Global Skimmed Milk Market growing at a CAGR of 6.5% from 2023 to 2031
Category : Food And Beverages | Published Date : Sep 2023
Key Market Overview
Consegic Business Intelligence analyzes that the skimmed milk market is predicted to grow at a compound annual growth rate of 6.5% from 2023 to 2031 and is expected to reach USD 27,686.12 million in 2031 and 16,772.11 million in 2023 which was valued at USD 15,913.14 million in 2022.
The report highlights an increase in awareness about health benefits related to skimmed milk drives the market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the skimmed milk market.
Global Skimmed Milk Market By Overview
The skimmed milk market is segmented into type, application, and distribution channels. Based on type, the market is segmented into powder and liquid. In 2022, the liquid segment dominate in the overall skimmed milk market. Based on application segment is categorized into bakery, confectionery, dairy, prepared mix, and others. In 2022, the confectionery segment accounted for the highest market share in the skimmed milk market. The distribution channel segment is categorized into offline and online. In 2022, the offline segment accounted for the highest market share in the skimmed milk market.
Get Free SampleMarket Dynamics
Driver:
- An increase in awareness about health benefits related to skimmed milk drives the market growth.
- Skimmed milk is widely used in various application in the food industry that drives demand and market growth.
Restraints:
- The increasing population of lactose intolerants along with the substantial growth of plant-based milk has restrained the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Powder and Liquid |
| By Application | Bakery, Confectionery, Dairy, Prepared Mix, and Others |
| By Distribution Channel | Offline (Hypermarkets and Supermarkets, Dairy, Other) and Online (E-commerce Platforms and Company Websites) |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Alpen Food Group B.V., Fonterra Co-operative Group Limited, Lactalis Ingredients, California Dairies, Inc., and Schreiber Foods Inc. which have a strong market position in the current market circumstances. These companies are continuously leveraging new product launches and expansion of business. Furthermore, the skimmed milk market is expected to witness substantial growth in the coming years due to the growing demand for skimmed milk in the food industry.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Alpen Food Group B.V.
- Fonterra Co-operative Group Limited
- California Dairies, Inc.
- Lactalis Ingredients
- Nestle
- Schreiber Foods Inc.
- Amul
- Saputo Inc.
- Arla Foods Inc.
- Miraka