Asia Pacific Condensed Milk Market

Asia Pacific Condensed Milk Market Size (2024 To 2032)

The size of the Asia Pacific condensed milk market is expected to be worth USD 1.86 billion in 2024 and grow at a CAGR of 4.25% from 2024 to 2032 to achieve USD 2.60 billion by 2032. 

Condensed milk is generally milk from which water has been removed. It is generally found in the form of sweetened condensed milk, with sugar added. Sweetened condensed milk is a thick, sweet product which is canned. It can last for years without refrigeration if not opened. Condensed milk is used in various dessert dishes. An associated product is evaporated milk, which is prepared from a more complex process and is not sweetened. Evaporated milk is known in some parts of the world are known as unsweetened condensed milk.

The significant driver is Consumer preference, wide application and new recipes in bakery and confectionaries. Also change in lifestyles and rise in awareness of consumers regarding healthy eating habits, in developed and developing nations is boosting the industry. Also new improvements in the field of dairy and dairy products including biotechnological improvements are further expected to boost this industry. In addition, growing market for health drinks and beverages is expected to limit the condensed milk market.

This research report on the Asia Pacific condensed milk market is segmented and sub-segmented into the following categories.

Asia Pacific Condensed Milk Market By Type

• Sweetened
• Unsweetened
• Skimmed
• Part Skimmed
• Flavored

Sweetened condensed milk products has a major share in condensed milk market in 2017 because of its use in bakery and confectionary.

Asia Pacific Condensed Milk Market By Application

• Foods
• Beverages
• Bakery
• Confectionary 
• Personal & Beauty Care

Food and bakery is estimated to be the largest segment in Condensed Milk market in 2017.

Asia Pacific Condensed Milk Market By Sales Channel

• Online Retailing
• Supermarkets/Hypermarkets
• Departmental Stores
• Retail Shops

Online Retailing is expected to have highest growth rate.

Asia Pacific Condensed Milk Market By Region

• China
• India
• Japan
• South Korea
• Taiwan
• Australia
• South East Asia

China and India are likely to increase the market because of huge population. Also Asia Pacific is largest growing segment owing to increasing demand of condensed milk as dairy and dairy products substitute.

KEY MARKET PLAYERS

Major key players in the Asia Pacific condensed milk market are Nestlé S.A., The J.M. Smucker Company, GCMMF PVT LTD, Magnolia, Inc., Goya Foods, Inc., Olvebra Industrial, UAB, F&N Foods Pte Ltd., Meijer, Inc, Sun Hing Foods, Inc., and Meadow Gold Dairies are the leaders in the Asia Pacific Condensed Milk market