The global Ultra High Temperature Milk Market is projected to reach USD 90.1 billion by the end 2025, according to a new report released by Million Insights. It is anticipated to grow at a CAGR of 7.8% over the forecast period, 2019 to 2025.Manufacturers are focusing on product innovation by adding organic ingredients and developing different flavors. Moreover, it has wide application in ready to drink products. These factors are expected to drive the market growth over the forecast period. For example, Fonterra Anchor which is one of the leading brands in dairy industry introduced a premium range of UHT milk named as LiveUp and NaturalUp. These products are rich in protein and have organic ingredients. They are sold through both online and offline channels. Furthermore, the useful life (shelf life) of this product is greater than the raw milk without adding any preservative as it is heated at 135 Degree Celsius temperature to kill microbes and other parasites. These properties are expected to propel the market growth over the forecast period,
Asia Pacific is expected to be the potential market for UHT milk, and it is to grow at the fastest CAGR of 5.2% throughout 2019-2025. Increasing consumption of dairy products in developing countries like India, Japan, and China is expected to fuel the growth. For example, India imported 58,595 metric tons dairy products which accounted for USD 110 million, in 2017. In 2018, Europe dominated the market with revenue share of 40.5%. Consumers from countries such as Holland, Germany, and Belgium highly consume dairy products which are expected to contribute to the growth of regional market.
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In 2018, the skimmed milk segment accounted for the largest market share of 48.9% and is anticipated to grow significantly over the coming years. Consumers who are inclined towards healthy lifestyle and have healthy drinking habits highly demand this product because of its low-fat content and high protein and vitamin content. The semi-skimmed UHT milk segment is projected to grow at the fastest CAGR of 9.3% over the forecast period owing to increasing demand for milk and milk products in countries like India, China, and U.S. Semi skimmed milk products have medium-fat content and addition of flavors to the pasteurized milk makes it taste better, thus, it is used in preparation of yogurt, cheese sauce, and fruit juices. These factors are expected to proliferate the demand for the product throughout 2019-25.
Some of the leading players in ultra high temperature milk market include Albea Group; Amcor Ltd.; First milk; Bemis Company, Inc.; Ardagh Group; Mondi plc; Bormioli Rocco Spa; Koa Glass Co. Ltd.; Saint-Gobain; Sonoco Products Company; MeadWestvaco Corp.; Mother dairy, and A2 Corporation. For gaining competitive advantage over competitors, leading brands are focusing on strategic initiatives such as product innovation, awareness campaigning about advantages of UHT milk, and mergers & acquisitions. For example, a company named Greenland group was acquired by Lactalis for expanding its product line and for entering in various product categories like UHT milk, cheese, and yogurt.
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Further key findings from the report suggest:
• In 2018, Europe dominated the market with a revenue share of 40.5%.
• Asia Pacific is projected to grow at the highest CAGR of 9.1% from 2019 to 2025
• In 2018, the skimmed UHT milk segment accounted for the market share of 48.9%. Semi skimmed products are anticipated to register the fastest CAGR of 9.3% over the forecast period
• Some of the leading players in this industry include Albea Group; Amcor Ltd.; First milk; Bemis Company, Inc.; Ardagh Group; Mondi plc; Bormioli Rocco Spa; Koa Glass Co. Ltd.; Saint-Gobain; Sonoco Products Company; MeadWestvaco Corp.; Mother dairy, and A2 Corporation.
Million Insights has segmented the global ultra high temperature milk market based on product, fat content and region:
Ultra High Temperature Milk Product Outlook (Revenue, USD Billion, 2015 – 2025)
Ultra High Temperature Milk Fat Content Outlook (Revenue, USD Billion, 2015 – 2025)
• Semi Skimmed
Ultra High Temperature Milk Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Middle East & Africa
• South Africa
• Central & South America
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