Project report for Milk Powder

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Introduction

Powdered milk is used in India for food and health, and also in biotechnology. Dairy products are highly perishable. Converting milk into milk powder increases its shelf life and enables it to be stored for extended period about 1 year without substantial loss of quality, even at ambient temperatures. It is a rich source of essential nutrients required by the body for the overall growth. It contains low moisture, fat and milk protein content and is used as a substitute to whole milk powder by the consumers who want to reduce their calorie intake. As milk powder has diversified applications in the food and beverage industry, the sustained growth of this industry has been proactive in stimulating its demand, particularly in the developing countries like India.

Powdered milk, also called dried milk, or milk powder is a manufactured dairy product made by evaporating milk to dryness. One purpose of drying milk is to preserve it; milk powder has a far longer shelf life than liquid milk and does not need to be refrigerated, due to its low moisture content. Another purpose is to reduce its bulk for the economy of transportation. Powdered milk and dairy products include such items as dry whole milk, nonfat (skimmed) dry milk, dry buttermilk, dry whey products and dry dairy blends. Many exported dairy products conform to standards laid out in Codex Alimentarius.

Market potential & Strategy

The global milk powder market was valued at INR 20,63,394 Crores in 2019 and is projected to reach INR 28,28,557 Crores by 2025, growing at a CAGR of 4.4% from 2019 to 2025. Milk powder is a dry dairy product, manufactured by dehydrating milk using evaporation. The purpose of making milk powder is to increase the shelf life of milk without using the refrigerator. Various types of milk powder include whole milk powder, skimmed milk powder, dairy whitener, and other. It is widely consumed globally due to its nutritional benefits, which has found its application in infant formulas, confectionaries, baked desserts, and savory items. Milk powder offers the same nutritional value as regular milk, owing to which, it is used in sports nutrition products including nutrition bars and beverages. The increasing demand for these products, driven by growing fitness consciousness, has been catalyzing the milk powder market. The governments of various nations have laid down stringent policies on taxation, duty structures, subsidies and export/import of milk powder which can have major implications on the bottom lines of milk powder producers and hinder the market growth. The healthy growth of the market can be attributed to numerous forces. The market is primarily being driven by growing health consciousness among the consumers. Some of the other factors which have contributed to the growth of the market include increasing population, rising incomes, improving standards of living and penetration in the emerging regions.

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