Concentrated Milk Fat Global Market Report 2024

Concentrated milk is a dairy product with an extended shelf life, achieved by removing moisture. It retains the minerals and vitamins present in regular milk.

The primary product types in concentrated milk are organic and conventional. Organic variants are produced without the use of chemicals, relying on natural methods. Organic milk products often boast more nutrients, healthier omega-3 fatty acids, and disease-fighting antioxidants compared to their non-organic counterparts. Concentrated milk finds applications in bakery and confectionery, dairy products, nutraceuticals, and other industries. These products are distributed through various channels, including online and offline stores.

The concentrated milk fat market research report is one of a series of new reports that provides concentrated milk fat market statistics, including global market size, regional shares, competitors with a concentrated milk fat market share, detailed concentrated milk fat market segments, market trends and opportunities, and any further data you may need to thrive in the concentrated milk fat industry. This concentrated milk fat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The concentrated milk fat market size has grown rapidly in recent years. It will grow from $4.79 billion in 2023 to $5.31 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to the demand in the dairy industry, applications in food processing and baking, utilization in confectionery and chocolates, flavor enhancement, and increased international trade and export.

The concentrated milk fat market size is expected to see rapid growth in the next few years. It will grow to $8.04 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The expected growth in the forecast period can be attributed to the demand for health-conscious alternatives, the popularity of customized fat blends, the emphasis on clean label and natural ingredients, and the rise of plant-based alternatives. Major trends in the forecast period include innovations in bakery and confectionery, the growth of plant-based alternatives, a focus on sustainable sourcing and production, global trade and export, and customization for foodservice.

The robust expansion of the dairy industry stands as a significant driver for the concentrated milk fat market. Comprising both dairy farm milk production and milk processing at dairy plants, the dairy industry extensively relies on concentrated milk fat in the manufacturing of various products such as cheese, ice cream, and dairy creams. This, in turn, is a substantial contributor to the overall growth of the concentrated milk fat market. An illustration of this trend can be observed in the Indian dairy industry, where it is projected to witness a growth rate of 9–11% during 2021–22, according to an article in Business Standard. Additionally, Invest India, an investment promotion agency, anticipates that the Indian dairy industry will reach $355 billion by 2025.

The increasing demand for products with extended shelf life is anticipated to be a driving force for the concentrated milk fat market. Concentrated milk fat, characterized by low water activity, exhibits a longer shelf life and can be stored at room temperature for several months. This attribute makes it a preferred ingredient in the production of bakery and confectionery items. In February 2023, the American Frozen Food Institute (AFFI) reported an 8.6% increase in sales of frozen food, known for its long shelf life, reaching $72.2 billion in 2022. The rising consumer preference for long-shelf-life products is expected to foster the growth of the concentrated milk fat market.

The expansion of the food and beverage industry is poised to be a driving factor for the concentrated milk fat market. Encompassing a broad spectrum of activities from production and processing to distribution and sales, the food and beverage industry extensively utilizes concentrated milk, including condensed and evaporated milk. This usage enhances the richness and flavor of various products such as desserts and sauces, while simultaneously extending shelf life due to reduced moisture content. The remarkable growth of the food and beverage industry is evident in the U.S., where restaurant sales surged to $898 billion in 2022, representing a significant increase of $166.5 billion from 2021, as reported by USA Today. As the food and beverage sector continues to expand, it propels the growth of the concentrated milk fat market.

Major companies in the concentrated milk fat market are directing their efforts toward innovative product production, exemplified by the focus on protein concentrate manufacturing for the production of milk protein concentrate. Protein concentrate involves a food ingredient or product that undergoes processing to elevate the proportion of protein content compared to other components like carbohydrates, fats, and minerals. An illustration of this trend is found in ZAO Molvest, a Russia-based food and beverage company, which inaugurated the country's inaugural milk protein concentrate production facility in January 2023. This facility is designed to replace 25% of the country's previous imports of milk protein concentrate, contributing to the annual production of 2,500 metric tons and significantly reducing the need for imports.

Darigold, a US-based dairy and agricultural product manufacturer, adopted a collaborative approach in March 2021 by partnering with Girl Scout councils. The primary objective of this partnership is to extend and enhance the existing relationship between Darigold and Girl Scouts to generate funds specifically for financial assistance for the Girl Scouts. In this collaboration, Darigold pledges a portion of sales from each carton or bottle of Darigold extended shelf-life milk sold at participating retailers to the partnered Girl Scout councils. This initiative aligns with the broader goal of contributing to the community and supporting the financial needs of the Girl Scouts, reflecting a strategic approach to corporate social responsibility.
Major companies operating in the concentrated milk fat market include Darigold Inc., Grassland Dairy Products Inc., Lactalis Ingredients, FrieslandCampina Professional NV, California Dairies Inc., Fonterra Co-operative Group, Hoogwegt US Inc., FIT Company, JLS Foods Inc., G&R Foods Inc., Fista Group, CP Ingredients Ltd., Provilac Dairy Farms Private Limited, DANA Dairy Group Ltd., Keynote Dairy Corp. Ltd., Anand Milk Union Limited, Koninklijke FrieslandCampina N.V., Pine River Dairy Inc., MCT Dairies Inc., Prolac Pvt. Ltd., Galloway Company, Agropur Cooperative, Dairy Farmers of America, Glanbia PLC, Arla Foods amba, Royal FrieslandCampina N.V., Euroserum SAS, Milk Specialties Global Co., Westland Co-Operative Dairy Company Ltd., Murray Goulburn Co-operative Co. Limited, Tatura Milk Industries Ltd., Synlait Milk Limited, Tatua Co-operative Dairy Company Limited, Meggle AG, Batory Foods Inc., Carbery Group Ltd., Milkfat Products Company, Uelzena eG, Milkio Foods Limited

North America was the largest region in the concentrated milk fat market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concentrated milk fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the concentrated milk fat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The concentrated milk market consists of sales of evaporated milk and condensed milk. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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