The global market of UHT milk is driven due to shortage of proper refrigeration facilities in the developing countries, and busy schedule of urban population. As per P&S Market Research, the Asia-Pacific UHT milk market is anticipated to account for the fastest growth, with 20.6% CAGR during 2015 – 2020. The whole variant segment would witness the fastest growth with 14.4% CAGR during the forecast period. The supermarkets and hypermarkets accounted for the highest volume of sales among the various distribution channels in the global market.
Milk is one of the essential food products consumed in every family. However, owing to the perishable nature, regular liquid milk is not purchased by the end-users in large volumes. Therefore, UHT milk is consumed worldwide, as an alternative to regular milk. The evolving consumer trends, such as on-the go consumption of milk is also boosting the growth of the global market of UHT milk. Earlier, milk was usually consumed during the breakfast or dinner. However, during the past few years, a shift in dietary trends has led to its pervasive consumption. Now-a-days, milk is consumed by individuals while in school, playground, gymnasium, and office. The government in many countries has been providing milk to children for promoting their growth. The sports and business people carry milk, in order to consume it on-the-go. This trend has affected the growth of the global UHT milk market in positive terms, as they can be carried safely to places without the need for refrigeration.
With the increasing urbanization, the adoption of several trends related to lifestyle and well-being are in practice within the developing countries of Asia-Pacific, Middle East, and Africa. The growing apartment culture in countries, such as China and India is influencing the consumers to use products with larger shelf life. UHT milk accounts for approximately 60% share of the total milk consumption in China.
The weaker economic conditions in Europe have propelled the demand for cheaper products in the past few years. Milk being one of the inherent parts of everyday meal for the majority of European population, its affordability is important for most of the households. The private label UHT milk brands offered by supermarkets and hypermarkets are relatively cheaper than, those offered by established brands. This offsets the negative impact of economic slowdown, as the consumers have an option to switch towards the substitutes of their preferred brand in the economically crunch situation.
The major companies operating in the global UHT milk market include Nestle SA, Groupe Lactalis S.A., Fonterra Co-Operative Group Limited, Danone Limited, Grupo Lala, S.A.B. de CV, Sodiaal Group, Inner Mongolia Yili Industrial Group Co. Ltd., China Mengniu Dairy Company Limited, Devondale Murray Goulburn Co-Operative Co. Limited.
News Courtesy:P&S Market Research