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 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 is expected to reach $6.30 billion in 2026 at a CAGR of 10.1%.
The concentrated milk fat market consists of sales of concentrated milk fat by entities (organizations, sole traders, and partnerships) that are used as a food additive in bakery and confectionery products.The concentrated milk fat is prepared by removing water and non-fat matter from the milk using various physical processes.
Due to the low water content in concentrated milk fat, it can be stored at room temperature for a long time, resulting in a long shelf life, easy transportation, and bulk storage.
The main types of products in concentrated milk fat are organic and conventional.Organic products are produced without the use of chemicals and involve the use of only natural products.
Organic milk products contain more nutrients as well as healthier omega-3 fatty acids and disease-fighting antioxidants than non-organic milk products. The various applications include bakery and confectionery, dairy products, nutraceuticals, and others and are distributed through several channels such as online stores and offline stores.
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 forecast period.
The regions covered in the concentrated milk fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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.
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.
In March 2021, Darigold, a US-based company that manufactures dairy and agricultural products, partnered with Girl Scout councils.This partnership aimed to expand the existing relationship between Darigold and Girl Scouts to raise funds specifically for financial assistance for Girl Scouts.
Darigold donates a portion of sales from every carton or bottle of Darigold extended shelf-life milk sold at participating retailers to the partnering Girl Scout councils. Girl Scouts is a US-based leadership development organization for girls.
The countries covered in the concentrated milk fat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The concentrated milk fat market research report is one of a series of new reports that provides concentrated milk fat market statistics, including global market size, regional shares, competitors with a concentrated milk fat market share, detailed concentrated milk fat market segments, market trends and opportunities, and any further data you may need to thrive in the concentrated milk fat industry. This concentrated milk fat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.