Whole Milk Powder Market Insight: —
Increasing working women population also resonates growth potential. Rising awareness about bone density is likely to encourage a larger fraction of the women population to increase the intake of milk. This, in turn, is anticipated to revolutionize the growth trajectory of the whole milk powder market in the forthcoming years. Similarly, the rising geriatric population is also poised to reflect on the growth of the market in the years to come. The consumption level is likely to increase among the elderly adults, which is prognosticated to favor the proliferation of whole milk powder market in the upcoming years.
Whole milk powder is also extensively in demand as a key ingredient across the food & beverage industry. The growth of the industry is forecasted to catalyze growth of the market across the review period. In addition, the product is also in high demand across the bakery & confectionery industry. Increasing demand for bakery products is likely to encourage the proliferation of the whole milk powder market over the assessment period.
Whole milk powder is made by evaporating moisture content in milk and creating a powder-like substance. It has gained much popularity in the past few years and is anticipated to attract a larger consumer base over the next couple of years. The study published by Market Research Future (MRFR) recently has highlighted the fact that the global whole milk powder market is projected to strike a moderate CAGR over the forecast period 2018 to 2023.
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The product has gained quick mileage and is anticipated to cater to the needs of people from all age groups. However, the increasing birth rate is a major factor expected to propel the expansion of the whole milk powder market over the next couple of years. The increasing population of infants is poised to boost the sales of the product in the forthcoming years.
The noted players profiled for an exhaustive share analysis of the global whole milk powder market are-
• Fonterra Co-Operative Group Ltd (New Zealand)
• Hilmar Cheese Company, Inc. (US)
• Glanbia plc (Ireland)
• Milk Specialties company (US)
• Carbery Group Ltd. (Ireland)
• Arla Foods amba (Denmark)
• Cargill Corporation (US)
• Davisco Food International Inc (US)
• Dairy Farmers of America Inc (US)
• Maple island Inc. (US)
On the basis of Type, the global whole milk powder market has been segmented into instant whole milk formula, regular whole milk formula, and others (organic and caramelized). Among these, the regular whole milk formula segment is expected to hold the maximum share of the market in the forthcoming years. In addition, the instant whole milk formula segment is poised to register the highest growth rate over the forecast period owing to rising market penetration.
On the basis of Application, the whole milk powder market is segmented into snacks, dairy, ice-cream & desserts, bakery & confectionery, and others (supplements, and whiteners). The dairy segment is anticipated to account for a major share of the market over the next few years. Meanwhile, the bakery & confectionary segment is prognosticated to expand at a relatively higher CAGR across the review period.
The Global Whole Milk Powder Market, on the basis of region, has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the largest regional segment in the global market. It is expected to retain its control over the lion’s share of the market in the years to come. The expansion of product lines introduced by the key players in the region is also projected to boost the growth trajectory of the whole milk powder market. Asia Pacific is likely to exhibit rapid developments in the forthcoming years. Exponentially increasing population is poised to favor the proliferation of the whole milk powder market in the region.
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