MILAN – According to a new study from Fact.MR, worldwide consumption of enriched milk powder is anticipated to rise at a CAGR of 5.9% through 2032. At present, the global enriched milk powder market accounts for a revenue of US$ 8.63 billion and is expected to surge to a valuation of US$ 15.38 billion by the end of the forecast period (2022-2032).
A complete regional assessment of the global market has been provided in this latest enriched milk powder market research study by Fact.MR, a market research and competitive intelligence provider.
Poor eating habits have resulted in the increasing prevalence of lifestyle disorders, which has resulted in increased consumption of fortified and enriched foods to fulfil nutrition requirements.
“Europe to Exhibit Highly Rewarding Opportunities for Enriched Milk Powder Manufacturers”
The enriched milk powder market in Europe currently accounts for a net revenue total of US$ 2.01 billion and holds a market share of 23.3% in 2022 in the global industry landscape. Increasing focus on health and fitness, presence of key manufacturers, and rising consumption of nutritional and dietary supplements are key factors that govern the market in this region.
The North America enriched milk powder market holds a significant market share of 26.8% at present and is valued at US$ 2.31 billion. Prevalence of lifestyle disorders, rising focus on health and nutrition, and increasing availability of enriched milk products are major aspects that shape market growth in this region.
Key manufacturers are focusing on expanding their product portfolio to drive their sales and generate revenue.
- In June 2022, Fonterra, a leading dairy company’s flagship brand Anchor, announced the launch of a new line of products in the Middle Eastern marketplace. The new lineup also features a fortified full cream milk powder that is made from grass-fed cows and fortified with minerals and vitamins without any added colors or preservatives.
- In April 2021, Meghna Group of Industries in Bangladesh launched the country’s only dessert specialist – Fresh Dessert Instant Full Cream Milk Powder. The powder is directly sourced from the best farms in New Zealand and is fortified with calcium, iron, vitamin B, D, and A.