The market was valued at US$1.73 billion in 2016, and is expected to reach US$3.06 billion by the end of the forecast period.
Freshness, purity, and nutrition are among some of the most valued health attributes of organic products. Consumers across the globe are inclining towards food products that are purely organic and do not contain any artificial ingredients in them. Moreover, genetically modified food items are often linked with the cause of various lifestyle diseases.
Worldwide regulatory bodies responsible for quality control have been enforcing laws to restrict excessive use of artificial ingredients in food and beverages. One particular product that remains under severe scrutiny is milk, which is considered as a staple item in most parts of the world.
Among various milk products, global demand for organic milk powder has surged rapidly over the recent years. The study found that global production of organic milk powder in 2016 grew by 2-2.5 percent as compared to the year before. This is due to consumers’ positive perception of its role in providing essential nutrients, resulting in increased consumption of organic milk powder.
Based on organic milk powder type, demand for whole milk is expected to remain robust throughout the forecast period, registering a CAGR of 5.8 percent in terms of value. In addition, whole milk is projected to account for 53.6 percent of the market by the end of 2017.
By end-use, the food segment is estimated to account for a market share of over 66 percent by the end of the forecast period, and is anticipated to register a CAGR of 5.6 percent in terms of value by 2027. The segment is projected to reach US$2.08 billion by the end of the forecast period.