The Asia Pacific Anhydrous Milk Fat Market would witness market growth of 6.8% CAGR during the forecast period (2022-2028).
In butter cookies, where the flavor is the main factor, anhydrous milk fat is used since it has shortening characteristics like crunchiness. The olein component of anhydrous milk fat can be used to combat fat blooming, a mold-like pale stripe that develops on the top of butter biscuits due to crystals of high-melting point fat.
Anhydrous milk fat has a longer shelf life than other fat types, making it easier to export and store for several months at room temperature. Historically, only countries like Australia and New Zealand were allowed to consume anhydrous milk fat. Also, several applications for anhydrous milk fat in the fast-food industry are expected to grow dramatically over the coming few years. This element is predicted to raise anhydrous milk fat demand globally.
The versatility of anhydrous milk fat and other dairy products makes them popular baking ingredients. The retail bakery, confectionery, and in-store services sectors are full of creative ideas. Therefore, the anhydrous milk fat market has a bright future.
According to the Food and Agricultural Organization (FAO), India is the world's greatest producer of milk, accounting for 22 percent of the total worldwide output. China and the United States follow in second and third place, respectively. Other dairy products, however, are gaining popularity among consumers. For instance, anhydrous milk fat is a very recent addition to the area. The region embraces innovation and is open to exploring novel flavored items. Thus, people are eager to try new flavored meals and beverages. In addition, customers began to place a higher premium on food that provides functional benefits in addition to flavor. Hence, the demand for functional dairy products such as milk and cheese has increased. So, these organic dairy alternatives are positively influencing market expansion.
The Australia & NewZealand (ANZ) market dominated the Asia Pacific Anhydrous Milk Fat Market by Country in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $787.9 Million by 2028. The China market is estimated to grow a CAGR of 6% during (2022 - 2028). Additionally, The Japan market would experience a CAGR of 7.3% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Nature, the market is segmented into Conventional, and Organic. Based on Application, the market is segmented into Dairy, Bakery, Confectionary, and Others. Based on countries, the market is segmented into Australia & NewZealand (ANZ), China, Japan, India, South Korea, Malaysia and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Anhydrous Milk Fat Market is Projected to reach USD 4.3 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Royal VIVBuisman (The Van Ballegooijen), Interfood Holding BV, Eurial Services (Agrial Group), Polmlek Group, Asha Ram & Sons Pvt. Ltd., Meadow Foods Limited, Royal FrieslandCampina N.V., Lactalis Group, and United Global Agencies Group.
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