Some of the leading players operating in the market include Nestlé SA, Prolactal GmbH, B. Engelhardt & Co AB, Holle babyfood GmbH, Bellamy’s Organic, Ingredia SA, Organic Valley, Aurora Foods Dairy Corp., HiPP GmbH & Co. Vertrieb KG, and Fonterra Co-operative Group, notes Future Market Insights (FMI). A number of players are focused on making constant product launches in order to consolidate their shares in various regions.
According to Future Market Insights (FMI), the global organic milk powder estimated valuation at the end of 2017 is about US$ 1,816 Mn. Expanding at a CAGR of 5.4% from 2017 to 2027, the market is expected to reach about US$3,060 Mn from 2017 to 2027 by the end of the forecast period.
The various types of organic milk powder comprise skimmed milk, whole milk, and buttermilk and whey. Among these, the whole milk segment is predicted to hold the dominant share of 53.6% by 2017 and is projected to rise at an impressive CAGR of 5.8% during the forecast period. The dominance of the segment is attributed mainly to the extensive demand for these for a variety of applications, including chocolates.
The various regions for the market for organic milk powder are North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA). Of these, North America is expected to the most attractive market, fueled by the prominent presence of certified organic dairy farmers.
Vast Nutritional Benefits to Fortify Demand
The demand for organic milk powder among health-conscious populations in various parts of the world is attributed primarily to the recognition of a number of benefits they have, such as high-shelf life, assured quality, and nutritional benefits, notably the presence of mega 3 fatty acids. The rising preference of organic milk powder over ordinary milk among people of various age is driven by these health benefits. The growing demand for non-GMO and gluten free ingredients in packaged milk products is a key factor bolstering the demand for organic milk powders.
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The growing demand for wholesome foods among families in various countries to act as a nutritional supplement to health drinks is a crucial factor expected to boost the market. The growing number of certified organic dairy farmers in developing and developed countries is a crucial trend expected to accentuate the market in the coming years. The marked consolidation of organic dairy industry, notably in North America, is a prominent trend expected to bode well for the overall organic milk powder market. This has led to a rise in imports volume, especially in the U.S.
Rising Number of Certified Organic Dairy Farmers Unlock Exciting Opportunities
The rising popularity of organic products in various developing and developed regions is expected to stoke the demand for organic milk powder market. However, the notable disparity in the supply and demand of organic milk powder in major regions, is a key factor likely to hinder the growth of the organic milk powder market to an extent. The insufficient supply of organic milk powder can be attributed to the paucity of modern dairy firms, stringent regulatory norms in developed nations to set up organic diary firms, marked transition period for conventional firms to turn into organic firms.
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Nevertheless, the rising number of certified organic dairy farmers and recent advancements made in organic farming are key factors anticipated to accentuate the market over the forecast period. The introduction of products with advanced formulations also bodes well for the global organic milk powder market.