Global Evaporated Milk Market Size, Share, Growth Analysis, By Type(Skimmed and Whole), By Distribution Channels(Online and Offline)

Description

Global Evaporated Milk Market size was valued at USD 2.68 Billion in 2022 and is poised to grow from USD 2.74 Billion in 2023 to USD 3.26 Billion by 2031, at a CAGR of 2.20% during the forecast period (2024-2031).

The inclusion of evaporated milk as an ingredient in recipes, particularly in baked goods and desserts, is on the rise, reflecting shifting consumer preferences. The market for evaporated milk is expanding, with the Asia-Pacific region leading in global consumption, accounting for over 60%. For example, FrieslandCampina launched Rainbow Evaporated Milk in the UAE in December 2021, featuring eco-friendly packaging. Evaporated milk, with its lower calorie and fat content compared to regular milk, is increasingly viewed as a healthier option by health-conscious consumers. Its nutritional benefits, including high calcium and other essential vitamins and minerals, make it an attractive choice for those looking to boost their dietary intake. Additionally, its longer shelf life and versatility in various dishes and beverages, such as coffee and smoothies, contribute to its growing demand. However, its production cost may be affected by fluctuations in the price of raw milk, potentially hindering market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Evaporated Milk Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Evaporated Milk Market Segmental Analysis

Global Evaporated Milk Market is segmented on the basis of type, distribution channels and region. By type, the market is segmented into skimmed and whole. By distribution channels, the market is segmented into online and offline. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Evaporated Milk Market

The rise in plant-based and dairy-free diets has spurred manufacturers to develop evaporated milk substitutes using soy, almond, coconut, and other non-dairy ingredients. These alternatives mimic the flavor and consistency of traditional evaporated milk while being free from lactose and animal-derived components. This shift in consumer preferences is fueling advancements and expansion within the non-dairy evaporated milk sector.

Restraints in the Global Evaporated Milk Market

Evaporated milk is renowned for its elevated fat content, potentially leading to weight gain and assorted health complications. Furthermore, certain producers incorporate sugar into their evaporated milk offerings to enhance flavor, heightening the likelihood of diabetes and related ailments. Consequently, these apprehensions may prompt individuals to diminish their intake of evaporated milk or opt for more nutritious substitutes.

Market Trends of the Global Evaporated Milk Market

The rising consumer preference for organic and natural items, devoid of synthetic additives and preservatives, is fueling the demand for organic evaporated milk. This type of milk is derived from cows raised organically, without the use of hormones or antibiotics. Furthermore, certain producers are catering to this trend by offering evaporated milk options that are void of artificial flavors, colors, and preservatives.

Product Code: SQMIG30I2305

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Evaporated Milk Market by Type

Market Overview
Skimmed and Whole

Global Evaporated Milk Market by Distribution Channels

Market Overview
Online and Offline

Global Evaporated Milk Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Nestle (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
FrieslandCampina (Netherlands)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Arla Foods (Denmark)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eagle Family Foods Group LLC (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Olam International (Singapore)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Glanbia plc (Ireland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fraser and Neave Limited (Singapore)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dana Dairy Group (Switzerland)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Alaska Milk Corporation (Philippines)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gujarat Cooperative Milk Marketing Federation Ltd. (India)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Murray Goulburn Co-operative Co. Limited (Australia)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dairymen's League Cooperative Association, Inc. (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Candia (France)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Liberty Gold Fruit Company (United States)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Holland Dairy Foods (Netherlands)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Namyang Dairy Products Co., Ltd. (South Korea)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Pacific Dairy Ingredients (New Zealand)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Yotsuba Milk Products Co., Ltd. (Japan)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Senel (Turkey)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Promac Enterprises, Inc. (Philippines)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Delta Food Industries FZC (United Arab Emirates)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Evaporated Milk Market Size, Share, Growth Analysis, By Type(Skimmed and Whole), By Distribution Channels(Online and Offline) - Industry Forecast 2024-2031