Global UHT Milk Market To Grow At CAGR Of 14 percent From 2015-2020

  • Tuesday, 03 November 2015 08:55
  • Published in Business News
  • Read 2252 times

Global UHT milk market is predicted to grow with a compound annual growth rate of 14 percent, with Asia-Pacific witnessing the fastest growth at compound annual growth rate of 20.6 percent until 2020.

Two main reasons for this increase is the change in consumer consumption patterns and the growth of milk consumption in the developing countries, says P&S Market Research.

Milk is one of the essential food products, but due to its perishable nature regular liquid milk is not purchased by the end-users in large volumes, especially in developing countries where the lack of refrigeration facilities pose a problem. UHT milk is often used as an alternative as it can last longer.

Also, the adoption of several trends related to lifestyle and well-being in the developing countries in Asia-Pacific, Middle East and Africa. For example, the growing apartment culture in countries such as China and India is influencing consumers to use products with larger shelf-life. UHT milk accounts for approximately 60 percent of the total milk consumption market in China.

In Europe, the weaken economic condition have propelled the demand for cheaper products in the past few years. 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.

Finally, the evolving consumer trends such as on-the-go consumption of milk is also boosting the growth of the global market of UHT milk. Nowadays the consumption of milk is not restricted to the access of a refrigerator. As UHT milk is easily carried around and does not require refrigeration, consumers are more likely to drink more of it, thus increasing the growth rate of UHT millk.

  • Last modified on Wednesday, 04 November 2015 09:20
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