Global Concentrated Milk Fat Market Size To Exceed USD 5.73 Billion By 2032
Source: The DairyNews
The Global Concentrated Milk Market Size is to Grow from USD 3.25 Billion in 2022 to USD 5.73 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.83% during the projected period.
Concentrated milk fat derived from cow's milk, is widely used in a variety of applications related to food and beverages. Concentrated milk fat is the process of removing water and solids from milk to obtain a higher milk fat concentration. This process involves a variety of approaches such as centrifugal force separation, and evaporation. It is a key ingredient in the manufacturing of dairy products, chocolates, ice creams, and bakery goods due to its rich flavour and texture-enhancing properties.
Furthermore, demand for concentrated milk fat has increased due to the growing food and beverage industry, which is being driven by changing consumer tastes and urbanisation. Food manufacturers are constantly on the lookout for versatile and high-quality ingredients to meet the diverse demands of consumers. Furthermore, by developing value-added concentrated milk fat products, manufacturers can explore product innovation opportunities.
Flavoured variants, speciality formulations, and customised solutions tailored to meet the specific requirements of different uses are examples of this. However, the growing public awareness of the negative health consequences of consuming too much fat from dairy products is a significant impediment to market growth. Consumption of fat-free or low-fat food products to prevent health conditions such as obesity, diabetes, and cardiovascular disease is becoming more popular worldwide. The growing demand for low-fat dairy products is limiting the market for concentrated milk fat.
COVID 19 Impact
Consumer behaviour changes, such as increased home cooking and baking, influenced demand for a variety of food ingredients, including concentrated milk fat. Demand for bakery and confectionery products, which frequently contain concentrated milk fat, fluctuated. As a result, the reduced number of COVID-19 cases and subsequent strategies implemented by government and non-government organisations will shape market dynamics.
Furthermore, demand for concentrated milk fat has increased due to the growing food and beverage industry, which is being driven by changing consumer tastes and urbanisation. Food manufacturers are constantly on the lookout for versatile and high-quality ingredients to meet the diverse demands of consumers. Furthermore, by developing value-added concentrated milk fat products, manufacturers can explore product innovation opportunities.
Flavoured variants, speciality formulations, and customised solutions tailored to meet the specific requirements of different uses are examples of this. However, the growing public awareness of the negative health consequences of consuming too much fat from dairy products is a significant impediment to market growth. Consumption of fat-free or low-fat food products to prevent health conditions such as obesity, diabetes, and cardiovascular disease is becoming more popular worldwide. The growing demand for low-fat dairy products is limiting the market for concentrated milk fat.
COVID 19 Impact
Consumer behaviour changes, such as increased home cooking and baking, influenced demand for a variety of food ingredients, including concentrated milk fat. Demand for bakery and confectionery products, which frequently contain concentrated milk fat, fluctuated. As a result, the reduced number of COVID-19 cases and subsequent strategies implemented by government and non-government organisations will shape market dynamics.
