Condensed milk refers to a form of milk that has been produced by evaporating the moisture from the milk. In this process, about 60 percent of water is removed from the milk. Condensed milk is thick and rich with many nutritional benefits. The evaporation of milk is done to raise the shelf life of the condensed milk. The use of condensed milk in food preparation provides a better texture and helps in improving conservation. The condensed milk helps in influencing color by the lactose and protein reaction with some other reducing sugars during boiling and cooking.
MARKET SCOPE
The "Global Condensed Milk Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the condensed milk market with detailed market segmentation by type, distribution channel. The report provides key statistics on the market status of the leading condensed milk market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global condensed milk market is segmented into skimmed, part skimmed, sweetened, unsweetened, and flavoured.
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, convenience stores, online retail, others.
MARKET DYNAMICS
Drivers:
- Surging consumption of condensed milk as a preservative and flavouring agent.
- Rising urbanization and increasing per capita disposable income to boost market growth of condensed milk.
- Condensed milk is used as an essential ingredient in several cuisines due to which it is gaining demand across the globe. Rising trend of gourmet cooking is boosting the consumption of condensed milk as a food dressing.
- New market players are entering the market owing to the easy availability of raw materials and low capital requirement.
Restraints:
- Unorganized retail sector in few developing countries
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The condensed milk market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the condensed milk market in these regions.
IMPACT OF COVID-19 ON CONDENSED MILK MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. During this covid-19 outbreak, the future of business, market price fluctuations uncertainty about future are growing among the people.
MARKET PLAYERS
The report covers key developments in the condensed milk market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from condensed milk market are anticipated to lucrative growth opportunities in the future with the rising demand for condensed milk in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the condensed milk market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Alaska Milk Corporation
- GCMMF (Amul)
- Borden Dairy Company.
- Goya Foods, Inc.
- Hochwald Foods GmbH
- Magnolia Inc.
- Meijer Inc.
- Nestl? S.A.
- Zhejiang Panda Dairy Products Co., Ltd.
- Keva Flavours Pvt. Ltd.
- THESTAYATHOMECHEF
- Jus amazin
- MORINAGA MILK INDUSTRY CO. LTD.
- Windmill Organics
- California Farms
- Royal Friesland Campina N.V.
- Iberia Foods Corp.
- Eagle Family Foods Group LLC
- Jans Enterprises Corp.
- WS Warmsener Spezialitaten GmbH.