The global buttermilk powder market is set to experience a value growth of around 7.3% CAGR over the next ten years, and will offer an incremental $ opportunity of around US$ 2.5 Bn. Increasing consumption of processed food products has driven demand for a variety of food ingredients, including buttermilk powder. This is due to ease of handling, preservation, and storage, which will provide many opportunities for buttermilk powder suppliers.
Buttermilk powder constitutes lactose, proteins, and other nutrients that are beneficial for animal health. Due to the presence of many nutrients, buttermilk powder is widely used in pet food and pig feed, and also as a milk substitute in the animal feed industry. Demand from the animal feed industry due to the presence of high levels of phospholipids is likely to increase.
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Companies in this space are expanding their product portfolios and focusing on innovation to gain a upper hand across regions.
- In 2016, Continental Dairy Facilities, LLC added butter and buttermilk powder to its product portfolio as a part of its US$ 50 Mn expansion plan. The company has invested an estimated US$ 425 Mn in new facilities and equipment between 2012 and 2017.
- In 2016, California Dairies, Inc. opened an innovation center, which is a state-of-the art research and development facility. It introduced a full test kitchen, an analytical laboratory, a spacious pilot plant, and a new line of nutritional milk powder products.
Key Takeaways from Market Study
- The buttermilk powder market in countries of East Asia & South Asia is expected to rise at CAGRs of 14.5% and 11.8%, respectively, through 2031.
- North America and Europe dominate the global market with market shares 21.6% and 39.5%, respectively.
- Conventional buttermilk powder is witnessing prominent market value share at more than 89%.
- Key contributing factor for the high production ratio of buttermilk powder is growing importance of functional ingredients in the bakery & confectionery industry.
- North America and Europe hold around more than half the share of the global market, mainly due to high consumption of buttermilk powder-based products in these regions.
- Application of buttermilk powder in the food service industry is anticipated to surge at a value CAGR of 28.8%.
- The U.S. and China hold significant shares in the North American and East Asian markets, respectively.
- The COVID-19 pandemic has had a profound impact on the demand for buttermilk powder. However, increasing demand for healthy and nutritious food products is expected to drive market growth over the next ten years.
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Competitive Landscape
Buttermilk powder manufacturers are focusing on increasing its application by investing in research & development to develop new products. Manufacturers who are expected to continue coming up with numerous innovations to expand their product ranges. Market players are constantly putting in efforts in increasing sales across different application industries.
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