Newark, NJ, March 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global milk fat fractions market is expected to grow from USD 11.2 billion in 2018 to USD 23.6 billion by 2026 at a CAGR of 9.8% during the forecast period from 2019-2026.
The milk fat fractions market is growing at a rapid pace, owing to increasing demand for milk fat fractions globally. Shifting consumer preference for consumer products with growing awareness regarding ingredient content in food coupled with nutritional benefits are among major factors driving fractionated milk fat market growth.
Fractionated milk fat offers various nutritive advantages essential for human body growth & development due to which there is a substantial increment in its demand. It is broadly used in several bakery products due to nutritional benefits such as vitamins A, E and K2 vitamins associated along with the consumption of products. The process of milk fractionation is undertaken to produce several milk products that offer different solid fats’ content. The obtained fractions have highly different chemical and physical properties, which helps to manufacture different kinds of dairy products.
Global milk fat fractions market is expected to witness rapid growth over the forecast period, owing high demand for cakes, cookies, pastries, etc., particularly in developing nations. In addition, increasing adoption of milk fat fractions to make customized products and altering consumer preferences for flavored confectionery products further stimulates the demand. However, less product commercialization mainly in developing countries may obstruct the growth of the market. Nevertheless, several technological advancements related to the process of crystallization are also projected to help in producing improved products in terms of quality which is expected to boost the market in forthcoming years.
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Key players operating in the global milk fat fractions market include Wilmar International, Oleo, Royal VIV Buisman, Glanbia Ingredients, Fonterra Cooperative, FIT Company, Flechard, MCT Dairies, Friesland Campina, and Uelzena Ingredients among others. To enhance their market position in the global milk fat fractions market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership. Shifting focus of key vendors to develop the healthy product portfolio is further providing key opportunities in the market.
- For instance, in November 2018, Glanbia Plc, announced the acquisition of SlimFast business from KSF Holdings LLP (Kainos Capital) for USD 350 million to enhance the geographical expansion.
The dry fractionation segment is dominating the market with the highest market share of 47.90% in 2018
Technology segment is divided into segments such as supercritical fluid extraction, solvent fractionation, short-path distillation, and dry fractionation. The dry fractionation segment is dominating the market with the highest market share of 47.90% in 2018. The easy production process, high efficiency, and cost-effective properties are leading factors driving the dry fractionation or melt crystallization technology.
The medium melting fractions segment held the major market share and valued around USD 5.47 billion in 2018
The product segment includes high melting fractions, medium melting fractions, and low melting fractions. The medium melting fractions segment held the major market share and valued around USD 5.47 billion in 2018 owing to the growing demand for croissants and pastries with a flaky and crusty texture.
The solid form segment is dominating the market and valued around USD 6.85 billion in 2018
The form segment is classified into solid and liquid. The solid form segment is dominating the market and valued around USD 6.85 billion in 2018. Rising demand for spreads and chocolates as a potential ingredient will stimulate industry growth. Also, technological advancement in the crystallization process has enhanced the efficient stearin formation, separated from liquid or olein portions, further boosting the growth of solid form segment.
The bakery segment held the highest market share of 39.30% in 2018
The application segment includes cold spreadable butter, nutritional and nutraceuticals, bakery, confectionery, and others. The bakery segment held the highest market share of 39.30% in 2018. Increasing consumer preference for bakery products including cakes, butter cookies, biscuits, pastries and brownie due to changing lifestyles will support the industry growth.
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Regional Segment Analysis of the Milk Fat Fractions Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America held the largest market share of approximately 43.20% in 2018. The North America region is dominating the market due to presence of large number of food manufacturers along with ease in transportation and storage due to integrated logistic networks which will propel the industry demand. Wide availability of raw materials and growth of dairy industry has enhanced the product demand across the region. Asia Pacific is growing rapidly region due to increasing awareness of consumers and rising population with lactose intolerance, fuelling the demand for fractionated milk fat, which provide better lactose-free options. Moreover, adoption of western food habits, resulting in higher demand for cakes, pastries, and cookies in the Asia Pacific region, further propelling the growth of market. Furthermore, Europe is anticipated to hold the considerable market share in the global milk fat fractions market, owing to high adoption of milk fat fractions for various applications such as bakery, confectionery, and others.
About the report:
The global milk fat fractions market is analysed on the basis of value (USD Billion), volume (Kilo Tons), export (Kilo Tons), and import (Kilo Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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