Over 2 million tons of fat filled milk powder was consumed globally, by 2018 end. As analyzed by Future Market Insights’ new intelligence report, the consumption volume will increase by 5.1% in 2019. While demand from dairy industry will remain pervasive, FMI envisages a prominent boost to demand growth from bakery, confectionary, and ice cream segments in the near future.
Economic price point compared to whole milk powder and butterfat has been a prominent factor accounting for growing popularity of fat filled milk powder among multiple sectors of the food and beverages industry. Increasing consumer preference for value-added food ingredients is translating into billowing sales of products such as fat filled milk powder. Moreover, favorable trade scenario is extending strong support to progressing sales of fat filled milk powder.
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Dairy Products Register Highest Consumption, Ice Cream Most Lucrative
While dairy products continue to account for more than 30% of the total volume of fat filled milk powder consumed by 2018, ice cream also registers a significant share of around 1/4th of the total sale of fat filled milk powder. FMI opines that bakery and confectionary are emerging as high-potential segments in the years to come, representing a sizeable collective share in the fat filled milk powder market.
The report forecasts a dominant share for fat filled milk powder 28%, followed by fat filled milk powder 26%. Attributed to the highest vegetable fat and protein profile, the former will continue to reign supreme over others in fat filled milk powder market. Variants of instant fat filled milk powder are the relatively low shareholders in fat filled milk powder market. However, instant fat filled milk powder 26% and 28% will gradually gather traction in the years to come – reflecting healthy annual growth rates in 2019 – according to FMI’s analysis.
Almost 40% sales of fat filled milk powder is clustered at supermarkets and hypermarkets, as depicted by the report. While convenience stores have also been among the key sales channels for fat filled milk powder, FMI foresees promising opportunities residing in the thriving Ecommerce sector. Departmental store sales on the other side are witnessing a healthy upsurge in recent years. FMI anticipates global fat filled milk powder market to benefit from the improving penetration into organized retail sector, rather than within independent retail outlets. Moreover, modern trade formats are more likely to assist revenue growth of the fat filled milk powder market in coming years.
Europe & North America Capture a Combined Share of over 40%
The largest manufacturers and exporter region of fat filled milk powder, Europe will retain the top ranking consumer market position. The region will collectively account for over 44% share in the total market value, with North America. Whereas, the demand for fat filled milk powder will gain more prominence across South Asian region, according to the report. Sustained popularity of dairy products and a growing trend of consuming dairy beverages with vegetable protein and fat content. Fat filled milk powder manufacturers in South Asian market are likely to encounter untapped windows of opportunities in multiple dairy product categories such as cheese, yogurt, and fresh fermented products. Companies are thus also focusing on expansion of their culture manufacturing capacities.
The report has tracked strategic profiles of some of the leading players operating in fat filled milk powder landscape. Moreover, the report has anticipated a 5.4% volume CAGR for the market during 2018-2028.