According to a new
report published by Allied Market Research, titled, Skimmed Milk Market by Application and
Distribution Channel: Global Opportunity Analysis and Industry Forecast,
20182024 the global skimmed milk market was valued at $9,894 million in
2017, and is projected to reach $16,498 million by 2024, registering a CAGR of
7.3% from 2018 to 2024. In 2017, the confectionery segment accounted for more
than one-fifth share of the global market in terms of value.
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Skim milk is a type of
milk, which is created by removing cream from milk. The modernized and quick
way of making skim milk is to place the whole milk into a machine called a
centrifugal separator, which spins some or all of the fat globules out of the milk.
As cream has been removed from milk, it contains 0-0.5% of fat contents,
usually has an average fat content of 0.1%. Skim milk is lower in calories as
compared to other types of milk and it contains lactose, milk proteins, and
minerals in the same relative proportions as the fresh milk from which it was
made.
Skim milk has slightly
more calcium and protein when compared to full fat milk and has no added sugar.
It is loaded with protein, calcium, phosphorous, vitamin D, and vitamin A,
making it a source of high-quality complete protein. It helps build strong
bones, teeth, and muscles, and also aids in healthy weight management. Owing to
these beneficial nutrients and health benefits associated with skimmed milk,
the demand for skimmed milk has increased significantly, thereby driving the
market growth.
Skim milk is primarily
used in confectionery foods in particular. Manufacturers use skimmed milk in
its powdered form in baking recipes to enhance the tenderness of the food such
as doughnuts, cakes, and bread. Adding skimmed milk powder to bakery and
confectionery products renders the firmness thereby making them tender. It is
also used while preparing chocolates, savories, baked sweets, and other
confectionaries to improve flavor and water binding capacity allowing the
bakery product to remain fresh longer. However, to make up for saturated fats,
sugar is added to skim milk, which can lead to health issues such as diabetes
and hypoglycemia. In addition, the dairy industry often adds dried milk powder
to skim milk as protein fortification, causing the oxidization of the
cholesterol in the milk. This leads to buildup of plaque in the arteries,
inflammation in the body, and contribute to heart disease. These adverse
effects of skim milk on human body limit the growth of the skimmed milk market.
In addition, the increase in use of dairy alternative products prepared from
milk, derived from various plant-based sources such as almond, soy, rice,
coconut, and others also affect the growth of the skimmed milk market. Moreover,
the skim milk costs a little higher than the regular milk, which also hampers
the growth of the market in the developing regions such as China & India as
it has large price sensitive middle-class population. Casein and caseinates,
which is widely as food ingredients in products such as dairy desserts,
milk-based beverages, sports-nutrition, confectionery, meat products, and
non-dairy creamers are generally prepared from skim milk by acid precipitation.
Increase in use of casein and caseinates by food industry further fuels the
demand for skimmed milk.
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Key Findings of the
Skimmed Milk Market:
- In
2017, Asia-Pacific accounted for the highest market share growing at a
CAGR of 7.7% from 2018 to 2024.
- In
2017, confectionary application segment accounted for the highest market
share and is expected to growth at the highest CAGR of 8.1%.
- Hypermarket
accounted for the highest market share in 2017 and is projected to grow at
the highest CAGR of 8.1%.
- In
2017, the U.S. accounted for the highest market share and is anticipated
to grow at a significant CAGR of 7.3%.
- China
is anticipated to grow at the highest CAGR of 10.2% from 2018 to 2024.
- In
terms of value, Asia-Pacific and LAMEA collectively contributed more than
half of the share in the global market in 2017.
The key players
operating in skimmed milk market include Alpen Dairies, Amul, Arla Foods, Dairy
Farmers of America Inc., Danone S.A., Fonterra Co-operative Group Limited,
LACTALIS Ingredients, Nestle S.A, Saputo Inc., and Schreiber Foods Inc.
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