The fat-filled milk powder market is anticipated to be worth US$ 5 billion in 2023 and US$ 8.8 billion in 2033. According to estimates, the fat-filled milk powder market will expand at a constant CAGR of 6%.
The growing need for reasonably priced dairy alternatives of the grade of full-cream milk powder is driving the market for milk powder with added fat. The manufacturing of fat-filled milk powders uses vegetable oils, making them a workable replacement. The main market drivers are commercial-scale dairy product manufacturers that utilise the powders to create curd and yoghurt, but consumer demand for probiotic dairy products also drives market growth.
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However, as consumers look for low-fat or fat-free substitutes to fend off diseases like obesity and diabetes, their growing knowledge of the harmful health impacts of consuming too much fat from dairy products is serving as a major market growth inhibitor. The market for fat-filled milk powder is also being hampered by the growing acceptance of plant-based dairy substitutes. As a result, producers must adjust to shifting consumer trends and tastes and concentrate on creating new, wholesome, and sustainable products that satisfy consumers’ needs.
According to the Agriculture and Horticulture Department Board (AHDB), UK, Europe is one of the world’s top producers of instant fat-filled milk powder, and the region is anticipated to experience significant growth as a result of the rising export of this product to other regions. The demand for fortified, fat-filled milk powders in the area is being fueled by the growing trend of dairy products that are health-conscious. On the other hand, to meet the rising demand, producers of fat-filled milk powder are diversifying their product lines to include fat-filled milk powders.
On the other hand, Asia Pacific is anticipated to rise significantly due to the high need for a cheap substitute for whole milk powder. The region’s booming food and beverage business is to blame for the market’s expansion. The market in Asia Pacific is expanding as a result of the rising need for reasonably priced milk powders used to make goods for the bread industry such cheese, yoghurt, and creams.
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Key Takeaways
- The demand for affordable dairy-based ingredients enriched with vitamins and minerals is on the rise.
- Fat-filled milk powder is a suitable alternative to creamy powder and is expected to see significant growth in demand.
- The versatility of fat-filled milk powder makes it an attractive ingredient for a wide range of products in the dairy and bakery industry.
- The growing trend towards health-consciousness is driving the demand for fat-filled milk powder in dairy products such as yogurt.
- Fat-filled milk powder manufacturers are investing in the market and focusing on developing high-protein, nutritional products to meet consumer demand.
- Fat-filled milk powder provides a cost-effective solution without compromising on overall quality.
- The rise in demand for bakery and confectionery products containing protein and vitamins is expected to increase the consumption of instant fat-filled milk powder.
Competitive Landscape
The competitive landscape in the fat-filled milk powder market is constantly evolving, with established players and startups alike competing for a larger share of the market. With increasing consumer demand for affordable and healthy dairy-based ingredients, there is a growing trend towards innovation and sustainability in the food industry. This has led to a proliferation of startups leveraging technology and innovation to develop niche products and differentiate themselves from established players. Vegetable fat-filled milk powder has also grown in popularity.
This trend towards innovation and competition is expected to drive increased product differentiation and pricing pressure and ultimately benefit consumers by providing a wider range of affordable and high-quality dairy-based ingredients. As a result, established players must continue to invest in research and development and stay ahead of the curve by adapting to changing consumer trends and preferences. Meanwhile, startups must continue to develop innovative products and utilize technology to create a unique value proposition that resonates with consumers.
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Key Segments
By Product Type:
- Fat Filled Milk Powder 26%
- Instant Fat Filled Milk Powder 26%
- Fat Filled Milk Powder 28%
- Instant Fat Filled Milk Powder 28%
By Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Department Stores
- Specialty Stores
- Online
By End Use:
- Dairy Products
- Bakery Products
- Confectionaries
- Ice Cream
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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