The Global Nonfat Milk Powder Market is forecast to reach USD 12.88 Billion by 2027, according to a new report by Reports and Data. Nonfat milk powder or nonfat dry milk (NDM) is quite similar to skimmed milk powder (SMP) that contains a lower calorie and extremely lower fat (approximately 1.5% or less by weight). The continuous expansion of the healthy confectioneries and bakery items many dairy-based products and high demand for low-fat or low-caloric powder milks are expected to drive the growth of the nonfat milk market.
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An extensive analysis of the global market is included in the report which covers different factors from region-centric key statistical data to macro- and micro-economic factors that are crucial for forecast assessment. The study also offers a comprehensive analysis of the growth prospects, patents, technological advancements, and product launches in the market.
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Key Players:
Key participants include Nestle S.A., Bob's Red Mill, Hochdorf Holding AG, Amul, Mayfield Dairy Farms, Inc., Unilever, DairyAmerica, Inc., All American Foods, Inc., The St. Albans Cooperative Creamery, Inc., Dairy Farmers of America Inc., among others.
Further key findings from the report suggest:
- Dairy beverages application sub-segment is expected to be the fastest-growing segment during the forecast period 2019-2026 with a CAGR of 6.9% due to an increase in the consumption of dairy-based products and Nonfat Milk Powder mixed beverages, especially in emerging nations. This sub-segment also had the highest market share in 2018.
- Growing penetration of the online retailing businesses for food items, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. One of the significant investments made in the food and beverage sector in the Indian subcontinent is made by Amul lately. Amul plans on investing USD 753 million in order to set up ten new milk processing plants and to scale up the production by 32 million liters per day by 2020.
- Europe is growing at a CAGR of 6.7% in the forecast period and is expected to retain a significant position in the market by 2027. Switzerland has some of the valuable players in this region.
- North America is forecasted to witness significant growth in the overall market, growing with a CAGR of 7.5% during the forecast period.
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Market Segmentation:
Applications Outlook (Revenue: USD Billion; 2016-2027)
- Ordinary
- Confectionery Bakery
- Nutritional Foods
- Prepared Foods
- Dairy Products
- Others
Form Factor Outlook (Revenue: USD Billion; 2016-2027)
- Ordinary
- Agglomerated
Processing Treatment Outlook (Revenue: USD Billion; 2016-2027)
- Low-heat
- Medium-heat
- High-heat
Distribution Channel Outlook (Revenue: USD Billion; 2016-2027)
- Online
- Hypermarket
- Wholesalers
- Retail Stores
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Regional Outlook (Revenue: USD Billion; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Nonfat Milk Powder market.
- To provide insights about factors affecting the market growth. To analyze the Nonfat Milk Powder market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
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