DUBLIN, June 6, 2023 /PRNewswire/ — The “Global Condensed Milk Market Size, Trends, By Milk Type, By Product Type, By Packaging Type, By Distribution Channel, and By Region: Global Opportunity Analysis and Industry Forecast, 2023-2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Condensed Milk Market was valued at US$ 7.87 Bn in 2022, estimated to reach US$ 10.9 Bn by 2030, with a CAGR of 4.11% from 2023-2030.
Market Drivers
The global market for condensed milk is primarily driven by the increasing demand for dairy products and their versatile applications in the food and beverage industry. Additionally, the rising popularity of sweetened condensed milk in various baked goods, desserts, and beverages is contributing to the growth of the market.
Moreover, the increasing adoption of condensed milk as an ingredient in various processed food products due to its extended shelf life and low cost is expected to fuel market growth in the coming years. Furthermore, the growth in the global population and disposable income levels is also anticipated to boost the demand for condensed milk, particularly in developing regions.
Market Restraints
One of the major restraints to the growth of the global condensed milk market is the increasing concern among consumers regarding the high sugar content and the use of preservatives in condensed milk. With the rising awareness about health and wellness, consumers are increasingly opting for low-calorie and low-sugar alternatives, which is affecting the demand for condensed milk.
Another significant restraint to the market growth is the fluctuating prices of raw materials such as milk and sugar. The price volatility of these raw materials affects the profit margins of manufacturers, and they may be forced to increase the prices of their products, leading to decreased demand.
Market Segmentation
The scope of the global condensed milk market covers segmentation based on milk type, product type, packaging type, distribution channel, end-user, and region.
Based on milk type, the global condensed milk market is segmented into dairy and non-dairy. Based on product type, the market can be segmented into sweetened condensed milk and unsweetened condensed milk. Based on packaging type, the market is segmented into cans, pouches, bottles, and others.
Further, the market is segmented by distribution channels, such as supermarkets/hypermarkets, convenience stores, online stores, and others.
Regional Analysis
The global condensed milk market is segmented into 5 main regions, namely, North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia-Pacific region is expected to observe fast growth in the global condensed milk market due to the high consumption of dairy products. The growing population and urbanization in these countries have also contributed to the increasing demand for condensed milk. Furthermore, the popularity of traditional desserts and sweets in this region that incorporate condensed milk has also driven market growth.
Market Taxonomy
By Milk Type
- Dairy
- Non-Dairy
By Product Type
- Sweetened Condensed Milk
- Unsweetened Condensed Milk
By Packaging Type
- Cans
- Pouches
- Bottles
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
By Region
North America
- U.S
- Canada
- Mexico
Latin America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Venezuela
- Rest of Latin America
Europe
- Germany
- France
- UK
- Russia
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- New Zealand
- Singapore
- Malaysia
- Rest of Asia Pacific
Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest Middle East & Africa
Key Questions Addressed by the Report
- What are the key opportunities in the Global Condensed Milk Market?
- What will be the growth rate from 2023 to 2030?
- Which segment/region will have the highest growth?
- What are the factors that will impact/drive the market?
- What is the competitive landscape in the industry?
- What is the role of key players in the value chain?
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Condensed Milk Market Outlook
5 Global Condensed Milk Market, By Milk Type
6 Global Condensed Milk Market, By Product Type
7 Global Condensed Milk Market, By Packaging Type
8 Global Condensed Milk Market, By Distribution Channel
9 Global Condensed Milk Market, By Region
10 North America Condensed Milk Market Analysis and Forecast (2023-2030)
11 Europe Condensed Milk Market Analysis and Forecast (2023-2030)
12 Asia Pacific Condensed Milk Market Analysis and Forecast (2023-2030)
13 Latin America Condensed Milk Market Analysis and Forecast (2023-2030)
14 Middle East Condensed Milk Market Analysis and Forecast (2023-2030)
15 Competitive Analysis
16 Company Profiles
Companies Mentioned
- Nestle SA
- Eagle Family Foods
- Amul
- Goya Foods Inc
- Dana Dairy
- J.M. Smucker Company
- Alaska Milk Corporation
- Santini Foods Inc
- Arla Foods
- Hochwald Foods GmbH
- Royal FrieslandCampina
For more information about this report visit https://www.researchandmarkets.com/r/oftemr
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:https://www.prnewswire.com/news-releases/global-condensed-milk-market-report-2023-sector-to-reach-10-9-billion-by-2030-at-a-4-1-cagr-301843365.html
SOURCE Research and Markets
