Powdered Fats Market
Powdered Fats Market Forecasts to 2030 - Global Analysis By Product Type (Butter Powder, Coconut Milk Powder, Palm Oil Powder and Other Product Types), Source (Palm & Palm Kernel, Coconut, Milk, Sunflower, Canola, Corn and Other Sources), Processing Technology, Distribution Channel, Application and by Geography
Years Covered |
2021-2030 |
Estimated Year Value (2023) |
US $2.37 BN |
Projected Year Value (2030) |
US $3.67 BN |
CAGR (2023 - 2030) |
6.4% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
Latin America |
According to Stratistics MRC, the Global Powdered Fats Market is accounted for $2.37 billion in 2023 and is expected to reach $3.67 billion by 2030 growing at a CAGR of 6.4% during the forecast period. Powdered fats are a widely used, convenient, and adaptable ingredient in the food industry. Powdered fats are finely ground into a dry, free-flowing form through agglomeration or spray-drying processes, which improves their handling and shelf stability. They are used to enhance texture, mouth feel, and flavour in a variety of food products, such as baked goods, instant drinks, soups, sauces, and desserts. Since powdered fats are less likely to oxidize than liquid fats, they are also better for storage and transportation. Moreover, they also give producers more authority over the caliber and consistency of their products.
According to the World Health Organization, vaccination remains one of the most effective ways to prevent the spread of infectious diseases and protect public health.
Market Dynamics:
Driver:
Increasing convenience food demand
The market for powdered fats is expanding significantly as a result of modern lifestyles driving an increasing demand for convenience foods. Powdered fats are essential for extending the shelf life and convenience of a variety of food products, such as instant soups, sauces, baked goods, and desserts, as consumers seek quick and simple meal solutions. Because of their resilience to extended storage times without sacrificing quality, manufacturers who meet the demands of time-pressed customers rely heavily on them. Furthermore, the growing popularity of consuming food while on the go is driving up demand for powdered fats because they make it easier to produce food that is ready to eat and portable, which is ideal for people who lead hectic lives.
Restraint:
Difficulties in creating clean labels
It can be difficult to formulate powdered fats with natural and minimally processed ingredients, even with the advances in clean-label solutions. Extensive research and development is often necessary to maintain functionality and stability while adhering to clean label standards, which raises production costs. Manufacturers access to and ability to afford clean-label powdered fats may also be impacted by the difficulty or expense of obtaining natural ingredients on a large scale. Additionally, one of the biggest obstacles to satisfying consumer demand for healthier and more transparent food options is maintaining a balance between clean label requirements and product performance.
Opportunity:
Environmental and sustainability initiatives
Manufacturers of powdered fats have opportunities to differentiate their products and connect with consumer values by embracing sustainability and environmental initiatives. Through the adoption of sustainable sourcing practices, carbon emission reduction, and eco-friendly manufacturing processes, companies can appeal to environmentally conscious consumers and improve their brand reputation. Furthermore, powdered fat-based products have a smaller environmental impact thanks to advancements in sustainable packaging, such as recyclable or compostable materials. The establishment of sustainability standards and certifications through cooperation with suppliers, industry partners, and regulatory bodies enhances the market position of powdered fats and promotes consumer trust and loyalty towards brands that uphold environmental responsibility.
Threat:
Regulatory and health issues
The market for powdered fats is seriously threatened by increased scrutiny of the health effects of dietary fats and by regulations meant to limit their consumption. Consumer aversion to powdered fats could be caused by negative perceptions of fats, especially saturated and trans fats, which would affect the demand and growth of the powdered fat market. Reformulation or more stringent compliance measures for powdered fat-based products may be required in response to regulatory actions, such as labeling requirements for trans fats or limits on saturated fat content in food products. Moreover, this would result in higher production costs and regulatory burdens for manufacturers.
Covid-19 Impact:
The market for powdered fats has seen mixed results from the COVID-19 pandemic. After the pandemic's early stages caused supply chain disruptions, lower consumer spending, and swings in the demand for non-essential food items, the market finally saw a move toward shelf-stable and convenient foods, including those that contained powdered fats. The market for powdered fats in food applications such as baking mixes, instant beverages, and ready-to-eat meals has increased as a result of consumers spending more time at home and looking for pantry staples that last. Additionally, the pandemic's emphasis on food safety and cleanliness increased consumer demand for processed and packaged foods, which in turn increased the use of powdered fats in these goods.
The Palm & Palm Kernel segment is expected to be the largest during the forecast period
It is projected that the palm and palm kernel oil segments will command the largest market share for powdered fats. Because of its many uses, such as solidifying at room temperature and having a neutral flavor profile, palm oil is frequently used in the manufacturing of powdered fats. Contributing to texture, mouth feel, and shelf stability in a broad range of food products, it is an essential component of several powdered fat formulations. Furthermore, to improve the functionality and nutritional profile of powdered fats, palm kernel oil, which is derived from the seeds of palm fruits, is frequently combined with palm oil. Palm and palm kernel oils are the go-to options for producers in the powdered fat market because of their abundance, affordability, and accessibility.
The Supplements & Nutritional Products segment is expected to have the highest CAGR during the forecast period
The segment for supplements and nutritional products in the powdered fat market has the highest CAGR. Because they can supply necessary fatty acids and enhance the texture and palatability of powdered formulations, powdered fats are widely used in the manufacturing of nutritional powders, meal replacements, and supplements. The market for functional food products and dietary supplements enhanced with powdered fats is expanding quickly as consumer awareness of health and wellness keeps rising. Moreover, powdered fats long shelf life and ease of use make them a good choice for nutritional products marketed to athletes, busy people, and consumers looking for nutrient-dense, convenient options.
Region with largest share:
Due to factors like population growth, rapid urbanization, shifting dietary habits, and rising consumer demand for convenience foods, the Asia-Pacific region currently holds the largest share in the powdered fats market. Because of their sizable populations and developing food processing sectors, nations like China, India, Indonesia, and Malaysia have made major contributions to the region's dominance. To satisfy the varied tastes and preferences of consumers, powdered fats are widely used in a variety of food products throughout Asia, the Americas, and the Pacific, such as bakery goods, confections, snacks, and instant beverages. Additionally, the region's middle-class population, growing economy, and rising disposable incomes all contribute to the growing demand for convenience and processed foods, which in turn propels the market for powdered fats.
Region with highest CAGR:
Latin America has the highest CAGR in the powdered fat market. A number of factors, such as growing urbanization, rising disposable incomes, and a shift in consumer preferences toward convenience foods, are driving market growth in this region. Powdered fat demand is being driven by significant growth in the consumption of convenience and processed food products in countries like Argentina, Brazil, Mexico, and Colombia. Furthermore, investments in food processing infrastructure and technology, along with the growing food and beverage industry, accelerate the growth of the Latin American food market. The region's abundant agricultural resources also contribute to market expansion by offering a consistent supply of raw materials for the production of powdered fat.
Key players in the market
Some of the key players in Powdered Fats market include Hill Natural Extract, Castle Dairy S.A, Insta Foods, Royal FrieslandCampina N.V, Tiba Starch & Glucose Manufacturing Co. S.A.E, Aarkay Food Products Ltd, Kerry Group plc, LUS Health Ingredients BV, Zeon Lifesciences Ltd and FrieslandCampina.
Key Developments:
In December 2023, Kerry acquires of lactose-free enzyme technology business. Taste and nutrition company Kerry Group Plc. has inked an agreement to acquire a portion of the global lactase enzyme business from Chr. Hansen Holding A/S and Novozymes A/S. This deal, contingent on European Commission approval, includes specific assets of Chr. Hansen's lactase enzyme business and full ownership of Nuocheng Trillion Food (Tianjin) Co. Ltd, a Chinese subsidiary of Novozymes.
In November 2023, FrieslandCampina has entered into an agreement for the issuance of privately placed notes, which would constitute long-term financing of 400 million euros and 100 million dollar (together 496 million euros equivalent). The ESG-linked notes will be issued in the US Private Placement (USPP) market. Final closing, issuance of the notes and funding is scheduled for 1 February 2024 and is subject to standard closing conditions. Once closed and funded, the proceeds will be used to repay maturing debts in 2024.
Product Types Covered:
• Butter Powder
• Coconut Milk Powder
• Palm Oil Powder
• Other Product Types
Sources Covered:
• Palm & Palm Kernel
• Coconut
• Milk
• Sunflower
• Canola
• Corn
• Other Sources
Processing Technologies Covered:
• Spray Drying
• Drum Drying
• Freeze Drying
• Other Processing Technologies
Distribution Channels Covered:
• Direct Sales
• Indirect Sales
Applications Covered:
• Dairy & Non-dairy Products
• Bakery & Confectionery
• Frozen Desserts
• Baby Food & Infant Formula
• Supplements & Nutritional Products
• Beverages
• Seasonings & Flavorings
• Sauces, Dressings, & Condiments
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Powdered Fats Market, By Product Type
5.1 Introduction
5.2 Butter Powder
5.3 Coconut Milk Powder
5.4 Palm Oil Powder
5.5 Other Product Types
6 Global Powdered Fats Market, By Source
6.1 Introduction
6.2 Palm & Palm Kernel
6.3 Coconut
6.4 Milk
6.5 Sunflower
6.6 Canola
6.7 Corn
6.8 Other Sources
7 Global Powdered Fats Market, By Processing Technology
7.1 Introduction
7.2 Spray Drying
7.3 Drum Drying
7.4 Freeze Drying
7.5 Other Processing Technologies
8 Global Powdered Fats Market, By Distribution Channel
8.1 Introduction
8.2 Direct Sales
8.3 Indirect Sales
8.3.1 Supermarkets/Hypermarkets
8.3.2 Convenience Stores
8.3.3 Online Retail
9 Global Powdered Fats Market, By Application
9.1 Introduction
9.2 Dairy & Non-dairy Products
9.3 Bakery & Confectionery
9.4 Frozen Desserts
9.5 Baby Food & Infant Formula
9.6 Supplements & Nutritional Products
9.7 Beverages
9.8 Seasonings & Flavorings
9.9 Sauces, Dressings, & Condiments
9.10 Other Applications
10 Global Powdered Fats Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Hill Natural Extract
12.2 Castle Dairy S.A
12.3 Insta Foods
12.4 Royal FrieslandCampina N.V
12.5 Tiba Starch & Glucose Manufacturing Co. S.A.E
12.6 Aarkay Food Products Ltd
12.7 Kerry Group plc
12.8 LUS Health Ingredients BV
12.9 Zeon Lifesciences Ltd
12.10 FrieslandCampina
List of Tables
1 Global Powdered Fats Market Outlook, By Region (2021-2030) ($MN)
2 Global Powdered Fats Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Powdered Fats Market Outlook, By Butter Powder (2021-2030) ($MN)
4 Global Powdered Fats Market Outlook, By Coconut Milk Powder (2021-2030) ($MN)
5 Global Powdered Fats Market Outlook, By Palm Oil Powder (2021-2030) ($MN)
6 Global Powdered Fats Market Outlook, By Other Product Types (2021-2030) ($MN)
7 Global Powdered Fats Market Outlook, By Source (2021-2030) ($MN)
8 Global Powdered Fats Market Outlook, By Palm & Palm Kernel (2021-2030) ($MN)
9 Global Powdered Fats Market Outlook, By Coconut (2021-2030) ($MN)
10 Global Powdered Fats Market Outlook, By Milk (2021-2030) ($MN)
11 Global Powdered Fats Market Outlook, By Sunflower (2021-2030) ($MN)
12 Global Powdered Fats Market Outlook, By Canola (2021-2030) ($MN)
13 Global Powdered Fats Market Outlook, By Corn (2021-2030) ($MN)
14 Global Powdered Fats Market Outlook, By Other Sources (2021-2030) ($MN)
15 Global Powdered Fats Market Outlook, By Processing Technology (2021-2030) ($MN)
16 Global Powdered Fats Market Outlook, By Spray Drying (2021-2030) ($MN)
17 Global Powdered Fats Market Outlook, By Drum Drying (2021-2030) ($MN)
18 Global Powdered Fats Market Outlook, By Freeze Drying (2021-2030) ($MN)
19 Global Powdered Fats Market Outlook, By Other Processing Technologies (2021-2030) ($MN)
20 Global Powdered Fats Market Outlook, By Distribution Channel (2021-2030) ($MN)
21 Global Powdered Fats Market Outlook, By Direct Sales (2021-2030) ($MN)
22 Global Powdered Fats Market Outlook, By Indirect Sales (2021-2030) ($MN)
23 Global Powdered Fats Market Outlook, By Supermarkets/Hypermarkets (2021-2030) ($MN)
24 Global Powdered Fats Market Outlook, By Convenience Stores (2021-2030) ($MN)
25 Global Powdered Fats Market Outlook, By Online Retail (2021-2030) ($MN)
26 Global Powdered Fats Market Outlook, By Application (2021-2030) ($MN)
27 Global Powdered Fats Market Outlook, By Dairy & Non-dairy Products (2021-2030) ($MN)
28 Global Powdered Fats Market Outlook, By Bakery & Confectionery (2021-2030) ($MN)
29 Global Powdered Fats Market Outlook, By Frozen Desserts (2021-2030) ($MN)
30 Global Powdered Fats Market Outlook, By Baby Food & Infant Formula (2021-2030) ($MN)
31 Global Powdered Fats Market Outlook, By Supplements & Nutritional Products (2021-2030) ($MN)
32 Global Powdered Fats Market Outlook, By Beverages (2021-2030) ($MN)
33 Global Powdered Fats Market Outlook, By Seasonings & Flavorings (2021-2030) ($MN)
34 Global Powdered Fats Market Outlook, By Sauces, Dressings, & Condiments (2021-2030) ($MN)
35 Global Powdered Fats Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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