Following a comprehensive market assessment and in line with the Company’s ‘four-pillar’ growth strategy, Keytone Dairy is pleased to announce it has launched its first ‘wet’ product, KeyDairy® Anhydrous Milk Fat (“AMF”) in 18kg tins for the food service channel, targeted at its core market of Greater China and South East Asia.
AMF contains at least 99.9% milk fat and only requires ambient storage. This makes it more convenient and cost effective than equivalent butter products (which require cold storage) and makes it ideal for the logistics of food service users. Traditionally this product has been used for butter making or exporting to bulk industrial manufacturers. With the rapid growth of bakery and food & hotel services in Asia, the demand for smaller packs of AMF is expanding, as the product doesn’t require cold storage and is light enough for individual handling without the use of specialised equipment. Already well-known in India and the Middle East, AMF is meeting growing acceptance in the bakery industry in China, Hong Kong and Taiwan because of its flavour in pastry and cake making.
According to the IMARC’s 2018 study “Anhydrous Milk Fat (Butter Oil) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” the global anhydrous milk fat market grew at a CAGR of 4.7% during 2010 – 2017, reaching US$2.6 billion in 2017. Some of the key factors driving this demand include ease of transportation and storage, flourishing food manufacturing industry, population growth, increasing disposable incomes, changing dietary habits and rising demand from developing markets. AMF is a truly global export, with the top global markets being China, South East Asia, Mexico, the Middle East, India and the United States respectively.