The Europe Powdered Fats Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030).
An increase in the demand for processed foods, as well as organic and plant-based ingredients, is propelling the market. Additionally, as consumers' understanding of the harmful effects of high-fat diets develops, so does their health consciousness. As a result of this increased awareness, market participants are creating low-fat and fat-free products. The demand for fat powders as a fat substitute in various culinary applications is predicted to increase due to this trend.
Furthermore, the market is experiencing growth primarily because of the influence of the pharmaceutical and cosmetics industries. Because powdered fats contain blending and moisturizing traits, these businesses use them to make lotions, ointments, and powders. Fat powders are also added to animal feed to improve the feed's palatability and nutritional content.
With a valuation of £104.4 billion, the food and beverage industry is the largest manufacturing sector in the United Kingdom in terms of revenue. An industry-wide dedication to meet evolving consumer demands is evident in the 2021 Food and Drink Report by the UK's Department for Business and Trade, which highlights that 77% of food and drink manufacturers are augmenting their emphasis on new product development and innovation. As the food and drink sector expands and diversifies to cater to changing consumer demands, the demand for these fats as a functional ingredient is expected to continue growing. Hence, the expanding food and drink sector in the region will aid in the expansion of the market.
The Germany market dominated the Europe Powdered Fats Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $191.7 million by 2030. The UK market is exhibiting a CAGR of 3.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.2% during (2023 - 2030).
Based on Processing Technology, the market is segmented into Spray Drying, Drum Drying, Freeze Drying, and Others. Based on Source, the market is segmented into Palm & Palm Kernel, Milk, Sunflower, Coconut, Canola, Corn, and Others. Based on Application, the market is segmented into Bakery & Confectionery, Baby Food & Infant Formula, Beverages, Sauces, Dressings, & Condiments, Frozen Desserts, Dairy & Non-dairy Products, Supplements & Nutritional Products, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Powdered Fats Market will Hit $3 Billion by 2030, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kerry Group plc, Royal FrieslandCampina N.V., Aarkay Food Products Ltd., Insta Foods, Vreugdenhil BV, Zeon Lifesciences Ltd., LUS Health Ingredients BV and Glenstal Foods Ltd.
By Processing Technology
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