This has increased the possible uses for anhydrous milk fat and will probably promote market expansion in the future.

PORTLAND, OR, US, March 29, 2023 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Anhydrous Milk Fat Market by Nature (Organic, Conventional), by Application (Dairy, Bakery, Confectionary, Others), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global anhydrous milk fat industry generated $3.0 billion in 2021 and is estimated to generate $6.0 billion by 2031, witnessing a CAGR of 7.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Rise in disposable income of people, surge in expenditure on high-quality food products, expansion of food and beverage industry, growth in consumer preference for western cuisine, rise in investments in the dairy sector drive the global anhydrous milk fat market. On the other hand, high percentage of saturated fatty acids & cholesterol, and high cost of anhydrous milk fat in comparison to vegetable fats hinder the market growth. However, technological advancements in production methods and container designs will present new growth opportunities for the global anhydrous milk fat market in the coming years.

Regional Analysis:

Asia Pacific to achieve the largest revenue by 2031

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly two-fifths of the global anhydrous milk fat market and is likely to maintain its dominance during the forecast timeframe. This is because manufacturers of anhydrous milk fat have a lot of potential opportunities in the region. Anhydrous milk fat products from New Zealand are increasingly being exported to China and Australia, which is changing the market. However, the market in Europe is projected to witness a fastest CAGR of 7.9% from 2022 to 2031. This is due to the rising demand for clean label and sustainable milk and dairy products.

Major Key Companies:

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.

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By application, the market is divided into the dairy, bakery, confectionery, and others. The dairy segment is expected to grow at a moderate rate during the forecast period. Along with bread and confectionery, dairy is the market's dominant application segment for anhydrous milk fat. In the dairy sector, anhydrous milk fat is widely used in the production of reconstituted milk and other dairy products such as whole milk, cheese, spreads, and ice cream.

Key Benefits of the Report:

-> 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%.
-> Region-wise-a-Pacific was the highest revenue contributor and is estimated to grow with a CAGR of 6.7%.

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By distribution channel, it is classified into online and offline. The offline segment is further fragmented into supermarkets/hypermarkets, specialty stores, convenience stores, and others. The online segment is anticipated to grow at the highest CAGR during the forecast period. Owing to the large availability of products and the provision of free home delivery, the online sales channel is one of the most advantageous distribution channels. The segment's expansion is also being fueled by the increased use of the internet in both developed and emerging countries.

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