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Skimmed Milk Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2031)
ID : CBI_1292 | Updated on : | Author : Yogesh K | Category : Food And Beverages
Skimmed Milk Market Scope & Overview:
Skimmed milk is a dairy product that contains a low-fat percentage. In some countries, it is known as "fat-free" milk, as many labeling laws permit foods with negligible fat content to be labeled as "fat-free". It is mostly available in grocery stores and dairies.
It is one of the best options for people who are concerned about the amount of fat in their diets. It is loaded with protein, vitamin D, calcium, phosphorous, and vitamin A. It has a slightly watery taste compared to whole milk. It is also less creamy and has a shorter shelf life.
Skimmed Milk Market Size :
The Skimmed Milk Market size is estimated to reach USD 27,686.12 million by 2031, growing from USD 16,772.11 million in 2023, at a CAGR of 6.5% during the forecast period (2023–2031).
Skimmed Milk Market Insights :
Skimmed Milk Market Dynamics - (DRO) :
Key Drivers :
Increasing awareness about health benefits drives the market.
Skimmed milk is a type of milk that has had most of the fat removed. It is a good source of protein and calcium, and it is low in calories and saturated fat. It has several health benefits, including weight loss, and bone health among others. Changing lifestyles and growth in health concerns, increasing preference for low-fat content milk as well as milk products is a major factor that drives the skimmed milk market. Several health benefits of this milk supersede its previous form.
For example, 200 ml of whole milk protein intake is close to 7 grams whereas from this milk it is around 7.4 grams. Thus, the market analysis shows that consumers prefer this milk over whole milk and its demand is high which helps skimmed milk market growth.
Various applications in the food industry drive the market.
Skimmed milk is widely used in the food industry. It is a good source of protein and calcium, and it is low in fat and calories. It is a popular beverage, especially for people who are concerned about their weight or cholesterol levels. It is used to stabilize the foam structure of confectionery products. It is used to make a variety of dairy products, such as yogurt, cheese, and ice cream.
The fat is removed from the milk during the production process, but the other nutrients remain intact. Thus, the analysis of the market depicts that, all the above-mentioned factors lead to a high demand for various food applications and drive skimmed milk market growth.
Key Restraints :
The increasing population of lactose intolerants along with the substantial rise of plant-based milk has hamper the market.
Skimmed milk contains lactose, so it is not suitable for people with lactose intolerance. Lactose intolerance is a condition in which the body does not produce enough of the enzyme lactase, which is needed to break down lactose. The prevalence of lactose intolerance is increasing worldwide. As the global population is increasing the number of lactose intolerant people is also growing all over the world.
As recent data reveals, 68% of the global population is lactose intolerant. Thus, the market trends analysis shows that the increasing population of lactose intolerants along with the substantial increase of plant-based milk has hampered the skimmed milk market demand.
Future Opportunities :
The development and launch of new flavors will open new doors for the market over the forecast period.
Skimmed milk is a type of milk that has had most of the fat removed, resulting in a fat content of less than 0.5%. It is a good source of protein and calcium, and it is low in calories and saturated fat. It can be used in many of the same ways as whole milk, including in cooking, baking, and making beverages. The demand for this milk is increasing and production is also increasing in several developing countries.
The launching of new flavors will provide ample prospects for market growth. Moreover, with the growing competition from the private sector, different national and global brands have entered the market as well as expanded their product portfolio. Thus, the market analysis shows that the development and launch of a new product will act as skimmed milk market opportunities over the forecast period.
Top Key Players & Market Share Insights:
The skimmed milk market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong product capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The skimmed milk industry is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market stake through mergers, acquisitions, and partnerships. The key players in the skimmed milk industry include-
- Alpen Food Group B.V.
- Fonterra Co-operative Group Limited
- Saputo Inc.
- Arla Foods Inc.
- Miraka
- California Dairies, Inc.
- Lactalis Ingredients
- Nestle
- Schreiber Foods Inc.
- Amul
Skimmed Milk Market Segmental Analysis :
By Type :
The type segment is bifurcated into powder and liquid. In 2022, the liquid segment accounted for the highest market share in the global skimmed milk market. This is due to the presence of large household demand. In liquid form is consumed by adults- infants and millennials. As per the U.S. CDC, the geriatric population should consume a minimum of 700 grams of calcium a day to keep orthopedic ailments away. Liquid milk is a healthy and versatile food that can be enjoyed by people of all ages which helps to boost the segment, thus in turn driving the skimmed milk market demand.
However, the powder segment is likely to grow at the fastest CAGR over the forecast period. This is because of its chemical properties which extend its shelf life. Moreover, no water is present which substantially results in a more shelf-stable life.
By Application :
The application segment is categorized into bakery, confectionery, dairy, prepared mix, and others. In 2022, the confectionery segment accounted for the highest market share in the overall skimmed milk market share. It is mostly used to stabilize the foam structure of confectionery products. It gives a desirable light dairy flavor as well as binds water to produce the firm, chewy texture of confectionery products. The addition of skim milk also permits the confectionaries to endure high temperatures and enrobing process conditions. Owing to its distinct flavor and smooth milky texture features is used to produce milk chocolate and it is also used in caramel confections, soft sweets, and different confection coatings frequently.
However, the dairy products segment is expected to be the fastest-growing segment over the forecast period. Rising consumption of dairy products with high content of protein, vitamins A & D, as well as calcium regularly is the key factor for segment growth. Additionally, dairy's calcium proves to be promising in protecting the individual from colon cancer as well as helping to normalize blood pressure and plays a key role in blood clotting, and muscle contraction. Therefore, the analysis of market trends shows that the dairy products segment will boost the skimmed milk market trends during the forecasted period.
By Distribution Channel :
The distribution channel segment is bifurcated into offline and online. In 2022, the offline segment accounted for the highest market share of 94.50% in the overall skimmed milk market share. The availability of personal store assistants plays a key role in influencing customers to try out new products. These factors make hypermarkets and supermarkets a prime channel for companies to launch their products. New brands choose offline channels to start promoting to increase the customer base, moreover also offer for tasting the new product. Thus, the analysis of segmental trends shows that all the above-mentioned factors drive the segment growth, thus, in turn boosting the skimmed milk market trends.
However, the online segment is expected to be the fastest-growing segment over the forecast period. The popularity of e-commerce sites and a growing number of manufacturers creating their websites are driving the development of this segment. In addition, developing urbanization trends force consumers to tend the online platforms due to ease and convenience. Apart from that online retailers are in-cashing volume sales advantages by including discounts and cash-back offers. All these above-mentioned factors will help to skimmed milk market expansion at the fastest CAGR over the forecast period.
Skimmed Milk Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 27,686.12 Million |
| CAGR (2023-2031) | 6.5% |
| 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) |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| 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. |
| Geographies Covered | |
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, Asia Pacific accounted for the highest market share at 34.21% valued at USD 5,443.89 million in 2022 and USD 5,704.19 million in 2023, and it is expected to reach USD 9,382.82 million in 2031. In Asia Pacific, India accounted for the highest market share of 28.30% during the base year of 2022. As per the skimmed milk market analysis, the Asia Pacific is the biggest producer as well as consumer of skimmed milk all over the world. Consumption of dairy products is rising in Southeast Asia owing to higher incomes as well as increased health awareness. A large population of the region leads to a high expenditure on milk. Thus, the analysis of regional trends shows that the demand for this milk is high in the region and dominate the market in 2022.
Furthermore, North America is expected to witness significant growth over the forecast period, growing at a CAGR of 7.1% during 2023-2031. It is a popular dairy beverage in North America. Thus, as per the regional trends analysis, the region is likely to boost the skimmed milk market expansion over the forecast period.
Recent Industry Developments :
- In August 2022, California Dairies, Inc. (CDI) acquired DairyAmerica. This investment in DairyAmerica provides the opportunity for CDI to unlock significant synergies and represents another step towards improving efficiencies in providing world markets with high-quality dairy ingredients.
Key Questions Answered in the Report
What was the market size of the skimmed milk industry in 2022? +
In 2022, the market size of skimmed milk was USD 15,913.14 million.
What will be the potential market valuation for the skimmed milk industry by 2031? +
In 2031, the market size of skimmed milk will be expected to reach USD 27,686.12 million.
What are the key factors driving the growth of the skimmed milk market? +
Increasing awareness about health benefits related to skimmed milk drives the market growth.
What is the dominating segment in the skimmed milk market by the distribution channel? +
In 2022, offline accounted for the highest market share of 94.50% in the overall skimmed milk market.
Based on current market trends and future predictions, which geographical region is the dominating region in the skimmed milk market? +
Asia Pacific accounted for the highest market share in the overall skimmed milk market.