The latest report by IMARC Group, titled “UHT Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global UHT milk market reached a value of US$ 149 Billion in 2017, growing at a CAGR of 6.8% during 2010-2017. UHT refers to Ultra High Temperature pasteurisation which is used to treat fluid milk so as to remove the germs and bacteria present in it while preserving the essential nutrients and vitamins. UHT milk is then packed in aseptic containers which help to prevent the further growth of any harmful microorganisms. These UHT milk packs have a high shelf life and can last for several months at room temperature. Looking forward, the market is expected to reach a value of US$ 217 Billion by 2023.
Highlights of the global UHT milk market:
- Ease of use and transportation remain the major growth inducing factors.
- The European Union represents the largest consumer, accounting for the majority of the total market share.
- Asia, and Middle East and Africa are the fastest growing markets.
The growth of the global UHT milk market can be attributed to a number of factors. As UHT milk does not require any cold chain facilities, it can be easily transported to remote regions where milk is scarce. Likewise, UHT milk does not need to be refrigerated and can be consumed directly from the carton without boiling. This makes UHT milk a suitable option for consumers with a busy lifestyle as well in households without refrigerators. Moreover, by reducing the need for refrigeration in supermarkets and convenience stores, UHT milk can also help in curbing global warming. Some of the other factors which are facilitating the growth of the market include rising health consciousness, changing dietary habits, rising population and increasing disposable incomes.
On the basis of region, the European Union represents the largest consumer, accounting for nearly a third of the total global consumption of UHT milk. Within Europe, Belgium, France and Spain are the largest consumers. Other major regions include Latin America, Asia, North America, Eastern Europe, and Middle East and Africa. Among these, Asia, and Middle East and Africa are the fastest growing markets. The global UHT milk industry is fragmented due to the presence of a large number of global and regional players. Some of the key players include Nestlé, Arla Foods, Lactalis Group, Danone and Fonterra.
The report has examined the global UHT milk market on the basis of:
- European Union
- North America
- Latin America
- Eastern Europe
- Middle East and Africa
- Lactalis Group
- Arla Foods
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