The Latin America, Middle East and Africa Milk Powder Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030).
The rise of plant-based milk alternatives, such as almond, soy, oat, and coconut milk, is influencing the market. Consumers seeking dairy-free options due to lactose intolerance, ethical concerns, or environmental considerations drive demand for plant-based products derived from alternative sources.
Additionally, increasing consumer demand for clean-label products with transparent ingredient lists drives the adoption of its formulations made from natural, minimally processed ingredients. Manufacturers are responding by offering their products free from artificial additives, preservatives, and allergens to meet consumer preferences for clean and natural foods.
As the self-sufficiency rate for fresh dairy products in Saudi Arabia indicates a thriving local production landscape, this sector's demand for its products becomes essential. Furthermore, as per the Agricultural Statistics Publication, in Saudi Arabia for 2021, fresh dairy products notably attained an impressive self-sufficiency rate of 121%; this achievement signifies that the country produced 121% of its domestic fresh dairy product needs. Thus, the expansion of the processed food industry and the rising dairy products sector are propelling the market's growth.
The Brazil market dominated the LAMEA Milk Powder Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $935 Million by 2030. The Argentina market is registering a CAGR of 7.1% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 6.2% during (2023 - 2030).
Free Valuable Insights: The Worldwide Milk Powder Market is Projected to reach USD 43.8 billion by 2030, at a CAGR of 4.7%
Based on Product Type, the market is segmented into Whole Milk Powder, Skimmed Milk Powder, Dairy Whitener, Buttermilk Powder, Fat Enrich Milk Powder and Others. Based on Application, the market is segmented into Bakery & Confectionery, Infant Formula, Ice-Creams, Nutrition Food, Sweets & Savories, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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