Metal powder is the feedstock for most of the metal additive manufacturing (AM) technologies, including powder bed fusion – laser beam (PBF-LB) and electron beam (PBF-EB), binder jetting (BJT) and powder blown directed energy deposition (DED). However, even if nearly the same alloys systems are used, requirements to the powder feedstock are rather different. Processing conditions during powder-based metal AM differ significantly, depending on technology, hardware solution and process parameters employed. This results in changes in powder properties during manufacturing cycle and especially during its reuse, also having significant impact on the final component properties. This work summarizes recent experimental observations and thermodynamic simulations of the changes in powder properties during the whole life-cycle of metal powder: from its manufacturing through powder handling and AM processing by variety of powder-based metal AM technologies. Generic model of the powder degradation in dependance on alloy composition and AM technology, is elaborated.