The Global evaporated milk market was valued at USD 5,484.1 Million in 2021. It is projected to rise to USD 7,157.10 Million by 2032. The market is forecast to experience a 2.45% CAGR over the forecast period.
Evaporated milk (or unsweetened milk) is shelf-stable from canned cow's dairy milk. 60% of the milk is removed. It is also available in liquid form with a shelf-life of 18-24 months. The high nutritional content of evaporated milk will drive demand for this product. Market growth is also expected to be fueled by the ever-growing food and beverage industry.
The market growth is expected to be affected by fluctuations in the regular milk price. Evaporated milk also contains more milk proteins than regular milk and less lactose per unit. This means that it cannot be consumed by people with lactose intolerance. This further restricts the market growth.
The Global Evaporated Milk market is forecast to grow at a substantial rate between 2022-2032. Market growth is steady in 2021. Key players are adopting more strategies, which will lead to a rise in the market over the forecast period.
Evaporated milk, also known in certain countries as unsweetened milk or condensed milk, can be stored on a shelf and contains approximately 60% of fresh milk water.
Evaporated milk is made from either whole milk or skim. Evaporating milk can be made either from whole milk or skim. After homogenizing the milk, it is heated gently to remove the water. The evaporated milk product then goes into cans, which are heated to kill any bacteria. The fact that evaporated milk is sterile is combined with the fact it is kept in airtight containers, which gives it very long shelf life.
Evaporated milk market in Europe will reach USD million by 2022 if the United States and China have a CAGR of 4.8%. The US is represented at % in 2022. China is at %. China is projected to have a market share of % by 2032. There has been a CAGR rate of % during the analysis period. For the Europe Evaporated Milk Landscape, Germany is projected at USD million by 2032. South Korea and Japan will be the prominent markets in Asia. The CAGR for the next 6 years is %, and %, respectively.
Nestle and GLORIA are the main industry producers. They accounted respectively for 17.26%, 10.68% and 8.94% as well as 4.43%, 3.53% and 3.57% in 2019 revenues.
Europe is the region with the highest income share at around 52.72%.
This report covers Evaporated Milk volume & value at three levels. Globally, the report shows Evaporated Milk market size. It analyzes historical data and forecasts. The report is divided into several regions, including North America, Europe China, Japan, and South America.
Higher nutritional profile than regular dairy milk
Evaporated milk is rich in nutrients, as 60% of the water has been removed. According to the Code of Federal Regulations evaporated milk contains 16.5% milk solids not-fat, a minimum of 6.5% dairy fat, and 23% total solids.
The global food and beverage industry is experiencing rapid growth. This is boosting demand for healthier options to regular food products such as milk. The industry has many uses for evaporated milk. It's used in smoothies as well as soups, chowders (creamy soups), oatmeal, and savory condiments. The market is expected to grow due to all these applications and the growing food-and-beverage industry.
Nestle
Arla
Fraser and Neave
Friesland Campina
Marigold
DMK GROUP
Eagle Family Foods
O-AT-KA Milk Products
Leche Gloria SA
DANA Dairy
Delta Food Industries FZC
Yotsuba Milk Products
Senel Bv
Zhejiang Panda Dairy
Envictus
Alaska Milk
Alokozay Group
What is the global Evaporated Milk Market size?
What are the inhibiting factors and what is the impact of COVID-19 on the Global Evaporated Milk Market over the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Evaporated Milk Market?
What is the best competitive strategy window to seize opportunities in the Global Evaporated Milk Market?
What are the technological trends and regulatory frameworks for the Global Evaporated Milk Market (GEM)?
What is the market size of the major players in the Global Evaporated Milk Market?
What strategies and modes of entry are most favorable to the Global Evaporated Milk Market Entry?