Nonfat Dry Milk Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2030

Nonfat Dry Milk Industry Prospective:

The global nonfat dry milk market size was evaluated at $7.5 billion in 2022 and is slated to hit $11.5 billion by the end of 2030 with a CAGR of nearly 5.49% between 2023 and 2030.

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Nonfat Dry Milk Market: Overview

Nonfat dry milk is manufactured by evaporating liquid milk after removing the fats. Nonfat dry milk as well as powdered milk form is a similar product and the terminology is many times swapped. There are myriad benefits provided by nonfat dry milk that are projected to contribute remarkably towards the overall market expansion. In addition to this, nonfat dry milk has an elongated shelf life in comparison to liquid milk. Additionally, the product imparts thickness to the food item with which it is mixed with. Nonfat dry milk has wide applications in cake preparation, making of soups, production of meats, pudding preparation, and other food items.

Key Insights

• As per the analysis shared by our research analyst, the global nonfat dry milk market is projected to expand annually at the annual growth rate of around 5.49% over the forecast timespan (2023-2030)
• In terms of revenue, the global nonfat dry milk market size was evaluated at nearly $7.5 billion in 2022 and is expected to reach $11.5 billion by 2030.
• The global nonfat dry milk market is anticipated to grow rapidly over the forecast timeline owing to growing consumer inclination towards soy milk powder and coconut powder consumption.
• In terms of product type the low-heat segment is slated to register the highest CAGR over the forecast period.
• Based on application, the bakery & confectionary segment is projected to lead the segmental space in the upcoming years.
• Region-wise, the Asia-Pacific nonfat dry milk industry is projected to register the fastest CAGR over the forecast timeline.

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Nonfat Dry Milk Market: Growth Factors

Escalating customer preference for soy milk powder & coconut powder to drive the global market trends

Nonfat dry milk is the best source of functional dairy products and can be substituted for whey proteins. This, in turn, will boost the growth of the global nonfat dry milk market over the upcoming years. In addition to this, a surge in the shelf life of nonfat dry milk as compared to liquid milk will embellish the global market trends. Apart from this, growing consumer inclination towards soy milk powder and coconut powder consumption is likely to steer the growth of the market globally.

Furthermore, the launching of new milk flavors such as banana flavor, pineapple flavor, orange flavor, and mango flavor of nonfat dry milk products will amplify the scope of the market over the forecast timeframe. Effective handling, easy transportation of the product, user convenience, proficient storage of the product, and use of the product in preparing various food items will spur the global market expansion in the years to come. New product launches will contribute majorly towards the global market size in the upcoming years. For instance, in April 2023, Valio Limited, a Finland-based firm manufacturing dairy items, introduced new infant-grade skimmed milk powder. Such strategic moves will push the growth of the market across the globe. In January 2024, GCMMF introduced Sagar skilled milk in India. In May 2021, Lactalis Ingredients launched organic whole milk powder due to rise in the customer preference for health & food quality.

Nonfat Dry Milk Market: Restraints

Lactose intolerance individuals can restrain product demand, thereby restricting the global industry surge

The bitter taste and unsuitability of the product for lactose intolerant individuals can put brakes on the global nonfat dry milk industry expansion.

Nonfat Dry Milk Market: Opportunities

Huge consumption of products in developing countries can open new horizons of growth for the global market

Massive demand for the product in emerging economies will create new vistas of growth for the global nonfat dry milk market. The ability of the product to be fortified, a versatile feature of the product, and swift urbanization are anticipated to open new growth avenues for the global market. High nutritive value and low costs of production can further pave the way for the expansion of the global market.

Nonfat Dry Milk Market: Challenges

Stringent legislation related to export of products can prove to be a huge challenge for the global industry surge

Strict laws pertaining to product exports along with high product prices can prove to be a huge obstruction in the growth path of the global nonfat dry milk industry.  

Nonfat Dry Milk Market: Segmentation

The global nonfat dry milk market is sectored into product type, application, and region.                                    

In terms of product type, the nonfat dry milk market across the globe is segregated into high-heat, low-heat, and medium-heat segments. Furthermore, the low-heat segment, which acquired nearly 57% of the global market earnings in 2022, is projected to record the highest growth rate over the forecast timeline. Moreover, the segmental growth over the next eight years can be a result of the extensive use of low-heat products in the manufacture of cheese and bakery products.

Based on the application, the global nonfat dry milk industry is divided into bakery & confectionary, nutritional supplements, and dairy blends segments. Moreover, the bakery & confectionery segment, which led the application space in 2022, is set to dominate the segmental surge over the projected timeline. The growth of the segment over the assessment period can be subject to a rise in the use of nonfat dry milk for preparing bakery & confectionery products.

Nonfat Dry Milk Market: Report Scope

Nonfat Dry Milk Market: Regional Insights

North America is projected to dominate the global nonfat dry milk market in the forecast years

North America, which accounted for nearly 47% of the global nonfat dry milk market share in 2022, will be the leading region in the coming eight years. Moreover, the regional market elevation over the forecast timespan can be credited to a surge in product launches along with demand for inorganic as well as organic products in the region. The presence of key players in the region will steer the growth of the market in North America. Rising awareness about product benefits among the people will embellish the scope of growth of the global market.

Asia-Pacific nonfat dry milk industry is expected to record the highest gains in the forecast timespan. The growth of the industry in the region over the period from 2023 to 2030 can be subject to a rise in milk production in countries such as Thailand, India, South Korea, and China and a rise in product use in the preparation of bakery products. In addition to this, the thriving healthcare sector will further contribute to the regional industry size.

Nonfat Dry Milk Market: Competitive Space

The global nonfat dry milk market profiles key players such as:

• HOCHDORF Holding Ltd.
• Arla Foods
• All American Foods Inc.
• American Dairy Products Institute
• The St. Albans Cooperative Creamery Inc.
• NOW Foods
• Bob’s Red Mill natural foods
• Amul
• Nestle S.A.
• Dairy America Inc.

The global nonfat dry milk market is segmented as follows:

By Product Type

• High-Heat
• Low-Heat
• Medium-Heat

By End-User

• Bakery & Confectionary
• Nutritional Supplements
• Dairy Blends

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa