Evaporated milk: Market outlook
The evaporated milk is the condensed form of fresh milk, with about 60% of the water content is removed. The evaporated milk is also popular as unsweetened condensed milk among consumers. In the global milk market, the demand for evaporated milk is increasing owing to its wide application in various end-use food products and beverages such as coffee, shakes, and others. According to the data from the national coffee association, the daily per capita consumption of coffee has increased from 2.24 cups in 2001 to 2.97 cups coffee in 2017. The evaporated milk is also gaining the popularity among the households as it has multiple application in various cuisines where it acts as a taste enhancer and also increases the texture. In the global evaporated milk market, the demand for evaporated milk majority accounts from North America and European market and Europe also accounts to world’s largest producer of evaporated milk.
Increasing Demand for Evaporated Milk in Food and Beverages
In the global evaporated milk market, the demand for evaporated milk is increasing in household purposes. The demand for evaporated milk is also increasing in the food and beverage industry. In addition, the demand for evaporated milk has remarkably increased in the bakery and confectionery industries. In the food and beverage industry, evaporated milk is mostly used in food processing and making milk-based beverages. In addition, it is also used in infant food. In the bakery and confectionary industry, the evaporated milk demand is increasing in bakery products and milk-based confectionaries. With the increasing demand for organic products, the manufacturers are launching their evaporated milk product. The evaporated milk is available in various packaging formats to cater to the demand for a broad range of customers. On the other hand, fluctuation in the milk production is affecting the cost of the evaporated milk, which is the major concern among the evaporated milk manufacturers and they are working on various strategies to overcome the problem.
Global Evaporated milk: Market Segmentation
On the basis of source, the global evaporated milk market has been segmented as-
On the basis of type, the global evaporated milk market has been segmented as-
- Low Fat
- Whole Milk
On the basis of Packaging, the global evaporated milk market has been segmented as-
- Tetra Packs
- Glass Bottles
On the basis of end use, the global evaporated milk market has been segmented as-
- Food and Beverages
- Infant Food
- Dairy Products
On the basis of Distribution Channel, the global evaporated milk market has been segmented as-
- Store-Based Retailing
- Grocery Retailers
- Modern Grocery Retailers
- Food Specialist
- Convenience Stores
- Forecourt Retailers
- Independent Small Grocers
- Traditional Grocery Retailers
- Other Grocery Retailers
- Non-grocery Retailers
- Mixed Retailers
- Other Non-grocery Retailers
- Grocery Retailers
- Online Retailing
Global Evaporated Milk: Key Players
Some of the key players operating in the global evaporated milk market are Nestle S.A., O-AT-KA Milk Products Cooperative, Inc., Eagle Family Foods Group LLC, Anchor, Armor, Premier Foods, Devondale, Sterling Agro Industries, Talmera, and others.
Opportunities for Market Participants:
Coffee has become one of the most favorite drink among the population due to fast-paced life and westernization. Increasing hotels, restaurants and café is also fueling the demand for evaporated milk owing to its application in many food recipes and beverages. Due to increasing flavor inspiration among the population, evaporated milk is popping up in more and more household aisle as the emergency stock of milk.
Global Evaporated Milk Market: A Regional Outlook:-
North America and Europe account for the highest production and consumption of evaporated milk and companies like Nestle S.A., O-AT-KA Milk Products Cooperative are situated there, it can be anticipated that the demand of the evaporated milk will increase in the forecast period. In addition, Asia Pacific witnessed a sturdy boom attributable to growth in population and growing food industries over the past few years. Increasing awareness and urbanization in the Middle East and African countries is expected to increase the consumption of evaporated milk in the forecast period.
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