What Does the Historical and Current Concentrated Milk Fat Market Size Trend Indicate?
The concentrated milk fat market has seen considerable growth due to a variety of factors.
• The market size for concentrated milk fat has seen notable expansion in recent years. Its growth is projected to increase from $5.31 billion in 2024 to $5.89 billion in 2025 marking a compound annual growth rate (CAGR) of 10.9%.
The historical growth period is credited to factors such as demand from the dairy industry, the need in food processing and baking, its usage in confectionery and chocolate production, enhancement of flavors, and boost in international trade and exports.
How Will the Concentrated Milk Fat Market Size Evolve over the Forecast Period?
The concentrated milk fat market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the market size for concentrated milk fat is predicted to experience a swift expansion. It is expected to reach $8.92 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 10.9%.
The growth during the forecast period can be linked to an increase in health-conscious alternatives, customized fat blends, clean label and natural ingredients, and plant-based substitutes. Key trends that will mark the forecast period are innovations in bakery and confectionery, plant-based substitutes, sustainable sourcing and production strategies, global trade and export, and customization offerings for the foodservice sector.
Which Factors Are Boosting Growth In The Concentrated Milk Fat Market?
The concentrated milk fat market's progression is largely due to the robust expansion of the dairy industry. This industry encompasses milk production on farms and its subsequent processing into various products at dairy plants. Utilization of concentrated milk fat in manufacturing cheese, ice cream, and dairy creams is prevalent in this industry, driving growth in the market. Reports from the US-based Foreign Agricultural Service revealed that by November 2023, milk consumption for factory use is expected to increase to 5.847 MMT compared to the projected 5.817 MMT in 2023. Additionally, cheese production is projected to hit a new record with an anticipated production of 445,000 metric tons in 2024, marking a 28% increase from 2023. Consequently, the development of the dairy sector is fostering the growth of the concentrated milk fat market.
What Key Areas Define The Segmentation Of The Global Concentrated Milk Fat Market?
The concentrated milk fat market covered in this report is segmented –
1) By Product: Organic, Conventional
2) By Application: Bakery And Confectionery, Dairy Products, Nutraceuticals, Other Applications
3) By Distribution Channel: Online Store, Offline Store
Subsegments:
1) By Organic: Organic Butterfat, Organic Cream
2) By Conventional: Conventional Butterfat, Conventional Cream
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How Are Emerging Trends Reshaping The Dynamics Of The Concentrated Milk Fat Market?
The expansion of the food and beverage sector is anticipated to fuel the development of the focused milk fat market in the future. The food and beverage sector entails all the operations linked to the creation, processing, distribution, and selling of beverage and food products. This includes everything from agricultural activities, food processing, to restaurants and beverage production. Concentrated milk products, like condensed and evaporated milk, are used by this industry to enhance the thickness and taste of various products, such as desserts and sauces. This also helps in increasing their shelf life due to decreased water content. For example, USA Today, a news broadcaster based in the US, reported in August 2023 that the restaurant industry in the U.S. accumulated sales of $898 billion in 2022, a jump of $166.5 billion from 2021. Consequently, the growth of the food and beverage industry is contributing to the increase of the concentrated milk fat market.
Who Are the Key Players in the Concentrated Milk Fat Market?
Major companies operating in the concentrated milk fat market include:
• Darigold Inc.
• Grassland Dairy Products Inc.
• Lactalis Ingredients
• FrieslandCampina Professional NV
• California Dairies Inc.
• Fonterra Co-operative Group
• Hoogwegt US Inc.
• CP Ingredients Ltd.
• Provilac Dairy Farms Private Limited
• DANA Dairy Group Ltd.
• Keynote Dairy Corp. Ltd.
• Anand Milk Union Limited
• Koninklijke FrieslandCampina N.V.
• Pine River Dairy Inc.
• MCT Dairies Inc.
• Prolac Pvt. Ltd.
• Galloway Company
• Agropur Cooperative
• Dairy Farmers of America
• Glanbia plc
• Arla Foods amba
• Royal FrieslandCampina N.V.
• Euroserum SAS
• Milk Specialties Global Co.
• Westland Co-Operative Dairy Company Ltd.
• Tatura Milk Industries Ltd.
• Synlait Milk Limited
• Tatua Co-operative Dairy Company Limited
• Meggle AG
• Batory Foods Inc.
• Carbery Group Ltd.
• Milkfat Products Company
• Uelzena eG
• Milkio Foods Limited
What Is The Most Dominant Region In The Concentrated Milk Fat Market?
North America was the largest region in the concentrated milk fat market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concentrated milk fat market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
