Increasing demand for goat milk infant formula Will boost the growth of global goat milk market
Arizton’s recent market research report on the global goat milk market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (goat cheese, milk powder, packaged milk, UHT milk, and others), distribution channel (hypermarkets & supermarket, convenience store, specialty stores, medical & pharmacy store, online, and others), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global goat milk market is anticipated to reach values of around $15 billion by 2024, growing at a CAGR of over 7% during 2018-2024.
The increase in urbanization and rise of modern trade benefit dairy due to reliance on chillers and cold chain logistics is propelling the growth of the global market. The growing awareness and increasing number of campaigns, advertisements, and digital marketing will provide help boost sales in the global goat milk market.
The top 3 drivers and trends propelling the growth of the global goat milk market are discussed below:
Higher Nutritional Benefits Compared to Other Milk
The personalized nutritional benefits and easy digestibility as compared to cow milk or other dairy milk are contributing to the growth of the global goat milk market. Goat dairy is rich in calcium, fatty acids, and contains a lower level of cholesterol. This product is consumed by people who are lactose intolerant. The fatty acids and triglycerides found in goat dairy can prove beneficial for skin health, and it contains a high level of vitamin A which can improve complexion, reduce acne. These benefits are propelling the demand in the global goat milk market. The vendors are manufacturing soap and moisturizer with goat dairy which are popular skincare products that are available in the market. This dairy product has used treatment against iron and magnesium deficiency. The nutrition found in the milk such as iron, calcium, magnesium, and phosphorus is easily absorbed by the body as compared to cow’s milk. This product is beneficial for individuals with issues such as anemia, osteoporosis, as it enhances the absorption capacity of iron in the body and regenerates hemoglobin. Consumers are moving to goat milk products as it is a healthier option, thereby creating lucrative opportunities for vendors in the global goat milk market.
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Increasing Demand for Goat Milk Infant Formula
The growing demand for milk infant formula is contributing to the revenues in the global goat milk market. The increasing popularity of breast milk substitutes and declining breastfeeding rates across most of the developed countries is driving the growth of the global market. According to UNICEF, the world’s richest countries have the lowest breastfeeding rates. Lower breastfeeding rates have led to an increased demand for infant milk solutions, especially in countries with higher income, in turn, boosting revenues in the global goat milk market. The protein present in goat milk is considered the closest alternative for human breast milk. Cow milk contains A1 casein which usually causes inflammatory or allergic reactions among infants resulting in diarrhea and abdominal cramping. Goat dairy contains A2 casein which is easily digested by infants, and the fat globules are relatively smaller in diameter which allows easier absorption up to 94% among infants. Such properties will drive the demand for these products in the global market. The majority of the infant milk formula producers use goat milk powder for infant formula in the market. High-income countries such as the United States, France, Germany,and the UK have a higher demand for infant formulas and boosting sales in the global goat milk market.
Growing Demand from the Emerging Economies
With the increase in economic development and increasing, consumer spending across emerging nations will propel the growth of the global goat milk market. APAC, MEA, and Latin America are among the fastest-growing regions and major revenue contributors in the global market. China is among the major contributors in the APAC region with a surge in demand for milk powders that are used in the production of infant formulas and goat cheese. China is adopting these products due to their high nutritional content and contributing to the rising revenues in the global goat milk market. The rising disposable income and growing demand for imported food products are contributing to the growth of the market across emerging nations. Advances in lifestyle coupled with rising consumer expenditure are likely to increase the penetration of these milk products across APAC countries in the global goat milk market during the forecast period.
The leading vendors in the global goat milk market are Dairy Goat Co-operation (DGC), Ausnutria Dairy Corporation Ltd, AVH Dairy Trade B.V., Delamere Dairy, Stickney Hill Dairy, Goat Partners International, Meyenberg Goat Milk Products, Granarolo Group, FIT Company, Baiyue Group, and Groupe Lactalis.
The complete overview of the latest market research report on the global goat milk market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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