According to the latest report by IMARC Group, titled "Anhydrous Milk Fat Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global anhydrous milk fat market size reached US$ 3.2 Billion in 2019, expanding at a CAGR of 13.4% during 2014-2019. Anhydrous milk fat (AMF) or butter oil refers to a fat-rich dairy product that is prepared by extracting oil fat from cream or milk using the mechanical process of centrifugation. Widely available in semi-liquid or liquid form, it is characterized by a whitish-yellow color and a relatively high-average melting point. It not only contains high quantities of calcium and vitamins A, D, E and K2 but is also free from additives, preservatives and fatty acids. It imparts a rich dairy flavor and creaminess to a vast array of food recipes. As a result, it is used in the preparation of numerous bakery products and culinary preparations across the commercial and domestic segments.
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Global Anhydrous Milk Fat Market Trends:
The global market is primarily driven by the longer shelf life of AMF, along with the associated convenience of transportation and storage. Unlike butter, it can be stored at low temperatures for several months without turning putrid due to its low moisture content. The market is further driven by the growing utilization of the product in the food sector. AMF is extensively used for the preparation of dairy spreads as it provides lubricity, firmness, plasticity and viscosity to the end product. The easy product availability through the proliferating e-retail platforms and the expansion of production capabilities by market players are acting as other key growth-inducing factors. Significant growth in the dairy sector, and the increasing product utilization in fusion cuisines and as an alternative to butter and other fats are some of the other factors creating a positive outlook of the market. On account of the aforementioned factors, the market is projected to exhibit strong growth during the forecast period (2020-2025).
- On the basis of the end-use, the market has been classified into dairy, bakery, confectionery and others. Among these, the dairy segment exhibits a clear dominance in the market, accounting for the majority of the total market share.
- On the geographical front, the market has been divided into Oceania, Europe, North America, Asia, Latin America, and Middle East and Africa. At present, Oceania holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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