(MENAFN- GlobeNewsWire - Nasdaq) The Global Powdered Fats market Size was Valued at USD 2.33 Billion in 2023 and the Worldwide Powdered Fats Market Size is Expected to Reach USD 3.41 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: Kerry Group plc, Royal FrieslandCampina N.V., Aarkay Food Products Ltd., Insta Foods, Castle Dairy s.a., Zeon Lifesciences Ltd., LUS health Ingredients BV, Hill Natural Extract, Tiba Starch & Glucose manufacturing Co. S.A.E, and Other Key Vendors.
New York, United States , April 04, 2024 (GLOBE NEWSWIRE) -- The Global Powdered Fats Market Size is to Grow from USD 2.33 Billion in 2023 to USD 3.41 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.88% during the projected period.
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Powdered fat is fat that has been treated into a dry consistency similar to powder. It often finds its way into a wide variety of culinary applications and food products. Powdered fat is often found in a variety of foods, including dairy products, animal fats, and vegetable oils. It is simpler to handle, store, and use in recipes as compared to liquid fats. Moreover, powdered fats can enhance the flavor, texture, and shelf life of food products. Increasing product offers through retail channels is one of the reasons driving the worldwide powdered fat market. The availability of fat powders in supermarkets and hypermarkets can be attributed to people's growing need for convenience. Supermarkets and hypermarkets have increased their market share as modern commerce methods have taken center stage.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the " Global Powdered Fats Market Size, Share, and COVID-19 Impact Analysis, By Source (Palm & Palm Kernels, Milk & Others), By Processing Technology (Spray Drying, Drum Drying & Others), By Application (Dairy & Non-dairy Products, Frozen Desserts, Bakery & Confectionery, & Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The palm and palm kernels segment is expected to hold the largest share of the global powdered fats market during the predicted timeframe.
Powdered Fats market is classified by source into palm & palm kernels, milk and others. Among these, the palm and palm kernels segment is expected to hold the largest share of the global powdered fats market during the predicted timeframe. Due to their high melting point and decreased risk of rancidity, palm-derived powdered fats are the best choice for applications needing stable fats, such as baking, confectionery, and snack foods.
The spray drying segment is expected to hold the largest share of the global powdered fats market during the anticipated period.
On the basis of the processing technology, the global powdered fats market is divided into spray drying, drum drying and others. Among these, the spray drying segment is expected to hold the largest share of the global powdered fats market during the anticipated period. Spray drying is a common method that produces powder particles by rapidly drying liquid fats or oils with hot air after they are atomized into tiny droplets. This method is effective for fats that are sensitive to heat. Spray-dried fat powders are used in a wide range of culinary products, including chocolates, cookies, savory foods, fast drinks, dairy alternatives, and nutritional supplements.
The bakery and confectionery segment are expected to hold the largest share of the global powdered fats market during the anticipated period.
On the basis of the application, the global powdered fats market is divided into dairy and non-dairy products, frozen desserts, bakery and confectionery, and others. Among these, the bakery and confectionery segment are expected to hold the largest share of the global powdered fats market during the anticipated period. Since fat-filled milk powder has a higher fat content than whole milk powder, the industry has observed a rise in demand for it. Customers are becoming more interested in clean-label and all-natural bakery products, especially Europeans who are known for closely reading ingredient labels.
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Asia Pacific is anticipated to hold the largest share of the global powdered fats market over the predicted timeframe.
Asia Pacific is anticipated to hold the largest share of the global powdered fats market over the predicted timeframe. Many companies are now offering powdered fat for a range of applications as a result of the region's growing need for processed and ready-to-eat meals. Powdered fats are becoming more and more used in culinary applications because they provide concentrated taste and texture.
Throughout the projection period, North America is anticipated to increase at the quickest rate. The increasing popularity of vegan and non-dairy milk alternatives is driving up the need for fat powders in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Powdered Fats Market include Kerry Group plc, Royal FrieslandCampina N.V., Aarkay Food Products Ltd., Insta Foods, Castle Dairy s.a., Zeon Lifesciences Ltd., LUS Health Ingredients BV, Hill Natural Extract, Tiba Starch & Glucose Manufacturing Co. S.A.E and others.
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Recent Developments
In March 2021, LUS Health Ingredients has introduced a new range of vegan-friendly powdered fats called Veganergy.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Powdered Fats Market based on the below-mentioned segments:
Global Powdered Fats Market, By Source
Palm and Palm Kernels Milk Others
Global Powdered Fats Market, By Processing Technology
Spray Drying Drum Drying Others
Global Powdered Fats Market, By Application
Dairy and Non-dairy Products Frozen Desserts Bakery and Confectionery Others
Global Powdered Fats Market, By Region
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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