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Australia Condensed Milk Market Size, Share, Trends, Growth: By Type: Dairy Based, Non-Dairy Based; By Product Type: Flavoured, Skimmed, Part Skimmed, Sweetened, Unsweetened; By Packaging Type: Bottles, Tubes, Cans; By Application; By End Use; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Australia Condensed Milk Market Outlook
The Australia condensed milk market size is expected to grow at a CAGR of 4.1% between 2024 and 2032.
Key Takeaways
- As per industry reports, Australia has a population of approximately 2.5 million individuals who adhere to vegan or vegetarian lifestyles, representing a significant segment of the populace. Specifically, 6% of Australians identify as vegan, showcasing a growing trend towards plant-based diets.
- According to industry report estimates, roughly 4% of the Australian population grapples with lactose intolerance, a condition more commonly observed in women than in men, with a ratio of three to one. Moreover, there is an observed increase in lactose intolerance among women, particularly those aged 25-34, while prevalence remains stable among men.
Condensed milk, a product derived from milk with water removed and sugar added, is witnessing a surge in demand, fuelled by various factors. The trend towards dairy-free alternatives, driven by increased awareness through campaigns and social media, is a significant contributor. Moreover, the lactose-intolerant community is embracing these products, enabling them to enjoy desserts without limitations. Additionally, individuals with a sustainable mindset prefer vegan and non-dairy options due to ethical concerns about animal cruelty while playing an important role in the Australia condensed milk market development.
The condensed milk market is poised for substantial growth in the foreseeable future, buoyed by several advantages associated with non-dairy products. Plant-based dairy imports and exports have notably increased, underscoring the market's expansion. The increasing awareness regarding skim condensed milk is also a driving force, expected to further propel market growth.
Condensed milk finds extensive use in desserts and bakery items, imparting a creamy texture and sweetness to finished products. It contains essential nutrients such as calcium, potassium, magnesium, and vitamin A, promoting bone health. However, the market faces challenges from substitutes like regular milk, evaporated milk, and cream of coconut, which offer similar consistency and sweetness.
Despite these substitutes, condensed milk remains an integral ingredient in various culinary traditions worldwide, particularly in Asian and Latin American cuisines. It serves as both sugar and syrup in baked goods and is commonly used in confectionery items like candies, cakes, and milk sweets.
The condensed milk market in Australia is expected to thrive due to consumer demand for products with longer shelf life and higher quality. The introduction of cost-effective options and the versatility of sweetened condensed milk, which maintains freshness even after opening, are anticipated to further drive market growth.
Market Segmentation
Australia Condensed Milk Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Dairy Based
- Non-Dairy Based
Market Breakup by Product Type
- Flavoured
- Skimmed
- Part Skimmed
- Sweetened
- Unsweetened
Market Breakup by Packaging Type
- Bottles
- Tubes
- Cans
Market Breakup by Application
- Confectionary
- Food and Beverages
- Bakery
- Others
Market Breakup by End Use
- Household
- Commercial
Market Breakup by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Online
- Specialty Stores
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Western Australia
- Australian Capital Territory
- Others
Competitive Landscape
Key players in the condensed milk in Australia process and manufacture products to support the end users in the market.
- Nestlé SA
- Dr. Peanut Australia
- Saputo Dairy Australia Pty Ltd.
- The Natural Foods Trading Company (NFTC)
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
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| Breakup by Packaging Type |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Condensed Milk Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Condensed Milk Historical Market (2018-2023)
8.3 Asia Pacific Condensed Milk Market Forecast (2024-2032)
9 Australia Condensed Milk Market Overview
9.1 Key Industry Highlights
9.2 Australia Condensed Milk Historical Market (2018-2023)
9.3 Australia Condensed Milk Market Forecast (2024-2032)
10 Australia Condensed Milk Market by Type
10.1 Dairy Based
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Non-Dairy Based
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Condensed Milk Market by Product Type
11.1 Flavoured
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Skimmed
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Part Skimmed
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Sweetened
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Unsweetened
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
12 Australia Condensed Milk Market by Packaging Type
12.1 Bottles
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Tubes
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Cans
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Australia Condensed Milk Market by Application
13.1 Confectionary
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Food and Beverages
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Bakery
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Australia Condensed Milk Market by End Use
14.1 Household
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Commercial
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
15 Australia Condensed Milk Market by Distribution Channel
15.1 Supermarkets & Hypermarkets
15.1.1 Historical Trend (2018-2023)
15.1.2 Forecast Trend (2024-2032)
15.2 Convenience Stores
15.2.1 Historical Trend (2018-2023)
15.2.2 Forecast Trend (2024-2032)
15.3 Online
15.3.1 Historical Trend (2018-2023)
15.3.2 Forecast Trend (2024-2032)
15.4 Specialty Stores
15.4.1 Historical Trend (2018-2023)
15.4.2 Forecast Trend (2024-2032)
15.5 Others
16 Australia Condensed Milk Market by Region
16.1 New South Wales
16.1.1 Historical Trend (2018-2023)
16.1.2 Forecast Trend (2024-2032)
16.2 Victoria
16.2.1 Historical Trend (2018-2023)
16.2.2 Forecast Trend (2024-2032)
16.3 Queensland
16.3.1 Historical Trend (2018-2023)
16.3.2 Forecast Trend (2024-2032)
16.4 Australian Capital Territory
16.4.1 Historical Trend (2018-2023)
16.4.2 Forecast Trend (2024-2032)
16.5 Western Australia
16.5.1 Historical Trend (2018-2023)
16.5.2 Forecast Trend (2024-2032)
16.6 Others
17 Market Dynamics
17.1 SWOT Analysis
17.1.1 Strengths
17.1.2 Weaknesses
17.1.3 Opportunities
17.1.4 Threats
17.2 Porter’s Five Forces Analysis
17.2.1 Supplier’s Power
17.2.2 Buyer’s Power
17.2.3 Threat of New Entrants
17.2.4 Degree of Rivalry
17.2.5 Threat of Substitutes
17.3 Key Indicators for Demand
17.4 Key Indicators for Price
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Nestlé SA
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Dr. Peanut Australia
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Saputo Dairy Australia Pty Ltd.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 The Natural Foods Trading Company (NFTC)
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Condensed Milk Market: Key Industry Highlights, 2018 and 2032
2. Australia Condensed Milk Market: Key Industry Highlights, 2018 and 2032
3. Australia Condensed Milk Historical Market: Breakup by Type (USD Million), 2018-2023
4. Australia Condensed Milk Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Australia Condensed Milk Historical Market: Breakup by Product Type (USD Million), 2018-2023
6. Australia Condensed Milk Market Forecast: Breakup by Product Type (USD Million), 2024-2032
7. Australia Condensed Milk Historical Market: Breakup by Packaging Type (USD Million), 2018-2023
8. Australia Condensed Milk Market Forecast: Breakup by Packaging Type (USD Million), 2024-2032
9. Australia Condensed Milk Historical Market: Breakup by Application (USD Million), 2018-2023
10. Australia Condensed Milk Market Forecast: Breakup by Application (USD Million), 2024-2032
11. Australia Condensed Milk Historical Market: Breakup by End Use (USD Million), 2018-2023
12. Australia Condensed Milk Market Forecast: Breakup by End Use (USD Million), 2024-2032
13. Australia Condensed Milk Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
14. Australia Condensed Milk Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
15. Australia Condensed Milk Historical Market: Breakup by Region (USD Million), 2018-2023
16. Australia Condensed Milk Market Forecast: Breakup by Region (USD Million), 2024-2032
17. Australia Condensed Milk Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is categorised according to its type, which includes dairy based and non-dairy based.
The key market players are Nestlé SA, Dr. Peanut Australia, Saputo Dairy Australia Pty Ltd., The Natural Foods Trading Company (NFTC), and others.
The market is driven by factors that include increasing applications in desserts and bakery items, rising vegan culture and growing demand for products with longer shelf life and higher quality, among others.
The market is categorised according to its product type, which includes flavoured, skimmed, part skimmed, sweetened, and unsweetened.
Malaysia leads global condensed milk production, with a substantial output of 317,206 tonnes in 2021, representing 19.30% of the total production worldwide.
Australia imposes restrictions on the importation of milk products, necessitating the acquisition of an import permit for commercial imports.
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