Sweet Condensed Milk Market

Global Sweet Condensed Milk Market

  • FB-5234
  • 4.7 Rating
  • 350 Pages
  • 12-11-2022
  • 72 Reviews
  • PDF Excel PPT
Anuradha

Author:

Anuradha B. More

Vaibhav

Fact-checked by:

Vaibhav Chandola

Aman

Editor:

Aman Singh

Sweet Condensed Milk Market Market Outlook:

The global sweet condensed milk market was estimated at USD 6,814.9 Million in 2021 and is anticipated to reach USD 8,853.7 Million by 2030, expanding at a CAGR of 3.2% during the forecast period.

Sweet condensed milk provides nutritional benefits when consumed in appropriate quantities. Additionally, it contains important vitamins and minerals, such as calcium, potassium, magnesium, and Vitamin A, which improves the health of bones. Consumption of sweet condensed milk in tea and coffee is popular in many countries, such as the UK and Japan.

Sweet Condensed Milk Market Market Outlook

Sweet condensed milk is a popular ingredient in a wide variety of pastries, candies, and creamy drinks. Cow's milk is first concentrated by eliminating the water to create sweetened condensed milk, which is then sweetened with sugar, producing a highly sweet, thick substance that is off-white in color.

Sweet condensed milk is a product which is made by gently heating whole milk until about 60% of the water has evaporated, followed by the addition of sugar to around 45% (by weight) of the remaining milk. The product is a thick, sweet combination that is used to make a variety of dishes, including marinades, baked products, candies, desserts, and drinks.

Macro-economic Factors

Purchasing Power of Consumers

The purchasing power of a currency is the number of goods or services purchased by one unit of money. Purchasing power is determined by real income, which is income adjusted for inflation. Per capita income or an individual’s income is directly associated with the consumer’s purchasing power. The higher the income, the higher is the purchasing power. High purchasing power of consumers encourages them to spend on high-quality confectionary with improved taste and texture, such as sweet condensed milk.

Spending on Bakery Products

Condensed milk is a popular product for the preparation of desserts and beverages, as it has a thick, paste-like consistency. Sweet condensed milk imparts a smooth and creamy texture to rich desserts, which makes the end product tasty and sweet. Several people prefer consuming milk-based desserts for satisfying their sugar cravings. The average expenditure on bakery products in the US households amounts to USD 462. The average annual expenditure on bakery products rose by USD 70 dollars from 2018. High demand for desserts is expected to fuel the market during the forecast period.

Import & Export Scenario

Sweet condensed milk is gaining popularity in terms of its trade value, due to its ability to elevate taste and shelf life. In 2020, the key exporters of concentrated milk were New Zealand (USD 5.92B), the US (USD 2.18B), Germany (USD 1.71B), the Netherlands (USD 1.64B), and France (USD 1.13B). Key importers of concentrated milk were China (USD 3.37B), Algeria (USD 1.11B), the Netherlands (USD 949M), Mexico (USD 780M), and Saudi Arabia (USD 764M) with an approximate percentage of 15.7%, 5.1%, 4.4%, 3.6%, and 3.5% respectively for these countries  The import and export scenario of sweet condensed milk reflects the positive growth of the market.

E-Commerce Retail Sales

E-commerce (or electronic commerce) is used for the online sale and purchase of goods and services. It includes a wide range of information, processes, and tools for online buyers and sellers, such as mobile shopping and online payment encryption. The number of online retailers has been growing consistently.

This growth is primarily attributed to the COVID-19 pandemic, which encouraged consumers to make online purchases instead of going to retail stores. Factors driving the e-commerce industry are low prices of goods, comprehensive product assortment, convenient transactions, and availability of a wide variety of products on online platforms.

Market Dynamics

Market Driver- Growing demand for desserts and beverages

The demand for desserts and beverages, such as ice creams, cakes, fudges, and truffles, is rising every year. Sweet condensed milk is used to make traditional truffles, known as brigadeiro, in Brazil. In the US and the UK, it is a vital ingredient in key lime pie and is often used to make fudge. In Southeast Asia, sweetened condensed milk is added to hot and cold coffee to enhance its flavor.

Most sweets receive their smooth, creamy texture from sweetened condensed milk, which enhances the flavor and sweetness of the end product. A majority of people prefer consuming milk-based desserts to satisfy their sugar cravings. Thus, the growing demand for desserts and beverages, especially those made with sweet condensed milk, is expected to drive the market.

Market Driver- Changing consumer dynamics for sweet condensed milk

The preference of people keeps changing with time in terms of food. People prefer bakery products with high nutritional value along with the high quality and taste of the particular product. Sweet condensed milk is one of the most popular products for elevating the taste of any confectionary or traditional food. Consumers tend to look at the label and packaging of products while making purchases.

The market in Asia Pacific is boosted by the increased consumption of sweet condensed milk. China and India dominate the market within this region, with the US and Europe as the major exporters of sweet condensed milk to this region. Countries such as Indonesia, the Philippines, and Vietnam are the major importers of sweet condensed milk from the US, due to the high domestic demand for sweet condensed milk in these countries. These factors are boosting the global sweet condensed milk market.

Market Restraint- Unsuitable for people with lactose intolerance

Lactose, the natural sugar in milk, cannot be fully absorbed by those who have lactose intolerance. Lactose intolerance is also known as lactose malabsorption and is typically not harmful. People with lactose intolerance suffer from diarrhea, gas, and bloating as a result of consuming dairy products.

Sweetened condensed milk includes both lactose and milk proteins, as it is prepared from cow's milk. Sweetened condensed milk is unsuitable for consumers if they are lactose-intolerant or allergic to milk proteins. A tiny amount of lactose dispersed throughout the day is tolerated by certain lactose-intolerant people. Sweetened condensed milk has a large amount of lactose, even in small amounts.

Market Opportunity- Innovations in traditional product packaging

Product packaging needs to be compatible with a broad range of processors. Additionally, the packaging must be compatible with the technological demands of the production facilities. Sterilized steel cans and drums are common packaging options for sweetened condensed milk. Various bag-in-box systems (BIB), such as one-way and reusable containers with capacities of up to 1,000 kg or small cartons with capacities of up to 25 kg, are becoming popular.

New solutions, including compact BIBs with a capacity of 5 kg or more, are in high demand among users. These solutions are bridging the gap between conventional consumer cans and standard bulk industrial containers.

Scope of Sweet Condensed Milk Market Report  

The report on the global sweet condensed milk market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Sweet Condensed Milk Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2021

Historic Data

2015 and 2020

Forecast Period

2022–2030

Segmentation

by Type (Flavored, Unflavored), by Packaging Form (Pouch, Tetra Pack, Bottle, Can, Tube), by Packaging Size (Below 300 g, 301-400 g, 401-500 g, 501-1000 g, More than 1000 g), by Application (Household, Restaurant & Cafes, Infant Food Producers, Bakery, Confectionary), and by Distribution Channel (Wholesalers/Distributors, Supermarket & Hypermarket, Departmental Stores, Convenience Stores, Online Retailing)

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

Nestlé, Royal FrieslandCampina N.V, GCMMF, Vinamilk, Fraser & Neave Holdings Bhd , Eagle Family Foods LLC, Goya Foods, Inc, Belgorod Dairy Products OJSC, Santini Foods, Inc., and DANA DAIRY GROUP.

Sweet Condensed Milk Market Segmental Outlook

Based on type, the sweet condensed milk market is segmented into flavored and unflavored. The flavored segment is expected to register high growth during the forecast period, owing to the increasing competition in the industry. Manufacturers are emphasizing on product innovations, such as adding flavors to increase the sales of sweet condensed milk. The high availability of unflavored condensed milk in the market is a key factor contributing to the growth of the unflavored segment.

Sweet Condensed Milk Market Type

On the basis of packaging form, the market is fragmented into pouch, tetra pack, bottle, can, and tube. The can segment is projected to expand at a significant rate during the forecast period. Metal cans are environmentally friendly and have inner coatings to prevent food spoilage from chemical reactions. Cans are seal packed, which prevents food spoilage during transport. This factor is anticipated to increase the product demand in the near future.

In terms of packaging size, the global sweet condensed milk market is classified into below 300 g, 301-400 g, 401-500 g, 501-1000 g, and more than 1000 g. The 301-400 g segment is projected to expand at a considerable CAGR during the forecast period. The rising demand for 301-400 g sweet condensed milk for household consumption and as a suitable alternative to regular milk in culinary applications such as desserts and beverages is driving the segment.

Sweet Condensed Milk Market Packaging Size

On the basis of application, the global sweet condensed milk market is segmented into household, restaurant & cafes, infant food producers, bakery, and confectionary. The bakery segment is projected to expand at a considerable CAGR during the forecast period. Bakeries use sweet condensed milk as one of the primary ingredients in various food items such as cookies and cupcakes. The consumption of bakery products is increasing, owing to its cost-effectiveness, health benefits, and convenience. These factors are anticipated to fuel the bakery segment during the forecast period.

On the basis of distribution channel, the global sweet condensed milk market is classified into wholesalers/distributors, supermarkets & hypermarkets, departmental stores, convenience stores, and online retailing. The online retailing segment is projected to expand at a considerable rate during the forecast period. Online retailing has increased consumer reach and has evolved as a key source of revenue for many companies. Supermarkets offer products at relatively low prices by using their buying power to buy goods from manufacturers at lower prices than retail stores.

Regional Outlook

Based on region, the market is separated into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is projected to expand at a significant rate during the forecast period. The demand for sweet condensed milk products in desserts and confectioneries is increasing in the US and Canada.

The market in Europe is expected to expand at a significant growth rate, due to the improved dairy products in countries such as Germany and Poland.

The market in Asia Pacific is expected to grow at a rapid pace during the forecast period. The product is used in many traditional dishes in Asia Pacific.

Latin America is anticipated to hold a considerable share of the global market, owing to the increasing interest of millennials in the preparation of cakes and desserts.

The market in the Middle East & Africa is projected to expand at a substantial pace, due to the high demand for sweet condensed milk by desserts and confectioneries manufacturers.

Sweet Condensed Milk Market Region

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Sweet Condensed Milk Market
  • Historical, Current, and Projected Market Size in terms of Value
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints, and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Sweet Condensed Milk Market Performance

Segments

By Type

  • Flavored
  • Unflavored

By Packaging Form

  • Pouch
  • Tetra Pack
  • Bottle
  • Can
  • Tube

By Packaging Size

  • Below 300 g
  • 301-400 g
  • 401-500 g,
  • 501-1000 g
  • More than 1000 g

By Application

  • Household
  • Restaurant & Cafes
  • Infant Food Producers
  • Bakery
  • Confectionary

By Distribution Channel:

  • Wholesalers/Distributors
  • Supermarket & Hypermarket
  • Departmental Stores
  • Convenience Stores
  • Online Retailing

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Market Players Profiled in the Report

  • Nestlé
  • Royal FrieslandCampina N.V
  • GCMMF
  • Vinamilk
  • Fraser & Neave Holdings Bhd
  • Eagle Family Foods LLC
  • Goya Foods, Inc
  • Belgorod Dairy Products OJSC
  • Santini Foods, Inc.
  • DANA DAIRY GROUP

Competitive Landscape

  • Manufacturers operating in the global sweet condensed milk market include Nestlé, Royal FrieslandCampina N.V, GCMMF, Vinamilk, Fraser & Neave Holdings Bhd , Eagle Family Foods LLC, Goya Foods, Inc, Belgorod Dairy Products OJSC, Santini Foods, Inc., and DANA DAIRY GROUP.
  • Market players are pursuing key strategies such as acquisitions, collaborations, and geographic expansion to increase their market share.
Sweet Condensed Milk Market Key Players
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sweet Condensed Milk Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Sweet Condensed Milk Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Sweet Condensed Milk Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Sweet Condensed Milk Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Sweet Condensed Milk Market Size & Forecast, 2015-2030
      4.5.1 Sweet Condensed Milk Market Size and Y-o-Y Growth
      4.5.2 Sweet Condensed Milk Market Absolute $ Opportunity
   4.6 Pricing Analysis & Forecast, 2015-2030
   4.7 Global Sweet Condensed Milk Market: Impact Of Key Regulations
   4.8 Top of Mind Brands: Global Sweet Condensed Milk

        4.8.1 Consumer Trends & Preferences
        4.8.2 Consumer Production Adoption Snapshot by Major Regions
        4.8.3 Factors Affecting Buying Decision
   4.9 Consumer Purchase Pattern Analysis
   4.10 B2C Product Packaging Analysis
   4.11 Global Sweet Condensed Milk Market Competitive Analysis (Consumption vs Production)
Chapter 5 Global Sweet Condensed Milk Market Analysis and Forecast By Type 
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type 
      5.1.2 Basis Point Share (BPS) Analysis By Type 
      5.1.3 Absolute $ Opportunity Assessment By Type 
   5.2 Sweet Condensed Milk Market Size & Volume Forecast By Type 
      5.2.1 Flavored
      5.2.2 Unflavored
   5.3 Market Attractiveness Analysis By Type 
Chapter 6 Global Sweet Condensed Milk Market Analysis and Forecast By Packaging Form
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Packaging Form
      6.1.2 Basis Point Share (BPS) Analysis By Packaging Form
      6.1.3 Absolute $ Opportunity Assessment By Packaging Form
   6.2 Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      6.2.1 Pouch
      6.2.2 Tetra Pack
      6.2.3 Bottle
      6.2.4 Can
      6.2.5 Tube
   6.3 Market Attractiveness Analysis By Packaging Form
Chapter 7 Global Sweet Condensed Milk Market Analysis and Forecast By Packaging Size
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Packaging Size
      7.1.2 Basis Point Share (BPS) Analysis By Packaging Size
      7.1.3 Absolute $ Opportunity Assessment By Packaging Size
   7.2 Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      7.2.1 Below 300 g
      7.2.2 301-400 g
      7.2.3 401-500 g
      7.2.4 501-1000 g
      7.2.5 More than 1000 g
   7.3 Market Attractiveness Analysis By Packaging Size
Chapter 8 Global Sweet Condensed Milk Market Analysis and Forecast By Application
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities By Application
      8.1.2 Basis Point Share (BPS) Analysis By Application
      8.1.3 Absolute $ Opportunity Assessment By Application
   8.2 Sweet Condensed Milk Market Size & Volume Forecast By Application
      8.2.1 Households
      8.2.2 Restaurant & Cafes
      8.2.3 Infant Food Producers
      8.2.4 Bakery
      8.2.5 Confectionary
   8.3 Market Attractiveness Analysis By Application
Chapter 9 Global Sweet Condensed Milk Market Analysis and Forecast By Distribution Channel
   9.1 Introduction
      9.1.1 Key Market Trends & Growth Opportunities By Distribution Channel
      9.1.2 Basis Point Share (BPS) Analysis By Distribution Channel
      9.1.3 Absolute $ Opportunity Assessment By Distribution Channel
   9.2 Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      9.2.1 Wholesalers/Distributors
      9.2.2 Supermarket & Hypermarket
      9.2.3 Departmental  Stores
      9.2.4 Convenience Stores
      9.2.5 Online Retailing
   9.3 Market Attractiveness Analysis By Distribution Channel
Chapter 10 Global Sweet Condensed Milk Market Analysis and Forecast by Region
   10.1 Introduction
      10.1.1 Key Market Trends & Growth Opportunities by Region
      10.1.2 Basis Point Share (BPS) Analysis by Region
      10.1.3 Absolute $ Opportunity Assessment by Region
   10.2 Sweet Condensed Milk Market Size & Volume Forecast by Region
      10.2.1 North America
      10.2.2 Europe
      10.2.3 Asia Pacific
      10.2.4 Latin America
      10.2.5 Middle East & Africa (MEA)
   10.3 Market Attractiveness Analysis by Region
Chapter 11 Coronavirus Disease (COVID-19) Impact
   11.1 Introduction
   11.2 Current & Future Impact Analysis
   11.3 Economic Impact Analysis
   11.4 Government Policies
   11.5 Investment Scenario
Chapter 12 North America Sweet Condensed Milk Analysis and Forecast
   12.1 Introduction
   12.2 North America Sweet Condensed Milk Market Size & Volume Forecast by Country
      12.2.1 U.S.
      12.2.2 Canada
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 North America Sweet Condensed Milk Market Size & Volume Forecast By Type 
      12.6.1 Flavored
      12.6.2 Unflavored
   12.7 Basis Point Share (BPS) Analysis By Type  
   12.8 Absolute $ Opportunity Assessment By Type  
   12.9 Market Attractiveness Analysis By Type 
   12.10 North America Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      12.10.1 Pouch
      12.10.2 Tetra Pack
      12.10.3 Bottle
      12.10.4 Can
      12.10.5 Tube
   12.11 Basis Point Share (BPS) Analysis By Packaging Form
   12.12 Absolute $ Opportunity Assessment By Packaging Form
   12.13 Market Attractiveness Analysis By Packaging Form
   12.14 North America Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      12.14.1 Below 300 g
      12.14.2 301-400 g
      12.14.3 401-500 g
      12.14.4 501-1000 g
      12.14.5 More than 1000 g
   12.15 Basis Point Share (BPS) Analysis By Packaging Size
   12.16 Absolute $ Opportunity Assessment By Packaging Size
   12.17 Market Attractiveness Analysis By Packaging Size
   12.18 North America Sweet Condensed Milk Market Size & Volume Forecast By Application
      12.18.1 Households
      12.18.2 Restaurant & Cafes
      12.18.3 Infant Food Producers
      12.18.4 Bakery
      12.18.5 Confectionary
   12.19 Basis Point Share (BPS) Analysis By Application
   12.20 Absolute $ Opportunity Assessment By Application
   12.21 Market Attractiveness Analysis By Application
   12.22 North America Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      12.22.1 Wholesalers/Distributors
      12.22.2 Supermarket & Hypermarket
      12.22.3 Departmental  Stores
      12.22.4 Convenience Stores
      12.22.5 Online Retailing
   12.23 Basis Point Share (BPS) Analysis By Distribution Channel
   12.24 Absolute $ Opportunity Assessment By Distribution Channel
   12.25 Market Attractiveness Analysis By Distribution Channel
Chapter 13 Europe Sweet Condensed Milk Analysis and Forecast
   13.1 Introduction
   13.2 Europe Sweet Condensed Milk Market Size & Volume Forecast by Country
      13.2.1 Germany
      13.2.2 France
      13.2.3 Italy
      13.2.4 U.K.
      13.2.5 Spain
      13.2.6 Russia
      13.2.7 Rest of Europe
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Europe Sweet Condensed Milk Market Size & Volume Forecast By Type 
      13.6.1 Flavored
      13.6.2 Unflavored
   13.7 Basis Point Share (BPS) Analysis By Type  
   13.8 Absolute $ Opportunity Assessment By Type  
   13.9 Market Attractiveness Analysis By Type 
   13.10 Europe Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      13.10.1 Pouch
      13.10.2 Tetra Pack
      13.10.3 Bottle
      13.10.4 Can
      13.10.5 Tube
   13.11 Basis Point Share (BPS) Analysis By Packaging Form
   13.12 Absolute $ Opportunity Assessment By Packaging Form
   13.13 Market Attractiveness Analysis By Packaging Form
   13.14 Europe Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      13.14.1 Below 300 g
      13.14.2 301-400 g
      13.14.3 401-500 g
      13.14.4 501-1000 g
      13.14.5 More than 1000 g
   13.15 Basis Point Share (BPS) Analysis By Packaging Size
   13.16 Absolute $ Opportunity Assessment By Packaging Size
   13.17 Market Attractiveness Analysis By Packaging Size
   13.18 Europe Sweet Condensed Milk Market Size & Volume Forecast By Application
      13.18.1 Households
      13.18.2 Restaurant & Cafes
      13.18.3 Infant Food Producers
      13.18.4 Bakery
      13.18.5 Confectionary
   13.19 Basis Point Share (BPS) Analysis By Application
   13.20 Absolute $ Opportunity Assessment By Application
   13.21 Market Attractiveness Analysis By Application
   13.22 Europe Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      13.22.1 Wholesalers/Distributors
      13.22.2 Supermarket & Hypermarket
      13.22.3 Departmental  Stores
      13.22.4 Convenience Stores
      13.22.5 Online Retailing
   13.23 Basis Point Share (BPS) Analysis By Distribution Channel
   13.24 Absolute $ Opportunity Assessment By Distribution Channel
   13.25 Market Attractiveness Analysis By Distribution Channel
Chapter 14 Asia Pacific Sweet Condensed Milk Analysis and Forecast
   14.1 Introduction
   14.2 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast by Country
      14.2.1 China
      14.2.2 Japan
      14.2.3 South Korea
      14.2.4 India
      14.2.5 Australia
      14.2.6 South East Asia (SEA)
      14.2.7 Rest of Asia Pacific (APAC)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast By Type 
      14.6.1 Flavored
      14.6.2 Unflavored
   14.7 Basis Point Share (BPS) Analysis By Type  
   14.8 Absolute $ Opportunity Assessment By Type  
   14.9 Market Attractiveness Analysis By Type 
   14.10 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      14.10.1 Pouch
      14.10.2 Tetra Pack
      14.10.3 Bottle
      14.10.4 Can
      14.10.5 Tube
   14.11 Basis Point Share (BPS) Analysis By Packaging Form
   14.12 Absolute $ Opportunity Assessment By Packaging Form
   14.13 Market Attractiveness Analysis By Packaging Form
   14.14 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      14.14.1 Below 300 g
      14.14.2 301-400 g
      14.14.3 401-500 g
      14.14.4 501-1000 g
      14.14.5 More than 1000 g
   14.15 Basis Point Share (BPS) Analysis By Packaging Size
   14.16 Absolute $ Opportunity Assessment By Packaging Size
   14.17 Market Attractiveness Analysis By Packaging Size
   14.18 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast By Application
      14.18.1 Households
      14.18.2 Restaurant & Cafes
      14.18.3 Infant Food Producers
      14.18.4 Bakery
      14.18.5 Confectionary
   14.19 Basis Point Share (BPS) Analysis By Application
   14.20 Absolute $ Opportunity Assessment By Application
   14.21 Market Attractiveness Analysis By Application
   14.22 Asia Pacific Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      14.22.1 Wholesalers/Distributors
      14.22.2 Supermarket & Hypermarket
      14.22.3 Departmental  Stores
      14.22.4 Convenience Stores
      14.22.5 Online Retailing
   14.23 Basis Point Share (BPS) Analysis By Distribution Channel
   14.24 Absolute $ Opportunity Assessment By Distribution Channel
   14.25 Market Attractiveness Analysis By Distribution Channel
Chapter 15 Latin America Sweet Condensed Milk Analysis and Forecast
   15.1 Introduction
   15.2 Latin America Sweet Condensed Milk Market Size & Volume Forecast by Country
      15.2.1 Brazil
      15.2.2 Mexico
      15.2.3 Rest of Latin America (LATAM)
   15.3 Basis Point Share (BPS) Analysis by Country
   15.4 Absolute $ Opportunity Assessment by Country
   15.5 Market Attractiveness Analysis by Country
   15.6 Latin America Sweet Condensed Milk Market Size & Volume Forecast By Type 
      15.6.1 Flavored
      15.6.2 Unflavored
   15.7 Basis Point Share (BPS) Analysis By Type  
   15.8 Absolute $ Opportunity Assessment By Type  
   15.9 Market Attractiveness Analysis By Type 
   15.10 Latin America Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      15.10.1 Pouch
      15.10.2 Tetra Pack
      15.10.3 Bottle
      15.10.4 Can
      15.10.5 Tube
   15.11 Basis Point Share (BPS) Analysis By Packaging Form
   15.12 Absolute $ Opportunity Assessment By Packaging Form
   15.13 Market Attractiveness Analysis By Packaging Form
   15.14 Latin America Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      15.14.1 Below 300 g
      15.14.2 301-400 g
      15.14.3 401-500 g
      15.14.4 501-1000 g
      15.14.5 More than 1000 g
   15.15 Basis Point Share (BPS) Analysis By Packaging Size
   15.16 Absolute $ Opportunity Assessment By Packaging Size
   15.17 Market Attractiveness Analysis By Packaging Size
   15.18 Latin America Sweet Condensed Milk Market Size & Volume Forecast By Application
      15.18.1 Households
      15.18.2 Restaurant & Cafes
      15.18.3 Infant Food Producers
      15.18.4 Bakery
      15.18.5 Confectionary
   15.19 Basis Point Share (BPS) Analysis By Application
   15.20 Absolute $ Opportunity Assessment By Application
   15.21 Market Attractiveness Analysis By Application
   15.22 Latin America Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      15.22.1 Wholesalers/Distributors
      15.22.2 Supermarket & Hypermarket
      15.22.3 Departmental  Stores
      15.22.4 Convenience Stores
      15.22.5 Online Retailing
   15.23 Basis Point Share (BPS) Analysis By Distribution Channel
   15.24 Absolute $ Opportunity Assessment By Distribution Channel
   15.25 Market Attractiveness Analysis By Distribution Channel
Chapter 16 Middle East & Africa (MEA) Sweet Condensed Milk Analysis and Forecast
   16.1 Introduction
   16.2 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast by Country
      16.2.1 Saudi Arabia
      16.2.2 South Africa
      16.2.3 UAE
      16.2.4 Rest of Middle East & Africa (MEA)
   16.3 Basis Point Share (BPS) Analysis by Country
   16.4 Absolute $ Opportunity Assessment by Country
   16.5 Market Attractiveness Analysis by Country
   16.6 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast By Type 
      16.6.1 Flavored
      16.6.2 Unflavored
   16.7 Basis Point Share (BPS) Analysis By Type  
   16.8 Absolute $ Opportunity Assessment By Type  
   16.9 Market Attractiveness Analysis By Type 
   16.10 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast By Packaging Form
      16.10.1 Pouch
      16.10.2 Tetra Pack
      16.10.3 Bottle
      16.10.4 Can
      16.10.5 Tube
   16.11 Basis Point Share (BPS) Analysis By Packaging Form
   16.12 Absolute $ Opportunity Assessment By Packaging Form
   16.13 Market Attractiveness Analysis By Packaging Form
   16.14 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast By Packaging Size
      16.14.1 Below 300 g
      16.14.2 301-400 g
      16.14.3 401-500 g
      16.14.4 501-1000 g
      16.14.5 More than 1000 g
   16.15 Basis Point Share (BPS) Analysis By Packaging Size
   16.16 Absolute $ Opportunity Assessment By Packaging Size
   16.17 Market Attractiveness Analysis By Packaging Size
   16.18 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast By Application
      16.18.1 Households
      16.18.2 Restaurant & Cafes
      16.18.3 Infant Food Producers
      16.18.4 Bakery
      16.18.5 Confectionary
   16.19 Basis Point Share (BPS) Analysis By Application
   16.20 Absolute $ Opportunity Assessment By Application
   16.21 Market Attractiveness Analysis By Application
   16.22 Middle East & Africa (MEA) Sweet Condensed Milk Market Size & Volume Forecast By Distribution Channel
      16.22.1 Wholesalers/Distributors
      16.22.2 Supermarket & Hypermarket
      16.22.3 Departmental  Stores
      16.22.4 Convenience Stores
      16.22.5 Online Retailing
   16.23 Basis Point Share (BPS) Analysis By Distribution Channel
   16.24 Absolute $ Opportunity Assessment By Distribution Channel
   16.25 Market Attractiveness Analysis By Distribution Channel
Chapter 17 Competition Landscape
   17.1 Sweet Condensed Milk Market: Competitive Dashboard
   17.2 Global Sweet Condensed Milk Market: Market Share Analysis, 2021
   17.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      17.3.1 Nestlé          
      17.3.2 Royal FrieslandCampina N.V
      17.3.3 GCMMF
      17.3.4 Vinamilk
      17.3.5 Fraser & Neave Holdings Bhd
      17.3.6 Eagle Family Foods LLC
      17.3.7 Goya Foods, Inc
      17.3.8 Belgorod Dairy Products OJSC
      17.3.9 Santini Foods, Inc
      17.3.10 DANA DAIRY GROUP

Purchase Premium Report

FAQ Section

Some frequently asked questions about this report!

The base year considered for the global sweet condensed milk market report is 2021. The complete analysis period is 2018 to 2030, wherein, 2015 and 2020 are the historic years, and the forecast is provided from 2022 to 2030.

In addition to market size (in US$ Million), the company market share (in % for the base year 2021, market volume (in thousand kgs), impact of key regulation, pricing analysis, key brands, consumer purchase pattern analysis, B2C product packaging analysis, and global sweet condensed milk market competitive analysis (consumption vs production).

The outbreak of coronavirus disease in 2019 (COVID-19) had a negative impact on the global sweet condensed milk market. Lockdown restrictions hampered the food industry, which in turn, hampered the manufacture and supply chain of sweet condensed milk. This product is majorly used in bakeries and restaurants for making cakes, ice cream, fudge, and truffles. The pandemic led to the shutdown of food outlets, which restrained the sweet condensed milk market.

Major manufacturers of sweet condensed milk include Nestlé, Royal FrieslandCampina N.V, GCMMF, Vinamilk, Fraser & Neave Holdings Bhd, Eagle Family Foods LLC, Goya Foods, Inc, Belgorod Dairy Products OJSC, Santini Foods, Inc., and DANA DAIRY GROUP.

Purchasing power of consumers, spending on bakery products, import & export scenario, and E-commerce retail sales are some macroeconomic factors that affect the market.

Households, restaurant & cafes, infant food producers, bakery, and confectionary are some of the major end-users of sweet condensed milk.

According to this Growth Market Reports report, the global sweet condensed milk market is likely to register a CAGR of 3.2% during the forecast period 2020-2028, with an anticipated valuation of USD 8,853.7 Million by the end of 2030.

Growing demand for desserts and beverages, changing consumer dynamics for sweet condensed milk, high nutritional value, and long shelf life of sweet condensed milk are some factors that are driving the sweet condensed milk market.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Additional company profiles are provided on request.