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The Evaporated Milk market was valued at $5,707.8 Million in 2023, and is projected to reach $6,986.6 Million by 2030 growing at a CAGR of 2.98% from 2024 to 2030. Whole segment is expected to be the highest contributor to this market, with $3,207.6 Million in 2023, and is anticipated to reach $3,917.2 Million by 2030, registering a CAGR of 2.95%. Skimmed segment is anticipated to reach $3,069.3 Million by 2030 with the highest CAGR of 3.03%. The global evaporated milk market is experiencing steady growth, driven by its wide scope of applications, high nutritional value, long shelf life, and affordable price. Evaporated milk has numerous health benefits and is a popular choice for various applications, including food processing, beverages, and culinary uses. The market is segmented into skimmed and whole evaporated milk, with both types having distinct nutritional profiles and uses. Distribution channels include online and offline platforms, with offline channels being the dominant mode of sale. Geographically, the market is spread across North America, Europe, Asia-Pacific, and the rest of the world, with each region having its own unique demand dynamics. Key players in the market include Nestle, Arla, DANA Dairy, Fraser and Neave, and Friesland Campina, among others. These companies are focusing on expanding their product portfolios, improving distribution networks, and investing in marketing initiatives to increase brand awareness. Despite its popularity, the evaporated milk market faces challenges such as cost, availability, taste, nutritional value, and allergies. However, the market is expected to continue growing, driven by increasing demand from emerging markets, growing health consciousness, and rising adoption in food processing and culinary applications.