Milk Powder Market Players Analysis by Recent Development, Strategy, Sustainability Benchmarking, Product Launch, Key Persons and Revenue Forecast

Milk Powder Market Companies Analysis

The Milk Powder industry is expected to expand lucratively to an estimated value of US$ 33.69 Billion by 2033, from US$ 51.96 Billion in 2024. This expansion reflects a compound annual growth rate (CAGR) of 4.94% between 2025 and 2033.

The milk powder market has experienced substantial growth in recent years, driven by increasing demand for dairy products, convenience foods, and nutritional supplements. Milk powder, produced by removing water from liquid milk, offers a longer shelf life, easier transportation, and consistent quality compared to liquid milk. It is widely used in infant formula, bakery products, confectionery, dairy-based beverages, and processed foods. Rising awareness of the nutritional benefits of milk proteins, calcium, and other essential nutrients has further fueled consumer adoption. Additionally, the expanding population, urbanization, and changing dietary patterns-particularly in emerging economies-have contributed to sustained growth. Both full-cream and skimmed milk powders are gaining traction due to their versatility in cooking, baking, and fortification applications.

The market is also influenced by technological advancements in processing, which enhance the quality, solubility, and flavor of milk powder while preserving nutrients. Innovations in functional and fortified milk powders, including those enriched with vitamins, minerals, and probiotics, cater to health-conscious consumers and specialized segments such as infants, elderly populations, and athletes. Moreover, the growing demand for plant-based alternatives has led to a parallel rise in non-dairy milk powders derived from soy, almond, oat, and other sources, expanding the overall market landscape. Strategic investments, product innovations, and global trade in milk powder continue to create opportunities for manufacturers and suppliers to meet the evolving consumer demand while ensuring sustainability and quality across the supply chain.

List of Leading Companies in the Milk Powder Market

Nestle S.A.

Establishment: 1866

Headquarters: Switzerland

Website: www.nestle.com

Revenue: $103.8B in 2023

Nestle SA (Nestle) manufactures and markets food and beverages. Coffee, cereals, candies and confections, baby food, bottled water, and kitchenware are among the products offered by the company. It also sells plant-based foods, dairy products, ice cream, pet care products, and frozen and refrigerated dinners. Nestle sells its products under a number of brands, including Aero, Nescafe, Nespresso, Purina Alpo, Milkybar, Nestle Ice Cream, Cerelac, Nido, Perrier, S.Pellegrino, Acqua Panna, Nestea, Milo, Maggi, Buitoni, Cailler, Movenpick, Purina, Boost, Gerber, and Kit Kat. The company has operations across Africa, Asia, Oceania, Europe, the Middle East, and the Americas. Nestle's headquarters are in Vevey, Waadt, Switzerland.

Danone SA

Establishment: 1919

Headquarters: France

Website: www.danone.com

Revenue: $29.6B in 2023

Danone SA (Danone) manufactures and produces dairy and nutritional products. The company sells bottled water, fresh dairy products, medical nutrition supplies, and early life nutrition goods. Its product offers include plant-based healthy goods and beverages, dairy specialties, fermented dairy products, yogurt, and specialist foods for young children and the elderly. Danone sells bottled water in addition to flavored and sparkling water. The company markets its products under a number of names, including Actimel, Activia, Danette, Danone, Dananino, YoPRO, International Delight, Oikos, Silk, Evian, Volvic, and Aqua. It sells its products through a variety of channels, including retail chains, traditional marketplaces, and specialized distribution channels like pharmacies, clinics, and hospitals. The company has operations in the Americas, the Middle East, Asia-Pacific, Africa, and Europe. Danone's headquarters are situated in Paris, on the Ile-de-France in France.

Arla Foods amba

Establishment: 2000

Headquarters: Denmark

Website: www.arla.com

Revenue: $14.8B in 2023

Arla Foods amba (Arla Foods) is the company that manufactures and distributes dairy products. Among the company's products are milk, milk powder, butter, yoghurt, cheese, nutrition, and other dairy items. Anchor, Lurpak, Castello, Lactofree, Apetina, Lurpak, Baby and Me Organic, Dano, Cheasy, Natura, Yoggi, Kaergarden, and Buko are some of the brands that Arla Foods offers its products under. The company's business plan covers farmers, cows, milk collecting, consumers, packaging, and production. Its clientele is diverse and includes grocery, restaurant, and business-to-business chains. The company sells its products across Asia-Pacific, North America, Europe, and the Middle East. Arla Foods' main office is situated in Viby, Denmark.

Saputo Inc.

Establishment: 1954

Headquarters: Canada

Website: www.saputo.com

Dairy products are manufactured and distributed by Saputo Inc. (Saputo). Cheese, fluid milk, flavored milk, dairy components, milk with a longer shelf life, cultured goods, beneficial dairy blends, dairy ingredients, and cream products are among its product offerings. Armstrong, Alexis de Portneuf, Willow, Utterly Butterly, Sheese, Clover, Country Life, Great Midwest, Stella Dairyland, Treasure Cave, Vitalite, Neilson, La Paulina, Devondale, CHEER, Baxter, and Liddells are just a few of the brands that the corporation sells its goods under. It runs production plants in the US, Canada, and Australia. The corporation operates in the US, Australia, the UK, Argentina, Europe, and Canada. The headquarters of Saputo are located in Montreal, Quebec, Canada.

Royal FrieslandCampina N.V.

Establishment: 2008

Headquarters: Netherlands

Website: www.frieslandcampina.com

Dairy products are produced and sold by Royal FrieslandCampina NV (FrieslandCampina), a division of Zuivelcooperatie FrieslandCampina UA. Dairy-based drinks, condensed milk, cream, nutrition goods, yoghurt, butter, cheese, milk powders, sweets, and functional ingredients are all part of the company's product line. The brands Bonnet Rouge, Campina, Chocomel, Debic, Dutch Lady, Vifit, Foremost, Frico, Valess, Three Crowns, and Tarang are used by FrieslandCampina to market its goods. Professional clients include bakers, pastry chefs, restaurants, caterers, chocolate confectioners, and producers of culinary, pharmaceutical, and infant nutrition products. The business operations of the corporation are conducted worldwide. Amersfoort in Utrecht, the Netherlands, is home to FrieslandCampina's headquarters.

SWOT Analysis of Dairy Farmers of America Inc.

Strength - Farmer-Owned Cooperative Model

A key strength of Dairy Farmers of America (DFA) lies in its farmer-owned cooperative structure, which creates a strong foundation of trust, loyalty, and shared purpose among its members. This model ensures stable milk supply, fair pricing, and collective bargaining power, helping farmers remain profitable and resilient against market fluctuations. With over 11,000 family-owned farms across the United States, DFA maintains extensive control over its supply chain-from milk collection to processing and distribution-ensuring quality, efficiency, and consistency. The cooperative's scale and vertically integrated operations also enable cost efficiencies and enhance market competitiveness. Moreover, DFA's community-driven approach fosters transparency, sustainability, and long-term relationships, positioning it as a trusted leader in the U.S. dairy industry focused on both farmer welfare and consumer satisfaction.

Opportunity - Expansion into Value-Added and Sustainable Dairy Products

Dairy Farmers of America has a significant opportunity to expand its portfolio through value-added and sustainable dairy innovations. As global demand shifts toward premium, organic, and fortified dairy products, DFA can leverage its strong production base to develop high-margin items like specialty cheeses, protein-enriched milk powders, lactose-free products, and probiotic yogurts. Growing consumer awareness of sustainability also offers a platform for DFA to highlight its farmer-owned model, ethical sourcing, and environmental initiatives, such as reducing carbon emissions and improving animal welfare. Additionally, investing in plant-based or hybrid dairy alternatives can help diversify revenue streams and appeal to changing dietary preferences. By focusing on innovation, sustainability, and product differentiation, DFA can strengthen its brand presence and secure long-term growth in evolving global dairy markets.

SWOT Analysis of Amul (Gujarat Co-operative Milk Marketing Federation Ltd.)

Strength: Cooperative Supply Chain & Brand Equity

Amul's cooperative model is its backbone, involving over 3.6 million farmer-members across nearly 18,600 village societies in Gujarat. This model ensures a stable and reliable supply of raw milk, reducing dependence on intermediaries and helping Amul manage quality, cost, and fairness in farmer incomes. The structure also fosters deep rural engagement and social goodwill. Coupled with its long history, Amul has built massive brand equity-being one of India's most trusted dairy brands, associated with affordability, purity, and nostalgia. These strengths allow Amul to maintain leadership in the dairy sector, secure customer loyalty even in competitive markets, and leverage economies of scale to keep costs low while ensuring consistent quality and widespread distribution.

Opportunity: Innovation & International Expansion

Amul has significant opportunities for growth through product innovation and global expansion. Rising health consciousness among consumers is driving demand for value-added dairy offerings such as high-protein, low-fat, lactose-free, fortified, and probiotic products. Such innovations can cater to evolving dietary preferences and urban wellness trends. Amul is also exploring sustainability-linked ventures, such as converting whey (a byproduct) into bioethanol, which supports environmental goals and adds revenue streams. Additionally, growing global demand for authentic Indian dairy products like paneer, ghee, and sweets presents expansion potential. With its strong brand reputation, supply chain, and farmer-backed model, Amul is well-positioned to strengthen its international presence across Asia, the Middle East, Europe, and North America.

SWOT Analysis of Yili Group

Strength: Strong Brand Equity, Quality, and Supply-Chain Leadership

Yili's strength lies in its dominant position as Asia's No.1 dairy brand, backed by decades of high-quality product delivery, strong brand recognition, and deep supply-chain control. It continuously ranks among the top dairy brands globally, with high revenue, solid consumer trust, and a large base of repeat customers. Yili has invested heavily in its milk sourcing-85% of its suppliers come from China's "golden milk source belt"-ensuring high and consistent raw-milk quality. Yili also operates multiple R&D and innovation centers, enabling it to respond rapidly to changing consumer preferences with premium and niche dairy products. Its distribution reach across urban and rural China (and increasingly overseas) gives it an edge in both scale and market penetration. All these combines to give Yili a resilient platform in a highly competitive market.

Opportunity: Innovation & Global Expansion into High-Value and Functional Products

Yili has a promising opportunity to accelerate growth through product innovation-especially functional and health-focused dairy products-as well as expanding its international footprint. Growing consumer demand for fortified, probiotic, high-nutrition, lactose-free, and organic dairy offerings provides space for Yili to develop premium product lines that command higher margins. Already, Yili has introduced immunity-enhancing formulas, probiotic yogurts, and other health-oriented products. Additionally, its expansion into overseas markets (over 60 countries) allows the company to tap into rising middle-class consumption in Asia, Africa, and other regions. Strengthening localised products, tailoring flavours and formats to international consumer preferences, and leveraging its global innovation system can help Yili diversify risk away from saturated domestic markets and ride the global trend for healthy and functional foods.

Latest News and Developments:

• June 2025: At its recently constructed dairy processing plant in Pasco, Washington, Darigold, Inc. has started operations. Up to 8 million pounds of milk from more than 100 regional farms will be processed daily by the plant, which will produce butter and powdered milk for domestic and foreign markets in 30 countries.
• As part of its diversification strategy to expand its non-alcoholic beverage sales, Asahi Group Japan made its first foray into the dairy alternative market in May 2025 with the launch of Like Milk, a yeast extract powder-based milk substitute free of 28 major allergens.
• In order to satisfy health-conscious consumers who want the advantages of milk without the extra fat, Nova Dairy introduced a new skim milk powder in May 2025. The skimmed milk powder uses advanced drying methods and is made from fresh milk while adhering to strict hygienic guidelines. This ensures a finished product that is light, readily soluble, and free of contaminants in addition to preserving the milk's essential nutrients.

Milk Powder Market & Forecast

• Historical Trends
• Forecast Analysis

Market Share Analysis

Company Analysis

Overview

• Company History and Mission
• Business Model and Operations
• Workforce

Key Persons

• Executive Leadership
• Operational Management
• Division Leaders
• Board Composition

Recent Development & Strategies

• Mergers & Acquisitions
• Partnerships
• Investments

Sustainability Analysis

• Renewable Energy Adoption
• Energy-Efficient Infrastructure
• Use of Sustainable Packaging Materials
• Water Usage and Conservation Strategies
• Waste Management and Circular Economy Initiatives

Product Analysis

• Product Profile
• Quality Standards
• Product Pipeline
• Product Benchmarking

Strategic Assessment: SWOT Analysis

• Strengths
• Weaknesses
• Opportunities
• Threats

Revenue Analysis

The above information will be available for all the following companies:

1. Nestle S.A.

2. DuPont de Nemours, Inc.

3. MGP Ingredients

4. Kerry Group plc.

5. Tessenderlo

6. CHS, Inc.

7. Crop Energies AG.

8. Glanbia Plc.

9. Cargill, Incorporated

10. Roquette Freres

11. Kerry Group plc.

12. Bunge Limited

13. Axiom Foods

14. Puris (Puris Proteins)

15. Burcon NutraScience