Milk powder market seen reaching $50.7B by 2031

The global milk powder market is projected to grow from $29.6 billion in 2021 to $50.7 billion by 2031, driven by rising dairy production, health-conscious demand and foodservice use. Asia-Pacific led the market in 2021, while North America is forecast to post the fastest growth through 2031. Why it matters: - Milk powder is gaining demand as consumers look for longer shelf life, convenience and products with added nutrition. - The market’s projected rise to $50.7 billion by 2031 signals steady global demand across retail, foodservice and packaged foods. - Growth in organic and high-protein products is pushing manufacturers to add minerals and vitamins to milk powder. What happened: - The global milk powder market generated $29.6 billion in 2021 and is projected to reach $50.7 billion by 2031. - The forecast implies a compound annual growth rate of 4.8% from 2022 to 2031. - The market report covers type, application and region. - A sample report is available here . The details: - Milk powder is made by removing most moisture from milk and drying the remaining liquid into particles. - The product can be reconstituted with water or used in culinary preparations. - Key product types include whole milk powder, skim milk powder, buttermilk powder, dairy whitener, fat filled milk powder and others. - Main applications include nutritional food, infant formula, confectionery, baked sweets, savories and others. - The dairy industry’s expansion and wider adoption of organic food are supporting demand. - The market also benefits from rising milk production and processing capacity worldwide. - The report cites about 150 million families worldwide producing milk, with cows accounting for more than 80% of total production. - In 2022, global milk production reached around 930 million tons. - Milk powder use is supported by a longer shelf life, easier storage and lower transportation costs. - Fortified milk powders are gaining traction as manufacturers add minerals and vitamins. - Emulsifiers used in milk powder help with texture, reduce separation and extend shelf life. - The report notes that artificial emulsifiers face safety scrutiny from regulators and researchers. - A limited-time purchase offer is available here . - An inquiry form for buyers is available here . Between the lines: - The market faces a key restraint from the growing availability of milk powder alternatives. - Health concerns around emulsifiers can also weigh on the category’s image as a healthy option. - The pandemic period accelerated at-home cooking and baking, which lifted retail packaging demand. - Premium-grade products are gaining favor in developed markets as discretionary income rises. - Foodservice demand is strengthening as cafés, restaurants and catering operators use milk powder in more dishes. - The shift toward eating out and ready meals could keep supporting volume growth. What’s next: - Asia-Pacific is expected to remain the largest regional market through the forecast period. - North America is projected to grow the fastest, with a 6.5% CAGR from 2022 to 2031. - Demand in North America is being supported by healthier eating trends and rising concern over obesity and chronic disease. - Leading market players include Arla Foods amba, Fonterra Co-operative Group Limited, Nestle S.A., Saputo Inc., Schreiber Foods Inc., The Kraft Heinz Company, Groupe Lactalis, Dairy Farmers of America, Danone S.A. and Royal Friesland Campina N.V. - Related reports cover the cream powder market, coconut shell powder market and demineralized whey powder ingredient market. The bottom line: - Milk powder remains a broad, globally expanding category, with fortified and premium products helping offset competition from substitutes and health concerns.