According to Cognitive Market Research, the global skimmed milk powder market size will be USD 34124.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 13649.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 10237.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 7848.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1706.23 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 682.49 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The whole milk powder is the fastest growing segment of the skimmed milk powder industry
