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Global UHT Milk Market (Size of $84 Billion in 2014) to Witness 14% CAGR during 2015 – 2020
The lack of refrigeration facilities in the developing countries, and increasing busy schedules of people are key growth drivers for the global UHT milk market. The Asia-Pacific UHT milk market is expected to witness the fastest growth, with a CAGR of 20.6% during 2015 – 2020. The whole variant is expected to witness fastest growth with a CAGR of 14.4% during the forecast period. The supermarkets and hypermarkets dominated the sales among distribution channels in the global market.
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The weaker economic conditions in Europe have propelled the demand for cheaper products in the past few years. Milk being one of the inherent parts of everyday meal for the majority of European population, its affordability is important for most of the households. The private label UHT milk brands offered by supermarkets and hypermarkets are relatively cheaper than, those offered by established brands. This offsets the negative impact of economic slowdown, as the consumers have an option to switch towards the substitutes of their preferred brand in the economically crunch situation.
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The major companies operating in the global UHT milk market include Nestle SA, Groupe Lactalis S.A., Fonterra Co-Operative Group Limited, Danone Limited, Grupo Lala, S.A.B. de CV, Sodiaal Group, Inner Mongolia Yili Industrial Group Co. Ltd., China Mengniu Dairy Company Limited, Devondale Murray Goulburn Co-Operative Co. Limited.
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