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2025 Dry, Condensed, And Evaporated Dairy Products Industry Trends Report: Long-Term Outlook Through 2034
Dry, Condensed, And Evaporated Dairy Products
How Large Will the Dry, Condensed, And Evaporated Dairy Products Market Size By 2025?
The market for dry, condensed, and evaporated dairy products has seen a robust growth in the past few years. The market is anticipated to expand from $119.97 billion in 2024 to $127.28 billion in 2025, marking a compound annual growth rate (CAGR) of 6.1%. Factors contributing to the growth in the historic period include dairy farming, extended shelf life of these products, worldwide dairy production, their usage in military and emergency supplies, as well as global export and trade.
How Big Is the Dry, Condensed, And Evaporated Dairy Products Market Size Expected to Grow by 2029?
In the coming years, the market size for dry, condensed, and evaporated dairy products is anticipated to witness robust growth. It is projected to reach $160.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth during this forecast period can be credited to factors such as health-focused consumer choices, sustainable and ethical practices, use of clean and natural ingredients, expansion of the global market, and the rise of digital marketing and e-commerce. Significant trends predicted for the forecast period include lactose-free and dairy-free alternatives, functional and fortified products, diverse milk powders, instant and flavored varieties, as well as specialty and customised products.
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Which Key Market Drivers Powering Dry, Condensed, And Evaporated Dairy Products Market Expansion and Growth?
The rising interest in local, sustainable, and organic food production is predicted to have a favorable impact on the market for dry, condensed, and evaporated dairy products over the projection period. Organic food products, such as dry, condensed, and evaporated dairy items, prioritize consumer health, environmental conservation, and animal welfare. Nowadays, consumers are growing more mindful about the cultivation and preparation methods of the food they consume and are willing to shell out extra for what they perceive as healthy. For example, according to the Organic Trade Association, a US-based organization representing over 9,500 organic businesses, sales of organic fruits and vegetables saw a 4.5% rise in June 2022, generating $21 billion in revenue, which accounted for 15% of the total product market in the US in 2021. This upswing in demand for organic commodities opens substantial opportunities for manufacturers of dry, condensed, and evaporated dairy products in both developed and developing nations, which is expected to boost the market during the forecasted period.
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Which Fast-Growing Trends Are Poised to Disrupt the Dry, Condensed, And Evaporated Dairy Products Market?
The utilization of internet of things (IoT) technology to track dairy products and ensure their safe handling is becoming more common. This technology, which comprises a network of interconnected vehicles, devices, or other items that continuously exchange information, enables tracking of ingredients used in products. Internet-enabled equipment in vehicles and coolers allows monitoring of dairy products, tagging them with data such as temperature or location to ensure safe product handling during transit. For example, the Chinese government has established the National Food Quality Safety Traceability Platform that uses IoT technology to boost food production supply chain safety and quality. Players in the dry, condensed, and evaporated dairy products market are zeroing in on flavored evaporated milk, in a bid to cater to increasing consumer appetite for bold, creative, and personalized food solutions. This version of traditional evaporated milk, which has natural or artificial flavors added, enhances the taste of drinks or dishes. It provides the same thick consistency of standard evaporated milk, but with a unique flavor enhancement such as vanilla, chocolate, or spicy ingredients like jalapeño. In June 2024, for example, Carnation Evaporated Milk, a popular brand of evaporated milk produced by Nestlé in the US, launched its first-ever flavored product, the limited-edition Carnation Kickin' Jalapeño Flavored Evaporated Milk. Co-developed with TikTok chef Tini Younger, this new offering couples the creamy delight of Carnation Evaporated Milk with a bold jalapeño zing, ideal for adding an adventurous twist to mac and cheese recipes, in response to growing consumer demand for bold flavors.
What Are the Emerging Segments in the Dry, Condensed, And Evaporated Dairy Products Market?
The dry, condensed, and evaporated dairy products market covered in this report is segmented -
1) By Type: Dry Dairy Product, Condensed Dairy Product, Evaporated Dairy Product
2) By Distribution Channel: Super markets Or Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
3) By End Use: Food, Beverages, Intermediate Products, Condiments, Other End Users
Subsegments:
1) By Dry Dairy Product: Milk Powder (Whole Milk Powder, Skimmed Milk Powder), Whey Powder, Buttermilk Powder, Cheese Powder
2) By Condensed Dairy Product: Sweetened Condensed Milk, Unsweetened Condensed Milk
3) By Evaporated Dairy Product: Evaporated Milk, Evaporated Cream
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Who Are the Global Leaders in the Dry, Condensed, And Evaporated Dairy Products Market?
Major companies operating in the dry, condensed, and evaporated dairy products market include Kerry Group plc, Tate & Lyle plc, Rhodes Food Group, Nestlé S.A, The J.M. Smucker Company, Gcmmf Ltd., Magnolia Inc., Goya Foods Inc., Fonterra USA Inc., Darigold, Prairie Farms Dairy Inc., Crystal Creamery, Milk Specialties Company, Merrick's Inc., PBM Covington LLC, Lactalis American Group Inc., Schreiber Foods Inc., Saputo Inc., Glanbia plc, Dairy Farmers of America Inc., Hiland Dairy Foods Company LLC, Borden Dairy Company, Foremost Farms USA Cooperative, Land O'Lakes Inc., Leprino Foods Company, Agropur Cooperative, Associated Milk Producers Inc., California Dairies Inc., First District Association, Great Lakes Cheese Co Inc., Kraft Heinz Ingredients, MCT Dairies Inc., Michigan Milk Producers Association, Pacific Cheese Co Inc., Tillamook County Creamery Association.
Which are the Top Profitable Regional Markets for the Dry, Condensed, And Evaporated Dairy Products Industry?
Western Europe was the largest region in the dry, condensed, and evaporated dairy products market in 2023. Asia-Pacific was the second-largest region in the dry, condensed, and evaporated dairy products market. The regions covered in the dry, condensed, and evaporated dairy products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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