In recent times, the global demand for concentrated milk fat has mounted drastically as there have been improvements in the economic conditions of the developing regions.
DUBAI, UAE / ACCESSWIRE / March 17, 2020 / As of 2019, the global concentrated milk fat market was valued to be US$ 68 Mn. A new Future Market Insights (FMI) study reveals that there is a rapid increase in the stipulation for concentrated milk fat products in developed and developing countries, owing to their multiple health benefits. The presence of conjugated linoleic acid in concentrated mil fat aids is prevention of chronic health ailments, which remains a key factor driving market growth.
"To stay ahead of the curve, the food and beverage industry is widely using concentrated milk fat in their food products. This growth is majorly driven by rising application of concentrated milk fat in chocolates, ice-creams, and oils," highlights FMI report.
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Key Takeaways on Concentrated Milk Fat Market
- Sales of dry form of concentrated milk fat are expected to reap high profits through the forecast period.
- Demand for liquid concentrated milk fat is poised to grow steadily through 2029.
- Use of concentrated milk fat in dairy products application continues to be the major revenue generator for the market players.
- Application in bakery and confectionery is expected to grow at a noticeable CAGR through 2029.
- Demand from consumers via direct sales will remain high over the forecast period. On the other hand, indirect sales channel will continue to grow moderately.
- Europe will continue to offer most lucrative opportunities, whereas, APEJ is expected to gather pace.
Key Factors Driving Concentrated Milk Market Growth
- Concentrated milk fat provides flavor support, consistency, and better texture to the food product, owing to this it is witnessing high demand from end-use industries.
- The growth of the market is attributed to its increasing application in the food and beverage landscape, majorly due to its ease of storage & transportation and longer shelf-life.
- Concentrated milk fat is gaining traction due to its ability to withstand temperature sterilization, which is boosting its demand in the bakery and confectionery industry.
Key Restraint to Growth of Concentrated Milk Fat Market
Presence of saturated fats in the concentrated milk fat is likely to drop the growth of the market. Increased consumption of saturated fats can cause chronic and cardiovascular diseases.
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Competitive Landscape of Concentrated Milk Fat Market
The concentrated milk fat market is still at a nascent stage. Several existing and new companies are investing in concentrated milk fat products as the market is steadily expanding and returns are more profitable. Key players in the concentrated milk products are Grassland Dairy, Fonterra, Campina Original, Pine River Dairy, MCT Dairies, Darigold, Inc., Hoogwegt U.S., and JLS Foods.
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About the Report
This FMI report covers the ongoing industry trends and an extensive analysis on concentrated milk fat market growth at global, regional, and country levels. The report offers compelling insights based on nature (Organic and Conventional), application (Bakery & Confectionery, Dairy Products, Soups & Sauces, and Others), form (Dry and Liquid), and across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights