Global UHT Milk Market to be Worth US$137.7 Billion by 2019: By Transparency Market Research
Albany,NY (PRWEB) September 30, 2014 -- Transparency Market Research, in a recent report, has stated that the global UHT milk market that was worth US$60.8 billion in 2012 will grow to an estimated value of US$137.7 billion by 2019. The report, ‘UHT Milk Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019’, also states that the worldwide market for UHT milk will grow at 12.8% CAGR during the forecast period of 2013 to 2019.
The report segregates the global UHT milk market on the basis of geography into North America, Europe, Asia-Pacific, and Rest of the World. The European UHT milk markets have flourished owing to the presence of increased competition in countries such as Spain, Germany, Italy, the U.K., and France.
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However, the overall consumption of milk in some parts of Europe has been on a decline in recent years, giving rise to a thriving UHT milk market in Asia-Pacific. Some of the major milk markets in the Asia-Pacific region include India, Pakistan, and Australia. Although the overall milk consumption in these countries is much higher compared to their UHT milk consumption, the large population base offers ample scope for growth of the UHT milk market. Rapid urbanization and growing apartment culture has led to the increasing consumption of UHT milk in these countries. Moreover, with unsteady global economic conditions, there has been a gradual shift from the consumption of pasteurized milk to UHT milk owing to lower price of UHT milk. This has had a positive impact on the demand and growth of the UHT milk market in Asia-Pacific.
China is an immensely attractive market for UHT milk. The global urban population in 2011 was more than 690 million, and China accounted for half of the number. Another 300-400 million people will belong to the Chinese urban population base by 2030. A large section of the urban population has been consuming UHT milk. In fact, 60% of the total milk consumed in China is UHT milk. The import of UHT milk has grown rapidly in recent years and market players have increased investments in the region expecting a healthy development. As a result, China is expected to register the fastest CAGR in terms of demand of UHT milk.
Australia is an emerging market for UHT milk, with rising number of consumers showing preference for stocked, packaged, and processed food items and beverages. Market analysts predict a healthy growth of the UHT milk market in the region during the forecast period.
The factors that drive the global UHT market include growing influence of western culture, reduced refrigeration space, and rising private companies offering low-priced brands of UHT milk. UHT milk vendors see huge potential in new dietary trends that have resulted in increasing consumption of milk in out-of-home environment such as at school and on the sports field. However, the unorganized nature of the UHT milk market and rising consumer concern regarding loss of nutritional value is expected to restrain the UHT milk market.
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Some of the major global UHT milk market players include Fonterra Co-operative Group Limited, Nestle SA, Lactalis Group, Murray Goulburn Co-operative Co. Limited, Inner Mongolia Yili Group Company Limited, and Danone Group. Leading regional competitors of the UHT milk market include Parmalat S.p.A (Italy), Dairy Partners Americas Brasil Ltda. (Brazil), Grupo Lala S.A.B. de C.V. (Mexico), Candia (France), DMK Deutsches Milchkontor GmbH (Germany), and Unternehmensgruppe Theo Müller GmbH & Co. KG (Germany).
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