Global Evaporated Milk Market by Type (Skimmed and Whole), By Distribution Channel (Online and Offline), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Market Overview:

In 2021, the global evaporated milk market size was at USD 5,484.1 million and is expected to be worth around USD 7,157.10 million by 2032. and CAGR is expected to rise at 2.45% between the forecast period 2022 and 2032.

Evaporated milk which is a condensed form of fresh milk is also known as dehydrated milk. It has many health benefits that are superior to ordinary milk in comparison.

Evaporated Milk Industry growth is due to growth factors like a wide range of downstream applications, high nutrition value, long shelf lives, as well as the low price of milk. The demand for evaporated milk is also increasing due to evolving culinary trends.

Market Scope:

Type Analysis

The evaporated milk market can be divided on the basis of type: whole and skimmed. The largest evaporated milk market share, just over 58.0%, was held by whole evaporated milk in 2021. This type is used extensively in confectionery food products. Because it is creamy and has no sweetness, whole milk can be used in soups, gravies, and bechamel sauces. Whole milk is preferred over skimmed because of the rising demand for low-sugar confectionery products.

The forecast period will see the fastest CAGR at 2.5% for the skimmed evaporated segment. It is used in place of regular milk for the production of dairy products such as ice cream, yogurt, or other frozen desserts.

Distribution Channel Analysis:

The milk market for evaporated milk is divided by distribution channels into offline and online platforms. In 2018, the largest share was held by offline distribution channels, which accounted for more than 74%. The largest share of more than 74.0% in 2021 was held by offline channels.

The developed countries have high numbers of grocery stores, as well as smaller independent grocers that sell the products. The segment growth is expected to be boosted by the increasing number of organized retail outlets such as hypermarkets and convenience stores as well as mixed retailers.

Segmentation:

By Type:

• Skimmed
• Whole

By Distribution Channel:

• Online
• Offline

Evaporated milk Market Dynamics:

With the increasing demand for organic products, all nutritionalś benefits of evaporated milk are preserved, even though 60% of the milk’s water content has been removed. After homogenization, the product is canned and sterilized. Evaporated milk uses in the production of milk-based beverages and food processing, increasing evaporated milk demand in confectionery industries and in the beverage industry and it increases the rapid growth of food and beverages industries in the global market.

Demand for milk from countries with low product supply and poor quality is another key driving factor that drives the milk market growth. Evaporated milk is a great alternative to regular milk in areas where refrigeration is not possible. There is no risk of illness or spoilage that can be caused by the use of old dairy products. Demand for milk alternatives has increased in developing countries. Evaporated milk is also less expensive than dairy whiteners, and consumers love them.

Evaporated milk can also be used for camping, hiking, and other outdoor activities. This product doesn’t need to be refrigerated, and it has a longer shelf life. It is also easier to transport because it is lightweight, doesn’t need special packaging, and isn’t messy. However, evaporated milk is a byproduct of regular milk. This means that any price fluctuations of the upstream products will have an impact on the production cost of evaporated milk. This can be a significant inhibitor to the milk market growth. On the other side, the cost of evaporated milk affecting because of the fluctuation in milk production, and it is a big concern among evaporated milk manufacturers.

Regional Analysis

Europe is the largest region for evaporated milk. It accounted for over 31.5% of the market in 2021. The forecast period will see a CAGR rate of 2.4% due to the growing product demand for nutritious dairy products that contain low fat and sugar.

The government’s decision to tax high-sugar foods has raised concerns about sugar in food and beverages. This has prompted confectionery and dairy dessert manufacturers to reduce sugar in their products. This will create opportunities for market growth rate over the forecast period.

Asia Pacific is the fastest-growing regional market, with a CAGR of 2.7%. This is due to the high demand from developing countries like Thailand and Malaysia for milk alternatives. Evaporated milk which contains 6.5% of milk fat is becoming more popular as a substitute for regular milk in tea and coffee, also in bakery products and beverage products. These key factors, along with changes in dietary patterns, economic growth, and a growing confectionery sector, are expected to increase regional growth until 2032.

Key Regions and Countries covered in the rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape:

Nestle, DANA Dairy, and DANA Dairy are major market players. Fraser and Neave and Alaska Milk, and Friesland Campina, Yotsuba Milk Products are also key players. Expect to continue to be key success factors in the future, including new product launches and strong supply chains through strategic partnerships with distributors.

Evaporated Milk Market Key Players:

• Nestle
• Arla
• Fraser and Neave
• DANA Dairy
• Friesland Campina
• Eagle Family Foods Group LLC
• Delta Food Industries FZC
• Alaska Milk
• Yotsuba Milk Products
• O-AT-KA Milk Products Cooperative
• Other Key Players