The Latin America, Middle East and Africa Powdered Fats Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
Dietary supplements supply the body with essential fatty acids and other nutrients from vegetable fats, such as coconut, olive, or palm oil. This dietary supplement supplies necessary fatty acids and elevates food's taste and consistency. It is frequently utilized as a spread in baking and frying. Vegetable fat consumption offers multiple health benefits. Essential fatty acids, crucial to maintaining healthy skin, hair, and nails, are abundant in vegetable fat. Also, it can lessen inflammation, improve heart health, and lower the chance of developing several cancers. Vegetable fat is also a fantastic energy source and may prolong the sense of fullness.
From the viewpoint of product functionality, multiple food categories use these fats differently. A moderate proportion (25–40%) of solid fat needs to be present while preparing dough for bakery goods (such as pastries and biscuits) to provide a light texture without excessive oil exudation in the finished product. Ethically and functionalistically, chocolate can be made from cocoa butter. Any fats exchanged for cocoa butter also need to abide by regulations and melt and crystallize identically to cocoa butter. Ice cream is usually made using fat that melts below room temperature and is at least 50% solid at 0°C. Thus, the primary reasons behind the growth of this market are the growing adoption of plant-based substitutes, convenience food items, and the beneficial properties of these fats.
The market in South Africa has experienced significant growth in recent years as a result of various factors, such as evolving dietary patterns and consumer preferences. As a result of their hectic schedules, individuals prefer portable beverage alternatives that provide immediate advantages, including hydration, energy, or nourishment. Moreover, the growing middle class in South Africa has led to shifting dietary preferences, with an increased inclination towards convenience foods. These fats have become integral in the production of processed and convenience foods, offering stability, improved texture, and extended shelf life. Thus, as this region continues to experience economic growth and heightened health awareness, the market is poised for further expansion.
The Brazil market dominated the LAMEA Powdered Fats Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $65.6 million by 2030. The Argentina market is showcasing a CAGR of 6.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Powdered Fats Market is Projected to reach USD 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.
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