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.
NEW YORK CITY, NEW YORK, USA, September 24, 2021 /EINPresswire.com/ — 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.
This market intelligence report includes a comprehensive evaluation of the market, discussing the value, volume, size, share, growth rate, key trends, demand & supply ratio, gross revenue, competitive landscape, regional analysis, manufacturers, product types, and end-user applications to give a 360 overview of the global Nonfat Milk Powder industry. The study provides key information pertaining to the different elements that are propelling or restraining the growth of the sector. It draws accurate forecasts to estimate the prospective growth of the overall business.
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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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Applications Outlook (Revenue: USD Billion; 2016-2027)
• Confectionery & Bakery
• Nutritional Foods
• Prepared Foods
• Dairy Products
Form Factor Outlook (Revenue: USD Billion; 2016-2027)
Processing Treatment Outlook (Revenue: USD Billion; 2016-2027)
Distribution Channel Outlook (Revenue: USD Billion; 2016-2027)
• Retail Stores
Regional Outlook (Revenue: USD Billion; 2016-2027)
• North America
• Asia Pacific
• Latin America
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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.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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