UHT Milk Market size and Key Trends in terms of volume and value 2013-2019

UHT milk is the liquid milk sterilized at an ultra-high temperature (UHT) that imparts it an extended shelf life. The growing consumer preference for UHT milk is primarily driven by its ability to be stored at room temperature for longer time, without the need for refrigeration. The global milk market has been observing a major consumer shift from normal milk to UHT milk since the past few years. The global UHT milk market registered revenues worth US$ 60.8 Bn in 2012, which are expected to raise up to US$ 137.7 Bn by the end of 2019. Over the forecast period 2013-2029, the global UHT milk market will expand at a healthy CAGR of 12.8%.

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Key Market Dynamics

Consuming milk while on the go has become a popularly growing trend within the recent past, which is one of the primary factors driving the demand for UHT milk worldwide. People nowadays have extremely busy schedules and are forced to seek better alternatives to ordinary liquid milk that need refrigeration, yet has a limited time span when it comes to safe milk consumption. UHT milk is the most sought after alternative to normal milk. It has longer shelf life and does not require cold storage environment. It can be stored at room temperature, which is another key factor that will continue to fuel the demand in the global market. Where conventionally treated milk requires a highly efficient cold storage chain that is mobile and functions with high efficiency, UHT milk eliminates this condition to serve both manufacturers and distributors, as well as consumers who do not own refrigerators. The market is expected to gain the maximum traction in developing regions, where the scarcity of cold storage spaces persists over the years. In addition to higher birth rate in developing regions, there is a growing number of athletes, weightlifters, and bodybuilders worldwide, who consume milk on a daily basis and even need to carry it at times. The global UHT milk market has a big untapped opportunity here, which is anticipated to raise the demand for personal storage packs of UHT milk. A sizeable consumer population is still reluctant about adoption of UHT milk, as the nutritional value of this milk is often lost during the milk treatment, processing, and storage. This is expected to pose a major restraint to the global market for UHT milk.

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Segment Analysis

The global UHT milk market is segmented on the basis of product and animal type (source).

Regional Analysis

Based on geographical region, the global UHT milk market is segmented into North America, Europe, Asia Pacific, and rest of the world. Europe has been an early adopter of UHT milk, and currently leads the global market owing to the maximum market penetration. However, subsequent to the recent Euro-zone-crisis, Europe is foreseen to witness a decelerating market over the forecast period 2013-2019. Asia Pacific will however register substantial growth through to 2019, led by China which is one of the largest milk consumers across the globe. Urbanization is on the rise in China, and over 60% of the total milk consuming population in the country prefers UHT milk. Australia will also emerge as a lucrative market for UHT milk. India is however estimated to witness a slower growth rate, attributed to an established fresh milk market in this region. Brazil and a few other countries in Latin America are also expected to witness significant growth over the forecast period.

Key Market Players

The global UHT milk market is beneficially competitive, and comprises a number of leading international producers as well as regional players. In addition, a large number of supermarkets own their own UHT milk brands. These brands are further distributed under leading private labels and regional dairy processors. Price reduction has been a longstanding winning strategy for key market players. Some of the leading companies to mention are Nestle SA, Groupe Lactalis S.A., Danone Limited, China Mengniu Dairy Company Limited, Grupo Lala, S.A.B. de CV, Candia SA Inner Mongolia Yili Industrial Group Co. Ltd., Fonterra Co-operative Group Limited, and Parmalat.

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