Goat Milk Powder Market to Reach Over $5 Billion by 2027.
Chicago, Aug. 04, 2022 (GLOBE NEWSWIRE) — According to the latest research report from Arizton, the goat milk powder market is expected to grow at a CAGR of over 8% during the period 2022-2027. The most common application of powdered goat’s milk is in infant formula. One of the major growth factors in the global goat milk powder market is the rising demand for goat milk powder in infant formula due to its similarity to breast milk.
Infant formula made from goat’s milk is in high demand in China. Most infant formulas are sold through medical and pharmaceutical establishments. Although government restrictions aim to increase the market share of Chinese companies to 80%, foreign companies continue to dominate the infant formula (IMF) industry. Dairy companies are looking to e-commerce, as well as the growth of supermarket, convenience and maternity chains, as well as third- and fourth-tier cities, to grow their revenues.
Scope of Goat Milk Powder Market Report
|MARKET SIZE (2021)||$3.5 BILLION|
|MARKET SIZE (2027)||$5.7 BILLION|
|YEAR OF REFERENCE||2021|
|COUNTRIES COVERED||United States, Canada, Germany, United Kingdom, France, Spain, Netherlands, China, South Korea, Australia and New Zealand, India, Brazil, Mexico, Saudi Arabia and United Arab Emirates|
|GEOGRAPHICAL ANALYSIS||North America, Europe, APAC, Latin America, Middle East and Africa|
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Goat Milk Cheese Positively Impacting Market Growth
American goat cheese producers have been able to successfully compete in the gourmet cheese market, winning several gold medals on the world stage. In the United States, there are more than 100 goat cheese producers, including artisanal and commercial goat cheese producers. Consumers prefer handmade goat cheese, as artisanal producers tend to raise their own goats and use the milk to make cheese, yogurt, and other products.
Impact of the Internet shaping end-user buying behavior
In industrialized countries, the distribution of food and beverages is dominated by a few distribution chains or DIY stores. In the United States and several European countries, for example, Whole Foods, ASDA, Sainsbury’s, Carrefour, Metro, Tesco, Groupe Auchan and Walmart account for most food sales. The influence of digital consumerism on the sale of food products is also growing in the market. Sellers who use e-commerce as their business platform have many opportunities to increase their profits. Some of the most well-known online retailers of goat milk products include Amazon, ASDA, and Walmart. With the growth of the Internet, several websites have sprung up to serve end users looking for convenient and easy access to these products.
- Goat’s milk accounts for 23% of global milk production, but only 1% of the milk produced is processed into powdered milk, making powdered goat’s milk a niche product.
- Lifestyle advancements, combined with increasing consumer spending, are expected to drive the adoption of goat milk products in APAC.
- Consumers have become increasingly sensitive to their food choices due to aging populations in many countries, rising rates of obesity and diabetes in Western countries, and increased studies linking the food to health. As a result, the demand for healthier choices and “clean label” products has driven up the market demand for goat dairy products.
- Goat’s milk is becoming more and more popular around the world; approximately 65% of the world’s population prefer powdered goat’s milk to cow’s milk.
- Market Size and Forecast by Revenue | 2022−2027
- Market Dynamics – Key Trends, Growth Drivers, Restraints and Investment Opportunities
- Segmentation – A detailed analysis by end user of the product and by geography
- Competitive landscape – 5 key company profiles and 30 other important suppliers
With a surge in product developments, technical improvements in dairy production, and mergers and acquisitions, the market rivalry is expected to intensify during the period 2022-2027. Arizton believes that the industry is approaching saturation and that foreign companies would attempt to grow inorganically by acquiring top players to expand their product offerings and geographic reach. Vendors have been increasing their marketing spend over the past few years by investing in various innovative ideas such as social media marketing, offers, etc. due to improving economic conditions, especially in the business category . As a result, as the market stabilizes, demand can be predicted accurately and with as little error as possible. Also, most vendors in the market are large companies with strong financial standing. All of these elements together will allow sellers to spend more money with confidence to market their products. This will increase awareness of the latest goat milk powders which include new flavors and tastes.
- Dairy goat cooperation (DGC)
- FIT Company
- Goat Partners International
- Meyenberg goat milk products
- Bai Yue Group
OTHER MAJOR SUPPLIERS
- AVH dairy trade BV
- Ausnutria Dairy Corporation Ltd
- Good goat milk company
- Shaanxi Redstar Meiling Dairy Co.Ltd
- Shaanxi Guanshan Dairy Co.Ltd
- Mount Capra
- Keytone Dairy Corporation Limited
- Organic broths
- goat stuff
- Zotter Company
- Mast brothers
- Bend Soap Company
- Goat Milk Stuff
- Blue Ridge Soap Shed
- Laloo’s ice cream
- Seed + Mill
type of product
- Skimmed goat milk powder
- Whole goat milk powder
- Infant formula and follow-on formula
- Cheese, Food Supplements
- Hypermarkets & Supermarkets
- convenience stores
- Specialty stores
- Medical stores and pharmacies
- On line
- North America
- South Korea
- Australia and New Zealand
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
Explore the Consumer Goods Retail Technology Profile to learn more about the industry.
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