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According to The Business Research Company’s research on the concentrated milk fat market, rising demand for long-shelf-life products is expected to drive the concentrated milk fat market going forward. The shelf-life refers to the length of time in which any product is safe and suitable for use. The concentrated milk fat possesses a longer shelf life due to low water activity in the product, and it can be stored at room temperature for several months, thereby promoting its use in manufacturing bakery and confectionery products. For instance, in June 2020, Truebell, a UAE-based fast-moving consumer goods firm, reported a 300% increase in demand for long-shelf-life products. Therefore, rising demand for long-shelf-life products will promote the growth of the concentrated milk fat market.
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The global concentrated milk fat market size is expected to grow from $3.81 billion in 2021 to $4.29 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The concentrated milk fat market share is expected to reach $6.30 billion in 2026 at a CAGR of 10.1%.
The strong growth of the dairy industry is contributing significantly to the growth of the concentrated milk fat market going forward. The dairy industry comprises the production of milk on dairy farms and the processing of milk and milk products at dairy plants. Concentrated milk fat is extensively used in the dairy industry to manufacture cheese, ice cream, and dairy creams, thereby fueling the market's growth. For instance, according to an article published in Business Standard, an Indian daily edition newspaper, the Indian dairy industry will grow by 9–11% during 2021–22. Also, according to Invest India, an India-based investment promotion and facilitation agency, the dairy industry in India is expected to reach $355 billion by 2025. Therefore, the strong growth of the dairy industry is driving the growth of the concentrated milk fat market.
Major players in the concentrated milk fat market are Darigold Inc, Grassland Dairy Products Inc, Lactalis Ingredients, FrieslandCampina Professional, California Dairies, Fonterra Co-operative Group, Hoogwegt US Inc, FIT Company, JLS Foods, G&R Foods Inc, Fista Group, CP Ingredients Ltd, Provilac, DANA Dairy Group LTD, Keynote Dairy Corp. Ltd, and Anand Milk Union Limited (AMUL).
The global concentrated milk fat market segmentation is categorized by product into organic, conventional; by application into bakery and confectionery, dairy products, nutraceuticals, other applications; by distribution channel into online store, offline store.
North America was the largest region in the concentrated milk fat market in 2021. Asia-Pacific is expected to be the fastest-growing region in the concentrated milk fat market during the forecast period. The regions covered in the concentrated milk fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Concentrated Milk Fat Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide concentrated milk fat market forecast size and growth, concentrated milk fat market segments, concentrated milk fat market trends, concentrated milk fat market drivers and restraints, concentrated milk fat market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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