If you don't already own such a product, you can make your own with this 'not at all secret recipe as is was use pretty much for decades and even before GW exist, that means even before some people here were born' : - wood glue - baking soda (it could be the cleaning product or the baking one) - white acrylic paint Try mixing it yourself until you get the result that suits your desire. I didn't use it that much so far but I'm happy with the result and as I already had everything at hand, it didn't cost me anything. The mixture can look a bit muddy at first (you can use brown paint for mud BTW) but you have to let it dry. If it's still not as snowy at you want, you can put an extra bit of baking soda on top while it dry for a more "powdery" looks.
I was not aware of this aspect and to be fair I lack the long term experience to check it myself. That's something to consider indeed;
Here's a decent comparison of diy snow I find the guy a bit irritating but very useful info nevertheless.
Seconded - I use matte medium (Liquitex, but there are many good brands) for anything that calls for white glue. It doesn't discolor and it's not water soluble once it's dried. So you don't have to worry about your basing materials coming loose if you spill your drink or even if it's just a particularly humid day.
Some wood glue turns yellow in some years. It depends, not all them are the same. My take is it's formulated to be removable for fixes (but also meaning things will break as time passes, and fixes will be needed). Look below chairs and tables, they may give you a demo of how old glue can look. The water thing is easier to test, just glue some flock to a base, let it dry for a week or two. Then dunk in water, and check every few minutes at first, (and assuming it did not fail already) then hours, then days. Mine failed by just trying to wash some old minis to remove dust faster. BTW, hot glue tends to fail with alcohol.
If you get the hobby paints ones then you find it at your usual retailer (I know Vallejo for sure) it you're heading to bigger bottle as Liquitex then check your local art supply store.
Speaking of glues, you could also use something like superglue for wooden models (like ship modelism). I did my basing on some models with a mix of micromarble (finely ground white marble) and a Zvezda glue for wooden models, and it worked pretty well. Just be careful, because this type of glue is very chemically active and can devour paint on any part of base or mini it touches.
It's more the glue binder you use, rather than the bicarb itself that yellows. Bicarb (Sodium bicarbonate - a baking product, a cleaning product, a deodorising product, and great for snow) is what they used for the snow in all of the snow scenes for "A nightmare before christmas", btw.
I have art store matte acrylic medium for basing and large projects, and I have Vallejo thinner medium and Vallejo glazing medium for painting minis. I honestly can't really tell the difference between the thinner medium and glazing medium.
Art shops. Some art products by Vallejo are pretty much, if not 100%, the same than the ones they sell in tiny bottles for proportionally more money. "Glaze medium for minis" is 17ml or 60ml, and "art glossy glaze medium" comes in 500ml or 5l. And other art brands (Liquitex, Golden, W&N, Pebeo...) are perfectly fine too, and the price thing applies too (with exceptions like imported items, which go for absurd prices). Really, go to your local art (web) shops and start looking around. Plenty of useful things. Some miniature products are no better than the amateur range sold by art brands. Then you can go all pro and say you paint with artist pigments. The current rage about (airbrush) inks or single pigment acrylics is hilarious (not for the quality, but for the "oh, ah" around it), TBH. Paying for premixed colors is valid (saves time), but thinking miniatures products are handled by faeries with special care and pictures were painted with rough mud, or viceversa... Vallejo glazing medium includes retarder. Paint should take more time to dry. OTOH, Liquitex glazing requires their slow-dri (not a typo, that is the name they use) or will dry fast.