Selbyville, Delaware, May 03, 2022 (GLOBE NEWSWIRE) -- According to the research report by Global Market Insights Inc., the Milk Fat Fractions Market was estimated at USD 12 billion in 2021 and is expected to reach around USD 18.4 billion in revenue by 2028, progressing at a CAGR of 6% from 2022 to 2028. The report gives a comprehensive assessment of top winning strategies, drivers & opportunities, market size & estimations, the competitive scenario, wavering market trends, and major investment pockets.
Milk fat fractions possess several properties and can be used for a wide range of applications. Rising prevalence of dairy allergies & lactose intolerance, along with surging consumption of nutritional and nutraceuticals products, is driving product demand. In addition, increasing incidences of diseases like diabetes, obesity, and cancer are likely to further drive market growth over the forecast period.
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High melting fractions (HMFs) are widely utilized in numerous bakery & confectionary products. They are mainly used in candies, chocolates, and other confectionary food items. In the bakery industry, HMFs are used in the processing of puff pastries during the folding and rolling of dough for layering of pastries. Owing to these factors, the high melting fractions (HMF) product segment, which was valued at about USD 4.0 billion in 2021, is set to record significant progress through 2028.
Meanwhile, in 2021, the low melting fractions (LMF) segment registered a valuation of more than USD 2.9 billion and is likely to be the prominent product category in the milk fat fractions market by 2028, growing at approximately 6% CAGR over the review timeline. Prevalent utilization of LMFs in various end-use applications, such as cold spreadable butter, dairy powder, and confectionery products, among others, is slated to bolster product demand in the coming years.
Key reasons for milk fat fractions market growth:
- Growing usage in bakery & confectionary products.
- Rising utilization nutritional & nutraceuticals items.
- Increasing product application in dairy products.
2028 forecasts show ‘dry fractionation’ segment retaining its dominance:
In the technological landscape, the dry fractionation segment accounted for a substantial market share of about 45% in 2021 and is projected to observe robust expansion over 2022-2028. Soaring adoption of the technology on commercial scale on account of its low cost is anticipated to boost segmental growth over the study timespan.
North America to maintain top status in terms of revenue:
On the regional spectrum, North America is one of the largest regions in the milk fat fractions market and is estimated to witness notable revenue growth to surpass USD 4.0 billion valuation by 2028. Abundance of raw materials and the expanding dairy industry are propelling product demand in the region. Increasing presence of food manufacturers, along with access to easy storage & transportation facilities due to integrated networks, is speculated to augment regional market development in the future.
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Impact of COVID-19 pandemic on milk fat fractions market:
Following the COVID-19 outbreak, there was an upsurge in consumption of comfort foods, including bakery & confectionary products. Additionally, high consumer inclination towards at-home baking owing to stringent lockdown restrictions imposed worldwide, coupled with rising awareness pertaining to benefits of milk fat fractions, further fueled product uptake. As a result, escalating consumer interest in these products has stimulated product adoption considerably, thereby fostering market outlook during the pandemic.
Leading market players:
Major companies functioning in the global milk fat fractions industry include Friesland Campina, Glanbia Ingredients, Flechard S.A., Royal VIV Buisman, Uelzena Ingredients, Wilmar International, MCT Dairies, Oleo, FIT Company, Fonterra Cooperative Group, and others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
