Overview:
Skim milk powder is a product where manufacturers remove the milkfat from the whole milk. The end product contains around 0.1% fat. Originally, this was used to fatten up pigs. The feed becomes healthier as it contains only protein. The skim milk is globally gaining much traction due to the chance of restricting calorie intake. This would benefit people who are looking to control their food habit and curb some weight. The global skim milk powder market is slated to gain considerably with substantial CAGR during the forecast period of 2023 to 2030. Market Research Future (MRFR) makes a statement in the report about the market crossing the expected valuation by some margin. This statement is getting backed by various data collected by experts.
Several factors like improved packaging, longer shelf-life, growing health awareness, high disposable incomes, changing lifestyle, and others are expected to transform the global skim milk powder market. Various marketing strategies employed by companies can also inspire market growth.
The market size for skim milk powder was estimated at USD 115.2 billion in 2022. It is anticipated that the market for skim milk powder will increase from USD 127.6 billion in 2023 to USD 236.2 billion in 2030, with a compound annual growth rate (CAGR) of 10.80% over the five-year forecast period (2023– 2030).
Segmentation:
Type, packaging, form, and distribution channel are four distinct segments that have been included in the study of the global skim milk powder market report. These segments are loaded with various factors and data that can be used in a proper understanding of the global market.
By type, the Skim Milk Powder Market includes white skim milk powder, black skim milk powder, oolong skim milk powder, green skim milk powder, and others.
By packaging, the market comprises skim milk powder bag, loose skim milk powder, bottled canned skim milk powder, instant skim milk powder, and others.
By form, the market for skim milk market can be segmented into powder, leaf, and others. The powder segment is expecting strong growth.
By distribution channel, the skim milk powder market includes food retail (convenience stores specialty retailers, supermarkets hypermarkets, and others), and foodservice.
Regional Analysis:
North America stands top as it fetches in the highest amount of market revenue, whereas Europe follows the growth from the second position. Both these regions are known for their extensive milk and dairy production. This is getting further tailwinds from a high level of health-related awareness in these regional markets. The market’s high growth depends on the increase in the use of skim milk in food industry. People have high living standards as the per capita income of the region is quite high. Banking on this, the market can increase the demand for low-fat content products, which would spur the growing demand for skim milk powder market.
Europe’s growth is quite substantial due to the high production rate. The APAC market is witnessing high intake of the skim milk powder due to the massive population and hike in disposable income. Two major factors are enough to trigger a high intake. On the other hand, better branding and marketing of such products as healthy by various manufacturers are expected to push the sales higher in the region. Innovative branding technology is providing much market growth.
Competitive Landscape:
key skim powder milk market players are DairyAmerica, Inc. (US), Nestle S.A. (Switzerland), Fonterra (New Zealand), Nova Dairy products (India), Alpen Dairies (The Netherland), Lactoland (Germany), Miraka (New Zealand), and Synlait milk Ltd (New Zealand). These companies, as analyzed by MRFR in the report, shows extraordinary potential in taking the global market further ahead. Their steps often include marketing strategy, branding plan, merger, and others with a strong potential to capitalize on the available opportunities.
In September 2022, Keytone Dairy received a large order from global retail giant Walmart for its subsidiary Sam’s Club China. The product will be skim milk powders for the latter’s 18 superstores in major cities like Beijing, Shanghai, Shenzhen, Guangzhou, and Wuhan of China.
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