Dublin, Aug. 11, 2020 (GLOBE NEWSWIRE) -- The "Condensed Milk Market - Growth, Trends, And Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global condensed milk market is projected to grow at a CAGR of 4.07% during the forecast period. Germany, France, and Switzerland are the global manufacturing hotspots of the sweetened condensed milk. The extensive application of condensed milk in desserts and confectioneries is likely to drive the market in the near future. The demand for low-sugar foods, however, can hinder the growth of condensed milk, which is majorly sweetened for use in versatile food applications.
Key Market Trends
Growing Demand for Non-Dairy Based Product Offerings
With continued awareness spread through campaigns and social media, the demand for dairy-free alternatives to all possible food products is rising. Moreover, the lactose intolerant population has been buying these products at very high rates, considering that they can enjoy desserts as fearlessly as common people. People of a sustainable mindset have also been preferring vegan/ non-dairy products due to the fact that these products assure absolutely no animal cruelty at the time of their production. Thus, owing to the multiple benefits of consuming non-dairy products, the vegan condensed milk market is expected to witness considerable growth in the future. The effect has been evident as the import-export of plant-based dairy has increased globally.
North America stands out as the Largest Market
The demand for concentrated milk products for use in desserts and confectioneries is increasing in the United States as well as Canada. The foremost reason associated with the growing demand is the easy handling of the condensed milk, which is available in cans, bottles, and tubes for the consumer to choose as per the need of application and in terms of quantity. Further, the flavored condensed milk market is growing due to the diverse flavor demands of the North American population. The transforming consumer mindset with reference to dairy-free products is also pumping the market growth of plant-based condensed milk, which is in huge demand among lactose-intolerant and vegan consumers.
The global condensed milk market is fragmented with leading global and regional players fiercely competing with local manufacturers to gain market share. The global level market of condensed milk has been witnessing advancements in terms of product innovation. Companies are developing flavored options to capture the not so fragmented market. The players have adopted market strategies like the acquisition of regional companies and product innovation to strengthen their market position. Expenditure on research and development has been increasing as the market has the potential to evolve and emerge with healthier products.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.3 By Distribution Channel
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
- Eagle Family Foods Group LLC
- Nestle S. A.
- Santini Foods, Inc.
- Hochwald Foods GmbH
- Arla Foods
- Dana Dairy Group
- Nature's Charm
- The Eagle Family Foods Group LLC
- Morinaga Milk Industry Co.,Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9acvyx
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