LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global packaged condensed milk market report. This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
Value-added dairy products are gaining popularity among consumers as snacking and breakfast options. Portability is a trend that is increasing the demand for ready-to-drink (RTD) beverages and on-the-go products among both adults and children. Thus, players in the market are promoting dairy products with factors like nutrition, convenience, and taste options. Also, it is expected that the growth of the global dairy market will be spurred by increasing per capita consumption of milk and increasing demand for dairy products such as cheese and others in developing countries such as China, India, and Brazil.
Competitive vendor landscape
The global packaged condensed milk market is highly fragmented because of the presence of numerous small and large players. Players in the market compete on parameters like price, quality, innovation, service, reputation, distribution, and promotion. Increasing competition among players often causes a reduction in the prices of the products, which negatively affect the players' margins and market growth.
“Intense competition among vendors, coupled with rapid technological changes, constitutes a significant risk factor to vendor operations. The influx of private labels in the market is also on the rise. Therefore, to survive and succeed in a stiff competitive environment, it becomes imperative for vendors in the market to distinguish their product and service offerings through a clear and unique value proposition,” says Sharan Jaganathan, a lead food research analyst from Technavio.
A rise in the prevalence of omni-channel retailing can be seen in the market as players are realizing the vital role this channel plays in ensuring that the product gets maximum visibility. Omni-channel retailing uses a mix of distribution channels like retail stores and online stores for enhancing customer engagement.
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Top five packaged condensed milk market vendors
DANA Dairy specializes in manufacturing milk (like UHT, evaporated milk, sweetened condensed milk, and milk powder), baby food (like baby cereals, baby teething biscuits, and infant formula), and dairy products (like cheese, butter, and yogurt).
Eagle Family Foods Group
Eagle Family Foods Group is currently expanding its business. In 2015, the company bought J.M. Smucker Company's US canned milk brands and operations. This included canned milk products that were primarily sold in US retail and foodservice channels under Eagle and Magnolia brands, along with other private label products. The combined annual net sales of these brands along with the private label trade names amount to approximately USD 200 million.
FrieslandCampina is currently focusing on offering high-quality, nourishing dairy products as part of its route2020 strategy, which will eventually help in the expansion and development of new products.
Nestlé manufactures and produces packaged food products. The company holds popular brands like Maggi, KitKat, Gerber, Toll House, Milo, Nestlé Pure Life, Nescafé, Coffee-Mate, Nespresso, Friskies, Purina, Buitoni, Nescafé Dolce Gusto, Herta, Stouffer's, Carnation, and others.
Santini Foods manufactures several types of condensed milk (like Full Cream (Whole) Sweetened Condensed Milk, Hi Solids Full Cream Sweetened Condensed Milk, Skim Sweetened Condensed Milk, Organic Full Cream Sweetened Condensed Milk, Filled Sweetened Condensed Milk, and others), syrups (like dark chocolate, white chocolate, caramel, and others), and sauces.
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