Over 1/4th of All Enriched Milk Powder Sales to Remain Concentrated in North America

Fact.MR's latest report provides a detailed enriched milk powder market forecast for a period of 10 years (2022-2032). It examines the sales prospects of enriched milk powder and illustrates how changing end user preferences and advancement in technology are influencing them. The report uses both primary and secondary research methodologies to identify new opportunities emerging across various segments including flavor, application, distribution channel, and region.

NEW YORK , July 18, 2022 /PRNewswire/ -- The global enriched milk powder market size reached a valuation of US$ 8.63 billion in 2022. With rising application of enriched milk powder in products such as yogurt, bakery, confectionery, dietary supplements etc., the overall sales of enriched milk powder are slated to rise at a CAGR of 5.9% between 2022 and 2032, totaling US$ 15.38 billion by the end of 2032.

Enriched milk powder is a type of milk powder or dried milk that contains extra vitamins and minerals that are naturally not found in milk in significant amounts. It is being increasingly used for manufacturing a wide range of processed food products.

Rising adoption of enriched milk powder for manufacturing food products such as bakeries, confectioneries, infant formula, ice creams, and dietary supplements along with the increasing consumption of these food products worldwide is a key factor spurring growth in the global enriched milk powder market.

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Similarly, growing consumer awareness about the health and nutritional benefits of enriched milk powder is expected to create lucrative opportunities for leading enriched milk powder manufacturers during the forecast period. As enriched milk powder contains additional nutrients, it can help consumers in preventing and fighting various lifestyle disorders.

Besides this, enriched milk powder has a longer shelf life than other dairy products, which is expected to further elevate the demand for enriched milk products during the coming years.

Leading players are continuously investing in research and development for introducing novel products with clean ecofriendly packaging to woo more and more customers.

Regionally, with a current market valuation of US$ 2.31 billion , North America will continue to dominate the global enriched milk powder market, accounting for over 1/4th of revenue share in 2022.

Growth in North American enriched milk powder market is driven by rising prevalence of lifestyle diseases, growing focus towards health and nutrition, and increasing availability of enriched milk products across countries like the U.S. and Canada .

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Leading enriched milk powder manufacturers are continuously focusing on expanding their product portfolios by introducing new innovative products. Beside this, they have adopted various strategies such as investments in research and development, partnerships, collaborations, acquisitions, price reduction, adoption of novel manufacturing technologies, and strengthening of distribution channels to gain an upper hand in the global enriched milk powder market.

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In the latest study, Fact.MR offers a 360-degree view of the global enriched milk powder market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the enriched milk powder market through detailed segmentation as follows:

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