The global dry whole milk powder market is fragmented and highly competitive, thanks to the presence of a large number of local as well as international players, states a new research study by Transparency Market Research (TMR). Some of the leading players in this market are Lactalis Group, Belgomilk, Alimra, FrieslandCampina, Dana Dairy, Amul, Fonterra, Nestle, Danone, and Saputo Ingredients. These players have a strong brand value and display a wide range of product portfolio. The rivalry between the leading participants is intense as they are constantly taking up various types of marketing and advertising strategies in order to increase their reach. Hitherto, they relied upon innovation and advancements in their products for business development. However, over the forthcoming years, they are expected to shift their focus towards mergers and acquisitions and strategic partnerships in a bid to maintain their supremacy in the coming years, reports the market study.
According to the estimations of the research report, the worldwide market for dry whole milk powder offered an opportunity worth US$10.20 bn in 2017. Researchers expect it to expand at a CAGR of 4.60% during the period from 2017 to 2022, and attain a value of US$12.76 bn by the end of the period of the forecast. In 2017, instant milk powder surfaced as the most valued products. Expanding at a CAGR of 4.70% during the forecast period, this segment is expected to maintain its lead. Latin America, Asia Pacific excluding Japan (APEJ), Europe, North America, Japan, and the Middle East and Africa have emerged as the main geographical categories of the worldwide market for dry whole milk powder. Among these, APEJ has been leading the global market and is anticipated to remain on the top over the next few years, states the research report.
Download PDF Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30746
Long Lasting Shelf-life to Boost Demand for Dry whole milk powder
“The long-lasting shelf-life of dry whole milk powder when compared to the perishability of fresh dairy products is one of the main factors behind the high demand for dry whole milk powder, across the world,” says the author of the study. The factor that milk powder can be kept away for nearly one year without a noteworthy loss of value, is also propelling this market significantly. Dry whole milk powder has especially emerged lucrative for zones that are responsible to temperature furthest points and for arrays that do not have reliable frosty chains for exchange of perishable dairy items, states the report.
Increasing Preference for Organic Food Products to Hamper Growth
On the other hand, the increasing preference among consumers across the world for organic products may limit the consumption of dry whole milk powder in the years to come, reflecting negatively on the global market for dry whole milk powder, notes the research report.