The Latin America Milk Powder Market was worth USD xx million in 2021 and estimated to be growing at a CAGR of xx%, to reach USD xx million by 2026.
Milk powder is a dairy product which is obtained by evaporating milk until the milk becomes dry in the form of a powder. The main purpose of manufacturing milk powder is for preservation due to its low moisture content. It also saves transportation costs since the water is removed by heating.
Milk Powder is used in a wide array of applications. It is used in the preparation of infant’s formula and confectionaries like caramel candy and chocolate. It is also used in the preparation of famous Indian desserts Gulab Jamun and Chum-Chum. In food aid supplies for war struck countries, it is a common item since fresh milk is not a feasible option. It is heavily used in developing countries owing to low storage and transportation costs. Since milk powder resembles cocaine and other similar recreational drugs, it finds applications in film making as a prop.
The Latin America Milk Powder market is driven by factors like diet preferences shifting towards dairy-rich tastes, high shelf life owing to less moisture content, reduced transportation and storage costs, rising disposable incomes and increasing adoption of powdered milk as alternative to fresh milk among others. However, the market is constrained by factors like concerns for ultra-high temperature milk, reduced nutritional content and stringent regulations.
The Latin America Milk Powder market is divided on the basis of type into dry buttermilk, dry whey products, dry whole milk, dry dairy blends and non-fat dry milk. On the basis of application, the market is segmented into infant formulas, nutritional formulas, confectionaries and baked sweets and savouries. By function, the market is divided into foaming, emulsification, flavouring and thickening.
Geographically the Latin America Milk Powder Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Factors such as rising disposable incomes and growing adoption of milk powder as an alternative to fresh milk is expected to drive the market growth in the region.
Key Players in the Market:
Major Key Players in the Latin America Milk Powder Market are