This market research report on global goat milk market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation distribution channel (hypermarkets & supermarket, convenience store, specialty stores, medical & pharmacy store, online, and others), and by geography (APAC, Europe, North America, Latin America, and MEA).
The exceptional nutritional and health benefits of goat’s milk are propelling the demand in the global goat milk market. The availability of goat cheese and yogurt are wide across the world is boosting the revenues in the global market. This dairy product contains a high amount of minerals such as protein, calcium, magnesium, phosphorus, and vitamins. The growing demand for lactose-free and lower lactose content products is fueling the growth of the global market. Approximately 65% of the world population has a lower ability of lactose digestion after the infant age. The higher content of calcium and protein in this product which is essential for growth and maintaining strong health will encourage the vendors to launch new products. The rising preference for fresh and natural products, that promotes good health benefits will help players gain a larger market share over the next few years. This dairy protein is also used in the manufacturing of infant milk solutions. These products form smaller curd, which is more easily digestible by babies which are attributing to the popularity of this diary among consumers in the global market. Goat cheese contains lower fat and cholesterol, higher vitamin, and potassium which makes it a viable dietary alternative. France and Germany have one of the highest consumptions of goat cheese products. The vendors are launching goat cheese with different flavors such as cranberry, cinnamon, honey, and huckleberry to attract new consumers in the global market. Goat dairy contains oligo saccharides that have anti-inflammatory properties which can improve the immunity system of the individual and presence of magnesium helps in reducing the cholesterol level and maintain a regular heartbeat. Such benefits will result in higher revenues in the goat milk market.
The rise of modern trade benefit dairy due to reliance on chillers and cold chain logistics for categories like yogurt and fresh milk will attribute to the development of the global market. The growing awareness and increasing number of campaigns, advertisements, and digital marketing will boost the sales of these products in the market. The global goat milk market is estimated to reach revenues of around $15 billion by 2024, growing at a CAGR of more than 7% during 2018-2024.
The growing number of health consciousness population is contributing to the exponential growth of the global goat milk market. The world is witnessing a gradual shift among consumers towards healthier eating habits. The modern, younger generation are now more aware of the importance of taking care of one’s health. Health properties such as highly nutritious and easily digestible is driving the popularity of these products amongst the health-conscious population. The leading manufacturers are leveraging in-store promotions and communication through digital media to connect with consumers on a more personal level to gain a larger market share. The growing preference of natural, organic, and GM-free ingredients is encouraging the vendors to adopt sustainable practices in the global market. These factors will contribute to the growing sales in the global goat milk market.
This market research report includes a detailed segmentation of the market by product and by geography.
Goat Milk Market – By Product
Changing food habits and health issues are driving the sales of goat cheese in the global goat milk market during the forecast period
The global goat milk market by product is segmented into goat cheese, goat milk powder, packaged milk, UHT milk, and others. Goat cheese dominated approximately half of the total market share in 2017, growing at a CAGR of more than 5% during the forecast period. The rapidly changing food habits and increasing health issues such as obesity and high level of cholesterol are driving the growth of this segment in the global market. The growing demand for natural dairy products with higher nutritional benefits and lower fat content is contributing to the rising popularity of goat cheese in the global market. The unique taste and flavor of this product help vendors promote these products in the global market. The lower saturated fats and cholesterol of goat cheese helps in lowering the chances of cardiovascular diseases and liver damages among consumers. Germany, Spain, and the UK are the largest consumer of this dairy product and is contributing to the revenues in the global goat milk market. The introduction with innovative flavors and taste will help vendors gain larger global market share.
The high usage of goat milk powder in the infant nutritional formula will propel the growth of this segment in the global market. FIT, CBM, AVH Dairy, and Red Star are the most popular milk powder manufacturing companies in the market. The longer shelf life and pasteurized nature of UHT milk are contributing to the sales of these products in the global goat milk market. The others segment comprises of butter, yogurt, ice-cream and other by-products.
Goat Milk Market – By Distribution Channel
Top retailers such as Walmart, Whole Foods Market, Costco, and Kroger is boosting revenues in the global goat milk market
The global goat milk market by distribution channel is categorized into hypermarkets & supermarket, convenience store, specialty stores, medical & pharmacy store, online, and others. Hypermarkets & supermarkets dominated around half of the total market share in 2018. The presence of all grocery products under one roof is one of the major factors attributing to the growth of this segment in the global market. These stores are designed to serve as a one-stop destination for many other related food and dairy goods in the market. The availability of extra discounts and products bundling offers is helping hypermarkets and supermarkets to attract a large number of consumers in the global goat milk market. Walmart, Whole Foods Market, Costco, and Kroger are the largest retailers offering these products in the North American market, and similarly, Auchan, Tesco, Carrefour, and Argos are major retails in the European market.
Infant formula is majorly sold at medical and pharmacy stores across the global market and is boosting the sales of these products worldwide. The growing penetration of broadband and network connectivity is augmenting the demand for these goat dairy products and contributing to the revenues in the global goat milk market.
Goat Milk Market – By Geography
Demand for infant formula across the APAC region will boost sales in the global goat milk market during the forecast period
The geographical segment in the global goat milk market is classified into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the global market, at a CAGR of over 10% during the forecast period. The robust growth manufacturing and retail industries across the APAC region will create lucrative opportunities for vendors operating in the market. Some of the major milk producing countries such as India, Pakistan, and Bangladesh in the world are contributing to the revenues in the APAC market. The progressive government policies, favorable taxation, and rise in disposable incomes are factors driving the growth of the global goat milk market. The rising demand for lifestyle goods and services and dairy foods of diverse variety and volume will encourage vendors to launch innovative products in the global goat milk market. The rising demand for infant formula across the APAC region and especially China will drive the growth of the market.
The growing demand for organic and natural food products is contributing to the growth in the European goat milk market. The increasing number of lactose intolerant population are fueling the demand for goat milk in the North American region.
Key Countries Profiled are:
Key Vendor Analysis
The global goat milk market is highly fragmented. The leading vendors are competing by product quality, new products, and competitive pricing. The dynamic consumer choices and preferences differentiating across different regions will encourage the players to invest in the marketing and advertising of their products in the global market. The introduction of innovative and proprietary products will help manufacturers gain a larger global goat milk market share. The vendors are focusing on new product categories and new products with distinctive features, size, function, or manufacturing technology to attract maximum consumers in the global market.
The major vendors in the global goat milk market are:
Other prominent vendors include Hay Dairies, Kavli, Summerhill Goat Dairy, VitaGermine, Holle, Fineboon, Woolwich Dairy, Redwood Hill Farm and Creamery, The Good Goat Milk Company, and Cherry Glen Goat Cheese Co.
Key market insights include
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