Exclusive Market Study Estimates that Global Uht Milk Market will Grow at 12.8% CAGR During 2013-2019
Persistence Market Research Released New Market Report on “Global Market Study on UHT Milk: Asia Pacific to Witness Highest Growth by 2019,” the global UHT Milk market
was valued at USD 60.8 billion in 2012 and is expected to grow at a
CAGR of 12.8% from 2013 to 2019, to reach an estimated value of USD
137.7 billion in 2019.
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Less
refrigeration space is making UHT milk the best alternative of
preservation. Fresh milk needs refrigeration to prevent it from being
spoiled by bacteria. Even under refrigeration, fresh milk can be
preserved for only a few days. Cold chains or chill chains are required
throughout the procurement of milk from dairy farms until it is stored,
processed, packed and delivered to the customers. India and China, two
of the largest consumers of milk globally, lack chill chains or
refrigeration chains. Poor road infrastructure in India remains another
restraint in the development of chill chains in the country.
Increasing
influence of western culture is also escalating the demand for UHT milk
market globally. The changing consumer habits in favor of packaged food
products in the populous Asian countries are increasing the consumption
of UHT milk in the region. This has also resulted in rise in the
apartment culture in these countries, where people generally stock
packaged food and beverage items. In the western countries, consumers
prefer to stock packaged and processed food items due to their longevity
and ease of use.
The degree of competition is
quite high in the UHT milk market. Companies in the market are engaged
in price wars as reduction in the price of UHT milk by one company
forces other market players to reduce their prices. Moreover,
supermarkets and hypermarkets are the major distribution channels for
UTH milk. These retail chains prefer products with the lowest price on
offer, thus increasing competitiveness in the market. Some retail chains
have developed their own brands, known as private labels, in
partnership with small dairy processors.
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They
keep their prices low, though the quality of their products is not as
good as the branded products in the market. Private label companies have
a large share in the European market. As the region is undergoing an
economic downturn, people are willing to compromise on quality for
price, thus increasing the market share of private labels. Product
differentiation is low among the branded products as every company in
the market offers a range of products with comparable nutritional
inputs. This decreases the switching cost for the consumer, resulting in
increased competition among industry players.
The
new dietary trend of consuming milk outside home, i.e. in schools, on
the sports field, and at the gymnasium is catching up. In many schools,
milk is provided to children in order to make drinking milk a habit and
here lies the opportunity for UHT milk. UHT milk accounts for a large
portion of the total milk consumed in China and its share has been
increasing. Growth in the urban population of China is the key reason
for the growth of UHT milk in the country.
Europe
had the largest share in the UHT milk market in 2012, but the market
growth in Asia Pacific is expected to make it the global leader by 2019.
The key domestic companies in some of the prominent UHT milk markets
are Parmalat, Candia and Dairy Partners Americas. On the other hand, the
global players include Nestle, Lactalis and Fonterra.Know More About Report@ https://www.persistencemarketresearch.com/mediarelease/uht-milk-market.asp
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