What is the non-fat dry milk market size-?
Non Fat Dry Milk Market accounted for US$ 7.8 billion in 2022 and is estimated to be US$ 11.1 billion by 2032 and is anticipated to register a CAGR of 3.4%.
The non-fat dry milk market is a critical segment within the global dairy industry. Non-fat dry milk, often abbreviated as NFDM or skim milk powder, is produced by removing water and fat from whole milk, resulting in a fine powder with a long shelf life. It serves as a versatile ingredient in various food products, including baked goods, confectionery items, dairy beverages, and nutritional supplements.
The market for non-fat dry milk is influenced by several factors, including changing dietary preferences, the growing popularity of low-fat and fat-free dairy options, and the demand for shelf-stable dairy products. Moreover, it plays a pivotal role in food manufacturing, functioning as a cost-effective and convenient alternative to liquid milk in the production of a wide range of consumer goods.
As consumer preferences evolve towards healthier and more convenient food choices, the non-fat dry milk market continues to adapt and innovate. Understanding the dynamics of this market is essential for industry stakeholders and analysts to anticipate trends and capitalize on emerging opportunities. In this context, it is crucial to explore the market’s growth, emerging trends, and factors influencing its trajectory.
Key Market Insights from the report:
- Based on Type, Non Fat Dry Milk Marketis segmented into Low Heat, Medium Heat, and High Heat.
- Based on Application, Non Fat Dry Milk Marketis segmented into Dairy Products, Confectionery, Desserts and Bakery, Meat Products, Infant formula, and Prepared Dry Mixes.
- By Region, the Non Fat Dry Milk Marketis segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Competitive Landscape & their strategies of Non Fat Dry Milk Market:
The prominent players operating in the Non Fat Dry Milk Market includes,
- Blue Diamond Growers Inc.
- OATLY A.B
- Danone S.A
- Jaw Der Develop Co. Ltd.
- Eden Foods, Inc.
- Organic Valley CROPP Cooperative
- SunOpta, Inc.
- The Hain Celestial Group Inc.
- Dana Dairy Group
- Glanbia Ingredients Ireland Ltd.
- Holland Dairy Foods.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Key factors driving the demand for non-fat dry milk:
- Consumer Health and Dietary Preferences: Consumers are increasingly concerned about their health and wellness, which has led to a growing demand for low-fat and fat-free dairy products, including non-fat dry milk. NFDM is used in various low-fat and reduced-calorie food products, making it popular among health-conscious consumers.
- Convenience and Shelf Stability: Non-fat dry milk offers convenience and extended shelf life. It is used in a variety of packaged foods, including instant soups, baking mixes, and ready-to-drink beverages, which appeals to consumers looking for convenient, longer-lasting products.
- Food and Beverage Industry: NFDM is a versatile ingredient in the food and beverage industry. It is used in the production of items such as yogurt, ice cream, coffee creamers, and bakery goods. As the processed food industry expands, the demand for NFDM remains strong.
- Food Aid Programs: Non-fat dry milk is a staple in food aid programs and humanitarian efforts. Government initiatives and international organizations often use NFDM as a key component in food assistance programs to address malnutrition and food security issues.
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