Milk powder is dehydrated milk, made up of the dry matter of milk and used by the food industry.
According to France AgriMer, the milk market in France represented 25 billion euros in 2013. The French dairy sector collected 24.6 billion litres of milk in 2014, of which 3.56 billion litres were used to produce milk powder.
The powdered milk market is dominated by agri-food and dairy giants, leaving little room for new entrants.
The powdered milk market is forecast to grow by around 7% per year in China, where confidence in local infant products is at its lowest.
The market for milk powder may face the risk of overproduction in the event of a sudden change in world consumption, particularly in China.
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