Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Concentrated Milk Fat Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
As the global demand for dairy products with an extended shelf life continues to rise, the concentrated milk fat market is experiencing substantial growth. A new market research report has been released, offering in-depth analysis and forecasting on this burgeoning industry.
This report provides valuable insights, including market size, competitor shares, and detailed segment analysis, to stakeholders and industry participants. It is crucial for businesses aiming to strengthen their market position and capitalize on emerging trends. With a focus on the future scenario of the industry, the report presents a complete perspective on the concentrated milk fat market.
Highlighted within the report are key drivers influencing market growth. The robust dairy industry, with its extensive reliance on concentrated milk fat for product manufacturing, stands as a significant contributor to the market's expansion. Diverse applications of concentrated milk fat in bakery and confectionery items, its role in enhancing food flavors, and the rise in international trade are also outlined as vital factors propelling market growth.
Key Findings of the Report:
- Current market growth from $4.79 billion in 2023 to $5.31 billion in 2024, at a CAGR of 10.9%.
- Projections of market expansion up to $8.04 billion by 2028, maintaining a steady CAGR of 10.9%.
- Organic concentrated milk fat's popularity, driven by consumer demand for natural and health-conscious alternatives.
- Emerging trends including innovations in bakery and confectionery, sustainable sourcing, and the introduction of plant-based alternatives.
The rise of the health-conscious consumer and the increasing demand for long-shelf-life products are other trends substantiating the concentrated milk fat market growth. Low water activity in concentrated milk fat, which allows for extended storage at room temperature, is especially beneficial for bakery and confectionery industries, wherein these ingredients are heavily utilized.
The report identifies significant growth in specific geographic regions, with North America being the largest market as of 2023, and Asia-Pacific predicted to be the fastest-growing region during the forecast period. Furthermore, the findings acknowledge the influence of shifting consumer preferences and the expansion of the food and beverage industry in fueling market growth.
In addressing industry competition, the report notes that major companies in the market are focusing on innovative product production, including protein concentrates manufacturing. The role of key players and strategic partnerships in the industry are exemplified by impactful initiatives supporting community involvement and corporate social responsibility.
A selection of companies mentioned in this report includes
- Darigold Inc.
- Grassland Dairy Products Inc.
- Lactalis Ingredients
- FrieslandCampina Professional NV
- California Dairies Inc.
- Fonterra Co-operative Group
- Hoogwegt US Inc.
- FIT Company
- JLS Foods Inc.
- G&R Foods Inc.
- Fista Group
- CP Ingredients Ltd.
- Provilac Dairy Farms Private Limited
- DANA Dairy Group Ltd.
- Keynote Dairy Corp. Ltd.
- Anand Milk Union Limited
- Koninklijke FrieslandCampina N.V.
- Pine River Dairy Inc.
- MCT Dairies Inc.
- Prolac Pvt. Ltd.
- Galloway Company
- Agropur Cooperative
- Dairy Farmers of America
- Glanbia plc
- Arla Foods amba
- Royal FrieslandCampina N.V.
- Euroserum SAS
- Milk Specialties Global Co.
- Westland Co-Operative Dairy Company Ltd.
- Murray Goulburn Co-operative Co. Limited
- Tatura Milk Industries Ltd.
- Synlait Milk Limited
- Tatua Co-operative Dairy Company Limited
- Meggle AG
- Batory Foods Inc.
- Carbery Group Ltd.
- Milkfat Products Company
- Uelzena eG
- Milkio Foods Limited
For more information about this report visit https://www.researchandmarkets.com/r/79h99k
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
