Evaporated milk: Market outlook
The
evaporated milk is the condensed form of fresh milk, with about 60% of the
water content is removed. The evaporated milk is also popular as unsweetened
condensed milk among consumers. In the global milk market, the demand for
evaporated milk is increasing owing to its wide application in various end-use
food products and beverages such as coffee, shakes, and others. According to
the data from the national coffee association, the daily per capita consumption
of coffee has increased from 2.24 cups in 2001 to 2.97 cups coffee in 2017. The
evaporated milk is also gaining the popularity among the households as it has
multiple application in various cuisines where it acts as a taste enhancer and
also increases the texture. In the global evaporated milk market, the demand
for evaporated milk majority accounts from North America and European market
and Europe also accounts to world’s largest producer of evaporated milk.
Increasing Demand for Evaporated Milk in Food and Beverages
In the global
evaporated milk market, the demand for evaporated milk is increasing in
household purposes. The demand for evaporated milk is also increasing in the
food and beverage industry. In addition, the demand for evaporated milk has remarkably
increased in the bakery and confectionery industries. In the food and beverage
industry, evaporated milk is mostly used in food processing and making
milk-based beverages. In addition, it is also used in infant food. In the
bakery and confectionary industry, the evaporated milk demand is increasing in
bakery products and milk-based confectionaries. With the increasing demand for
organic products, the manufacturers are launching their evaporated milk
product. The evaporated milk is available in various packaging formats to cater
to the demand for a broad range of customers. On the other hand, fluctuation in
the milk production is affecting the cost of the evaporated milk, which is the
major concern among the evaporated milk manufacturers and they are working on
various strategies to overcome the problem.
Global Evaporated Milk: Key Players
Some of
the key players operating in the global evaporated milk market are Nestle S.A.,
O-AT-KA Milk Products Cooperative, Inc., Eagle Family Foods Group LLC, Anchor,
Armor, Premier Foods, Devondale, Sterling Agro Industries, Talmera, and others.
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Opportunities for Market Participants:
Coffee has
become one of the most favorite drink among the population due to fast-paced
life and westernization. Increasing hotels, restaurants and café is also
fueling the demand for evaporated milk owing to its application in many food
recipes and beverages. Due to increasing flavor inspiration among the
population, evaporated milk is popping up in more and more household aisle as the
emergency stock of milk.
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Global Evaporated Milk Market: A Regional Outlook:-
North
America and Europe account for the highest production and consumption of
evaporated milk and companies like Nestle S.A., O-AT-KA Milk Products
Cooperative are situated there, it can be anticipated that the demand of the
evaporated milk will increase in the forecast period. In addition, Asia Pacific
witnessed a sturdy boom attributable to growth in population and growing food
industries over the past few years. Increasing awareness and urbanization in
the Middle East and African countries is expected to increase the consumption
of evaporated milk in the forecast period.
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