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GOAT MILK MARKET SIZE TO REACH REVENUES OF OVER $17 BILLION BY 2025, GROWING AT CAGR OF 7% DURING THE FORECAST PERIOD
Goat Milk Market Size, Share, Trends, Forecast by Product (Cheese (Chevre, Mozzarella, Cheddar, Feta and Others), Milk Powder (whole and skimmed), Packaged (skimmed and whole), UHT Milk, and others), Distribution (supermarkets & hypermarkets, convenience stores, specialty stores, medical & pharmacy stores, online stores, and others), and Geography (APAC, Europe, North America, Latin America, and the Middle East & Africa) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020-2025
The global goat milk market is expected to witness significant growth and demand during the forecast period. The growing awareness via increased campaigns, advertisements, and digital marketing is expected to boost the sale. The increased usage of nutrient-rich goat milk in infant formulas and the growing number of the lactose-intolerant population are likely to contribute to the market growth further. The market is witnessing a surge from emerging economies. The shifting preference for packaged branded dairy products is another factor propelling the growth in emerging regions. Rapid urbanization and the improvement in chillers and cold chain logistics for categories such as yogurt and fresh milk have increased the availability of dairy products, thereby boosting the demand. Product freshness plays an essential part in the growth of goat milk as more nutritious and shelf-stable variants are being made available, especially in the APAC region, where the health consciousness is gaining traction. Yogurt, and drinking dairy products are expected to emerge as important revenue contributors to the global goat milk market over the next few years. However, the market faces certain challenges in terms of food safety, government regulations, and logistics. Growing incidences of food safety scandals in the food industry in the past few years are expected to hinder the growth of the global market during the forecast period.
- Goatcheese is expected to witness the high demand from the US, Canada, China, Germany, and France during the forecast period.
- The UHT milk segment is likely to grow at a CAGR of over 8% during the forecast period on account of long shelf life and pasteurized nature.
- Germany is expected to observe an incremental growth of over $280 million by 2025 due to the increasing awareness of the nutritional benefits of goat milk.
- The APAC region is likely to achieve an incremental growth of approximately $2.5 billion by 2025, with China contributing almost 15% to the global production revenue in 2019.
- Brazil is projected to emerge as the largest goat milk market on account of easy digestibility, nutritional values, and hypoallergenic properties
GOAT MILK MARKET SEGMENTATION
This research report includes a detailed segmentation by product, distribution, and geography.
INSIGHTS BY PRODUCT
The goat cheese segment dominates the global goat milk market share in 2019 and is expected to sustain its position during the forecast period across geographies. The growing preference among consumers for healthier alternatives is primarily driving the growth. About 59% of manufacturers are offering several types of goat cheese. Chevre or fresh goat cheese is particularly preferred by consumers globally, and it contributed approximately 38% to the global revenue in 2019. The presence of several health benefits, including high protein, low fat, and cholesterol content, easy digestibility, and increased availability is primarily driving the goat cheese segment. The APAC region is projected to grow at the fastest CAGR during the forecast period; however, North America is expected to pose the highest incremental growth. The rapid growth demand in secondary markets such as Brazil, Argentina, Peru, India, and Turkey is expected to boost growth. The rising awareness among consumers is expected to support the growth further. The goat milk powder market is likely to increase due to its high usage in infant nutritional formulas. Goat milk has high protein content and is easily digestible compared to cow milk and breast milk. More than 51% of the revenue is contributed by the APAC region, with the majority of the consumption being concentrated in China. The rising product availability, packaging, and promotion are further driving the growth. The high prevalence of lactose intolerance, especially among Asian consumers, is also driving the demand in the region.
Several brands are offering UHT or skimmed and semi-skimmed milk, which is also attracting a large section of the health-conscious population in developed and developing countries, including France, Germany, the UK, and Spain. The demand of goat milk is growing owing to its nutritional benefits and organic nature. Geographically, Europe remains the largest market for whole milk globally. However, the demand for goat whole milk is expected to grow rapidly in Asian countries such as Japan, India, Taiwan, Australia, and South Africa.
INSIGHTS BY DISTRIBUTION
Marketing and distribution strategies are immensely influencing global consumption patterns. Goat milk products by distribution channels is classified into online and offline channels. While offline channels account for the majority revenue shares, specialty stores and online channels are expected to witness the fastest growth during the forecast period. Supermarkets and hypermarkets, convenience stores, specialty stores, and medical and pharmaceutical stores are the major offline distribution channels. In North America, Walmart, Whole Foods Market, Costco, and Kroger are the major retailers. In Europe, Auchan, Tesco, Carrefour, and Argos are the major retail providers.
Online channels mainly include company websites and third-party e-vendors. The development of digital marketing, e-commerce platforms, internet penetration, and mass data management has paved the way for the growth of the online segment. In emerging economies, the e-commerce sector is playing a significant role in product penetration.
INSIGHTS BY GEOGRAPHY
The growth of the health-conscious population is primarily driving the market in Europe. Consumers are increasingly seeking products, which are non-GMO, organic, cruelty-free, and environmentally sustainable. Although goat milk products are becoming widely available across retails stores, they still constitute a niche segment in the overall dairy market. The growing vegan population in the region is expected to support the demand and consumption of non-dairy milk.
North America is the second-largest goat milk market with the US dominating the region. The increasing number of lactose-intolerant people is fueling the demand in this region. The rapidly shifting consumer preferences for healthier alternatives, federal education programs, a growing number of lactose-intolerant people, and the well-developed retail landscape that facilitates innovation in terms of new product launches are the major drivers for the increased consumption of goat milk.
The APAC region is the fastest-growing market, and this trend is expected to continue during the forecast period. The growing disposable income, westernization, rising demand for infant formula from Chinese mothers, and the increasing impact of social media are driving the market in the APAC region. The APAC market is mainly driven by the high demand for infant formulas, which account for approximately half of the total market demand.
INSIGHTS BY VENDORS
The global goat milk products market is fragmented in nature as the vendors are competing based on product quality, new products, and competitive pricing. Thus, consumer choices and preferences differ across regions and keep changing over time in response to geographical, demographic, and social trends, economic circumstances, and marketing efforts of competitors. Due to the highly competitive and volatile environment, the future growth mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing trends and successfully introduce new or improved products in a timely manner. The introduction of innovative goods that cater to customer demands requires companies to devote significant efforts and resources. Research and development teams need to continuously analyze the trends and designs and develop and manufacture new product categories with distinctive features, size, taste, and shelf life.
- Dairy Goat Co-operation
- Stickney Hill
- Meyenberg Goat Milk Products
- FIT Company
- Bai Yue Group
- Goat Partners International
- Groupe Lactalis
Other Prominent Vendors – Ausnutria Dairy Corporation Ltd, AVH Dairy Trade B.V., Delamere Dairy, Granarolo Group, Hay Dairies, Kavli, Summerhill, Vitagermine, Holle, Fineboon, Woolwich Dairy, Redwood Hill Farm and Creamery, The Good Goat Milk Company, and Cherry Glen Goat Cheese Co.
The global goat milk market research report includes industry analysis with revenue and forecast insights for the following segments:
Market Segmentation by Product
- Milk Powder
- UHT Milk
- Supermarkets & Hypermarkets
- Convenience Stores
- Specialty Stores
- Medical & Pharmacy Outlets
- Online Stores
- North America
- South Korea
- Australia & New Zealand
- South Africa
- Latin America
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KEY QQUESTIONS ANSWERED :
- What is the goat milk market size and its growth forecast during 2019-2025?
- What are the top industry trends, drivers, challenges and investment opportunities in the global goat milk industry?
- Which segment is going to have the largest market share?
- Which regions will dominate the global industry?
- Who are the key players and what are their key strategies?
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