Global Anhydrous Milk Fat (Butter Oil) Market Size, Share, Trends, Analysis, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Anhydrous Milk Fat (Butter Oil) Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global anhydrous milk fat (butter oil) market, assessing the market based on its segments like dairy, bakery, confectionery, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 3.1 billion
- Forecast CAGR (2023-2028): 6%
- Forecast Market Size (2028): USD 6 billion
Consumer demand for fast food and refined food goods is driving the global anhydrous milk fat (butter oil) industry. Anhydrous milk fat is widely used in the dairy industry to make reconstituted milk and other dairy products including whole milk, cheese, spreads, and ice cream. Among other end-use markets, the dairy segment leads the global industry, accounting for a large portion of the market.
The bakery and confectionery segments follow the dairy section. Though countries such as Australia and New Zealand consume the majority of anhydrous milk fat, the European Union and the United States are expected to continue to drive industry growth due to growing understanding of the benefits of a vegan diet and the increasing popularity of fusion food items.
Industry Definition and Major Segments
Anhydrous milk fat, also known as butter oil, is made by centrifuging oil fat from cream or milk. It has a smooth texture, a high nutritional value, and a buttery flavour. It contains 99.8% dairy fat and is used as a replacement for butter or other fats in the preparation of reconstituted milk or dairy products, as well as in industrial and domestic culinary preparations. AMF can be easily stored and for a longer period of time due to its low water content.
On the basis of end-use, the global anhydrous milk fat (butter oil) industry can be divided into:
- Dairy
- Bakery
- Confectionery
- Others
The report also covers the regional anhydrous milk fat markets like:
- North America
- Europe
- the Asia Pacific
- Latin America
- the Middle East and Africa
Market Trends
The booming food and beverage industry is driving the global demand for anhydrous milk fat (butter oil). The industry’s expansion is aided by the rising demand for packaged foods. Growing demand for dairy products such as cheese and spreads, especially in developed regions, is assisting the industry’s expansion. Increasing investments in the dairy industry to increase production capacities are expected to give the sector a boost globally. The product’s long shelf life, due to its low moisture content, makes it a favoured option of use among manufacturers, propelling the market even further.
Key Market Players
The major players in the market are Dairy Farmers of America, NUMIDIA BV and FrieslandCampina. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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