Sweetened Condensed Milk Market Size, Share & Trends Analysis Report By Product (Unflavored, Flavored), By Packaging (Cans, Bottles, Tubes, Other), By Region, And Segment Forecasts, 2025 - 2030

PUBLISHED: December 5, 2024

PAGES: 100 Pages

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The global sweetened condensed milk market size is expected to reach USD 11.43 billion by 2030, registering a CAGR of 4.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. Long shelf life of the product, along with innovating packaging techniques, is expected to positively influence the market growth in the next few years.

Unflavored sweetened condensed milk dominated the global market in 2018. The product consumption has increased as a substitute for milk in countries like Thailand, Vietnam, and Indonesia. These countries use the product as a base for many traditional sweet dishes and beverages like teh terik. However, flavored variants such as caramel and chocolate are expected to witness substantial growth during the forecast period owing to popularity of these flavors among kids.

Can packaging type accounted for the maximum share in 2018, followed by bottles. High visibility of aluminum cans owing to its high recycling ability and low food spoilage rate is a main factor driving the market for can over the forecast period. However, consumer preference has shifted from cans to tubes owing to their convenient use and storage and introduction of milk tubes. These factors are expected to contribute to the overall growth of the market during the projected period.

Europe occupied the largest market share in 2018 owing to increase in production and consumption of sweetened condensed milk as a major beverage ingredient. Countries such as Germany, Poland, and U.K. contributed to the regional market growth. Consumption of this product is expected to reduce significantly due to its high calorie content and increasing awareness related to obesity.

However, the industry has high growth potential in Asia Pacific due to increasing consumption of the product in Vietnam and Malaysia. For instance, Vinamilk, one of the major players, is focusing on improving its brand penetration in Southeast Asia owing to huge demand for dairy products in these countries. This is expected to drive the overall market in the coming years.

Sweetened Condensed Milk Market Report Highlights:

The unflavored product segment dominated the global sweetened condensed milk industry with a revenue share of 73.0% in 2024.
Eagle brand, one of the most popular brands of sweet condensed milk, launched caramel and chocolate flavored, along with a series of recipes. The flavors were launched during the holiday season in 2015 to improve product consumption and increase product sales
Fraser & Neave Holdings Bhd (F&NHB) launched Milk Stix and Squeeze Tube, Malaysia's first full cream sweetened condensed milk in such packaging to increase product sales.

Product Code: GVR-3-68038-460-4

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
1.4. Information Analysis
- 1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot

Chapter 3. Sweetened Condensed Milk Market Variables, Trends & Scope

3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
3.2. Industry Value Chain Analysis
- 3.2.1. Profit Margin Analysis (Industry-level)
3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Market Opportunities
- 3.3.4. Market Challenges
3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
3.5. Market Entry Strategies

Chapter 4. Consumer Behavior Analysis

4.1. Demographic Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Ingredient Adoption
4.5. Observations & Recommendations

Chapter 5. Sweetened Condensed Milk Market: Product Estimates & Trend Analysis

5.1. Sweetened condensed milk Market, By Product: Key Takeaways
5.2. Product Movement Analysis & Market Share, 2024 & 2030
5.3. Market Estimates & Forecasts, By Product, 2018 - 2030 (USD Million)
- 5.3.1. Unflavored
  - 5.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 5.3.2. Flavored
  - 5.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)

Chapter 6. Sweetened Condensed Milk Market: Packaging Estimates & Trend Analysis

6.1. Sweetened condensed milk Market, By Packaging: Key Takeaways
6.2. Packaging Movement Analysis & Market Share, 2024 & 2030
6.3. Market Estimates & Forecasts, by Packaging, 2018 - 2030 (USD Million)
- 6.3.1. Cans
  - 6.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 6.3.2. Bottles
  - 6.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 6.3.3. Tubes
  - 6.3.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 6.3.4. Other
  - 6.3.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)

Chapter 7. Sweetened Condensed Milk Market: Regional Estimates & Trend Analysis

7.1. Sweetened condensed milk Market: Regional Outlook
7.2. Regional Marketplaces: Key Takeaways
7.3. Market Estimates & Forecasts, by Region, 2018 - 2030 (USD Million)
- 7.3.1. North America
  - 7.3.1.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.1.2. U.S.
    - 7.3.1.2.1. Key Country Dynamics
    - 7.3.1.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.1.3. Canada
    - 7.3.1.3.1. Key Country Dynamics
    - 7.3.1.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.1.4. Mexico
    - 7.3.1.4.1. Key Country Dynamics
    - 7.3.1.4.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.2. Europe
  - 7.3.2.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.2.2. Germany
    - 7.3.2.2.1. Key Country Dynamics
    - 7.3.2.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.2.3. Poland
    - 7.3.2.3.1. Key Country Dynamics
    - 7.3.2.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.2.4. U.K.
    - 7.3.2.4.1. Key Country Dynamics
    - 7.3.2.4.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.2.5. Italy
    - 7.3.2.5.1. Key Country Dynamics
    - 7.3.2.5.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.2.6. France
    - 7.3.2.6.1. Key Country Dynamics
    - 7.3.2.6.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.3. Asia Pacific
  - 7.3.3.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.3.2. Japan
    - 7.3.3.2.1. Key Country Dynamics
    - 7.3.3.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.3.3. China
    - 7.3.3.3.1. Key Country Dynamics
    - 7.3.3.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.3.4. India
    - 7.3.3.4.1. Key Country Dynamics
    - 7.3.3.4.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.3.5. Australia
    - 7.3.3.5.1. Key Country Dynamics
    - 7.3.3.5.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.3.6. South Korea
    - 7.3.3.6.1. Key Country Dynamics
    - 7.3.3.6.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.4. Latin America
  - 7.3.4.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.4.2. Chile
    - 7.3.4.2.1. Key Country Dynamics
    - 7.3.4.2.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
  - 7.3.4.3. Brazil
    - 7.3.4.3.1. Key Country Dynamics
    - 7.3.4.3.2. Market Estimates and Forecast, 2018 - 2030 (USD Million)
- 7.3.5. Middle East
  - 7.3.5.1. Market Estimates and Forecast, 2018 - 2030 (USD Million)

Chapter 8. Sweetened Condensed Milk Market: Competitive Analysis

8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company Categorization
8.3. Participant's Overview
8.4. Financial Performance
8.5. Ingredient Benchmarking
8.6. Company Heat Map Analysis
8.7. Strategy Mapping
8.8. Company Profiles
- 8.8.1. Eagle Family Foods Group LLC
  - 8.8.1.1. Company Overview
  - 8.8.1.2. Financial Performance
  - 8.8.1.3. Ingredient Portfolios
  - 8.8.1.4. Strategic Initiatives
- 8.8.2. Nestle
  - 8.8.2.1. Company Overview
  - 8.8.2.2. Financial Performance
  - 8.8.2.3. Ingredient Portfolios
  - 8.8.2.4. Strategic Initiatives
- 8.8.3. Fraser & Neave Holdings Bhd
  - 8.8.3.1. Company Overview
  - 8.8.3.2. Financial Performance
  - 8.8.3.3. Ingredient Portfolios
  - 8.8.3.4. Strategic Initiatives
- 8.8.4. Amul (GCMMF)
  - 8.8.4.1. Company Overview
  - 8.8.4.2. Financial Performance
  - 8.8.4.3. Ingredient Portfolios
  - 8.8.4.4. Strategic Initiatives
- 8.8.5. Vinamilk
  - 8.8.5.1. Company Overview
  - 8.8.5.2. Financial Performance
  - 8.8.5.3. Ingredient Portfolios
  - 8.8.5.4. Strategic Initiatives
- 8.8.6. Dutch Lady Milk Industries Bhd
  - 8.8.6.1. Company Overview
  - 8.8.6.2. Financial Performance
  - 8.8.6.3. Ingredient Portfolios
  - 8.8.6.4. Strategic Initiatives
- 8.8.7. Belgorod Dairy Products OJSC
  - 8.8.7.1. Company Overview
  - 8.8.7.2. Financial Performance
  - 8.8.7.3. Ingredient Portfolios
  - 8.8.7.4. Strategic Initiatives
- 8.8.8. Goya Foods, Inc.
  - 8.8.8.1. Company Overview
  - 8.8.8.2. Financial Performance
  - 8.8.8.3. Ingredient Portfolios
  - 8.8.8.4. Strategic Initiatives
- 8.8.9. Magnolia
  - 8.8.9.1. Company Overview
  - 8.8.9.2. Financial Performance
  - 8.8.9.3. Ingredient Portfolios
  - 8.8.9.4. Strategic Initiatives
- 8.8.10. DANA DAIRY GROUP
  - 8.8.10.1. Company Overview
  - 8.8.10.2. Financial Performance
  - 8.8.10.3. Ingredient Portfolios
  - 8.8.10.4. Strategic Initiatives

Product Code: GVR-3-68038-460-4

List of Tables

Table 1 Global sweetened condensed milk market: Key market driver analysis
Table 2 Global sweetened condensed milk market: Key market restraint analysis
Table 3 Global sweetened condensed milk market estimates & forecast, by region (USD Million)
Table 4 Global sweetened condensed milk market estimates & forecast, by product (USD Million)
Table 5 Global sweetened condensed milk market estimates & forecast, by packaging (USD Million)
Table 6 North America sweetened condensed milk market estimates and forecast, by country, 2018 - 2030 (USD Million)
Table 7 North America sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 8 North America sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 9 U.S. macro-economic outlay
Table 10 U.S sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 11 U.S sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 12 Canada macro-economic outlay
Table 13 Canada sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 14 Canada sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 15 Mexico macro-economic outlay
Table 16 Mexico sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 17 Mexico sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 18 Europe sweetened condensed milk market estimates and forecast, by country, 2018 - 2030 (USD Million)
Table 19 Europe sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 20 Europe sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 21 Germany macro-economic outlay
Table 22 Germany sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 23 Germany sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 24 Poland macro-economic outlay
Table 25 Poland sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 26 Poland sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 27 U.K. macro-economic outlay
Table 28 U.K. sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 29 U.K. sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 30 Italy macro-economic outlay
Table 31 Italy sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 32 Italy sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 33 France macro-economic outlay
Table 34 France sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 35 France sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 36 Asia Pacific sweetened condensed milk market estimates and forecast, by country, 2018 - 2030 (USD Million)
Table 37 Asia Pacific sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 38 Asia Pacific sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 39 Japan macro-economic outlay
Table 40 Japan sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 41 Japan sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 42 China macro-economic outlay
Table 43 China sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 44 China sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 45 India macro-economic outlay
Table 46 India sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 47 India sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 48 Australia macro-economic outlay
Table 49 Australia sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 50 Australia sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 51 South Korea macro-economic outlay
Table 52 South Korea sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 53 South Korea sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 54 Latin America sweetened condensed milk market estimates and forecast, by country, 2018 - 2030 (USD Million)
Table 55 Latin America sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 56 Latin America sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 57 Chile macro-economic outlay
Table 58 Chile sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 59 Chile sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 60 Brazil macro-economic outlay
Table 61 Brazil sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 62 Brazil sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 63 Middle East & Africa sweetened condensed milk market estimates and forecast, by country, 2018 - 2030 (USD Million)
Table 64 Middle East & Africa sweetened condensed milk market estimates and forecast, by product, 2018 - 2030 (USD Million)
Table 65 Middle East & Africa sweetened condensed milk market estimates and forecast, by packaging, 2018 - 2030 (USD Million)
Table 66 Recent developments & impact analysis, by key market participants
Table 67 Company heat map analysis, 2024
Table 68 Companies implementing key strategies

List of Figures

Fig. 1 Sweetened condensed milk market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research approaches
Fig. 5 Primary research process
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Regional snapshot
Fig. 9 Competitive landscape snapshot
Fig. 10 Global parent industry and sweetened condensed milk market size (USD Million)
Fig. 11 Global sweetened condensed milk market size, 2018 to 2030 (USD Million)
Fig. 12 Global sweetened condensed milk market: Penetration & growth prospect mapping
Fig. 13 Global sweetened condensed milk market: Value chain analysis
Fig. 14 Global sweetened condensed milk market: Dynamics
Fig. 15 Global sweetened condensed milk market: Porter's five forces analysis
Fig. 16 Global sweetened condensed milk market estimates & forecast, by product (USD Million)
Fig. 17 Unflavored sweetened condensed milk market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 18 Flavored sweetened condensed milk market estimates & forecasts, 2018 - 2030 (USD Million)
Fig. 19 Global sweetened condensed milk market estimates & forecast, by packaging (USD Million)
Fig. 20 Sweetened condensed milk cans market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 21 Sweetened condensed milk bottles market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 22 Sweetened condensed milk tubes market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 23 Other packaged sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 24 Sweetened condensed milk market: Regional outlook, 2024 & 2030 (USD Million)
Fig. 25 Regional marketplace: Key takeaways
Fig. 26 North America sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 27 U.S. sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 28 Canada sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 29 Mexico sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 30 Europe sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 31 Germany sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 32 Poland sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 33 U.K. sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 34 Italy sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 35 France sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 36 Asia Pacific sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 37 China sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 38 India sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 39 Japan sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 40 Australia sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 41 South Korea sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 42 Latin America sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 43 Chile sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 44 Brazil sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 45 Middle East sweetened condensed milk market estimates & forecast, 2018 - 2030 (USD Million)
Fig. 46 Key company categorization
Fig. 47 Strategic framework of sweetened condensed milk