Yahoo Finance Powdered Fats Market Size is Surpassing USD 4.55 Billion by 2033, Growing at Projected 5.61% CAGR
The powdered fats market size is anticipated to grow from USD 2.64 Billion in 2023 to USD 4.55 Billion in 10 years. The worldwide powdered fats market is driven by range of applications across end-users such as bakery and confectionery, processed beverages, nutritional supplements, dairy and non-dairy products, etc.
Newark, June 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the powdered fats market will grow from USD 2.64 Billion in 2023 to USD 4.55 Billion by 2033. The market for powdered fats will develop in response to consumers' increasing desire to consume low-carb food products. Powdered fats are becoming increasingly popular because of their texture and clean-label profile.
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Key Insight of the Powdered Fats Market
The Asia-Pacific region will account for the largest market size during the forecast period.
The growing dairy alternatives industry will hold a significant market share in Asia-Pacific. The growing demand for bakery and confectionery products from concentrated flavours has led to the region's dominance in the powdered fats market. Asia Pacific's dominance in the worldwide powdered fats market is mostly due to the presence of prominent end-users. The manufacturers are developing a range of powdered fats that can be used in different foods and beverages.
The coconut segment is expected to augment the market during the forecast period.
The source segment is divided into coconut, sunflower, palm and palm kernel, corn, canola and others. The coconut segment is expected to augment the market during the forecast period. Powdered coconut oil is a superfood. Coconut oil's special blend of fatty acids may improve heart health, brain function, and fat loss, among other aspects of health. MCTs, a type of lipid that the body metabolizes differently than most other fats, are abundant in coconut oil powder.
The freeze-drying segment is expected to augment the market during the forecast period.
The processing technology segment is divided into freeze drying, spray drying, drum drying, and others. The freeze drying segment is expected to augment the market during the forecast period. Glass substrates produce different displays. Freeze drying, sometimes called cryodesiccation or lyophilization, is a method of freezing a substance and then vacuum-seating it to extract water. This results in sublimation, the direct transition of ice from a solid to a vapour. This process is distinct, unlike conventional dehydration techniques, which employ heat to evaporate water.
The dairy and non-dairy products segment is expected to augment the market during the forecast period.
The application segment is divided into bakery and confectionery, frozen desserts, dairy and non-dairy products, baby food and infant formula, seasonings and flavourings, beverages and others. The dairy and non-dairy products segment is expected to augment the market during the forecast period. Combining premium skimmed milk with vegetable fat and spray-drying the mixture yields fat-filled milk powder. The need for reasonably priced dairy products is still driven by customers in poor nations, who can turn to fattening milk powders to satisfy their cravings.
The B2C segment is expected to augment the market during the forecast period.
The sales channel segment is divided into B2B and B2C. The B2C segment is expected to augment the market during the forecast period. B2C is a business strategy in which a company sells goods directly to consumers, cutting out intermediaries, distributors, and independent shops. Businesses focusing on business-to-consumer sales typically aim to grab customers' attention and evoke a feeling through their advertising.
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Market Dynamics
Driver: Increasing demand for keto-friendly products
As the keto diet gains popularity, more health-conscious shoppers will look for labels bearing the keto brand across various channels, such as the internet, speciality shops, supermarkets, and convenience stores. Epilepsy in youngsters, polycystic ovarian syndrome, Alzheimer's illness, epilepsy, cancer, and even diabetes have all been successfully treated with ketogenic diets. An increasing number of producers fuel the market frenzy with keto diet goods that assist customers as they embark on their trips. As the keto diet gains popularity, many people confuse it with the comparatively low-carb paleo diet. An increasing number of producers fuel the market frenzy with keto diet goods that assist customers as they embark on their trips.
Restraint: Complexity in the manufacturing process
The manufacturing process of powdered fats is complex and time-consuming. The steps in producing powdered fat are liquifying fat, atomizing it into droplets, and placing it in a hot chamber to dry. The droplets evaporate moisture, creating fine powder particles. Afterwards, the particles are gathered and treated to the appropriate fat content and texture. Thus, the complexity of the manufacturing process is limiting the market's growth.
Opportunity: Increasing technological advancements
Dairy is an essential ingredient in most foods and is frequently found in packaged goods and food service items. It can be found as a primary ingredient or as an end product. Due to its intrinsic presence, dairy is a microcosm of the food industry, with advancements affecting the larger food sector significantly impacting customer tastes. Growing populations and shifting lifestyles are driving up demand for dairy products. As salaries rise and nations become more urbanized, people consume more calories from dairy products' proteins than simple carbs. Global dairy demand grows annually due to growing urbanization and greater income in emerging nations.
Challenges: Cost of manufacturing
The primary market constraint is the varying raw materials prices necessary to manufacture fatty alcohol. This affects the production of powdered fats and their price, which is determined by the needs of different market groups. It also impacts the fatty alcohol supply chain that goes to the required organization. Thus, the volatility of raw material prices challenges the market.
Some of the major players operating in the powdered fats market are:
• Royal FrieslandCampina N.V.
• Kerry Group plc
• Aarkay Food Products Ltd.
• Zeon Lifesciences Ltd
• Insta Foods
• Castle Dairy S.A
• Hill Natural Extract
• LUS Health Ingredients BV
• Tiba Starch & Glucose Manufacturing Co. S.A.E
Key Segments Cover in the Market:
By Source:
• Coconut
• Sunflower
• Palm and Palm Kernel
• Corn
• Canola
• Others
By Processing Technology:
• Freeze Drying
• Spray Drying
• Drum Drying
• Others
By Application:
• Bakery and Confectionery
• Frozen Desserts
• Dairy and Non-Dairy Products
• Baby Food and Infant Formula
• Seasonings and Flavourings
• Beverages
• Others
By Sales Channel:
• B2B
• B2C
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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