How much is a gallon of milk? In 2024, the average retail price of whole fortified milk in the United States was *** U.S. dollars, which was a decrease from the previous year. Milk production Dairy farming is an agricultural business which is engaged in the long-term milk production within the dairy industry. Dairy farming is a large contributor to the overall economy in many states. California, Wisconsin, and Idaho had the highest milk supply in 2022. Continuing the trend of each year breaking the record for milk production, an estimated ***** billion pounds of milk were produced in 2023. Milk consumption Since 2011, there has been a steady decline in milk consumption in the United States, with just **** liters consumed per capita compared to **** in 2011. This could be explained by consumers’ increasing shift towards plant-based dairy alternatives. In 2019, ** percent of consumers consumed soy products at least once a week, up from ** percent in 2010.

Milk fell to 18.73 USD/CWT on June 29, 2025, down 0.21% from the previous day. Over the past month, Milk's price has risen 0.59%, but it is still 5.83% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Milk - values, historical data, forecasts and news - updated on June of 2025.

This graph depicts the Consumer Price Index (CPI) of dairy products and eggs in France from May 2020 to December 2024. In May 2020, the CPI reached 103.72, while in December 2024, it had increased, reaching 131.51.

Fresh whole milk, fortified, sold per gallon regardless of packaging type. Includes organic and non-organic milk."

In financial year 2024, the Farmgate milk price for milk supplied to Fonterra was 7.83 New Zealand dollars per kilogram of milk solid. This was a decrease from the previous year, in which the Farmgate milk price was 8.22 New Zealand dollars per kilogram of milk solid. Fonterra Co-operative Group Limited Fonterra is a prominent dairy cooperative based in New Zealand and is one of the largest dairy companies in the world. In 2020, Fonterra secured the third position among the top 20 global dairy corporations, as measured by their market share percentage of worldwide milk production. Over the years, the company has played a pivotal role in New Zealand's economy, contributing significantly to the nation's dairy exports. In 2024, Fonterra's sales revenue declined slightly compared to the previous year. Dairy industry in New Zealand New Zealand has a thriving dairy export industry, with dairy products being a significant contributor to the country's economy. During the financial year 2024, New Zealand's dairy industry export revenue reached 23.2 billion New Zealand dollars. Key dairy exports from New Zealand include fluid milk, butter, cheese, and milk powder, with many products finding markets in Asia, particularly China. The industry has faced challenges related to price fluctuations and international trade dynamics, but it continues to be a vital sector in New Zealand's agricultural and export landscape.

For the fifth consecutive year, the global whole fresh milk market recorded growth in sales value, which increased by 5% to $826.8B in 2024. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2024 and is likely to continue growth in the near future.

Fresh low fat, reduced fat, or skim milk, sold per gallon, regardless of packaging type. Include organic and non-organic milk.

Average consumer prices are calculated for household fuel, motor fuel, and food items from prices collected for the Consumer Price Index (CPI). Average prices are best used to measure the price level in a particular month, not to measure price change over time. It is more appropriate to use CPI index values for the particular item categories to measure price change.

Prices, except for electricity, are collected monthly by BLS representatives in the 75 urban areas priced for the CPI. Electricity prices are collected for the BLS for the same 75 areas on a monthly basis by the Department of Energy using mail questionnaires. All fuel prices include applicable Federal, State, and local taxes; prices for natural gas and electricity also include fuel and purchased gas adjustments.

For more information, please visit the Bureau of Labor Statistics (https://www.bls.gov/cpi/factsheets/average-prices.htm).

Milk price of Nova Scotia climb by 2.82% from 908 dollars per kilolitre in 2024M9 to 934 dollars per kilolitre in 2024M10. Since the 1.99% decrease in 2024M7, milk price increased by 3.58% in 2024M10.

In 2024, the producer price index for milk in Germany was 144.9. This means that prices had increased by around 45 percent compared to the index year of 2024.

Fresh whole milk, fortified, sold per gallon regardless of packaging type. Includes organic and non-organic milk."

In 2024, the farm gate price of fresh milk in Thailand amounted to around 20.95 Thai baht per kilogram. This was the highest price for fresh milk since 2013.

In 2024, the Azerbaijani milk market increased by 0.6% to $1.7B, rising for the ninth year in a row after two years of decline. Over the period under review, consumption, however, showed a modest expansion. As a result, consumption attained the peak level of $1.8B. From 2014 to 2024, the growth of the market remained at a lower figure.

According to Cognitive Market Research, the global Skim Milk Powder market size will be USD 116524.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% 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 46609.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3753.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 26800.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 5826.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% 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 2330.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The Instant category is the fastest growing segment of the Skim Milk Powder industry

Market Dynamics of Skim Milk Powder Market

Key Drivers for Skim Milk Powder Market

Increasing consumer awareness regarding health and nutrition to Boost Market Growth

Increasing consumer awareness regarding health and nutrition is significantly driving the skim milk powder market. As more people prioritize healthier lifestyles, they seek low-fat and nutrient-rich food options. Skim milk powder, being low in fat and high in protein, is perceived as a healthier alternative to whole milk, appealing to health-conscious consumers. Additionally, the growing trend of incorporating dairy products into balanced diets, particularly among athletes and fitness enthusiasts, has boosted demand for skim milk powder. Its versatility in various applications, including baking, cooking, and as a nutritional supplement, further enhances its attractiveness. Moreover, increased awareness of the benefits of calcium and vitamins found in skim milk powder supports its consumption, leading to a positive market outlook. For instance, to rejuvenate the well-established product category, Chinese dairy company Junlebao launched a new milk powder line called "Le Gai," designed to enhance calcium absorption for middle-aged and older consumers. According to the company, Le Gai milk offers 1200 mg of calcium per 100 g of powder, providing twice the calcium content compared to standard whole milk powder.

Growing consumption of dairy products to Drive Market Growth

The growing consumption of dairy products is a significant driver of the skim milk powder market. As dietary preferences shift towards healthier options, consumers increasingly favor dairy for its nutritional benefits, including high protein and essential vitamins. Skim milk powder serves as a versatile ingredient in various food applications, such as baked goods, confectioneries, and dairy-based beverages, catering to the rising demand for dairy-rich products. Additionally, the popularity of products like yogurt and cheese, which often incorporate skim milk powder, has surged, further fueling its consumption. Moreover, emerging markets are witnessing an increase in dairy consumption due to urbanization and changing lifestyles, contributing to the expanding skim milk powder market. This trend is supported by growing awareness of the health benefits associated with dairy intake.

Restraint Factor for the Skim Milk Powder Market

Fluctuations in milk prices will Limit Market Growth

Fluctuations in milk prices pose a significant restraint on the skim milk powder market. As the primary raw material for producing skim milk powder, any volatility in milk prices directly impacts production costs. When milk prices rise sharply, manufacturers may face increased operational costs, leading to higher prices for skim milk powder. This can reduce consumer demand as buyers seek more affordable alternatives or adjust their purchasing habits. Conversely, if milk prices drop, it may lead to oversupply, driving down prices and squeezing profit margins for producers. Such uncertainty can hinder long-term investments in the market and create challenges for suppliers in planning their production schedules, ultimately affecting the o...

The Wholesale Price Index of milk across India during financial year 2024 was over 180. An overall increase in the price index for milk was seen over the years from financial year 2013 in the country.

The global market size of Milk is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Milk Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Milk industry. The key insights of the report:
1.The report provides key statistics on the market status of the Milk manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Milk industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Milk Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Milk as well as some small players. At least 17 companies are included:
* Nestle
* Danone
* Arla Foods
* Mengniu Dairy
* Lactalis
* Dairy Farmers of America
For complete companies list, please ask for sample pages.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Milk market
* Yogurt
* Probiotic Milk
* Pure Milk
* Others
For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Online
* Offline

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

China Consumer Price Index (CPI): Food: Milk & Its Product data was reported at 98.400 Prev Year=100 in 2024. This records a decrease from the previous number of 100.400 Prev Year=100 for 2023. China Consumer Price Index (CPI): Food: Milk & Its Product data is updated yearly, averaging 101.000 Prev Year=100 from Dec 1994 (Median) to 2024, with 31 observations. The data reached an all-time high of 133.500 Prev Year=100 in 1994 and a record low of 98.400 Prev Year=100 in 2024. China Consumer Price Index (CPI): Food: Milk & Its Product data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.IA: Consumer Price Index.

Dairy Price Index in World increased to 153.50 Index Points in May from 152.20 Index Points in April of 2025. This dataset includes a chart with historical data for World Dairy Price Index.

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

Market Dynamics of Skimmed Milk Powder Market

Key Drivers for Skimmed Milk Powder Market

Increasing demand for dairy-based products to drive market growth

The increasing demand for dairy-based products, including skimmed milk powder, in emerging markets is driven by rising urbanization, changing consumer preferences, and higher disposable incomes. With growing awareness about the nutritional benefits of dairy, particularly in regions like Asia-Pacific, the market for SMP is expanding rapidly. Consumers in countries such as China and India are increasingly incorporating dairy into their diets, leading to higher consumption of products like infant formulas, confectionery, and bakery items. As these countries experience economic growth and an expanding middle class, the demand for value-added dairy products like SMP is expected to continue to rise. In addition, government initiatives promoting dairy consumption further support this trend, encouraging local production and importation of SMP to meet demand.

Versatility of SMP in various culinary applications to boost market growth

The versatility of skimmed milk powder (SMP) is one of the key drivers of its market growth, especially in the food and beverage sector. SMP is widely used in the production of confectionery, bakery, nutritional foods, infant formulas, and dry mixes, thanks to its ability to improve texture, taste, and nutritional value in various applications. In the bakery industry, SMP enhances product moisture and improves shelf life, making it an essential ingredient. The product's long shelf life and ease of transportation also contribute to its popularity, especially in global trade. Moreover, as consumer demand for healthier products rises, SMP’s ability to offer a low-fat, nutritious option makes it highly sought after. Manufacturers are increasingly using SMP in frozen desserts and fermented milk products, further driving its versatility in culinary applications.

Restraint Factor for the Skimmed Milk Powder Market

Fluctuating demand in some seasonal markets to limit market growth

Fluctuating demand for skimmed milk powder (SMP) in some seasonal markets can pose a challenge to manufacturers. Seasonal demand variations are particularly prevalent in regions where consumption is tied to specific holidays or weather conditions. For example, in certain countries, demand for SMP may peak during the winter months, as it is used in preparing comfort foods like hot beverages and baked goods, while it may decline during warmer months when dairy consumption typically decreases. These fluctuations can lead to excess supply during off-peak seasons or insufficient stock during high-demand periods. Manufacturers must carefully manage production schedules and inventories to address these seasonal variations. Additionally, fluctuating demand can affect pricing stability, as manufacturers may face challenges in adjusting prices to reflect shifts in market conditions.

Impact of Covid-19 on the Skimmed Milk Powder Market

The Covid-19 pandemic had a mixed impact on the skimmed milk powder (SMP) market. On the one hand, the closure of restaurants, hotels, and schools during lockdowns l...