Global Skimmed Milk Powder Market Size By Type (Goat Milk Powder, Cow Milk Powder), By Application (Prepared Dry Mixes, Confectionery), By Region, And Segment Forecasts, 2023 to 2032

The Global Skimmed Milk Powder Market was valued at USD 7.5 billion in 2023 and is projected to surpass USD 12.3 billion by 2031, registering a CAGR of 6.4% during the forecast period from 2023 to 2031. The rising demand for low-fat dairy products, increasing health consciousness among consumers, and growing applications of skimmed milk powder in food processing are driving the market. Skimmed milk powder is widely used in dairy and non-dairy food products due to its longer shelf life, low fat content, and nutritional benefits.

Drivers:

Rising Health Awareness: Consumers are increasingly opting for low-fat and low-calorie dairy alternatives to maintain a healthier lifestyle. This shift is boosting the demand for skimmed milk powder, especially among the health-conscious population.

Growing Demand in Food Processing: Skimmed milk powder is a key ingredient in the food and beverage industry, especially in bakery products, confectioneries, and processed foods, where it is used to enhance texture and nutritional value.

Expanding Dairy Industry: With increasing consumption of dairy-based products, the demand for skimmed milk powder as an affordable alternative to fresh milk in regions with limited refrigeration infrastructure is rising.

Restraints:

Fluctuating Raw Material Prices: Volatile milk prices due to changing climatic conditions, feed costs, and other market factors can affect the profitability of skimmed milk powder producers.

Availability of Alternatives: The market faces competition from plant-based milk alternatives like soy, almond, and oat milk, which are gaining popularity due to vegan and lactose-free preferences.

Opportunity:

Emerging Markets: The expanding middle-class population in emerging economies, particularly in Asia-Pacific, is driving the demand for packaged and processed dairy products, including skimmed milk powder.

Technological Advancements in Production: Innovations in spray drying techniques and packaging solutions are creating opportunities for manufacturers to enhance product quality and shelf life, thus expanding their market reach.

Market by System Type Insights:

The Regular Skimmed Milk Powder segment dominated the market in 2023, accounting for the largest share due to its widespread use in food manufacturing and consumer products. However, the Instant Skimmed Milk Powder segment is expected to witness the highest growth rate during the forecast period, driven by its easy reconstitution and increasing demand for convenience products.

Market by End-use Insights:

In terms of end-use, the Food & Beverage Industry emerged as the largest revenue contributor in 2023, accounting for over 60% of the market share. The use of skimmed milk powder in bakery, confectionery, and processed foods continues to drive this segment. The Nutritional Supplements segment is also expected to grow significantly due to increasing awareness of fitness and wellness products.

Market by Regional Insights:

Geographically, Asia-Pacific dominated the global skimmed milk powder market in 2023, holding the largest share due to the growing dairy industry, increasing consumer awareness, and rising disposable incomes. North America is expected to register significant growth during the forecast period, supported by the increasing demand for low-fat dairy alternatives and the expanding health and wellness trend.

Competitive Scenario:

Key players in the global skimmed milk powder market include Nestlé S.A., Fonterra Co-operative Group, Danone, Arla Foods, FrieslandCampina, Saputo Inc., Dairy Farmers of America, and Lactalis Group. These companies are focusing on expanding their production capacities, improving product quality, and launching new products to strengthen their market position.

Recent developments include:

In 2023, Nestlé expanded its dairy processing facility in China, increasing the production of skimmed milk powder for the growing market demand in Asia-Pacific.

Fonterra introduced a new range of fortified skimmed milk powder in 2024, targeting the nutritional supplement segment.

Scope of Work – Global Skimmed Milk Powder Market

Key Market Developments:

2023: Nestlé expanded its dairy production facility in China to meet growing demand.

2024: Fonterra launched a fortified skimmed milk powder range targeting fitness consumers.

FAQs:

What is the current market size of the Global Skimmed Milk Powder Market?

The market size is valued at USD 7.5 billion in 2023.

What is the major growth driver of the Global Skimmed Milk Powder Market?

The major growth driver is the rising health awareness and demand for low-fat dairy alternatives.

Which is the largest region during the forecast period in the Global Skimmed Milk Powder Market?

Asia-Pacific is the largest region in terms of market share.

Which segment accounted for the largest market share in the Global Skimmed Milk Powder Market?

The Food & Beverage segment accounted for the largest market share in 2023.

Who are the key market players in the Global Skimmed Milk Powder Market?

Key players include Nestlé, Fonterra, Danone, Arla Foods, and FrieslandCampina.