Skimmed Milk Market Share, Research Report, Mergers And Acquisitions 2023-2031
Skimmed Milk Market Overview:
The skimmed milk market (Si apre in una nuova finestra) was valued at USD 15,913.14 Million in 2022. and is estimated to reach over USD 27,686.12 Million by 2031.and grow at a CAGR of 6.5% during the forecast period.
Skimmed Milk Market Drivers:
Health and Wellness: Consumers are increasingly seeking low-fat and fat-free products for weight management and heart health. Skimmed milk offers a good source of protein, calcium, and other essential nutrients without the saturated fat found in whole milk.
Rising Disposable Incomes: As disposable incomes rise, consumers are willing to spend more on premium and fortified milk products, including skimmed milk.
Urbanization: Urban populations often have busy lifestyles and opt for convenient and ready-to-drink milk options, favoring skimmed milk due to its longer shelf life.
Growing Awareness of Lactose Intolerance: Skimmed milk is often lower in lactose than whole milk, making it a suitable option for individuals with lactose intolerance.
Market Key Players:
Alpen Food Group B.V., Fonterra Co-operative Group Limited, Lactalis Ingredients, California Dairies, Inc., Nestle, Schreiber Foods Inc., Amul, Saputo Inc., Arla Foods Inc., and Miraka.
Market Segmentation:
The Veterinary Diagnostic Imaging Market segmentation based on various factors, including:
By Type: Powder and Liquid
By Application: Bakery, Confectionery, Dairy, Prepared Mix, and Others
By Distribution Channel: Offline (Hypermarkets and Supermarkets, Dairy, and Others), Online (E-commerce Platform and Company Website)
Regional Analysis:
Europe: The Reigning King
Europe currently holds the crown, accounting for a whopping 38.54% of the global skimmed milk market share. This dominance stems from several factors:
Deep-rooted dairy culture: Europe boasts a long history of dairy consumption, with ingrained preferences for diverse dairy products, including skimmed milk.
Strong emphasis on health: Europeans are increasingly health-conscious, seeking low-fat alternatives like skimmed milk for weight management and heart health.
Flourishing bakery and confectionery industries: These industries rely heavily on skimmed milk for its functional properties and neutral taste, further bolstering demand.
However, Europe faces challenges like lactose intolerance and competition from plant-based alternatives.
Asia Pacific: The Rising Star
Asia Pacific is the fastest-growing skimmed milk market, expected to witness a CAGR of 10.2% during the forecast period. This skimmed milk market growth (Si apre in una nuova finestra) is fueled by:
Rapid urbanization and rising disposable incomes: This translates to increased spending on processed foods, including dairy products like skimmed milk.
Growing health awareness: Similar to Europe, health concerns are driving demand for low-fat alternatives in Asia Pacific.
Lactose-tolerant population: A large portion of the population in this region is lactose-tolerant, creating a wider consumer base for skimmed milk.
However, infrastructure challenges and price sensitivity in some regions pose hurdles for market expansion.
North America: A Maturing Market
North America holds a significant market share but is experiencing slower growth compared to other regions. This can be attributed to:
Market saturation: The skimmed milk market in North America is already relatively mature, with high penetration rates.
Shifting consumer preferences: Consumers are increasingly seeking plant-based alternatives and other low-fat dairy options like Greek yogurt.
Price sensitivity: Price fluctuations in the raw milk market can impact the affordability of skimmed milk for consumers.
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