About Sweetened Condensed Milk
Sweetened condensed milk is milk products which can be obtained by the partial removal of water from milk with the addition of sugar, or by any other process which leads to a product of the same composition and characteristics. The fat and/or protein content of the milk may have been adjusted, only to comply with the compositional requirements in Section 3 of this Standard, by the addition and/or withdrawal of milk constituents in such a way as not to alter the whey protein to casein ratio of the milk being adjusted. New Zealand, the Netherlands, the U.S., Germany, and France are the major exporters of the sweetened condensed milk market. The major importers of sweetened condensed milk from the U.S. are Mexico, Philippines, Indonesia, Viet Nam, and Colombia
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The global Sweetened Condensed Milk market is highly concentrated and competitive due to the presence of global players engaged in product and packaging innovation strategies. Major conglomerates not related to the global industry are acquiring local vendors to expand their brand portfolio and provide investments for improving brand awareness. Such initiatives are expected to increase the competition, which will positively influence market growth in the coming years. The key market vendor are constantly making efforts to come up with new flavors in the market which is adding fuel to the growth of the market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Sweetened Condensed Milk market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Eagle Family Foods Group (United States), Nestle (Switzerland), FrieslandCampina (The Netherlands), Santini Foods (United States), DANA Dairy (Switzerland), AMUL (India), Arla Foods (Denmark), Fraser & Neave Holdings Bhd (F&NHB) (Malaysia), Vinamilk (Vietnam) and The Dutch Lady (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Belgorod Dairy Products OJSC (Malaysia) and Goya Foods (United States).
AMA Research has segmented the market of Global Sweetened Condensed Milk market by Type (Flavored and Unflavored), Application (Infant Food, Dairy products, Bakeries, Confectionery and Others) and Region.
On the basis of geography, the market of Sweetened Condensed Milk has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets and Hypermarkets will boost the Sweetened Condensed Milk market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging Type, the sub-segment i.e. Cans will boost the Sweetened Condensed Milk market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Elevating confectionery industry and increasing demand for dairy products and High Demand due to Avalability of various Flavors
Market Growth Drivers:
The Rise in Demand for Desserts as well as Changing Consumer Preferences and High Adoption due to Longer Shelf Life
The Strigent Government Regulation Related to Food Products
The concern Related to High Calorie and Fat Content in Sweetened Condensed Milk
Introduction of Low Calorie or Fat-Free Sweetened Condensed Milk and Upsurging Demand due to Innovative Marketing and Promotion Startegies
In addition to the provisions of the General Standard for the Labelling of Prepackaged Foods and the General Standard for the Use of Dairy Terms, the following specific provisions apply, 1.Name of the food 2. Declaration of milkfat content 3. Declaration of milk protein 4. List of ingredients 5.Labelling of non-retail containers
Key Target AudienceSweetened condensed milk manufacturers, Food processors, Dairy industry, Retailers, wholesaler, and distributor, Food and beverage specialists and Traders, importers, and exporters
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.