High fat powder Market to Reach $190.3 billion Globally, by 2032 at 8.5% CAGR: Allied Market Research

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Dec 07, 2023, 03:09 ET

PORTLAND, Ore., Dec. 7, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "High Fat Powder Market by Type (Coconut Milk Powder, Butter Powder, Cream Powder, Olive Oil Powder, Powdered Cheese, Whole Milk Powder, Others), by Application (Ice cream mixes, Bakery mixes, Confectionery mixes, Meal concentrates), by Distribution Channel (Hypermarkets, Specialty Stores, E-Commerce, Business to business): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the High fat powder Market was valued for $86.9 billion in 2022 and is estimated to reach $190.3 billion by 2032, exhibiting a CAGR of 8.5% from 2023 to 2032.

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Prime determinants of growth

The high fat powder market has experienced a notable surge in demand, driven in large part by the increase in need for sports nutrition of athletes. Athletes and fitness enthusiasts have turned to high fat powders as a valuable dietary supplement as they seek to optimize their performance and recovery. However, rise in health concerns among individuals has restrained the market growth. There is a growth in awareness of the potential adverse effects of excessive fat consumption on health, such as obesity, cardiovascular diseases, and diabetes as consumers become more health conscious. The high fat powder market presents a promising opportunity for growth and innovation in the food and beverage industry. High fat powders offer a versatile solution as consumers increasingly seek both indulgence and health-conscious options.

Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2032
Base Year	2022
Market Size in 2022	$86.9 billion
Market Size in 2032	$190.3 billion
CAGR	8.5 %
No. of Pages in Report	300
Segments covered	Type, application, distribution channel and region.
Drivers	Significant benefits of high fat powder Increase in demand for bakery and beverage products
Opportunities	Plant-based and vegan products
Restraints	Rise in health concerns among individuals

The others segment to maintain its leadership status throughout the forecast period

On the basis of type, the others segment held the highest market share in 2022, accounting for more than one-fifth of the global high fat powder market revenue, and is estimated to maintain its leadership status during the forecast period. High fat powder trends have evolved to meet changing consumer preferences and dietary needs. There is a growth in interest in plant-based high fat powders, beyond traditional dairy-based options, catering to vegan and lactose-intolerant consumers.

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However, the coconut milk powder segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.7% from 2023 to 2032. coconut milk powder has experienced a surge in demand driven by several key market trends, growth factors, and abundant opportunities. First, the rise in consumer preference for plant-based and dairy-free alternatives has propelled the popularity of coconut milk powder as a versatile ingredient in various culinary applications.

The liquid segment to maintain its lead position throughout the forecast period

On the basis of application, the meal concentrates segment held the highest market share in 2022, accounting for more than one-fifth of the global high fat powder market revenue and is estimated to maintain its leadership status during the forecast period. In the market for high fat powder, a notable trend is the increase in demand for high fat powder in meal concentrates. Meal concentrates have gained popularity as convenient, on-the-go meal solutions.

The bakery mix segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.5% from 2023 to 2032. Key market trends in high fat powder for bakery cream mixes include a growth in demand for plant-based options to cater to vegan and lactose-intolerant consumers. Health-conscious consumers have sought cleaner label products with minimal processing and healthier fat sources.

The business-to-business segment maintained its lead position throughout the forecast period.

On the basis of distribution channel, the B2B segment held the highest market share in 2022, accounting for more than half of the global high fat powder market revenue, and is estimated to maintain its leadership status during the forecast period. The major factor driving the growth of the business-to-business high fat powder sales is the rise in outdoor dining trends among consumers. There is a rise in the consumption of food outside the house as disposable income is on the rise, owing to which the demand for high fat powder is also on rise QSR such as McDonalds, Dominos, Pizza Hut, and Taco Bell have utilized refrigerated or frozen products in order to provide quick services to its customers.

However, e-commerce segment is the fastest-growing segment and is projected to manifest the highest CAGR of 11.7% from 2023 to 2032. The most popular distribution channel is online sales channel in the current era. People want to save their time and money as they are busy nowadays. So, they opt for online applications or sales channel to buy various products.

North America to maintain its dominance by 2032

On the basis of region, the North America region held the highest market share in 2022, accounting for approx. two fifth of the high fat powder market revenue and is estimated to maintain its leadership status during the forecast period. The demand for high fat powder products is being driven by an increase in the number of gym-going and fitness-conscious people who want to stay healthy and fit. The increase in popularity of "clean label" and "free-from" products has led the way in North America, particularly in the U.S., and is expected to play a significant role in the growth of the sports nutrition market in the future which is expected to foster the overall market growth. However, the Asia-Pacific region is projected to manifest the highest CAGR of 10.3% from 2023 to 2032. In the Asia-Pacific region, the high fat powder market has experienced notable trends. A rise in middle-class population, change in dietary preferences, and urbanization have driven the demand for convenience food, elevating the use of high fat powders in ready-to-eat products.

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Leading Market Players:

Barry Callebaut AG
Corman SA
Kanegrade Limited
Glanbia PLC
Kerry Group plc
Arla Foods amba
Lactalis Group
Danone S.A.
FONTERRA CO-OPERATIVE GROUP LIMITED
Darigold, Inc.

The report provides a detailed analysis of these key players in the global High fat powder Market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario

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