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The goat milk market size is forecast to increase by USD 3.14 billion at a CAGR of 6.05% between 2023 and 2028.
The growth rate in the APAC markets is driven by the increasing consumption of goat milk, with players focusing on perfecting their supply chains. Bubs Australia Limited offers goat milk with Omega-3 (DHA) and Omega-6 (ARA) plus prebiotics (GOS), providing premium benefits to consumers seeking convenience and global nutrition. This aligns with current trends and forecasts in the global market, highlighting a significant analysis of the goat milk industry's potential.
The market shows an accelerated CAGR during the forecast period.
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Packaging innovations in goat milk products are notably driving the market. Innovative packaging technologies can help increase the shelf life of buck dairy products, increasing freshness and lowering food waste. In addition, vacuum-sealed packaging, modified atmosphere packaging (MAP), and aseptic packaging are some of the technologies that can extend the shelf life of dairy products, including buck milk. Furthermore, packaging innovations with convenience features such as resealable closures, single-serve portions, or easy-pour designs can improve the consumer experience and attract more customers to buck dairy products.
Moreover, consumers are often drawn to products that are convenient and easy to use. In addition, unique and appealing packaging designs can help buck diary products stand out on store shelves and set them apart from competitors. Furthermore, creative packaging can also convey key messages about the product's quality, health benefits, or sustainability practices, thereby attracting consumers' attention and increasing sales. In addition, packaging innovations that provide portion control options, such as individual servings or customizable packaging sizes, can meet a wide range of consumer needs and preferences. Hence, such factors are driving the market during the forecast period.
Increasing demand for flavored goat milk is an emerging trend in the market. Flavored goat milk provides consumers with more options than traditional unflavored milk. In addition, producers can appeal to consumers who prefer flavored dairy products by offering flavors such as chocolate, vanilla, strawberry, or coffee. Furthermore, flavored buck milk may appeal to children and families seeking healthier alternatives to sugary beverages.
Moreover, goat milk producers can encourage younger consumers to consume more by offering flavors that appeal to them, such as chocolate or strawberry. In addition, some consumers may find the taste of unflavored buck milk unfamiliar or acquired. Furthermore, flavored varieties can help mask any perceived goaty flavor while also improving the overall palatability of buck milk, making it more accessible to a wider audience. Hence, such factors are driving the market during the forecast period.
The increasing vegan population and availability of plant-based milk alternatives is a major challenge hindering the market. A vegan diet is a major part of a larger vegan lifestyle. In addition, it strongly favors animal rights and a concern for the environment. Furthermore, currently, many consumers have started following a vegan lifestyle and stay away from animal-origin products and opt for healthy substitutes for meat, dairy, and other traditional sources of protein.
Moreover, they perceive vegan diets to be healthier than meat-based diets. In addition, people are adopting vegan diets for health benefits. Furthermore, the number of people opting for vegan diets has increased by about 30% over the last decade. In addition, food service outlets are also including vegan dishes in their menus to attract vegan consumers. Hence, such factors are hindering the market during the forecast period.
The availability of cost-affordable goat milk-based products will fuel the offline segment, which in turn drives the market. The offline segment comprises supermarkets, hypermarkets, convenience stores, and other local businesses. In addition, supermarkets and hypermarkets possessed the greatest portion of the offline distribution channel share because they offered a wide range of goods at enticing discounts. Moreover, customers are encouraged to purchase goods through offline distribution channels through discounts and convenience. Furthermore, hypermarkets and brands work together to present products in ways that draw in customers. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
The market is segmented based on several factors, such as Lactose intolerance, Digestion problems, and Allergies, which drive demand among Health-conscious consumers and the Lactose intolerant population. Key nutrients like Potassium, Vitamin A, Calcium, Proteins, and Iron contribute to Bone health, Infant nutrition, and overall health benefits. Leading players like Delamere Dairy operate through various Production sites and facilities, ensuring ample Production capacities to meet the growing demand for Goat dairy products in the market.
The fresh goat milk segment is estimated to witness significant growth during the forecast period. Fresh goat milk (FGM) segment is unpasteurized, raw, unadulterated, unprocessed buck milk. In addition, FGM is easy to digest due to the presence of small lactose. Furthermore, it helps reduce bad cholesterol and increases good cholesterol. FGM has a pH level similar to humans, so it is easily absorbed by the skin with less irritation.
The fresh goat milk segment was the largest segment and was valued at USD 5.34 billion in 2018.
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Moreover, it is also lower in lactose or milk sugar which is easy to digest by humans. In addition, Consumers who are intolerant to lactose lack the ability to digest protein A1 casein found in other milk. FGM contains protein A2 casein, which can be easily digested. Furthermore, cow milk allergy symptoms affect approximately 7% of children in the United States and are most commonly caused by reactions to alpha S1 casein or whey proteins in milk. Furthermore, depending on the breed, buck milk contains very low levels of alpha S1 casein. Hence, such factors are fuelling the growth of this segment which in turn drives the market during the forecast period.
APAC is estimated to contribute 46% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The production of goat milk is higher in Asian countries, including India, Pakistan, and Bangladesh. In addition, many companies have also started selling goat milk-related products. Moreover, in comparison, Meredith Dairy (Meredith Dairy Pty Ltd.) (headquartered in Australia) sells goat-based products such as marinated cheese, fresh cheese, fresh curd, natural pot set milk yogurt made with beneficial probiotic cultures, cultured goat milk, and others. Furthermore, during the forecast period, the popularity of goat milk and goat dairy products is likely to increase, which will have a positive impact on the market. In addition, the consumption of goat milk is not very high in China, although the market has room for growth. Hence, such factors are driving the market growth in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Emmi Group, Gujarat Cooperative Milk Marketing Federation Ltd., Hay Dairies Pte Ltd, Ice House Farm, Karnataka Milk Federation, Meredith Dairy Pty Ltd., Meyenberg Goat Milk Products, Mother Dairy Fruit and Vegetable Pvt. Ltd., Oak Knoll Dairy, Redwood Hill Farm and Creamery Inc., Saputo Inc., St. Helens Farm Ltd., St. John Creamery, Summerhill Goat Dairy, Unica Global BV, and Xian Baiyue Goat Milk Group Co. Ltd
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is thriving due to various factors such as Lactose intolerance, Digestion problems, and Allergies prevalent among consumers. With concerns over Conventional dairy products and Unhealthy lifestyles, the demand for Goat dairy products has surged. Goat milk is rich in raw materials such as Potassium, Vitamin A, and Calcium, supporting Bone Health and Immunity. It's gaining traction in Grocery stores, Foodstuffs production, and the Dairy industry, catering to health-conscious consumers and the Lactose intolerant population. Companies like Hochdorf and Bimbosan are key players in this segment.
Moreover, gluten-free options supply critical nutrients like Copper. The market spans various products like Liquid goat milk, Cheese, Powdered milk, and Infant formula, targeting the Infant population, Beauty and personal care product manufacturing companies, and B2C segment through Hypermarkets/supermarkets, Specialty stores, and Online retail platforms like Whole Foods Market and Nutragoat. Regional variations include breeds like Oberhaslis, Saanens, and Nubians, each contributing to the diverse offerings in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.05% |
Market Growth 2024-2028 |
USD 3.14 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.02 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key countries |
US, China, India, France, and Spain |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bubs Australia Limited, Dairy Goat Co-operative N.Z. Limited, Delamere Dairy Ltd., Emmi Group, Gujarat Cooperative Milk Marketing Federation Ltd., Hay Dairies Pte Ltd, Ice House Farm, Karnataka Milk Federation, Meredith Dairy Pty Ltd., Meyenberg Goat Milk Products, Mother Dairy Fruit and Vegetable Pvt. Ltd., Oak Knoll Dairy, Redwood Hill Farm and Creamery Inc., Saputo Inc., St. Helens Farm Ltd., St. John Creamery, Summerhill Goat Dairy, Unica Global BV, and Xian Baiyue Goat Milk Group Co. Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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