America, Inc.
• Danone S.A.
• Fonterra Co-Operative Group Limited
• HOCHDORF Swiss Nutrition AG
• Lactalis Ingredients
• Nestlé S.A.
• Olam International Limited
• Royal FrieslandCampina N.V.
• Saputo Inc.
• Schreiber Foods
• Westland Milk Products

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