Global UHT Milk Market Is Expected To Reach Us$137.7 Bn (2013 to 2019)
Persistence Market Research has released a research report on the food and beverages industry, titled “Global Market Study on UHT Milk: Asia Pacific to Witness Highest Growth by 2019”. According to the report, the global UHT milk market is progressing at a CAGR of 12.80% in a forecast period from 2013 to 2019. The global UHT milk market in 2012 was recorded at US$60.8 bn. By the end of 2019, the market is expected to reach US$137.7 bn.
The primary driver of the global UHT milk market, as explained in the report, is the reducing space available to create cold storage units. UHT milk does not need a cold storage environment to be stored and therefore can provide a widely appealing alternative to conventionally treated milk. This applies to fresh milk on the basis of temporary as well as long-term storage timelines.
When exposed to room temperatures, the decomposition of milk occurs at an accelerated rate. Even if milk is stored in a cold environment, it still has a shelf life of just a few days. This creates the need for a highly efficient and mobile cold storage chain between the manufacturer and the distributor.
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The above restraint on fresh milk and conventionally treated milk creates a rapidly growing demand from the global UHT milk market, especially in developing nations.
According to the report, the two largest consumers of milk in the world are China and India. Both countries possess below-average infrastructure to maintain streamlined cold storage services. Owing to this, the UHT milk market is rising in the Asia Pacific region at a faster rate than in other regions. UHT milk provides these nations the choice of using a more flexible storage arrangement for milk without concerns of it decomposing.
From a consumer’s perspective, the global UHT milk market is beneficially competitive. With multiple UHT milk producers vying for market leadership, price reductions have been a consistent method of gaining consumer appeal.
While the global UHT milk market contains several major global players, the market is also packed with multitudes of regional companies. There are even supermarkets and hypermarkets that have their own brand of UHT milk, which they distribute under private labels and with regional dairy processors as partners.
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Another driver for the global UHT milk market is the rising trend of drinking milk outside of homes. With a growing number of children, athletes, gymnasts, and bodybuilders encouraged to drink milk, the global UHT milk market could use the opportunity to promote milk that does not need cold storage and can be carried around in personal storage packs.
Although Europe is the current leader in the global UHT milk market, Asia Pacific is rapidly catching up. Meanwhile, Europe, after recently experiencing a downward economic turn, could possibly witness a deceleration in the regional UHT milk market.
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