(Entertainment-NewsWire.com, January 20, 2016 ) 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.
Milk is one of the essential food products consumed in every family. However, owing to the perishable nature, regular liquid milk is not purchased by the end-users in large volumes. Therefore, UHT milk is consumed worldwide, as an alternative to regular milk. The evolving consumer trends, such as on-the go consumption of milk is also boosting the growth of the global market of UHT milk. Earlier, milk was usually consumed during the breakfast or dinner. However, during the past few years, a shift in dietary trends has led to its pervasive consumption.
With the increasing urbanization, the adoption of several trends related to lifestyle and well-being are in practice within the developing countries of Asia-Pacific, Middle East, and Africa. The growing apartment culture in countries, such as China and India is influencing the consumers to use products with larger shelf life. UHT milk accounts for approximately 60% share of the total milk consumption in China.
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.
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.
GEOGRAPHICAL SEGMENTATION Breakdown by Region North America o U.S. o Mexico o Rest of North America Europe o France o Germany o Spain o Belgium o Italy o Rest of Europe Asia Pacific o China o Rest of Asia-Pacific Rest of the World (ROW) o Brazil o South Africa o Rest of ROW
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