The concentrated milk fat market is anticipated to flourish at a strong CAGR of 7.9% between 2023 and 2033. The market is expected to hold a market share of US$ 9,651.8 million by 2033 while it is likely to reach a value of US$ 4,501.0 billion in 2023. The ability to provide a longer shelf-life, along with a low cost, and other factors are expected to increase the sales of the concentrated milk fat market during the forecast period.
Globally the demand for concentrated milk fat is expanding quickly due to consumer demand for condensed milk ingredients that require minimum preservation and have a longer shelf life. Concentrated milk fats, sometimes referred to as anhydrous milk fats, are produced when the milk’s virtually all its water and non-fat particles are removed through a physical process. The concentrated milk fats have a longer shelf life, can be stored in bulk, and are simple to transport, all of which minimize the overall cost. This is because concentrated milk fats have a low moisture content. Another element accelerating the concentrated milk fat market’s rise is the product’s growing use to enhance texture and flavor in various applications.
The demand for organic milk fat concentrates is driven by organic products’ growing popularity due to their safer and healthier alternatives. The concentrated milk fat industry is expanding owing to the creation of cutting-edge products like whipped milk fat concentrate for simple incorporation and high melting point milk fat concentrate to withstand high-pressure circumstances.
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The dairy business has been booming for years with a growing worldwide population and shifting consumer preferences. Concentrated milk fat is just one of several dairy products made possible by the rapid development of dairy processing machinery and technology. Demand for concentrated milk fat is rising, driven by the benefits of longer product shelf life, greater product versatility, convenience, simpler storage, and cheaper transportation.
Market Takeaways at a Glance
- The United States market for concentrated milk fat is driven by the increasing demand for premium dairy products and the presence of several key players. This results in the United States to dominate the global concentrated milk fat market with a share of 16.9%
- The market in India is expected tomature owing to its strong dairy tradition. The region is expected to experience strong growth with a CAGR of 9.8% in the forecast period.
- The United Kingdom represents a high potential market for concentrated milk fat, mainly driven by the expansion in the bakery and confectionery industry. It is anticipated to grow at a CAGR of 8.7% through 2033.
- The China market offers an untapped growth potential with an expected CAGR of 5.7% in the projected period owing to the rapid urbanization and growing opportunities in the food and beverage industry.
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Competition in the Market
The global concentrated milk fat industry is fragmented, with many domestic as well as international businesses vying for market dominance. Companies tend to concentrate on new product launches with natural or organic claims as their major marketing method because of evolving consumer food patterns and adequate milk supply. Such efforts have paved an opportunity for players in the market to expand their business and client base. With the increased demand for concentrated milk fat in the global industry, market players in the concentrated milk fat market are projected to benefit from enticing potential for expansion in the future.
Market Changes and Developments in 2023
- Darigold, Inc., Seattle in July 2023, joined the Global Dairy Trade (GDT) platform by completing its first product offering of two skim milk powder products and one buttermilk powder product. Darigold is a Seattle -based farmer owned co-op that is looking to leverage its proximity to global shipping infrastructure, and this was an opportunity for Darigold to expand its market and increase its consumer base.
- FrieslandCampina signed a 4-year agreement with Mondelēz International in June 2023 to work on reducing the carbon footprint and decreasing the emissions of greenhouse gases of milk by 14% in 2025 as compared to that in 2019. The motive of the partnership was seen as an attempt to establish a relationship to increase consumer base and also to accelerate carbon reduction.
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Concentrated Milk Fat Market by Category
Nature:
- Conventional
- Organic
Application:
- Soups & Sauces
- Bakery & Confectionery
- Dairy Products
- Others
Form:
- Liquid
- Dry
Distribution Channel:
- Direct Sales/ B2B
- Indirect Sales/ B2C
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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