Anhydrous Milk Fat Market to Witness Massive Growth by 2031
The Anhydrous Milk Fat Market size was valued at $3 billion in 2021, and is estimated to reach $6 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031. Butter or 35%–45% cream, depending on the time of year, can be used to make anhydrous milk fat. Almost all the water and non-fat solids are eliminated throughout the production process using centrifuges. Since less water is present as a result, the product is simpler to preserve and store.
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Key Players Are:
The major players analyzed for the global anhydrous milk fat industry are Royal FrieslandCampina N.V., Asha Ram & Sons Pvt. Ltd, Lactalis Group, Interfood Holding BV, Vitusa Corp, Royal VIVBuisman, Polmlek Group, Gloria Argentina SA, United Global Agencies, and Eurial Ingredients & Nutrition.
Key Findings of the Study
By nature, the conventional segment was the highest revenue contributor to the market, and is estimated to grow with a CAGR of 7.0%.
By application, the dairy segment was the highest revenue contributor to the market, in 2021, and is estimated to grow with a CAGR of 6.8%.
Depending on the distribution channel, the offline segment was the highest revenue contributor to the market in 2021, and is estimated to grow with a CAGR of 7.0%.
RegioRegion-wisea-Pacific was the highest revenue contributor and is estimated to grow with a CAGR of 6.7%.
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The region that dominated the global anhydrous milk fat industry in 2021 was Asia-Pacific, and this dominance is anticipated to continue throughout the forecast period. The rise in consumption of dairy products, particularly in China and India, can be related to consumers' shifting food preferences and rise in disposable income levels.
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