The Asia Pacific Powdered Fats Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030).
There are various new developments in the market. As consumer consciousness regarding the detrimental impacts of saturated fats increases, there is a developing preference for natural fat powder alternatives that promote better health. In addition, as more people choose to eat sustainably and ethically, vegan and plant-based fat powders are becoming more and more popular. Moreover, producers are emphasizing product innovation by adding functional components to meet consumers' evolving dietary requirements. Furthermore, as customers seek more convenient and effortless purchasing events, the market is seeing a boom in online sales channels and e-commerce sites.
The market has an optimistic future due to the food and beverage industry's growing achievements. Market participants are emphasizing the introduction of application-specific product lines to more effectively cater to the demands of the end-user segment. In addition, industry players have been emphasizing direct sales of these fats while channelling efforts to strengthen their distribution networks. Additionally, companies are endeavouring to produce more affordable these fats with more protein and vegetable fat content.
China's rapid industrialization and urbanization have led to changing dietary habits, with urban populations relying more on processed and convenience foods. These fats meet the needs of manufacturers catering to these evolving consumption patterns. Chinese consumers aged 18 to 60 residing in Tier-1 to Tier-6 cities are concerned with food safety and health. A substantial portion of these consumers consider consuming food or alcohol to be an emotional tension reliever. Thus, the region's escalating demand for nutritious foods and beverages drives the expansion of the market.
The China market dominated the Asia Pacific Powdered Fats Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $298.1 million by 2030. The Japan market is registering a CAGR of 4.2% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.6% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Powdered Fats Market is Predict to reach $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
By Source
By Application
By Country
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