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Global Evaporated Milk Market revenue is projected to reach US$ 1,162.8 Mn by 2027 from US$ 977.7 Mn in 2021. The market is registering growth at a CAGR of 2.8% over the forecast period 2022-2027. In terms of volume, the market is growing at a CAGR of 2.5% during the forecast period. Evaporated milk is also known as unsweetened condensed milk in some countries, is a shelf-stable canned cow’s milk product where about 60% of the water has been removed from fresh milk. It differs from sweetened condensed milk, which contains added sugar. The production process involves evaporation of 60% of the water from the milk, followed by homogenization, canning, and heat-sterilization. Evaporated milk also contains iron, calcium, and vitamin C and A, rendering it more nutritious than other variants, such as fresh, powdered, or condensed milk.
The growing impetus of the evaporated milk market is attributed to the high nutritional profile of evaporated milk as compared to regular milk and the rising food and beverage industry. Moreover, evaporated milk is also a convenient option while traveling, trekking, and camping. Primarily, this product does not need to be refrigerated and has a much longer shelf life. Furthermore, the introduction of dairy-free evaporated milk is an emerging opportunity in the market. However, the volatility in the prices of regular milk is hindering market growth.
The study of the global evaporated milk market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the evaporated milk industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the global evaporated milk market across 14 Chapters and, 166 pages. The report includes data presentation across 41 tables and 58 statistical figures.
The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein threat of substitutes and intensity of rivalry is high.
The subsequent section provides details of the market analysis based on different segments such as type, application, and region. The report includes a detailed study of the value chain of the industry. It includes raw material transportation, processing facilities, distributors, and end-users. The report also covers extensively the key competitors in the market for evaporated milk.
Key Takeaways from the Global Evaporated Milk Market Report
Global Evaporated Milk Market is segmented based on type, application, and region. The industry trends in the global evaporated milk market are sub-divided into different categories in order to get a holistic view of the global evaporated milk market.
Following are the different segments of the global evaporated milk market:
By Type Segment of the Global Evaporated Milk Market is Sub- Segmented into:
By Application Segment of the Global Evaporated Milk Market is Sub- Segmented into:
By Region Type Segment of the Global Evaporated Milk Market is Sub- Segmented into:
|Market Size Value in 2021||US$ 977.7 Mn|
|Expected Revenue in 2027||US$ 1,162.8 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, Application, and Region|
|Key Companies||Nestle, Envictus, O-AT-KA, DANA Dairy, Alaska Milk Corporation, and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Global Evaporated Milk Market is projected to grow at a CAGR of 2.8% during the forecast period 2022-2027.
Evaporated milk or unsweetened condensed milk is fresh homogenized milk made from canned cow’s milk that has 60% of the water removed.
Evaporated milk is slightly darker than fresh milk due to its slightly caramelized flavour resulted from the high heat process.
Factors such as high nutritional profile of evaporated milk as compared to regular milk and the continuously growing food and beverage industry.
The retail segment is estimated to have the highest market share during the forecast period.
Asia Pacific is projected to have the highest CAGR in the global evaporated milk market.
The market has been classified into North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America.
Volatility in the regular milk prices is affecting the production and cost of the evaporated milk, which is anticipated to negatively restrain the market growth.
China is the highest shareholder in the Asia Pacific evaporated milk market.
Spain is expected to grow at the fastest CAGR in the Europe Evaporated Milk Market during the forecast period.
Whole Evaporated Milk segment is estimated to have the highest market share during the forecast period.
Nestle, Arla Foods, Fraser and Neave, Friesland Campina, Yotsuba Milk Products Co. Ltd, Envictus, DANA Dairy, Alaska Milk Corporation, DMK Group and Eagle Family Foods among others.