Global UHT Milk Market to Cross US$ 133 billion by 2020
Ease of storage, handling, longevity along with changing consumer preferences to boost global UHT milk market through 2020
According to recently published TechSci Research report, “Global UHT Milk Market Forecast and Opportunities, 2020”, the global UHT (Ultra High Temperature) milk market is forecast to cross US$ 133 billion by 2020. Longer shelf life of UHT milk diminishes the need for refrigeration, due to which an increasing number of consumers are shifting towards UHT milk from normal fluid milk. Semi-skimmed UHT milk is the most popular type of UHT milk consumed amongst adults, who prefer low calorie intake. On the other hand, whole UHT milk market is largely driven by high consumption registered from consumers in the lower age bracket, mainly children. Consequently, semi-skimmed and whole UHT milk segments are expected to be gradually eat into the market share of skimmed UHT milk.
The UHT milk market is growing at a decent pace in value terms, however, the growth in volume consumption of UHT milk is increasing at a comparatively lesser pace, majorly due to weak economic conditions in few of the key UHT milk consuming markets, globally. Though overall milk consumption in the European market has declined over the years, the global consumption of milk is increasing on account of rapidly increasing demand from the Asia-Pacific region.
“The demand for UHT milk in the world is increasing as it requires less refrigeration, thereby making it the best alternative to pasteurized milk. Moreover, the consumption pattern of consumers is shifting as they are switching to using products that are packed and ready to eat or drink. Though Europe had the largest market share in 2014, Asia-Pacific is expected to outpace Europe and emerge as the largest UHT milk market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global UHT Milk Market Forecast and Opportunities, 2020” has analyzed the potential of UHT milk market across the globe, and provides statistics and information on market size, shares and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with major drivers, challenges and opportunities in the global UHT milk market.