Summary

The global anhydrous milk fat market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032. The growing trend of consuming dairy-based diets, increasing number of fast-food chains, restaurants, cafes, and hotels serving flavorful dishes, and the rising popularity of fusion food among the masses represent some of the key factors driving the market.

Increasing Consumption of Fast-Food Stimulating Market Growth

At present, the thriving fast-food industry is propelling the demand for anhydrous milk fat (butter oil). In addition, the increasing utilization of anhydrous milk fat in manufacturing recombined dairy products, such as condensed milk, is contributing to the growth of the market. Moreover, the rising number of fast-food joints around the world selling flavorful dishes at affordable prices is supporting the growth of the anhydrous milk fat (butter oil) market. Besides this, fast food joints are adopting effective marketing strategies and collaborating with food bloggers and vloggers to connect with their targeted audience and increase their sales. They are also providing extra discounts, home delivery, and takeaway services to cater to a greater number of customers, which is catalyzing the demand for anhydrous milk fat (butter oil). Additionally, the rising trend of working from cafes, conducting business meetings, or arranging get-togethers in restaurants or cafes is supporting the growth of the anhydrous milk fat (butter oil) market. Apart from this, the increasing popularity of various fried foods, such as French fries, falafel, egg rolls, spring rolls, tempura, fritters, and chicken nuggets and wings, is strengthening the growth of the market. Furthermore, the growing consumption of various fried foods and ready-to-eat (RTE) food products among working individuals to save time and suppress appetite is creating a substantial demand for the global anhydrous milk fat (butter oil) industry.

Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The structure of the anhydrous milk fat (butter oil) market is fragmented, with a large number of global and regional key players operating and engaging in various mergers and acquisitions (M&A). The product differentiation rate is low, and the volume of new entrants in the market is also low due to the requirement of high capital investment and sophisticated machinery, difficult procurement process of raw materials, and stringent government regulations.

What is Anhydrous Milk Fat (Butter Oil)?

Anhydrous milk fat (AMF) refers to a compound extracted by separating oil fat from the cream or milk through the process of centrifugation. It involves removing the water content from milk to procure the fat concentrate, which contains pure milk fat. It is yellow in color and possesses a buttery and cream-like texture. It is manufactured by chilling raw milk, standardizing it by adding fat, protein, and other nutrients, pasteurizing, aging, churning, vacuum treating, and finally refining to achieve accurate flavor and texture. It stays liquid at temperatures above 36 degrees and solidifies at temperatures below 16-17 degrees and does not contain any additives, preservatives, or fatty acids. It has a longer shelf life, which facilitates easy transportation and storage. It does not require refrigeration during transportation and the quality depends primarily on free fatty acid levels, contamination by other oils and fats, and measurement of oxidative deterioration, such as peroxide value and anisidine value. It offers numerous nutritional benefits and contains high quantities of vitamins A, D, E, and K2 and calcium which are essential for maintaining proper bone health, preventing the occurrence of arthritis, and boosting immunity. It is incorporated in a wide range of recombined dairy products, such as whole milk, cheese, spreads, and ice creams. It is added to soups and sauces for providing a smooth and creamy texture and is utilized in frying, deep frying, roasting, grilling, and sauce-making purposes. It is also employed in the production of shortbread, butter cookies, pound cakes, and pastries and incorporated into praline fillings, chocolate, and chocolate bars, as it forms less fat bloom on the surface of chocolates.

Anhydrous Milk Fat Market (Butter Oil) Trends:

At present, the increasing demand for AMF due to the shifting trend of consuming dairy-based diets represents one of the primary factors influencing the market positively. Besides this, the rising demand for AMF in the food and beverage (F&B) industry to produce various processed food products is propelling the growth of the market. In addition, the growing demand for organic AMF produced from the processing of organic milk due to increasing health consciousness among the masses is offering a favorable market outlook. In line with this, the wide availability of input suppliers providing fodder, animal feed products, and veterinary products to maintain the proper health of cattle is impelling the growth of the market. Apart from this, the rising utilization of AMF as an alternative to butter, as it possesses a longer shelf life and does not require costly storage requirements, is contributing to the growth of the market. Additionally, the increasing popularity of various fusion food products among the masses is bolstering the growth of the market. Moreover, governing agencies of various countries are investing in the dairy sector to increase the production of milk and other dairy products. They are also encouraging manufacturers to strengthen the distribution network to increase their geographical presence, diversify the market, and maintain inventory. Furthermore, key market players are adopting advanced machinery to speed up the process of AMF production. They are also focusing on collaborating with raw material suppliers to get milk at fixed prices and minimize the issue of fluctuating supply costs and hire skilled and unskilled manpower to manage various labor-intensive processes in AMF production.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global anhydrous milk fat (butter oil) market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on end-use.

End Use Insights:

Dairy
Bakery
Confectionary
Others

The report has provided a detailed breakup and analysis of the anhydrous milk fat (butter oil) market based on the end use. This includes dairy, bakery, confectionary, and others. According to the report, dairy represented the largest segment as it is a key ingredient in a wide range of recombined diary items, such as whole milk, cheese, spreads, ice cream, and condensed milk. Additionally, anhydrous milk fat provides a smooth, rich, and cream-like texture to various dairy products and enhances the overall flavor, which is propelling the growth of the respective segment.

Regional Insights:

Oceania
Europe
North America
Asia
Latin America
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include Oceania, Europe, North America, Asia, Latin America, and the Middle East and Africa. According to the report, Oceania was the largest market for anhydrous milk fat (butter oil). Some of the factors driving the Oceania anhydrous milk fat (butter oil) market included the rising consumption of dairy-based diets to prevent the occurrence of various chronic diseases and the growing utilization of anhydrous milk in various local cuisines. In addition, the increasing adoption of effective methods and investments in the dairy sector to increase milk production and manufacturing of anhydrous milk fat is bolstering the growth of the market.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global anhydrous milk fat market. Some of the companies covered in the report include:

Fonterra
Dairy Farmers of America
Hilmar Cheese Company
Murray Goulburn
Westland Milk Products
Synlait Milk Limited

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global anhydrous milk fat (butter oil) market in 2023?
2. What is the expected growth rate of the global anhydrous milk fat (butter oil) market during 2024-2032?
3. What are the key factors driving the global anhydrous milk fat (butter oil) market?
4. What has been the impact of COVID-19 on the global anhydrous milk fat (butter oil) market?
5. What is the breakup of the global anhydrous milk fat (butter oil) market based on the end-use?
6. What are the key regions in the global anhydrous milk fat (butter oil) market?
7. Who are the key companies/players in the global anhydrous milk fat (butter oil) market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Anhydrous Milk Fat (Butter Oil) Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Price Trends
5.5 Market Breakup by Region
5.6 Market Breakup by End Use
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.9.1 Raw Material Procurement
5.9.2 Manufacturing
5.9.3 Marketing
5.9.4 Distribution
5.9.5 Export
5.9.6 End-Use
5.10 Porter’s Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Key Success Factors and Risk Factors
6 Performance of Key Regions
6.1 Oceania
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Europe
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 North America
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Asia
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Latin America
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Middle East and Africa
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by End Use
7.1 Dairy
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Bakery
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Confectionary
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Competitive Landscape
8.1 Market Structure
8.2 Key Players
9 Anhydrous Milk Fat Manufacturing Process
9.1 Product Overview
9.2 Detailed Process Flow
9.3 Various Types of Unit Operations Involved
9.4 Mass Balance and Raw Material Requirements
10 Project Details, Requirements and Costs Involved
10.1 Land Requirements and Expenditures
10.2 Construction Requirements and Expenditures
10.3 Plant Machinery
10.4 Machinery Pictures
10.5 Raw Material Requirements and Expenditures
10.6 Raw Material and Final Product Pictures
10.7 Packaging Requirements and Expenditures
10.8 Transportation Requirements and Expenditures
10.9 Utility Requirements and Expenditures
10.10 Manpower Requirements and Expenditures
10.11 Other Capital Investments
11 Loans and Financial Assistance
12 Project Economics
12.1 Capital Cost of the Project
12.2 Techno-Economic Parameters
12.3 Product Pricing and Margins Across Various Levels of the Supply Chain
12.4 Taxation and Depreciation
12.5 Income Projections
12.6 Expenditure Projections
12.7 Financial Analysis
12.8 Profit Analysis
13 Key Player Profiles
List of Figures
Figure 1: Global: Anhydrous Milk Fat Market: Major Drivers and Challenges
Figure 2: Global: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018-2023
Figure 3: Global: Anhydrous Milk Fat Market: Value Trends (in Billion US$), 2018-2023
Figure 4: Global: Anhydrous Milk Fat Market: Average Prices (in US$/Ton), 2018-2023
Figure 5: Anhydrous Milk Fat Market: Price Structure
Figure 6: Global: Anhydrous Milk Fat Market: Breakup by Region (in %), 2023
Figure 7: Global: Anhydrous Milk Fat Market: Breakup by End Use (in %), 2023
Figure 8: Global: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 9: Global: Anhydrous Milk Fat Market Forecast: Value Trends (in Billion US$), 2024-2032
Figure 10: Global: Anhydrous Milk Fat Market Forecast: Average Prices (in US$/Ton), 2024-2032
Figure 11: Global: Anhydrous Milk Fat Industry: SWOT Analysis
Figure 12: Global: Anhydrous Milk Fat Industry: Value Chain Analysis
Figure 13: Global: Anhydrous Milk Fat Industry: Porter’s Five Forces Analysis
Figure 14: Oceania: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 15: Oceania: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 16: Europe: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 17: Europe: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 18: North America: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 19: North America: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 20: Asia: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 21: Asia: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 22: Latin America: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 23: Latin America: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 24: Middle East and Africa: Anhydrous Milk Fat Market: Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 25: Middle East and Africa: Anhydrous Milk Fat Market Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 26: Global: Anhydrous Milk Fat Market (in Dairy): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 27: Global: Anhydrous Milk Fat Market Forecast (in Dairy): Volume Trends (in ‘000 Tons), 2024-2032
Figure 28: Global: Anhydrous Milk Fat Market (in Bakery): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 29: Global: Anhydrous Milk Fat Market Forecast (in Bakery): Volume Trends (in ‘000 Tons), 2024-2032
Figure 30: Global: Anhydrous Milk Fat Market (in Confectionary): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 31: Global: Anhydrous Milk Fat Market Forecast (in Confectionary): Volume Trends (in ‘000 Tons), 2024-2032
Figure 32: Global: Anhydrous Milk Fat Market (Other Uses): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 33: Global: Anhydrous Milk Fat Market Forecast (Other Uses): Volume Trends (in ‘000 Tons), 2024-2032
Figure 34: Anhydrous Milk Fat Manufacturing: Detailed Process Flow
Figure 35: Anhydrous Milk Fat Manufacturing: Conversion Rate of Feedstocks
Figure 36: Anhydrous Milk Fat Manufacturing Plant: Breakup of Capital Costs (in %)
Figure 37: Anhydrous Milk Fat Industry: Profit Margins at Various Levels of the Supply Chain
Figure 38: Anhydrous Milk Fat Production: Manufacturing Cost Breakup (in %)
List of Tables
Table 1: Global: Anhydrous Milk Fat Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Anhydrous Milk Fat Market Forecast: Breakup by Region, 2024-2032
Table 3: Global: Anhydrous Milk Fat Market Forecast: Breakup by End Use, 2024-2032
Table 4: Global: Anhydrous Milk Fat Market: Competitive Structure
Table 5: Global: Overview of Top Anhydrous Milk Fat Manufacturers
Table 6: Typical Composition of Anhydrous Milk Fat
Table 7: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Land and Site Development (in US$)
Table 8: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Civil Works (in US$)
Table 9: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Milk Reception Section (in US$)
Table 10: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Milk Processing Section (in US$)
Table 11: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Separation Section (in US$)
Table 12: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Butter Section (in US$)
Table 13: Anhydrous Milk Fat Manufacturing Plant: Costs Related to AMF Section (in US$)
Table 14: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Drying Section (in US$)
Table 15: Anhydrous Milk Fat Manufacturing Plant: Summary of Machinery Costs (in US$)
Table 16: Anhydrous Milk Fat Manufacturing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (in US$/Ton)
Table 17: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
Table 18: Anhydrous Milk Fat Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
Table 19: Details of Financial Assistance Offered by Financial Institutions
Table 20: Anhydrous Milk Fat Manufacturing Plant: Capital Costs (in US$)
Table 21: Anhydrous Milk Fat Manufacturing Plant: Techno-Economic Parameters
Table 22: Anhydrous Milk Fat Manufacturing Plant: Taxation and Depreciation (in US$)
Table 23: Anhydrous Milk Fat Manufacturing Plant: Income Projections (in US$)
Table 24: Anhydrous Milk Fat Manufacturing Plant: Expenditure Projections (in US$)
Table 25: Anhydrous Milk Fat Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability (in US$)
Table 26: Anhydrous Milk Fat Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability (in US$)
Table 27: Anhydrous Milk Fat Manufacturing Plant: Profit and Loss Account (in US$)