Market Set to Hit its US$ 100 Mn Mark by 2028
Greater world’s population and consumption per capita requires a dramatic increase in food production with fewer natural resources. Dairy industry, in particular, is focusing on nutritious products that are diverse, culturally appropriate, affordable, and accepted by consumers. The result has led to increased demand for milk ingredients and products such as concentrated milk fat in recent times. Significant advancements in milking equipment and dairy processing equipment are also working in favor of the concentrated milk fat market, which is projected to cross a valuation worth US$ 100 Mn by 2028. However, the market is likely to face a set of challenges in 2020, as uncertainties are at the pinnacle of COVID-19 pandemic.
Concentrated Milk Fat Market – Key Research Findings
- The concentrated milk fat market is set to cross a valuation worth US$ 100 Mn by 2028.
- COVID-19 is expected to affect the annual growth forecast of 5% in 2020.
- While liquid concentrated milk fat accounts for greater sales, demand for their dry counterparts is expected to remain strong going forward.
- Europe remain in the vanguard with 1/3rd of the global market value
- Manufacturers are eyeing opportunities in Asia Pacific with India standing as the world’s largest milk producer.
- Strong sales of dairy products continue to influence growth strategies of manufacturers.
- Rapidly growing application in bakery & confectionery is expected to result in increased market share.
Key Factors Shaping Concentrated Milk Fat Market
Significant Growth of the Dairy Industry
The global dairy industry has been on a tear for years, with ever-increasing number of population and changing lifestyles. Robust advances in dairy processing equipment and technologies have brought numerous products to the marketplace, and concentrated milk fat is no exception. Highly influenced by increased shelf-life, product flexibility, convenience, easy storage, and low-cost transportation aspects, demand for concentrated milk fat continues to move on an upward swing.
High Application Potential in Bakery & Confectionery Industry
Concentrated milk fat and related dairy products are widely used as multi-functional ingredients in bakeries. As retail bakeries & confectioneries and in-store offerings are brimming with innovative ideas, the concentrated milk fat market is expected to witness robust growth in the future. Additionally, the recent outbreak of COVID-19 has been fueling the trend of at-home baking and food preparation, which in turn remains instrumental to the sales of concentrated milk fat.
Decline in Demand from Foodservice Sectors During the Pandemic
Despite an unprecedented spike in sales through retail stores, mass closures of restaurants and schools – the wholesale foodservice markets – is creating logistical and revenue nightmares for stakeholders in the concentrated milk fat market. With enforcement of social distancing requirements and stay-at-home orders, the foodservice sector is largely shutdown worldwide which will negatively impact the market growth in near future. With mass milk dumping on the horizon and halt in manufacturing and supply chain operations, COVID-19 is posing as a potential threat to the market.
Concentrated Milk Fat Market Structure Analysis
- The concentrated milk fat market shows a fair level of fragmentation.
- A number of startups and new entrants vying for a slice of this lucrative market continue to grow with each passing year.
- Manufacturers are leveraging unique strategies to maintain business continuity during the pandemic.
- M&A activities and product innovations remain key focus area of leading market players.
Base year considered
Actual estimates/Historical data
2014 – 2018
2019 – 2028
Market Value in 2019
US$ 68 Mn
Nature, Application, Form, Distribution Channel
North America, Latin America, Europe, APEJ, Japan, and MEA
Darigold, Inc., Grassland Dairy, Lactalis Ingredients, Pine River Dairy, MCT Dairies, Fonterra, Campina Original, Hoogwegt U.S., G&R Foods Inc., California Dairies, Inc., JLS Foods, and FIT
Liquid Concentrated Milk Fat Stays in Greater Demand
Liquid form of concentrated milk fat continues to witness higher sales and investments, owing to its versatility and ‘ease-of-use’ quotient. Accounting for nearly 3/5th of the total sales, manufacturers have been specifically focused in this category. However, relatively short shelf life and perishable nature of the product as compared to dry form is expected to boost demand for the latter in near future.
Concentrated Milk Fat Market - Regional Analysis
Europe remains at the forefront of the global concentrated milk fat market, accounting for 34% of the total revenue. Strong dairy industry and greater access to advanced technologies in the region are significantly contributing to the market growth. On the other hand, Asia Pacific is expected to offer greater opportunities for market players with the emergence of India as the world’s largest milk producer. However, in the current scenario, the dairy industry has been hit faster and harder by the COVID-19 disruptions, and the emergence of the U.S. and EU5 as worst-hit countries will have a negative impact on the market growth.
* This data is only a representation. Actual data may vary and will be available in report.
A Host of Disruptions During COVID-19 Pandemic
Despite strong demand for basic and essential foods such as dairy products amid the COVID-19 crisis, the milk supply chain is facing significant disruptions and the impact on the concentrated milk fat market has been evident. Halt in manufacturing and supply chain operations and inability to get produce to the market are compelling dairy farmers to dump their milk. This, in turn, will create a hindrance in production and supply of concentrated milk fat in the immediate future. Additionally, growing popularity of dairy alternatives and lactose free dairy products, in the view of mounting animal welfare concerns and rising lactose intolerance, will remain major roadblocks to the market growth.
Dairy products remain a key application area
Adoption in bakery & confectionery gains pace
Liquid form accounts for higher revenue share
Demand for dry form to increase significantly
Direct sales/B2B take the lead
Sales via B2C to see high growth
How Growth will Unfold
Growing popularity of a wide range of dairy products including dairy blends and fortified dairy products continues to widen the application scope of concentrated milk fat. Considering strong growth of the bakery & confectionery industry worldwide, on the account of experience-hungry millennials and Gen-Z becoming the generation with the biggest purchasing power, manufacturers are identifying and leveraging white spaces in the application of their products. However, a drop in demand from significant end users during the COVID-19 pandemic will affect the growth forecast of the market in 2020.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Concentrated Milk Fat Market: Global Industry Analysis 2014-2018 & Opportunity Assessment 2019-2028
A recent market study published by Future Market Insights on the concentrated milk fat market offers global industry analysis for 2014-2018 & opportunity assessment for 2019-2028. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters, the growth prospects of the market are obtained with maximum precision.
Concentrated Milk Fat Market Taxonomy
The global concentrated milk fat market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Bakery & Confectionery
- Dairy Products
- Soups & Sauces
- Direct Sales/ B2B
- Indirect Sales/ B2C
- North America
- Latin America
- Middle East & Africa
The executive summary of the concentrated milk fat market includes the market country analysis, demand-side and supply-side trends, opportunity assessment, and recommendations on the global concentrated milk fat market.
Readers can find the detailed segmentation and definition of the concentrated milk fat market in this chapter, which will help them understand basic information about the concentrated milk fat market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the concentrated milk fat market report.
The associated industry assessment of the concentrated milk fat market is carried out in this section. The macroeconomic factors affecting growth of the concentrated milk fat market are provided in this section and the impact of these macroeconomic indicators on the concentrated milk fat market is analyzed. The processing overview and technological advancements in the concentrated milk fat market is also provided.
Profit margins at each level of the concentrated milk fat market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the market.
The drivers and restraints impacting the growth of the concentrated milk fat market are explained in this chapter. Opportunities and ongoing trends in the concentrated milk fat market are also comprehensively discussed.
This chapter includes detailed analysis of the historical concentrated milk fat market (2014-2018), along with an opportunity analysis for the forecast period (2019-2028). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2019-2028). This chapter provides details about the concentrated milk fat market on the basis of different segments. In this chapter, readers can understand market attractive analysis for all segments. This chapter explains how the concentrated milk fat market is anticipated to grow across North America, Latin America, Europe, Asia Pacific Excluding Japan, Japan and the Middle East and Africa.
This chapter includes a detailed analysis of the growth of the concentrated milk fat market in the North America region, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on application and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the concentrated milk fat market in the Latin America region. This chapter also includes growth prospects of the concentrated milk fat market in leading LATAM countries such as Brazil, Mexico, Chile, Argentina, and the Rest of Latin America.
Important growth prospects of the concentrated milk fat market based on its end user in several countries such as Germany, U.K., Russia, France, Italy, and Rest of Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the concentrated milk fat market in East Asia region including the important growth prospects of the concentrated milk fat in several countries such as China, India, ASEAN, Australia & New Zealand, and Rest of APEJ are included in this chapter.
This chapter offers insights into how the concentrated milk fat market is expected to grow in Japan, along with different segments of the market during the forecast period of 2019–2028.
This chapter offers insights into how the concentrated milk fat market is expected to grow in major countries in the MEA region such as GCC Countries, South Africa, North Africa, and Rest of MEA, during the forecast period 2019-2028.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the concentrated milk fat market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the concentrated milk fat market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Darigold, Inc., Grassland Dairy, Lactalis Ingredients, Pine River Dairy, MCT Dairies, Fonterra, Campina Original, Hoogwegt U.S., G&R Foods Inc., California Dairies, Inc., JLS Foods among others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the concentrated milk fat report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the concentrated milk fat market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits