This work explores five falling film evaporator (FFE) simulation approaches combined with energy consumption minimization strategies, namely Mechanical Vapor Recompression and Thermal Vapor Recompression (MVR and TVR, respectively). Global system analysis and advanced dynamic optimization strategies are then investigated to minimize steam consumption, the cost of steam, and the total annualized cost and to maximize product yield. The results indicate that higher TVR discharge pressures, or MVR compression ratios, along with higher feed temperatures, enhance evaporation but increase operational costs. The most economical option includes three evaporator effects with TVR to achieve 50% product dry mass content. However, for a 35% dry mass content, MVR becomes cost-effective with an 11% reduction in unit electricity prices or a simultaneous 7% drop in electricity prices and a 5% increase in gas-based steam prices. Furthermore, switching from milk powder production to milk concentrates leads to an annual cost reduction ranging from 10.8 to 44%. Additionally, a forecasted 20% (or more) reduction in biomass-based steam cost can lead to lower annual expenditure compared with the nominal NG-based steam case. Regarding the total annualized cost, for a new plant design, optimization strategies lead to a 9–45% reduction in the total cost depending on the case under consideration.