New York City, New York, Oct 19, 2015: According to estimates from a new market study released by Persistence Market Research (PMR), titled “Global Market Study on UHT Milk: Asia Pacific to Witness Highest Growth by 2019”, the global UHT milk market is poised for a healthy compound annual growth rate of 12.8% from 2013 to 2019. The market, valued at US$60.8 billion in 2012, is estimated to be valued at US$137.7 billion in 2019.
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Less requirement for refrigeration space than regular milk is the first and foremost advantage of UHT milk, which makes it the best option for milk preservation. Fresh milk requires chill chains or cold chains throughout the supply chain, right from procuring from dairy farms until it is processed, packed, and distributed to consumers. Even under refrigeration, fresh milk can be preserved only for days and hence is not viable for long-term storage.
Lack of cold chains or chill chains in China and India, which are the largest consumers of milk, opens opportunities for UHT milk market. Additionally, in India, poor road infrastructure and other logistical problems restrains the development of cold chains in the country.
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Changing consumer habits and increasing Western influence is driving demand for UHT milk worldwide. In populous and rapidly developing Asian countries, higher disposable incomes and busy lifestyles have led to higher adoption of packaged foods and beverages. This has led to increased consumption of UHT milk in this region, due to its longer shelf life and consequent ease of use.
For dietary and health reasons, a new trend of consuming milk outside home, in schools, gymnasium, and on the sports field is catching up, which presents an opportunity for the global UHT milk market. In many schools, milk is provided to children to develop a healthy habit of drinking milk, which makes UHT milk highly suitable to serve large number of children.
In China, UHT milk accounts for a large proportion of total milk consumption, with rising urban population accentuating the growth of the market in this regional segment. Australia’s demand for UHT milk is also expected to surge in the coming years.
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However, in India, preference for fresh milk will lead to slow growth of the UHT milk market in the country. Presence of a large number of small unorganized dairy farmers in India, which supply raw cow and buffalo milk directly to households, is restricting the UHT milk market, in spite of favorable factors such as a large population base and increasing per capita income in the country.
Perception among some consumers about loss of nutritional value in UHT milk due to high temperature heating and other processes involved poses a challenge to the industry. Lack of education and prevalence of inaccurate ‘word of mouth’ beliefs in some countries is also emerging as a restraint for the UHT milk market.
On the vendor landscape, the UHT milk market comprises both domestic and global players. Due to high price-point competition between large players in this market, several retail distribution chains have developed their own products, known as private labels, which are low in price and quality.
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Some major domestic companies having a significant presence in prominent UHT milk markets are Parmalat, Dairy Partners America, and Candia. Some global players in the market are Nestle, Fonterra, and Lactalis.
Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.
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