Top Milk Powder Firms Drive Growth in NZ-USA-Asia Markets
The global milk powder market was valued at USD 243.57 billion in 2024 and is projected to grow to USD 256.85 billion in 2025, reaching around USD 270.83 billion in 2026, with a long-term projection of USD 589.57 billion by 2034. The forecasted compound annual growth rate (CAGR) from 2025 to 2034 is approximately 5.45%. Key drivers include rising demand in infant nutrition, bakery & confectionery sectors, and growing consumption in the Asia-Pacific region.
In 2024, global milk powder consumption exceeded 12.8 million metric tons, and is expected to reach 13.3 million metric tons in 2025 — or about 3.9% year-on-year growth. Asia-Pacific accounted for over 42% of global imports in 2024, led by China, India and Indonesia. From the supply side, New Zealand, the European Union, and the United States dominate exports, together making up nearly 80% of international trade volumes.
Top Dairy / Milk Powder Firms: Comparative Snapshot
| Company | 2023 / 2024 Dairy / Related Revenue* | Notes / Strengths | Challenges / Observations |
|---|---|---|---|
| Lactalis (France) | ~ €29.5 billion (2023) in dairy products | World’s largest dairy group, strong portfolio in branded cheese, milk powders, and dairy ingredients. | Integration across geographies, managing regulatory & trade risks |
| Nestlé (Switzerland) | ~ USD 24.1 billion in dairy revenue (2024) | Very strong presence in infant formula, nutrition, global brand power | Maintaining growth under raw material cost volatility, rising regulation |
| Dairy Farmers of America (USA) | ~ USD 21.7 billion | Major U.S. dairy cooperative, scale advantage, strong ingredient / export pull | Margins sensitive to feed costs, export / trade policy exposure |
| Danone (France) | ~ USD 19.7 billion | Strong in nutrition, infant formulas, emerging markets | Currency risk, regulatory pressure in key markets |
| Yili Group (China) | ~ USD 17.5 billion | Fast growth in China, expansion in milk powder & infant nutrition | Domestic competition, regulatory / quality pressures |
| Fonterra (New Zealand) | ~ USD 15+ billion equivalent dairy revenue | Large export footprint, control of milk powder / dairy ingredients | Volatility in commodity prices, restructuring pressures |
| Arla Foods (EU / Denmark-Sweden coop) | ~ €13.8 billion revenue (2024) | Strong in European markets, growth in organic / premium dairy & powder lines | Competing with global giants in export, controlling cost pressures |
| FrieslandCampina (Netherlands) | ~ €12.92 billion (2024) | Cooperative structure, diversified dairy product basket | Scaling premium milk powder globally, regulatory complexities |
| Saputo Inc. (Canada / global) | ~ C$19.06 billion revenue (FY2025)** | Strong North America / Latin America presence, dairy ingredient focus | Margin pressures, consolidation in global dairy sector |
| Glanbia PLC (Ireland) | ~ USD 5.4 billion (2023) overall | Niche strength in dairy ingredients, performance nutrition, and specialty powders | Scaling up powder business, maintaining differentiation |
* “Dairy / Related Revenue” is total dairy or dairy-product income as publicly reported; not exclusively milk powder
** Saputo figure is overall dairy business, not limited to milk powder
Industry Insights
A major trend in 2025 is the accelerating demand for specialty milk powders — including organic, fortified, lactose-free, and high-protein variants. This segment is growing faster than traditional powders, with a projected CAGR of around 7.5% between 2025-2030. It also contributes a growing share of revenues for top firms.
Leading global companies such as Nestlé, Danone, Arla Foods, Glanbia, Dairy Farmers of America, Cargill, Saputo, Kraft Heinz, Dean Foods, and Carbery are consolidating their positions by investing heavily in product innovation, expanding their presence in Asia-Pacific, and scaling exports. For example, companies are responding to rising health consciousness and regulatory standards by expanding infant formula lines, organic & fortified powders.
However, the industry faces challenges: price volatility (especially feed & energy costs), regulatory constraints (like sustainability, emissions), and import dependence in many high-demand regions, which exposes them to supply disruptions. Companies are increasingly looking at resilient supply chains, improvements in processing technology, and cost management to stay competitive
Source : Dairynews7x7 Oct 10th 2025 Read full story here