Global Evaporated Milk Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Evaporated Milk Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Evaporated milk can be made from whole milk or skim milk. In either case, the milk is homogenized and then the water is removed by gently heating it. The evaporated milk product is sealed in cans which are then heated to kill any bacteria in the milk. Thus evaporated milk is actually sterile, which, combined with the fact that it is stored in airtight cans, gives it an extremely long shelf life.

Market Overview:

The latest research study on the global Evaporated Milk market finds that the global Evaporated Milk market reached a value of USD 7206.73 million in 2022. It’s expected that the market will achieve USD 9088.46 million by 2028, exhibiting a CAGR of 3.94% during the forecast period.

Evaporated milk has a longer shelf life, which has boosted demand in dairy-deficient regions.

Evaporated milk is attractive for some uses because it has a shelf life of months or even years, depending on the fat and sugar content. This makes evaporated milk very popular as a safe and reliable alternative to perishable fresh milk before refrigeration because it can be easily transported to places where milk is not safely produced or stored.
The growth of the evaporated milk market is also attributable to the demand for milk in countries with insufficient product supply and insufficient quality. In areas where refrigeration is unreliable, light milk is a good alternative to regular milk, as there is no risk of spoilage or illness due to the consumption of expired dairy products. Evaporated variants are also cheaper than dairy brighteners and are therefore favored by consumers and foodservice operators.
Evaporated milk is also a convenient option when traveling, hiking and camping. First, the product does not need to be refrigerated and has a longer shelf life. In addition, it is easier to transport because it is light, non-messy and does not require any special packaging.

Changes in the price of raw materials and the availability of alternatives are the reasons for limiting the market growth.

Considering that evaporated milk is a by-product of ordinary milk, any fluctuation in the price of upstream products will affect the production cost of evaporated milk. This can be a major constraint on market growth. In addition, there are various other dairy products on the market, such as milk, milk powder, condensed milk, and other products that can replace evaporated milk, which also limits the market growth.

Region Overview:

Geographically, Europe held the largest market share – 33.93% in 2022.

Company Overview:

Nestle is one of the major players operating in the Evaporated Milk market, holding a share of 29.7% in 2023.

Nestle

Nestlé S.A. is a Swiss multinational food and beverage processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland. Nestle S.A. manufactures and markets a wide range of food products. The Company's product line includes milk, chocolate, confectionery, bottled water, coffee, creamer, food seasoning and pet foods.

Arla

Arla Foods amba is a Scandinavian multinational cooperative based in Viby, Denmark, and the largest producer of dairy products in Scandinavia. Arla Foods Limited processes and distributes dairy products. The Company provides milk, cream, butter, spreads, cheese, yogurt, and custard.

Segmentation Overview:

As for product types, the Skimmed segment held the largest market share in 2022.

Application Overview:

By application, the Confectionery segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Evaporated Milk market covered in Chapter 3:

Marigold
DMK GROUP
Eagle Family Foods
Alaska Milk
Gloria
DANA Dairy
Zhejiang Panda Dairy
Alokozay Group
Nestle
O-AT-KA Milk Products
Yotsuba Milk Products
Nutricima
FrieslandCampina
Fraser and Neave
Delta Food Industries FZC
Arla

In Chapter 4 and Chapter 14.2, on the basis of types, the Evaporated Milk market from 2018 to 2029 is primarily split into:

Regular
Skimmed

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Evaporated Milk market from 2018 to 2029 covers:

Infant formula
Dairy products
Prepared dry mixes
Confectionery
Bakery
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)