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This market research report on the global goat milk powder market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product type (skimmed and full cream milk powder), by end-products (infant & follow-on formula, cheese, dietary supplements, yogurt, chocolate, and others), by distribution channels (hypermarkets & supermarkets, convivence stores, specialty stores, medical & pharmacy stores, and others), and by geography (APAC, Europe, North America, Latin America, and MEA).
Goat Milk Powder Market - Overview
The increasing awareness about the benefits, high nutrient content, and easier digestibility of the products is fueling the growth of the global goat milk powder market. Goat milk products are sources of the high amount of vitamin and protein and other minerals such as calcium, magnesium, and phosphorus. The increasing number of consumers with lactose malabsorption and cow milk allergies will fuel the adoption of these products in the global market. As per estimates by the research analysts at Arizton, approximately 65% of the worldwide population has a lower ability for lactose digestion after the infant age. The high amount of calcium and protein which is essential for growth and maintaining robust health will drive the use of goat milk powder for the production of infant and follow-on formulas in the market. The use of this dairy to produce other products such as milk powder, yogurt and butter will add to the growing revenues in the global market. The Asian countries with the largest goat population are China, India, Pakistan, and Bangladesh. In Africa, the largest goat population exists in Sudan, Nigeria, and Kenya. India, Bangladesh, Sudan, Pakistan, and Mali and are the top five milk producing countries in the world. The growing preference for healthier and more sustainable food products that have higher nutritional content will create lucrative opportunities for leading vendors operating in the global market. The adoption of fresh and natural products that promote good health and wellness will transform the market over the next few years. The APAC region and Africa account for more than 80% of production in the global goat milk powder market.
The emergence of European countries such as Germany, the UK, France, the Netherlands, and Spain as the major importers and exporters of goat cheese will positively impact the global market. The rise of new trade benefits that aid the availability of dairy products with the help of chillers and cold chain logistics for categories like yogurt and fresh milk will propel the growth of the market. The global goat milk powder market is expected to reach revenues of around $5 billion by 2024, growing at a CAGR of approximately 9% during 2018-2024. The market research report also offers market share analysis in terms of volumes (tons) during the forecast period.
Goat Milk Powder Market - Dynamics
The growing demand from emerging countries will create lucrative opportunities for leading vendors operating in the global goat milk powder market. The emerging economies of the APAC region are expected to witness the fastest growing in the worldwide market. China is among the largest revenue generators in the APAC region with a surge in demand for infant formulas and goat cheese in the market. The rising disposable income and growing demand for imported food products are the major factors attributing to the growth of the market in China and other emerging countries. Southeast Asian countries are poised to grow at a tremendous rate because of the higher spending power of buyers in several countries. The advancements in lifestyle coupled with rising consumer expenditure are likely to increase the penetration of these products across the APAC countries in the global goat milk powder market.
Goat Milk Powder Market –Segmentation
This market research report includes a detailed segmentation of the market by product type, end-products, distribution channels, and geography.
Goat Milk Powder Market – By Product Type
The rising number of health-conscious consumers is fueling the demand for skimmed products in the global goat milk powder market
The global goat milk powder market by product type is classified into skimmed and full cream milk powder. The skimmed milk power segment dominated more than half of the total market share in 2018, growing at a CAGR of more than 9% during the forecast period. The rapidly changing food habits and health issues such as obesity and high level of cholesterol are fueling the growth of this segment in the global market. The rising number of health-conscious consumers are increasingly adopting products that provide higher nutritional benefits and lower fat content in the worldwide market. Skimmed milk powder is produced by heating, or spray drying skimmed milk and is obtained by removing the fat content from full cream milk. The vendors are offering a variety of skimmed milk products such as yogurt, ice cream, chocolates, infant and baby formula, dietary supplements, and others to gain a larger global goat milk powder market. Meyenberg, AVH, Goat partners international, CBM, Hewitt’s Dairy, and others are the leading brands offering skimmed milk products in the market.
Full fat milk is used for a variety of foods such as ice-cream and cheese and in cosmetics such as soaps in the global market. The rising demand for infant formula is driving the demand for full cream milk powder in the market. FIT, CBM, AVH Dairy, and Red Star are offering full-fat products in the global goat milk powder market.
Goat Milk Powder Market – By End-products
Demand for infant and follow-on formulas across Asian Pacific countries is contributing to the revenues in the global goat milk powder market
The end-products segment in the global goat milk powder market is divided into infant & follow-on formula, cheese, dietary supplements, yogurt, chocolate, and others. Infant & follow-on formula is the fastest growing segment in the global market, at a CAGR of more than 9% during the forecast period. The increasing number of babies suffering from milk allergies and indigestion is driving the demand for these products in the global market. The nutritional content of goat dairy is very high, and it is the closest alternative to human breast milk in the worldwide market. The changing lifestyles and declining rates of breastfeeding globally will propel the demand for goat dairy infant & follow-on formula in the market. As per a recent report published by UNICEF, the high-income countries have the lowest rates of breastfeeding, about 20% of the babies has never been breastfed. APAC is the largest consumer and fastest growing region for infant & follow-on formula in the global goat milk powder market.
With the rising popularity of goat cheese globally, new varieties of goat cheese are being introduced in the global market. The easier digestibility of these products makes it a highly suitable alternative for individuals with cow milk allergies and lactose malabsorption in the market. Artisan du Chocolate, Mast Brothers, Manao Chocolates, Billy Goat Stuff, and Jordi Chocolates are some of the most popular chocolate brands in the global goat milk powder market.
Goat Milk Powder Market – By Distribution Channels
Extra discounts and product-bundling offers in hypermarkets & supermarkets are driving the global goat milk powder market
The global goat milk powder market by distribution channels is segmented into hypermarkets & supermarkets, convivence stores, specialty stores, medical & pharmacy stores, and others. Hypermarkets & supermarkets occupied approximately half of the total market share in 2018. The presence of all types of grocery products under one roof is boosting the retail sales of hypermarkets & supermarkets in the global market. These stores serve as a one-stop destination for many other related foods and dairy goods in the global market. Hypermarkets and supermarkets offer extra discounts, and product-bundling offers to attract the maximum number of consumers in the market. Walmart, Whole Foods Market, Costco, and Kroger are major retailers in North America and Auchan, Tesco, Carrefour, and Argos are leading players in Europe. The diverse product range and value-added offers will augment the development of this segment in the global goat milk powder market.
The pharmacy and specialty stores are leading in the sales of infant formula in the global market. The internet helps consumer gather important information related to milk products, pros, and cons of each type, and the nutritional benefits to each type of products in the market. The online channels are the fastest growing segment in the global goat milk powder market.
Goat Milk Powder Market – By Geography
Infant formula and social media promotions are attracting consumers across the APAC region in the global goat milk powder market
The geographical segment in the global goat milk powder market is categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the worldwide market, at a CAGR of around 11% during the forecast period. The growing disposable income, westernization, rising demand for infant formula from Chinese mothers, and the increasing impact of the social media are some of the major factors attributing to the growth of the APAC region in the global market. The APAC hosts a massive food and beverages industry that constitutes about 55% of the global industry in terms of market size. The evolution in agricultural practices, cheap production factors, investments and development in supply chains, and progressive government policies are enabling APAC to emerge as the major production and export hub in the global market. APAC is the largest export of agriculture commodities including dairy, cotton, sugarcane, coconut, paddy, and maize in the market. Southeast Asia has the largest number of goat farmers and is contributing to the growing revenues in the global goat milk powder market.
The increasing demand for organic and natural food across Europe will fuel the growth of this region in the global market. The rising demand for goat cheese and number of lactose-intolerant people are driving the demand across the North American market. The increasing income, growing urbanization, and the burgeoning health-conscious population across MEA will positively impact the global goat milk powder market.
Key countries profiled in the report are:
- South Korea
- Australia & New Zealand
- Saudi Arabia
Key Vendor Analysis
The global goat milk powder market is fragmented due to the presence of several vendors. The top players are competing on the basis of product quality, new products, and competitive pricing in the market. The key companies are introducing new or improved products to match the growing requirements of the dynamic consumer preferences in the market. The vendors are investing in technological advancements, packaging designs, and production innovations to sustain the competition in the global goat milk powder market.
The major vendors in the global goat milk powder market are:
- Dairy Goat Co-operation (DGC)
- FIT Company
- Goat Partners International
- Meyenberg Goat Milk Products
- Bai Yue Group
Other prominent vendors in the goat milk powder market include AVH Dairy Trade B.V., Ausnutria Dairy Corporation Ltd., Holle, The Good Goat Milk Company, CapriLac, Shaanxi Redstar Meiling Dairy Co., Ltd., Shaanxi Guanshan DairyCo., Ltd., Mt. Capra, Keytone Dairy Corporation Limited, Bubs Organic, Billy Goat Stuff, Zotter Chocolates, Mast Brothers, Bend Soap Company, Goat Milk Stuff, Blue Ridge Soap Shed, Laloo's Ice Cream, and Seed + Mill.
Key market insights include
- The analysis of global goat milk powder market provides market size and growth rate for the forecast period 2019-2024.
- It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global goat milk powder market.
- The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
- It offers a complete overview of market segments and the regional outlook of global goat milk powder market.
- The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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