The global skim milk powder market is expected to reach a significant valuation, showcasing a stellar CAGR over the forecast period of 2016–2022, as per a research report by Market Research Future (MRFR). Skim milk powder is low in moisture and fat content and has a long shelf life when stored in proper conditions. Skim milk powder is loaded with nutrients and is a complete source of protein. It is on account of these benefits that the skim milk powder market is expanding. The rise in disposable income of consumers has resulted in an uptick in demand for skim milk powder which boosts the growth of the market. Skim milk powder finds broad application in the food industry, particularly in bakery and confectionery food items which is a major driver of the market. Skim milk powder is largely used in the food industry because of its nutritional value; it provides all the vitamins, amino acids, chemical salts, etc. and is suitable for instantizing process and suits the food industry’s requirements.
Growth in the import of skim milk powder into developing and undernourished areas of the third world countries is responsible for the continued growth of the skim milk powder market. Skim milk powder experiences high demand among companies who manufacture infant formula which drives the market for skim milk powder. Owing to its nutritional value, skim milk powder is used in infant formulas and are used by mothers suffering from any disease and for babies who are intolerant to breastfeeding. Consumers increasingly prefer skim milk as it is more nutrient dense and is free from fat and is also a crucial factor of market growth.
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Certain factors might hinder the skim milk powder market. A sharp decline in production has hit milk farmers across the globe, and a situation of milk crisis has arisen which could affect the skim milk powder market negatively. Skim milk powder is hard to digest for babies as they are artificially manufactured and can be harmful to health which might restrain the market growth as well.
Major Key Players Analysis:
Notable players of the market include Alpen Dairies (Netherland), Nestle (Switzerland), Miraka (New Zealand), Lactoland (Germany), Nova Dairy products (India), Fonterra (New Zealand), Amul (India), and Synlait milk ltd (New Zealand).
In June 2018, Indian state government of Gujarat announced a bail out of package worth Rs 300 crore towards the export of 60000metric tonne powder. This situation has arisen due to the severe drop in price of skim milk powder in the international market.
The global skim milk powder market has been segmented based on powder type, process, form, specialty diet, packaging, and application. By powder type, the market has been segmented into Reconstituted Skim Milk Powder, Recombined Skim Milk Powder and others. By process, the market has been segmented into Spray drying, Freeze drying, Evaporation, and others. By form, the market has been segmented into agglomerated (i.e., instant) and non-agglomerated (i.e., non-instant). By specialty diet, the market has been segmented into Fat-Free, Low Fat, Free of Trans Fat, Low Sodium, Protein Rich and others. By packaging, the market has been segmented into Metal Cans, Multilayer Pouches, Paper Bags and others. By application, the market has been segmented into Dairy Products, confectionery, Sports and Nutrition Foods, Infant Formulas, Bakery Products, Dry Mixes and others. Dairy products account for more than 40% of the market share in the application segment.
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The key markets of the global skim milk powder include North America, Europe, Asia Pacific, and the Rest of the world (RoW). North America accounts for the major share of the global market followed by Europe. New Zealand and the Netherlands are the major exporters of skim milk powder. New Zealand exports to countries like China, Algeria, U.A.E., Sri Lanka and Malaysia while, Netherlands exports to the Middle East & African countries. China, Venezuela, Algeria, U.A.E., and Oman are the top five importers of skim milk powder. Asia Pacific is slated to emerge as a potential market for skim milk powder due to changing consumer food pattern and induced demand in the region due to rising disposable income of consumers.
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