Published on : Dec 20, 2017
Albany, New York, December 20, 2017: The global demand for nonfat dry milk is increasing rapidly, due to its several features. There are several benefits of nonfat dry milk which has contributed to the growth of the global nonfat dry milk market. Nonfat dry milk has a longer shelf life as compared to liquid milk. Market Research Hub (MRH) has freshly announced the inclusion of a study titled “Non Fat Dry Milk Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)” to its massive repository, which aims to provide major insights on the market’s growth throughout the above mentioned forecast period in terms of volume and revenue (in US$ Mn). Moreover, the research also includes detailed segmentation comprising the application areas and the product types across various geographies such as North America, Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
Nonfat dry milk is a wholesome dairy product made from fresh milk. Only the cream and water are removed. It provides thickness to the food product it is added. Presently, nonfat dry milk can be used to prepare cakes, soups, meat products, puddings and other confectionaries. The study finds that the demand is increasing across the world, due to increasing health consciousness among consumers. Analysts anticipate that global nonfat dry milk market is anticipated to reach a value of about US$ 7.9 Bn by the end of 2022 and is poised to grow at a steady CAGR during the forecast period of 2017-2022.
The market overview section of the report showcases the market dynamics and trends such as the drivers, restraints and opportunities that influence the current nature and future status of this market. In terms of geography, the global nonfat dry milk market finds Asia-Pacific excluding Japan (APEJ) region to be more lucrative in terms of growth. The Asia-Pacific excluding Japan (APEJ) region shows high market attractiveness for this market.
The research has further deeply analyzed the application areas and product types. Major product types include low-heat, medium-heat and high-heat. Out of these, the high-heat segment is anticipated to dominate the global nonfat dry milk market with respect to market share. By application, home reconstitutions segment replicate a higher market share of 21.6% as of 2017. This trend is expected to continue over the period of 2017-2022 with a steady growth rate.
Later, the research has profiled companies which are expected to remain active in the expansion of global nonfat dry milk market throughout 2022, such as Blue Diamond Growers, Inc., OATLY A.B, Danone, Earth’s Own Food Company Inc., Eden Foods Inc., Organic Valley Cropp Cooperative, SunOpta, Inc., and The Hain Celestial Group, Inc. These key market players have been outlined in terms of attributes such as company overview, financial overview, business strategies and recent developments.
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