The
prevalence of price wars among leading companies has intensified the
degree of competition in the UHT (ultra-high temperature) milk
market, states Transparency Market Research (TMR) in a research
report. As hypermarkets and supermarkets are the primary distribution
channels for UHT milk products, inexpensive products are preferred
over expensive ones, thus increasing the price war among the players.
The competition is further expected to gain momentum over a period of
time as several retail chains have started their own brands and
developed small dairy processing units. The global UHT milk market is
highly fragmented as a large number of players operate in the market.
Some of the leading companies operating in the market are Nestle SA,
Lactalis Group, Fonterra Co-operative Group Limited, Danone Group,
Arla Foods, Sodiaal Group, and Bongrain SA.
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The
global UHT milk market is projected to exhibit promising growth
during the forecast period. In 2015, the market stood at US$83.1 bn
and is expected to rise to a valuation of US$137.7 bn by the end of
2019.
High
Preference of Semi-skimmed Milk to Broaden Scope for Growth
The
global market for UHT milk is broadly segmented into three product
categories on the basis of fat content. The segments are whole UHT
milk, semi-skimmed UHT milk, and skimmed UHT milk. Whole UHT milk
market is expected to witness strong growth owing to the increasing
consumption in countries such as Brazil, China, Italy, and Germany.
The market for semi-skimmed milk is being driven by rising health
concerns in countries such as Belgium, France, Mexico, and the U.S.
Regionally,
the global UHT milk market will witness a paradigm shift as Asia
Pacific is expected to take over the leading position, replacing
Europe by 2019. With Asia Pacific accounting for a share of
approximately 42.0% by the end of the forecast period, Europe’s
share is projected to slide down to 19.0% in 2019.
Burgeoning
Influence of Western Culture to Escalate Demand for UHT Milk
“The
rise in the expenditure capacity and growing disposable income of
people in countries such as Pakistan, India, and China have enabled
them to adopt a luxurious lifestyle,” says a TMR analyst. As a
result of this, consumers in these countries have started adopting
the imported variants of the products available in their respective
countries. This has resulted in a shift towards packaged consumer
food products. The trend of stocking up food for the future has
increased the need for products with enhanced shelf life. For
instance, out of the total milk consumed in China, 60% is UHT milk.
Moreover, the emergence of private label companies with inexpensive
products is also pushing customers towards packaged UHT milk
products.
However,
the sales of UHT
milk products are likely to face challenges due to the
unorganized structure of the market. In countries such as China and
India, the market is highly unorganized, thus experiencing high loss
in terms of sales. Concerns over loss of nutritional value of UHT
milk products during both processing and storage is further expected
to negatively impact the demand for the product over the next couple
of years.
This
review is based on a Transparency Market Research report titled, “UHT
Milk Market - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2013–2019.”
Major
geographies analyzed under this research report are:
- Europe
- North America
- Asia-Pacific
- Rest of the World
