Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Product Type (Dry Milk Product, Condensed Milk Product, Evaporated Milk Product), By Applications (Food, Beverages, Intermediate Products, Condiments, Other) And Competitive Landscape
Product Code: ETC057185 | Publication Date: May 2021 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Asia Pacific Condensed Evaporated and Dry Milk Market |
Forecast Period | 2024-2030 |
Market Size | USD 24.7 billion by 2031 |
CAGR | 6.2% |
Growing Sector | Food and Beverage Processing |
Asia Pacific Condensed Evaporated and Dry Milk Market report thoroughly covers the market by countries, product types, and applications. The market report provides an unbiased and detailed analysis of ongoing market trends, high-growth areas, and market drivers to help stakeholders align strategies with current and future market dynamics.
The Asia Pacific Condensed Evaporated and Dry Milk Market was valued at approximately USD 16.2 billion in 2025 and is projected to reach USD 24.7 billion by 2031, growing at a CAGR of 6.2% during the forecast period. The market growth is driven by rising demand for shelf-stable dairy products across food and beverage sectors, urbanization trends, and increasing per capita milk consumption. Emerging economies such as India and Indonesia are key contributors to this expansion, with growing middle-class populations and changing dietary preferences bolstering market demand.
The Asia Pacific market for condensed, evaporated, and dry milk products is witnessing robust growth, fueled by evolving consumer habits, increasing food processing activities, and the region’s burgeoning foodservice industry. The convenience and longer shelf life of these milk products make them ideal for urban consumers and industrial applications. The market is further supported by the region's reliance on affordable dairy alternatives for regions with limited fresh milk access.
According to 6Wresearch, the Asia Pacific Condensed Evaporated and Dry Milk Market is anticipated to grow at a CAGR of 6.2% during the forecast period 2025-2031. The Asia Pacific market is propelled by rising consumer demand for shelf-stable dairy products, particularly in densely populated urban centers. Increasing incomes and a growing awareness of dairy’s nutritional benefits have led to higher demand for fortified and enriched condensed, evaporated, and dry milk products. Additionally, the rapid expansion of food and beverage processing industries across countries like India, China, and Thailand has driven the need for these products as essential intermediate ingredients. This trend is reflecting in the Asia Pacific Condensed Evaporated and Dry Milk Market Growth.
However, the market faces challenges such as fluctuating raw milk prices, which directly impact production costs and product affordability. Regulatory differences across countries can also create complexities for manufacturers seeking to operate regionally. Furthermore, the growing competition from plant-based dairy alternatives presents a significant challenge to traditional dairy-based condensed, evaporated, and dry milk products. Despite these hurdles, the market continues to grow due to innovations in packaging and formulations. Manufacturers are introducing low-fat, sugar-free, and enriched variants to address consumer health concerns. Additionally, government subsidies in key dairy-producing nations are supporting the industry’s growth by reducing production costs and ensuring stable supply chains.
The Asia Pacific Condensed Evaporated and Dry Milk Market is undergoing significant transformation, driven by evolving consumer preferences and industry innovations. One major trend is the rising demand for fortified and value-added products. Consumers are increasingly seeking condensed and evaporated milk products enriched with calcium, vitamins, and probiotics for added health benefits. The growing popularity of e-commerce platforms in Asia Pacific is also reshaping distribution dynamics. Online retail channels have provided consumers with easier access to a wide variety of dairy products, including specialized variants such as organic or lactose-free options. This shift toward digital platforms is not only enhancing product accessibility but also enabling manufacturers to reach untapped rural markets.
The Asia Pacific market offers lucrative opportunities for investors, particularly in value-added and fortified product segments. With rising consumer focus on health and wellness, companies that invest in developing enriched condensed, evaporated, and dry milk products stand to gain a competitive edge. Additionally, the growing demand for eco-friendly packaging and sustainable production methods presents an area ripe for investment. Companies that adopt innovative and recyclable packaging materials are well-positioned to attract environmentally conscious consumers while complying with stringent government regulations.
Prominent players in the market include Nestlé S.A., FrieslandCampina, Arla Foods, Fonterra Co-operative Group, and Danone S.A. These companies leverage strong brand recognition and advanced dairy processing capabilities to maintain a significant market share. Many of them are investing in regional production facilities and localized product innovations to cater to diverse consumer preferences across the Asia Pacific region.
Government regulations significantly influence the Asia Pacific Condensed Evaporated and Dry Milk Market, primarily focusing on product safety, labeling, and nutritional standards. Countries like China and India have stringent guidelines regarding product quality and labeling to ensure consumer protection. Import-export policies also play a critical role, with several countries imposing tariffs or offering subsidies to protect domestic dairy industries. For example, India’s dairy policies encourage local production by limiting imports of condensed and evaporated milk products. Sustainability is another regulatory focus, as governments increasingly mandate eco-friendly packaging and reduced carbon footprints in manufacturing. Manufacturers must comply with these guidelines to avoid penalties and maintain their market reputation.
The Asia Pacific Condensed Evaporated and Dry Milk Market is poised for substantial growth over the coming years. With urbanization and lifestyle shifts driving demand for convenient and shelf-stable dairy products, companies that innovate to meet these preferences will thrive. The increasing adoption of advanced dairy technologies will enable manufacturers to produce fortified and functional milk products tailored to health-conscious consumers. Furthermore, the rise of plant-based alternatives is expected to influence the market, encouraging traditional manufacturers to diversify their portfolios. E-commerce growth across the region will further expand the market, providing consumers with access to a wide range of products and enabling manufacturers to explore new revenue streams. Companies that leverage digital marketing and direct-to-consumer sales models will be better positioned to capture emerging opportunities.
The report offers a comprehensive study of the following market segments and their leading categories
According to Ashutosh, Senior Research Analyst, 6Wresearch, the dry milk products are expected to dominate the Asia Pacific Condensed Evaporated and Dry Milk Market by 2031, driven by their versatility and longer shelf life. With a rising demand for powdered milk in food and beverage applications, this segment is projected to reach a market value of USD 4.7 billion by 2031. The convenience of storage and transportation makes it highly suitable for both consumers and industries.
The food sector is anticipated to be the leading application of condensed, evaporated, and dry milk in the Asia Pacific region, accounting for USD 6.5 billion by 2031. Its growing use in baked goods, desserts, and ready-to-eat meals is a significant driver for this segment. Additionally, the rising trend of home cooking and bakery activities post-pandemic has boosted demand for milk-based ingredients in this sector.
China and India are forecasted to dominate the Asia Pacific Condensed Evaporated and Dry Milk Market by 2031, collectively contributing over 60% of the market share. China’s urbanization and demand for convenient dairy products, combined with India’s increasing population and growing dairy consumption, position these countries as key growth drivers. By 2031, the combined market value of these two nations is expected to surpass USD 8 billion.
The Market Report includes the following segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Condensed, Evaporated and Dry Milk Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Condensed, Evaporated and Dry Milk Market Revenues & Volume, 2021 & 2031F |
3.3 Asia Pacific Condensed, Evaporated and Dry Milk Market - Industry Life Cycle |
3.4 Asia Pacific Condensed, Evaporated and Dry Milk Market - Porter's Five Forces |
3.5 Asia Pacific Condensed, Evaporated and Dry Milk Market Revenues & Volume Share, By Countries, 2021 & 2031F |
3.6 Asia Pacific Condensed, Evaporated and Dry Milk Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
3.7 Asia Pacific Condensed, Evaporated and Dry Milk Market Revenues & Volume Share, By Applications, 2021 & 2031F |
4 Asia Pacific Condensed, Evaporated and Dry Milk Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Condensed, Evaporated and Dry Milk Market Trends |
6 Asia Pacific Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
6.1 Asia Pacific Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
6.2 Asia Pacific Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
7 China Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
7.1 China Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
7.2 China Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
8 India Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
8.1 India Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
8.2 India Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
9 Japan Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
9.1 Japan Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
9.2 Japan Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
10 Australia Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
10.1 Australia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
10.2 Australia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
11 Indonesia Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
11.1 Indonesia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
11.2 Indonesia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
12 Philippines Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
12.1 Philippines Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
12.2 Philippines Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
13 Thailand Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
13.1 Thailand Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
13.2 Thailand Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
14 Malaysia Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
14.1 Malaysia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
14.2 Malaysia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
15 Singapore Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
16 Rest of Asia Condensed, Evaporated and Dry Milk Market, 2021 - 2031 |
16.1 Rest of Asia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Product Type, 2021 - 2031 |
16.2 Rest of Asia Condensed, Evaporated and Dry Milk Market, Revenues & Volume, By Applications, 2021 - 2031 |
17 Asia Pacific Condensed, Evaporated and Dry Milk Market Key Performance Indicators |
18 Asia Pacific Condensed, Evaporated and Dry Milk Market - Opportunity Assessment |
18.1 Asia Pacific Condensed, Evaporated and Dry Milk Market Opportunity Assessment, By Countries, 2021 & 2031F |
18.2 Asia Pacific Condensed, Evaporated and Dry Milk Market Opportunity Assessment, By Product Type, 2021 & 2031F |
18.3 Asia Pacific Condensed, Evaporated and Dry Milk Market Opportunity Assessment, By Applications, 2021 & 2031F |
19 Asia Pacific Condensed, Evaporated and Dry Milk Market - Competitive Landscape |
19.1 Asia Pacific Condensed, Evaporated and Dry Milk Market Revenue Share, By Companies, 2024 |
19.2 Asia Pacific Condensed, Evaporated and Dry Milk Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |