The global ultra high temperature milk market is expected to be valued USD 101.64 Billion by 2027 from USD 57.58 Billion in 2019, registering a CAGR of 7.8% through the forecast period. This growth of the market is credited to the rise in living standards among consumers. Shifting preferences of consumers for UHT milk products is driving the growth of the global ultra high temperature milk market.
The increase in per capita income of people in developing economies, coupled with increasing inclination of consumers towards fresh foodstuff, is propelling the growth of the ultra high temperature milk market. Additionally, national and modern supermarket retailing along with development of strong national transportation infrastructure globally and across developing economies are propelling the growth of the market. This factor is estimated to be same during the coming years and benefit the market growth during the same period.
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Key Highlights from Report
- In March 2019, Nestle Argentina introduced a new milk production line in the province of Cordoba, Argentina. Through this new production line, the company will manufacture high temperature milk nearly 10 million liters per year of value-added liquid products with UHT technology.
- Based on the product, the unflavored sub-segment grabbed a largest market share of 59.4% in 2019 and is estimated to retain its dominance throughout the predicted years. This growth is attributable to the less refrigeration required to the unflavored UHT milk products, which has resulted in increasing adoption of the product especially among the younger population.
- Based on the fat content, the Semi Skimmed UHT milk sub-segment is predicted to expand at a high CAGR of 8.6% over the forecast period. This growth is attributable to the factors such as growing demand for butter, cheese, and yogurt across several countries in developed and developing countries.
- Regionally, the Asia Pacific region is expected to witness growth at a fast growth rate during the forecast period. This growth is attributable to the rising investment by major market players for research and development activities and introduction of launching newer innovative products in the region.
- Key participants in the ultra high temperature milk market include Fonterra Co-operative Group Limited, Nestle SA, Lactalis Group, Savencia Fromage & Dairy, Arla Foods, Danone Group, Clover S.A. (Pty) Ltd., Bemis Company, Almarai, and Parmalat S.p.A.
Emergen Research has segmented the Global UHT Milk Market on the basis of product, fat content, and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Fat Content Outlook (Revenue, USD Billion; 2017-2027)
- Semi Skimmed
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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