Sweetened Condensed Milk Market, By Product Type (Flavored, Unflavored), Packaging Type (Cans, Bottles, Tubes) and by Region (NA, EU, APAC, LA, MEA) Analysis, Size, Share, Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
The Sweetened Condensed Milk Market is expected to be valued at USD 7,700.6 million by 2025, growing with a 3.8% CAGR during the forecast period, 2021-2027.
Cow milk is used to make sweetened condensed milk in the majority of cases. A heating procedure removes the water from cow's milk, which is then mixed with the appropriate quantity of sugar to create a thick, rich, and smooth texture. Some desserts utilize sweetened condensed milk in order to provide a rich and sweet creamy texture. Calcium, vitamin A, magnesium, potassium, and tiny levels of other vitamins and minerals are all found in it. Furthermore, sweetened condensed milk has a longer shelf life than regular condensed milk. They come in both unflavored and flavored varieties.
Market Dynamics
The sweetened condensed milk market is growing due to a growing confectionery sector and rising demand for dairy products. The sweetened condensed milk industry is growing owing to the product's extended shelf life. The main competitors are continuously striving to provide new flavors to the market, which is fueling the industry's growth. The high calorie and fat content of sweetened condensed milk, on the other hand, may limit market development. To get around the restriction, businesses are creating low-calorie or fat-free sweetened condensed milk.
Product Type Takeaway
Sweetened condensed milk is divided into two categories: flavored sweetened condensed milk and unflavored sweetened condensed milk. Among these, the market for flavored sweetened condensed milk is exploding. The growth of this category is being fueled by leading companies' new taste innovations.
Packaging Type Takeaway
In 2019, the most communal form of packaging for the product was canned, which accounted for 74.6 percent of global revenue. Consumers like metal cans because they are environmentally friendly and feature healthy interior coatings that prevent food deterioration due to chemical reactions.
Regional Takeaway
North America is the most important market. In both the United States and Canada, the demand for condensed milk products for use in sweets and confectioneries is growing. The ease of handling of condensed milk, which is accessible in cans, bottles, and tubes for the customer to pick according to the requirement for application and amount, is the primary reason for the rising demand. Furthermore, the market for flavored condensed milk is expanding as a result of the various flavor preferences of the North American population. The shift in consumer attitudes toward dairy-free goods is propelling the market for plant-based condensed milk, which is in high demand among lactose-intolerant and vegan consumers.
Key Vendor Takeaway
Some of the major players in this industry include Nestle, Eagle Family Foods Group LLC, Amul, Fraser & Neave Holdings Bhd (F&NHB), The Dutch Lady, Vinamilk, Goya Foods, Belgorod Dairy Products OJSC, Borden Magnolia, and Dana Dairy.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2019
- Base Year – 2020
- Projected Year – 2021 to 2027
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SWEETENED CONDENSED MILK MARKET KEY PLAYERS
- Vinamilk
- The Eagle Family Foods Group LLC
- The Dutch Lady
- Santini Foods, Inc.
- Nestle S. A.
- Nature's Charm
- Morinaga Milk Industry Co.,Ltd
- Hochwald Foods GmbH
- Goya Foods
- Fraser & Neave Holdings Bhd (F&NHB)
- Dana Dairy Group
- Belgorod Dairy Products OJSC
- Arla Foods
- Amul
GLOBAL SWEETENED CONDENSED MILK MARKET, BY PRODUCT TYPE
- Flavored
- Unflavored
GLOBAL SWEETENED CONDENSED MILK MARKET, BY PACKAGING TYPE
- Cans
- Bottles
- Tubes
GLOBAL SWEETENED CONDENSED MILK MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. SWEETENED CONDENSED MILK MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Product Type
2.1.2. Market Snippet by Packaging Type
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. SWEETENED CONDENSED MILK KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. SWEETENED CONDENSED MILK INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. SWEETENED CONDENSED MILK MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. SWEETENED CONDENSED MILK MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. SWEETENED CONDENSED MILK MARKET – BY PRODUCT TYPE
7.1. Overview
7.1.1. Segment Share Analysis, By Product Type, 2020 & 2027 (%)
7.2. Flavored
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Unflavored
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. SWEETENED CONDENSED MILK MARKET – BY PACKAGING TYPES
8.1. Overview
8.1.1. Segment Share Analysis, By Packaging Types, 2020 & 2027 (%)
8.2. Cans
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Bottles
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.4. Tubes
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. SWEETENED CONDENSED MILK MARKET– BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. United Kingdom Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.8.4. United Kingdom Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.5.9. Rest of Europe
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Packaging Type, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Packaging Type, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Packaging Type, 2016 - 2027 (US$ Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Packaging Type, 2016 - 2027 (US$ Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Product Type, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Packaging Type, 2016 - 2027 (US$ Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. ACE (Singapore) Pte Ltd
10.2.1.1. Company Snapshot
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. Canada Renewable Bioenergy Corp.
10.2.3. Nettenergy Bv
10.2.4. Tagrow Co., Ltd.
10.2.5. Byron Biochar
10.2.6. New Life Agro
10.2.7. Verdi Life
10.2.8. Nakashima Trading Co. Ltd.
10.2.9. Penta Manufacturer
10.2.10. Doi & Co., Ltd
10.2.11. Shandong Toroyal Group (Toroyal Group)
10.2.12. Sane Shell Carbon (SSC)
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
