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Goat Milk Market
Goat milk is the type of milk which is white, opaque liquid with a slightly sweet taste and no odor and has various health benefits. Surge in health awareness of goat milk, rise in demand of goat milk products, government subsidies for goat farming are the major driving factors responsible for the growth of the goat milk market
” - Allied Market Research
PORTLAND, OR, US, July 11, 2023/einpresswire.com / -- Rise in health awareness of goat milk , increase in demand of goat milk products, and government subsidies for goat farming have boosted the growth of the global goat milk market. However, high cost of the goat milk, and increase in awareness for vegan products impede the growth to certain extent. On the contrary, technological advancement and aggressive marketing strategies for goat milk, and surge in online sales of F&B products are expected to create lucrative opportunities in the near future.
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The global goat milk market size was valued at $8.5 billion in 2018 and is projected to reach $11.4 billion by 2026, registering a CAGR of 3.8% from 2019 to 2026. Goat milk is the type of milk which is white, opaque liquid with a slightly sweet taste and no odor and has various health benefits. The report includes different product categories of goat milk such as milk, cheese, milk powder, and others. The milk by product type is anticipated to witness substantial growth owing to its health benefits, which increases its popularity among the health-conscious population.
The goat milk market is segmented on the basis of product, distribution channel, and region. Depending on product, the market is segmented into milk, cheese, milk powder, and others.
Based on the goat milk market analysis by product, the cheese segment is expected to grow comparatively faster than other goat milk products, witnessing a CAGR of 5.3%.
Prominent Market Players
Hay Dairies Pte Ltd
The Good Goat Milk Co
Holle baby food AG
Cherry Glen Goat Cheese Co
Dairy Goat Co-operation (DGC)
Summerhill Goat Dairy
The milk powder segment to manifest the fastest growth through 2026
Based on products, the milk powder segment is expected to portray the fastest CAGR of 7.40% during the forecast period. This is due to increasing demand of milk powder to produce infant formula. However, the milk segment held the largest share in 2019, accounting for more than three-fourths of the global goat milk market. This is due to increase in health awareness, and rise in demand of goat milk products
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In a past decade, people are much aware about their health and fitness. Goat milk provides 9 grams of protein, 10 grams of fat, and 330 milligrams of calcium per cup than any cattle milk or plant-based milk. It is rich source of fatty acids, calcium, and contains low level of cholesterol. Goat milk is considered as a great alternative to cow's milk as it is easier to digest, less inflammatory, and has lesser number of allergens. It also enhances ability of human body systems to absorb important nutrients from other foods. It contains A2 casein, which does not cause inflammation hence, majority of market players prefer goat milk powder to produce infant formula. These health benefits responsible to increase goat milk market share. However, high cost of the goat milk and its products and increase in number of vegan people are expected to hamper the growth of the market. On the contrary, technological innovation in the dairy processing equipment and aggressive marketing strategies are expected to supplement the goat milk market growth in future.
North America held the largest share
The global Goat milk market across North America dominated in 2019, contributing to nearly two-fifths of the market. This is owing to rise in working population and increase in growth of the fast food industry. However, the market across Asia-Pacific region is expected to register the fastest CAGR of 5.80% during the study period. This is due to availability of government subsidies for goat farming.
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