Dairy Alternative Market is Booming Worldwide

The dairy alternative market is estimated to be worth US$ 23,082 million in 2024. The market is expected to rise at a CAGR of 7.3% and...
HomeBusiness NewsNon-Fat Dry Milk Market to Witness Massive Growth by 2033

Non-Fat Dry Milk Market to Witness Massive Growth by 2033

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The non-fat dry milk market is anticipated to expand steadily between 2023 and 2033, with a predicted CAGR of 3.1%. The estimated market worth is expected to rise from US$ 8.4 billion in 2023 to US$ 11.3 billion by 2033.

This development can be attributed to several crucial factors shaping market dynamics. Non-fat dry milk finds extensive application in the expanding market for functional foods and beverages due to its adaptability and ability to enhance nutritional value. The increasing popularity of plant-based diets has also driven the growth of non-dairy alternatives like non-fat dry milk, providing consumers seeking lactose-free or vegan products with a viable choice.

With increasing health and nutrition awareness, consumers are actively seeking low-fat or non-fat food options. Non-fat dry milk provides a viable solution for those who want to reduce their fat intake while still enjoying the benefits of dairy products. This health-conscious trend contributes to the higher adoption of non-fat dry milk, benefiting the market.

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The longer shelf life of non-fat dry milk makes it an attractive choice for food manufacturers looking to improve their product’s stability and reduce waste. This advantage allows manufacturers to stock up on non-fat dry milk and plan production schedules more efficiently, leading to cost savings and enhanced supply chain management.

Key Takeaways

  • United States Leads the Pack: With a commanding 30.4% market share, the United States dominated the non-fat dry milk industry in 2022. This product’s popularity stems from its adaptability, extended shelf life, and the increasing customer preference for healthier dairy alternatives. As a result, there is a high demand for this product across the nation, reinforcing its strong market position.
  • Germany Displays Strong Development: With an 8.6% market share in non-fat dry milk in 2022, Germany is on a solid development trajectory. The nation’s commitment to producing environmentally friendly and high-quality dairy products has contributed to the steady growth of this market. Additionally, the increasing trend of using non-fat dairy alternatives in various food applications further fuels the demand for these products in the country.
  • Japan Investigates Non-fat Options: Japan’s 4.1% market share in 2022 indicated a surging interest in non-fat dry milk. The demand for low-fat products is on the rise in Japan as consumers increasingly prioritize healthy options and actively seek dairy substitutes. This trend is consistent with the nation’s changing food culture and the pursuit of healthy eating practices.
  • Health Awareness Fuels Demand in Australia: Australia’s 2.3% market share in 2022 showcases the nation’s strong inclination towards health trends, reflected in the growing demand for healthier dairy products like non-fat dry milk. With health-conscious customers on the rise and an increasing preference for low-fat and non-fat goods, the country’s demand for non-fat dry milk is steadily increasing.
  • Potentials are Visible in China and India: With a CAGR of 2.5% and 3.8%, respectively, China and India show great potential for non-fat dry milk. These developing markets are observing a change towards better dietary options, such as low-fat dairy substitutes. In the coming years, both China and India hold significant promise for non-fat dry milk producers, driven by their large populations and increasing disposable incomes.

Competitive Landscape

The non-fat dry milk industry is moderately competitive, driven by several significant factors. One key aspect is the continuous market expansion, which attracts new players and intensifies competition among existing ones. As the demand for functional foods and beverages grows, the significance of non-fat dry milk as a crucial component further amplifies the competitive environment.

Cargill

A global leader in agricultural goods and food ingredients is Cargill. They provide various non-fat dry milk products in high, medium, and low heat options. Due to their large product selection, global presence, and dedication to quality, Cargill is a formidable rival.

FrieslandCampina

Dutch dairy cooperative FrieslandCampina is based in the Netherlands. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to its great brand recognition, a wide range of products, and dedication to sustainability, FrieslandCampina is a formidable rival.

Lactalis

The dairy manufacturer Lactalis is based in France. They are among the biggest dairy producers in the world and provide a variety of non-fat dry milk. Due to their large product selection, global presence, and dedication to quality, Lactalis is a formidable rival.