Ultrafiltered Milk Market Outlook
Nowadays, the dairy industry is dealing with various challenges such as slow-down in demand from developing countries, fluctuation in the pricing system, and rampant corruption in the dairy industry. Despite this, the long-term outlook for the dairy industry seems positive due to rising population, changing lifestyle, and increasing demand for health and nutritional food products globally. Milk is the one of the most produced and appreciated agricultural commodities globally owing to rising disposable income in emerging markets, growing demand for healthy and clean label products, and accelerating demand for protein consumption which will drive the innovation in the market. Before 2017, Canada changed its policy and stopped importing milk from the U.S., owing to which there has been an oversupply of milk in the U.S. for over a year resulting in financial pressure for dairy farmers. However, this supply and demand imbalance lead to increase in the production of ultrafiltered milk and create a new marketplace for ample milk supplies. Ultrafiltered milk is also known as diafiltered milk which is a subcategory of milk protein concentrate which has become a more widely available product in the market. Ultrafiltered milk offers various health benefits such as it contain more protein, calcium, vitamins & minerals, lactose-free, and less sugar than ordinary milk, thus the product offering resonates well with the consumer’s growing demand. Changing consumer preferences, and demanding for nutritional products has created a new platform for ultrafiltered milk in the market. It can be used to produce fresh dairy-based food and beverages that are rich in protein, lower sugar, and carbohydrates than ordinary milk.
Reasons for Covering Ultrafiltered Milk Market Title
Expanding dairy industry, rising consumer awareness, rapidly growing demand for high protein milk products, increasing prevalence of lactose intolerance in adulthood, innovation in product packaging, accelerating online sales channel that helps in distributing the FMCG products directly to end-use consumers are the some of the reasons for focusing on ultrafiltered milk market. Moreover, companies are seeking for a natural dairy ingredient for cheese making, and are focused on inorganic growth through partnership with retailers to reinvest in the dairy products to change the customer perception and past product experience. However, stringent government regulations, consumers are inclining towards non-dairy products, the presence of alternative products in the market with high market penetration, and price fluctuation in the dairy market are some of the factors that may hinder the growth of global ultrafiltered milk market during the forecast period.
Global Ultrafiltered Milk: Market Segmentation
On the basis of type, the global ultrafiltered milk market has been segmented as –
- Skimmed Milk
- Whole Milk
On the basis of application, the global ultrafiltered milk market has been segmented as –
On the basis of the distribution channel, the global ultrafiltered milk market has been segmented as –
- Store-based Retail
- Convenience Stores
- Specialty Stores
- Independent Stores
- Store-based Retail
- Online Retail
Market Share for Ultrafiltered Milk Market by Application, 2017
Global Ultrafiltered Milk Market: Key Players
Some of the key players operating in the global ultrafiltered milk market are The Coca-Cola Company, HP Hood LLC, Idaho Milk Products, Inc., Fonterra Co-operative Group, Kerry Group, Tatura Milk Industries Ltd., Darigold Ingredients Company, Erie Foods International, Inc., Enka Sut Company, Grassland Dairy Products, and others.
Region Wise Market Presence of Key Manufacturers in Global Ultrafiltered Milk Market
Consumers are demand for processed cheese food, a wide range of nutritional products, clean label products, increasing supply chain channel, and frequently launch of novel products are some of the leading factors driving the growth of the global premiumization milk market. Moreover, the rise in demand for a natural and concentrated form of milk in cheese making with flexible labeling restrictions, innovation across the value-added dairy industry, product premiumization, and a launch of the product with new packaging, and growing research and development activities are expected to raise the ultrafiltered milk market during the forecast period.
Global Ultrafiltered Milk Market: Key Developments
- In June 2018, The Coca-Cola Company has introduced new ultrafiltered milk ‘Fairlife’- a high protein ultrafiltered milk, in Canada market and planned to establish a new production facility to in Peterborough, Ontario by 2020. The company has launched the ultrafiltered milk to expand its market footprint along with customer base globally. The product was launched in 2014 in Minnesota and is distributed across the US market.
- In 2017, The U.S. Food and Drug Administration announced that ultrafiltered milk can now be used to make all any of natural cheese products. The ultrafiltered milk is the fresh farm milk develop through a filter process to minimize the amount of water and lactose and focus on the natural proteins. This will allow cheesemakers to use ultrafiltered milk with natural and concentrated form in cheese making products.
Opportunities for Global Ultrafiltered Milk Market Participants
Growing demand for dairy products, increasing product penetration or adoption rate in developing countries, coupled with collaborating with local dairy farmers for producing high-quality milk products are the factors due to which ultrafiltered milk market revenue is expected to grow at a rapid growth rate, over the forecast period. Moreover, rise in demand for lactose-free milk, expanding distribution channel for product availability, and re-design or new product development is the primary factors seems to create the opportunities for the global ultrafiltered milk market in the near future.
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