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.
Concentrated milk fat, also referred to as anhydrous milk fat (AMF), is obtained by eliminating the water and non-fat fragments from milk, resulting in a highly concentrated form of milk fat. Given that concentrated milk fats contain less moisture, they can be retained at room temperature for several months, resulting in a longer lifespan, bulk storage, and quicker transportation, decreasing the overall cost.
Owing to the extended shelf-life of concentrated milk fats, in comparison to milk and cream, it finds extensive use in the food and beverage industry. In food processing, bakery, confectionery and dairy products concentrated milk fat is used as a primary ingredient in the production of chocolates, ice creams, pastries, and other such dairy based products. Moreover, concentrated milk fats enhance the flavor and texture in these products driving the market towards growth.
Organic milk fat concentrates are in plentiful demand due to the increasing acceptance of organic products as safer and healthier substitutes. Innovative goods such as whipped milk fat concentrate for easy incorporation and high melting point to withstand high-pressure situations have encouraged market expansion.
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The popularity of concentrated milk fat is limited and with the surge in the health consciousness among consumers regarding the benefits of low fat and healthier alternatives to concentrated milk fat, consumers are opting for low-fat healthier substitutes. Despite this roadblock, many manufacturers are utilizing this as an opportunity to expand their business and develop low-fat concentrated milk fat products to cater to the changing consumer demand.
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 to mature 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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