UHT Milk Market to Reach 124.77 Million Tons by 2024 - Prominent Players are Lactalis Group, Nestle, Danone, Arla Foods, Fonterra Co-operative Group, Sodiaal Group, and Bright Dairy
DUBLIN, Feb. 10, 2020 /PRNewswire/ -- The "Global UHT Milk Market: Focus on Type (Whole, Skimmed, Semi-Skimmed), Distribution Channel (Institutional and Retail), and Region - Analysis and Forecast, 2019-2024" report has been added to ResearchAndMarkets.com's offering.
According to the report, the UHT milk market is expected to reach 124.77 million tons by 2024, increasing at a CAGR of 4.57% from 2019 to 2024. Market growth is largely attributed to the adoption of UHT milk that is available in the form of skimmed and lactose-free variants.
The need for fresh, clean, and nutritious milk is driving the demand for alternatives to fresh milk from dairy consumers across the globe. According to the United Nations, the global population is expected to reach 9.7 billion by 2050 as compared to 7.7 billion as of 2018. The increasing population requires equally high availability of hygienic milk, which is considered a basic food item globally.
Moreover, increasing urbanization has also induced a fast-paced lifestyle amongst individuals, which makes it easier for them to buy packaged food and beverage items. Identifying these global factors, various companies have currently come up with a range of UHT milk products, which are enhanced with vitamins and minerals to fulfill nutritional requirements for bodily functions. Additionally, they are also available in a lactose-free variant, which is offered for the specialized need of those who are highly lactose intolerant.
The traditional milk offered to consumers is usually only pasteurized, resulting in the shelf life of only a few days. The treatment of fresh dairy milk under ultra-high temperature ensures that the milk can be packed and stored for a longer period. Increasing commercialization of the dairy industry across the globe is driving the demand for better milk products since it is one of the basic food items consumed by human beings.
The key companies in the UHT milk market have currently engaged in numerous expansion and innovation activities to improve their market presence. It is expected that by 2024, more technologically advanced companies will enter the UHT milk industry; moreover, resources may consolidate further in the coming future.
In 2018, the UHT milk market by milk type is dominated by the UHT whole milk segment. This type of milk is predominantly consumed by growing children, pregnant women, and bodybuilders to solidify the presence of good fat in the body.
The UHT skimmed milk is the most upcoming segment for the UHT milk market in the coming years, with health-conscious individuals opting for this type of milk. The urban culture has induced a fit and healthy sense of living amongst the individuals, which is expected to reflect in the increased consumption of skimmed milk.
Some of the most prominent players in the UHT milk market are Lactalis Group, Nestle S.A., Danone S.A., Arla Foods, Fonterra Co-operative Group, Sodiaal Group, and Bright Dairy. The result of the emerging strategies and developments are leading to market growth in the form of business expansions, partnerships, collaborations, and joint ventures. Moreover, the growing market of UHT milk is further expected to increase the involvement of companies across different segments of the value chain, such as distributors.
The majority of the companies preferred offering their product to new regions, such as Asia-Pacific and the Middle East, while the relatively less adoptive strategies comprising product launches, thus consolidating a small part of the market. Mergers and acquisitions across the value chain of the UHT milk industry presented a major strategic move made by a large number of companies since 2016. For instance, in April 2017, Danone S.A. acquired WhiteWave Foods to operate in North America as DanoneWave. Earlier, in January 2019, Lactalis Group acquired Prabhat Dairy in India to increase market presence and product offerings in the region.
This report is a meticulous compilation of research on more than 100 players in the UHT milk market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 15 leading companies across the UHT milk industry supply chain. Key profiles include Lactalis Group, Nestle S.A., Danone S.A., Arla Foods, Fonterra Co-operative Group, Sodiaal Group, and Bright Dairy, among others.
Key Questions Answered
- How is UHT milk a viable solution to the increasing global milk demand?
- What are the major factors promoting the uptake of UHT milk?
- How is the associated high cost affecting the overall adoption of UHT milk?
- How competitive is the industry in terms of market developments by key players such as business expansions, collaborations, acquisitions, agreements, and new product developments?
- What are the key strategies, both inorganic and organic, that are being adopted by market participants to expand their market share, regionally as well as in new product lines?
- What has been the impact of market forces in the global UHT milk market in the last three years?
- Which is the most common milk type offered to consumers in the UHT milk segment?
- What is the expected growth potential for different distribution channels during the forecast period?
- Who are the leading players offering UHT milk in the market?
- What is the expected future scenario and revenue generated by different types of milk?
- Which was the most dominant region in terms of UHT milk adoption, revenue generation, and presence of companies as of 2018?
- What are the internal and external factors that impact the company's positioning in the market?
Key Topics Covered
1 Market Dynamics
1.1 Market Drivers
1.1.1 Increasing Disposable Income and Urbanization
1.1.2 Longer Shelf Life and Convenience in Usage
1.1.3 Combating Lactose Intolerance
1.2 Market Restraints
1.2.1 High Cost of Packaging
1.2.2 Consumer Tastes and Preferences
1.3 Market Opportunities
1.3.1 Opportunities in Asia-Pacific, the Middle East, and Africa
1.3.2 Collaborations with Online Retailers
2 Competitive Landscape
2.1 Key Market Developments and Strategies
2.1.1 Business Expansion and Contracts
2.1.2 Mergers and Acquisitions
2.1.3 Partnerships, Collaborations, & Joint Ventures
2.1.4 Product Launches and Developments
2.2 Geographic Presence of Key Competitors
3 Industry Analysis
3.1 Industry Attractiveness
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Bargaining Power of Suppliers
3.1.4 Threat from Substitutes
3.1.5 Intensity of Competitive Rivalry
3.2 Supply Chain Analysis
3.3 Consortiums and Associations
4 Global UHT Milk Market (by Milk Type)
4.1 Market Overview
4.2 Whole Milk
4.3 Semi-Skimmed Milk
4.4 Skimmed Milk
5 Global UHT Milk Market (by Distribution Channel)
5.1 Market Overview
5.2 Direct/Institutional Sales
5.3 Retail Sales
5.3.2 Small Retail Stores
5.3.4 Others (Convenience Stores, Specialty Stores, and Kiosks)
6 Global UHT Milk Market (by Region), Million Tons, 2019-2024
6.1 Market Overview
6.2.1 Europe UHT Milk Market (by Milk Type)
6.2.2 Europe UHT Milk Market (By Distribution Channel)
6.2.3 Europe UHT Milk Market (by Country)
6.3 North America
6.5 Rest-of-the-World (RoW)
7 Company Profiles
7.1 Arla Foods
7.1.1 Company Overview
7.1.2 Role of Arla Foods in UHT Milk Market
7.1.3 SWOT Analysis
7.2 Danone S.A.
7.3 Nestle S.A.
7.4 Parmalat S.p.A.
7.5 Savencia Fromage & Dairy
7.6 Sodiaal Group
7.7 Inner Mongolia Yili Industrial Group Co. Ltd.
7.8 Fonterra Co-operative Group
7.9 Murray Goulburn Co-operative Co. Limited
7.10 Britannia Industries Limited
7.11 The Bel Group
7.12 Almarai Company
7.13 China Mengniu Dairy Company Limited
7.14 Bright Dairy & Food Co. Ltd.
7.15 Organic Valley
For more information about this report visit https://www.researchandmarkets.com/r/lpd3o6
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
View original content:http://www.prnewswire.com/news-releases/uht-milk-market-to-reach-124-77-million-tons-by-2024---prominent-players-are-lactalis-group-nestle-danone-arla-foods-fonterra-co-operative-group-sodiaal-group-and-bright-dairy-301001856.html
SOURCE Research and Markets