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New Zealand 08.12.2023

Global buttermilk powder market projected to reach $3.02 billion by 2024, fuelled by rising health awareness

Source: The DairyNews
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The global Buttermilk Powder Market is poised to hit a valuation of $3.02 billion by 2024, with a projected compound annual growth rate (CAGR) of 6.3% from 2024 to 2034, according to a recent report by Fact.MR.
The surge in demand is attributed to growing health-consciousness, as consumers recognize the health benefits of buttermilk powder. Its versatility in imparting creamy textures and ensuring even flavor distribution in various food products adds to its popularity. The report emphasizes key segments, highlighting benefits such as improved oral and bone health.

Organic buttermilk powder is expected to witness a surge in consumption across animal feed and food & beverage industries, positioning itself as a viable substitute for skimmed milk powder.

The forecast indicates a $5.57 billion sales projection for buttermilk powder by the end of 2034, expanding at a 6.3% CAGR. East Asia, notably China, is expected to hold a prominent 25.2% share of the global market revenue by 2034, with sales in Japan predicted to reach $231.6 million.

The industrial segment is projected to account for a significant 36.6% share of the global market by 2034. Leading manufacturers in the market include Hoogwegt Group, Fonterra Co-operative Group Limited, and Lactalis Ingredients. Spray-dried buttermilk powder is set to dominate with a 50.5% market share by 2034, driven by its superior solubility and ease of reconstitution for various food applications.
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