The dry, condensed, and evaporated dairy product market consists of sales of dry, condensed, and evaporated dairy products by entities (organizations, sole traders and partnerships) that produce dry, condensed and evaporated milk and dairy substitute products. The companies in the industry package and distribute their products through various distribution channels to both individual customers and commercial establishments. The dry, condensed, and evaporated dairy product market is segmented into dry dairy product; condensed dairy product and evaporated dairy product.
The global dry, condensed, and evaporated dairy products market is expected to grow from $85.46 billion in 2020 to $93.46 billion in 2021 at a compound annual growth rate (CAGR) of 9.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $118 billion in 2025 at a CAGR of 6%.
