UHT Milk Market: Growth Forecast Analysis by Manufacturers, Regions, Types and Applications to 2019
UHT
milk is the liquid milk sterilized at an ultra-high temperature (UHT)
that imparts it an extended shelf life. The growing consumer
preference for UHT milk is primarily driven by its ability to be
stored at room temperature for longer time, without the need for
refrigeration. The global milk market has been observing a major
consumer shift from normal milk to UHT milk since the past few years.
The global UHT milk market registered revenues worth US$ 60.8 Bn in
2012, which are expected to raise up to US$ 137.7 Bn by the end of
2019. Over the forecast period 2013-2029, the global UHT milk market
will expand at a healthy CAGR of 12.8%.
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Key
Market Dynamics
Consuming
milk while on the go has become a popularly growing trend within the
recent past, which is one of the primary factors driving the demand
for UHT milk worldwide. People nowadays have extremely busy schedules
and are forced to seek better alternatives to ordinary liquid milk
that need refrigeration, yet has a limited time span when it comes to
safe milk consumption. UHT milk is the most sought after alternative
to normal milk. It has longer shelf life and does not require cold
storage environment. It can be stored at room temperature, which is
another key factor that will continue to fuel the demand in the
global market. Where conventionally treated milk requires a highly
efficient cold storage chain that is mobile and functions with high
efficiency, UHT milk eliminates this condition to serve both
manufacturers and distributors, as well as consumers who do not own
refrigerators. The market is expected to gain the maximum traction in
developing regions, where the scarcity of cold storage spaces
persists over the years. In addition to higher birth rate in
developing regions, there is a growing number of athletes,
weightlifters, and bodybuilders worldwide, who consume milk on a
daily basis and even need to carry it at times. The global UHT milk
market has a big untapped opportunity here, which is anticipated to
raise the demand for personal storage packs of UHT milk. A sizeable
consumer population is still reluctant about adoption of UHT milk, as
the nutritional value of this milk is often lost during the milk
treatment, processing, and storage. This is expected to pose a major
restraint to the global market for UHT milk.
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Segment
Analysis
The
global UHT milk market is segmented on the basis of product and
animal type (source).
Regional
Analysis
Based
on geographical region, the global UHT milk market is segmented into
North America, Europe, Asia Pacific, and rest of the world. Europe
has been an early adopter of UHT milk, and currently leads the global
market owing to the maximum market penetration. However, subsequent
to the recent Euro-zone-crisis, Europe is foreseen to witness a
decelerating market over the forecast period 2013-2019. Asia Pacific
will however register substantial growth through to 2019, led by
China which is one of the largest milk consumers across the globe.
Urbanization is on the rise in China, and over 60% of the total milk
consuming population in the country prefers UHT milk. Australia will
also emerge as a lucrative market for UHT milk. India is however
estimated to witness a slower growth rate, attributed to an
established fresh milk market in this region. Brazil and a few other
countries in Latin America are also expected to witness significant
growth over the forecast period.
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Key
Market Players
The
global UHT milk market is beneficially competitive, and comprises a
number of leading international producers as well as regional
players. In addition, a large number of supermarkets own their own
UHT milk brands. These brands are further distributed under leading
private labels and regional dairy processors. Price reduction has
been a longstanding winning strategy for key market players. Some of
the leading companies to mention are Nestle SA, Groupe Lactalis S.A.,
Danone Limited, China Mengniu Dairy Company Limited, Grupo Lala,
S.A.B. de CV, Candia SA Inner Mongolia Yili Industrial Group Co.
Ltd., Fonterra Co-operative Group Limited, and Parmalat.
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