Newark, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to The Brainy Insights, the evaporated milk market is growing at a CAGR of 2.1% from 2022-2030. The market is driven by the increasing awareness about the application of evaporated milk in various recipes and the rising trend of home cooking among people. In recent years, millennials and working individuals have been more inclined toward home cooking owing to their increased focus on adopting a healthy lifestyle.
The adoption of evaporated milk has been increasing in Asian and Middle Eastern countries owing to the demand for desserts, bakeries, and other confectionery products in the region. Moreover, evaporated milk has replaced fresh milk in tea and coffee owing to its long shelf-life and convenient packaging.
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Evaporated milk is widely used in bubble tea to obtain a smooth and creamy texture. Bubble tea is one of the fastest emerging tea trends across the globe, specifically in Thailand, the Philippines, the US, Malaysia, the UK, and Singapore, whereas Vietnam and Indonesia have already emerged as major bubble tea-consuming countries.
One of the key advantages of evaporated milk is that it has a very long shelf life and requires no additional refrigeration or cold storage. Due to this feature, it has become a more convenient option and is considered a basic cooking ingredient while traveling, trekking, and camping. Further, it doesn’t require special storage conditions like fresh milk.
The global evaporated milk market is highly fragmented with the presence of several players. These players are focusing on sustainable and innovative packaging to fulfill the growing consumer demand for convenient and sustainable products. For instance, in October 2020, Aljaied expanded its portfolio of evaporated milk in re-closeable carton packs. The company is using SIG’s filling technology and recloseable combifitSmall carton packs. The carton pack is very easy to open and conveniently recloseable.
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Key Players
- Nestlé
- FrieslandCampina
- Arla Foods amba
- DANA DAIRY GROUP
- Fraser and Neave, Limited.
- Alaska Milk Corporation
- Naisa Brand Products Ltd.
- Parthenon Foods
- Santini Foods, Inc.
- Meyenberg
- Eagle Family Foods Group LLC
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Market Segmentation
- Product Insights
- Whole
- Skimmed
- Semi-skimmed
- Distribution Channel Insights
- B2B
- B2C
- Supermarkets & Hypermarkets
- Convenience Stores
- Online
- Others
- Regional Insights
- North America
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- US
- Canada
- Mexico
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- Europe
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- UK
- Germany
- France
- Italy
- Spain
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- Asia Pacific
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- China
- Japan
- India
- South Korea
- Australia
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- Central and South America
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- Brazil
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- Middle East and Africa
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- South Africa
- UAE
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