PUBLISHER: Grand View Research | PRODUCT CODE: 1405743
PUBLISHER: Grand View Research | PRODUCT CODE: 1405743
The global powdered fats market size is projected to reach USD 3.17 billion by 2030 and is anticipated to grow at a CAGR of 4.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of this market can be attributed to the growing popularity of low-carb diets among health conscious consumers and the resultant need for fats derived from novel sources such as palm, coconut, and sunflower. In low-carb, high-fat diets, people often use powdered fats to add healthy fats to their meals or beverages. One of the popular sources of powdered fats in these diets is Medium-Chain Triglycerides (MCT) oil powder.
With a rising emphasis on health and nutrition, consumers are seeking products that align with specific dietary preferences and lifestyles. The demand for keto-friendly products has driven the market for powdered fats, especially those high in omega 3, 6, and 9. The market for vegan products is expanding rapidly as more consumers adopt plant-based diets for ethical, health, and environmental reasons. Companies are attempting to expand their range of powdered fat, deriving it from new sources rather than conventional ones such as palm fats and milk fats to cater to this growing demand for vegan and healthier sources of powdered fats.
Growth in manufacturing technologies has led to the development of encapsulation techniques in powdered fat manufacturing. It will limit the oxidation of fat powders, thereby providing a long shelf-life. According to a 2023 article, 'Edible oil to powder technologies: Concepts and advances' on ScienceDirect, the advantages of microencapsulated and nano-emulsion-based powdered fats from edible oil are highlighted in retarding the oxidation process. Nano-encapsulated oil powder has been found to preserve the quality of oil during storage and has a significant impact on maintaining its quality.
Among sources, palm and palm kernel dominated the market in 2022. The demand for coconut-based products is anticipated to grow at the fastest CAGR during the forecast period. Powdered fats are processed using key technologies, such as spray drying, drum drying, and freeze drying. Spray dried powdered fats are expected to witness the fastest CAGR during the forecast period.
In April 2023, Germany-based Berg + Schmidt expanded its presence in the Middle East to cater to the rising demand for feed additives. Through the establishment of a warehouse in the UAE, Berg + Schmidt is looking to improve the distribution of its specialty products, such as BergaFat fat powders, lecithin, and trace minerals.