UHT Milk market to hit $74 billion in 2024, soaring to $138.9 billion by 2034
The increasing demand for skimmed UHT milk, which contains low or no fat, is appealing to health-conscious consumers. This type of milk, rich in calcium and vitamins, is gaining popularity as a part of healthy eating practices.
In China, sales of UHT milk are forecasted to grow at a CAGR of 6.5%, reaching USD 15.2 billion by 2034. This growth is driven by an expanding workforce and a rising population, with UHT milk being a convenient alternative to fresh milk. Additionally, the influence of Western culture is providing lucrative opportunities for market players.
Globally, the UHT milk market is anticipated to grow at a CAGR of 6.5% from 2024 to 2034, with bottle-packed UHT milk expected to make up 53.3% of the market revenue by 2034. Sales of skimmed UHT milk are projected to grow at a 7% CAGR, reaching USD 63.4 billion by 2034. In South Korea, the market is expected to increase at a CAGR of 7.3%, while Japan’s market is forecasted to grow at a 7% CAGR.
North America is projected to hold a 24.3% share of the global market revenue by 2034. A Fact.MR analyst notes that market players should invest in technological advancements to offer UHT milk with enhanced nutrients, taste, and shelf life.
Convenience and reusability boost bottle-packed UHT Milk sales
The global demand for bottle-packed UHT milk is projected to grow at a CAGR of 6.4%, reaching a market value of USD 74.1 billion by 2034. The convenience and reusability of plastic and glass bottles are driving this trend.
North America and East Asia set for significant UHT Milk market growth by 2034
Fact.MR’s analysis highlights North America’s contribution of 24.3% to the global market share by 2034. The region’s higher spending capacity, coupled with the lower prices and nutritional value of UHT milk, is boosting sales. The United States is expected to account for 45.6% of North America’s market revenue share by 2034, benefiting from logistical advantages and various packaging options that facilitate easy storage and transportation.
In East Asia, China is anticipated to capture 47.5% of the market share by 2034. The increasing demand is linked to lifestyle changes and a growing population, with a shift toward Western culture and premium products creating opportunities for UHT milk suppliers. Japan is expected to hold 29.4% of the East Asian market revenue share by 2034, with UHT milk being favored for its longer shelf life and easy storage.
