Global Packaged Condensed Milk Market 2017-2021
About Packaged Condensed Milk
Packaged condensed milk is dehydrated cow's milk with a thick consistency. It is segmented as sweetened and unsweetened condensed milk. Unsweetened milk is also called evaporated milk, and thus many players refer to it as evaporated milk on their packaging. Dairy is one of the most popular food categories with a global market and diverse consumer base. Dairy products are consumed worldwide, by people of all age groups.
Technavio’s analysts forecast the global packaged condensed milk market to grow at a CAGR of 3.74% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaged condensed milk market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Packaged Condensed Milk Market 2017-2021
Technavio recognizes the following companies as the key players in the global packaged condensed milk market: DANA Dairy, Eagle Family Foods Group, FrieslandCampina, Nestlé, and Santini Foods.
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
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is demand for flavored condensed milk. Taste and demand for new flavors are becoming important factors for the players to keep the interest of consumers alive in the market. Thus, players are increasingly expanding their flavor portfolio by launching new flavors in condensed milk to attract consumers. Condensed milk is used in a variety of desserts, confectioneries, and bakery products.”
According to the report, one of the major drivers for this market is increasing usage of condensed milk in preparation of baked products and desserts. Currently, condensed milk is used in a variety of baked products and desserts like pancakes, mousse, ice cream, cheesecake, muffins, and others. In developed regions like North America and Western Europe, the consumption of desserts is high, which indirectly increases the overall consumption of condensed milk.
Further, the report states that one of the major factors hindering the growth of this market is growing health awareness among consumers. Despite the benefits of using condensed milk in the preparation of a variety of desserts, confectioneries, and bakery products, it has been found that sweetened condensed milk is high in calories as it is a dense mixture of milk solids and sugar. Thus, many consumers who are on a diet avoid consuming sweetened condensed milk products or consume them in small quantities.
DANA Dairy, Eagle Family Foods Group, FrieslandCampina, Nestlé, and Santini Foods. 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
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