Global Packaged Condensed Milk Market 2017-2021

Overview of the global packaged condensed milk market

Market research analysts at Technavio predict that the global packaged condensed milk market will grow steadily at a CAGR of around 4% by 2021. The increasing usage of condensed milk in the preparation of baked products, desserts, confectionaries, and beverages is identified as one of the primary growth factors for this market. Currently, condensed milk is used in a variety of baked products and desserts like pancakes, mousse, ice cream, cheesecake, and muffins.  In North America and Western Europe, the consumption of desserts is relatively high compared to other regions which indirectly increases the overall consumption of condensed milk. Moreover, numerous food and beverage players use condensed milk in their products. For instance, Le Herbe added new flavors to its cold brew coffee line like Sweet Dreams, which uses sweetened condensed milk. Consumers in countries like Vietnam and Myanmar use sweetened condensed milk as a sweetener in the preparation of coffee and tea. With the increase in global consumption of confectioneries and beverages, the usage of condensed milk is likely to increase during the forecast period.

In terms of geographic regions, the Americas will be the major revenue contributor to the packaged condensed milk market throughout the forecast period. Factors such as the high consumption of food and beverage products, baked products, confectioneries, and desserts using condensed milk in the region will drive the growth of the packaged condensed milk market. Also, the use of condensed milk for a variety of applications in countries such as the US, Brazil, Mexico will also fuel the market growth in the Americas.

Competitive landscape and key vendors  

Owing to the presence of several large and small scale players, the packaged condensed milk market appears to be highly-fragmented. Players in the market compete based on price, quality, innovation, service, reputation, distribution, and promotion. Therefore, to survive and succeed in this competitive environment, it becomes important for vendors in the market to differentiate their product and service offerings through a clear and unique value proposition.

The leading vendors in the market are -

• DANA Dairy
• Eagle Family Foods Group
• FrieslandCampina
• Nestlé
• Santini foods

The other prominent vendors in the market are Arla Foods, Bonny, Dairy Cooperative in Gostyń, eatdinosaurs, Erapoly Global, F&N Dairies, GCMMF (Amul), LTHFood Industries, Marijampolės pieno konservai, MDI, Olvebra Industrial, Promac Enterprises, Seprod, Vinamilk, and Zhejiang Panda Dairy Products.

Segmentation by product type and analysis of the packaged condensed milk market

• Packaged sweetened condensed milk
• Packaged evaporated milk

During 2016, the packaged sweetened condensed milk segment accounted for the major shares of the packaged condensed milk market. Factors such as the increased use of sweetened condensed milk as a substitute for fresh milk and a sweetener in beverages will contribute to the growth of this market segment in the coming years.

Segmentation by distribution channel and analysis of the packaged condensed milk market

• Supermarkets and hypermarkets
• Convenience stores
• Food and beverage specialists

According to this market research report, the supermarkets and hypermarkets segment accounted for the maximum shares of the packaged condensed milk market during 2016. The availability of a wide range of products and the convenience of finding all products under one roof will drive the market’s growth in this segment.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global packaged condensed milk market?
• What are the key market trends impacting the growth of the global packaged condensed milk market?
• What are the challenges to market growth?
• Who are the key vendors in the global packaged condensed milk market?
• What are the market opportunities and threats faced by the vendors in the global packaged condensed milk market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global packaged condensed milk market?

Technavio also offers customization on reports based on specific client requirement.

Dairy products are a popular food segment with a global market and diverse demographic. Dairy products are consumed worldwide by people of all age groups. Packaged condensed milk is used for salad dressing and sauces because of its thickening characteristics. This upcoming industry research report is an integral part of Technavio’s food and beverage industry and offers an in-depth study of the forthcoming markets like food and food service. To help clients gain a significant traction over other market players, Technavio provides vital information on several attributes of the food market such as the evolving consumer behavior and the demand-supply shifts for various markets across the globe. Technavio’s market research reports also provide extensive knowledge on all leading vendors in the food and beverage industry.

To effectively forecast the food industry’s growth prospects, our team of market research specialists undertake a triangulated research approach of primary and secondary data methods and also conduct a detailed study of the various parameters like the evolution of technology and the demand for primary products and services encompassing different geographical locations. To help clients create new policies for growth, our upcoming industry research report on the global packaged condensed milk market for the period of 2017 to 2021 offers actionable strategies derived from the data gathered from reliable sources of information such as manufacturers, channel partners, and decision makers.

This upcoming report on the global packaged condensed milk market also considers the growth of corresponding markets such as rice milk and soy and milk protein, which are expected to grow at a CAGR of almost 15% and about 10%, respectively by the year 2021. According to our market research analysts, the increased demand for processed and packaged dairy products is one of the prominent factor contributing to the growth of the food industry in the coming few years. Technavio also furnishes customized reports for many clients, which can aid local vendors and global players looking forward to augmenting their market position in the food and beverage industry.

The upcoming industry research report for the global packaged condensed milk market reveals the drivers, emerging trends, and the difficulties currently come across by the vendors in the food industry and also presents a detailed insight into the dynamically changing competitive landscape of the food and beverage industry.