Houdini alembic to UE4. This particular example is using vdbs as a way to get a more organic looking volume for use with depthkit but can be used without it as well. (As far as I know this is not yet possible in Blender).
You can of course simply import the alembic and use materials as you would normally do- make sure to untick flatten tracks.
You can also get better quality by playing around with some of these parameters as well.