Advancements in lifestyle, coupled with growing consumer expenditure are likely to boost the global goat milk powder market.
Arizton’s recent market research report on the global goat milk powder market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product type (skimmed and full cream milk powder), end-products (infant & follow-on formula, cheese, dietary supplements, yogurt, chocolate, and others), distribution channels (hypermarkets & supermarkets, convivence stores, specialty stores, medical & pharmacy stores, and others), and geography (APAC, Europe, North America, Latin America, and MEA).
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 2019−2024.
The demand for goat milk powder can be primarily attributed to the rising health awareness among consumers and the increasing demand for low lactose content products. Asia is the highest producer of goat milk, followed by Africa, Europe, and the Americas.
The leading three drivers and trends propelling the growth of the global goat milk powder market are discussed below:
Growing popularity of nutritional benefits of goat milk powder across the world
The popularity of goat milk consumption among the population is growing. Approximately 65% of people prefer to consume goat milk over cow milk. The nutritional benefits are less likely the cause for lactose intolerance, high mineral content (rich in calcium, fatty acids, and less in cholesterol) and easier to digest than cow milk or other dairy products.
The people that have high lactose intolerance or have lactose malabsorption in the regions of East Asia, Asia, Eastern Europe, Russia, and Latin America have shown more inclination for goat milk or goat milk powder than cow milk. Although goat milk does contain lactose similar to cow milk, it is easily digestible due to the presence of low lactose. Goat milk also contains a similar pH level as lactate. Further, cow milk contains a high level of casein that can cause type 1 diabetes and insulin resistance. Goat milk, on the other hand, contains a different variety of casein that protects individuals from diabetes and increases insulin sensitivity.
Increasing demand for goat milk infant formulas
A low breastfeeding rate has led to high demand for infant milk solutions, especially in developed countries. Goat Milk mostly contains A2 casein, which makes it the closest alternative to lactate and it can be easily digested by infants. On the other hand, cow milk contains A1 casein, which can cause inflammation or allergic reactions among infants, resulting in diarrhea and abdominal cramps. Goat Milk is also richer in mineral content than cow milk. Thus, goat milk powder is widely used in infant formulas across the world. This milk proves to be less allergic among infants than cow milk. The share of the global goat milk powder market is steadily increasing as a high number of consumers is becoming aware of the benefits of goat milk. High-income countries such the US, France, the UK, and Germany are witnessing high demand for goat milk for infants.
Growing number of health-conscious people
The trend of health consciousness is expected to increase significantly in the population during the forecast period. Consumers increasingly realize the health benefits of milk proteins- from muscle building and exercise recovery to weight loss, satiety, and healthy aging. There is a gradual shift among consumers toward healthier eating habits; therefore, there is a growing demand for goat milk and products, which are highly nutritious and easily digestible. The consumption will likely continue to increase due to the rising per capita income in developed and developing countries. The aging population in many countries and the rising obesity and diabetes level in Western countries are also influencing consumers to switch to healthy alternatives such as goat milk powder. Advancements in lifestyle, coupled with growing consumer expenditure are likely to increase the penetration of goat milk products in the APAC region.
The Dairy Goat Co-operation (DGC), FIT Company, Goat Partners International, Meyenberg Goat Milk Products, and Baiyue Group are the leading vendors in the global goat milk powder market.
The complete overview of the latest market research report on the global goat milk powder market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions.
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