(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 17, 2024 (GLOBE NEWSWIRE) -- The "Goat Milk Products market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Goat Milk Products Market was valued at USD 13.01 Billion in 2023, and is expected to reach USD 20.75 Billion by 2029, rising at a CAGR of 8.09%. The global goat milk products market report includes exclusive data on 39 vendors. The market is highly fragmented, with suppliers competing on product quality, innovative product development, and competitive prices. The competitive scenario in the global goat milk products market is dynamic, with a mix of global and domestic players offering a diverse range of products. New players face significant entrance hurdles due to high financial needs and quick technological advancements.
Key Takeaways:
By Product: The cheese segment held a major market share due to its nutritional properties compared to cow milk cheese. By Consumer: The adult segment dominated the market share due to increased consumer demand for vitamins & proteins. By Geography, Europe dominated the market, with a share of over 31% in the global goat milk products market.
The global goat milk products market is set to grow, driven by the growing popularity of goat cheese and increasing demand for goat milk infant formula.
MARKET TRENDS
Growing Popularity of Goat Cheese
The growing popularity of goat cheese is a significant trend in the global goat milk products market. This is driven by several factors, including health benefits & dietary preferences, growing consumer awareness & demand, unique & distinct flavors, and expanding product range. Goat milk cheese is lower in calories and fat than many cow's milk cheese. It appeals to health-conscious consumers. Goat milk is easier to digest, and proteins are smaller. This can be an ideal option for individuals with intolerance.
Goat cheese has emerged as the most promising market worldwide in the last decade. Goat cheese is also higher in vitamins, including vitamins A, B1, B2, and B3, as well as calcium and phosphorus. As goat cheese offers a variety of flavors, from tangy and sharp to creamy and mild, its demand is growing significantly across the globe.
Increasing Demand for Goat Milk Infant Formula
Demand for goat milk infant formula is rising significantly in the global market due to several factors, including perceived health benefits, nutritional profile, reduced allergenicity, and growing awareness of the potential benefits of goat milk. Goat milk powder is used by the majority of newborn milk formula manufacturers, thus helping the market to grow.
Higher Nutritional Benefits Over Other Milk Varieties
The higher nutritional benefits of goat milk over other milk varieties are a significant driver of goat milk products in the global market. Its advantages are easier digestibility, nutrient-rich, and lower allergenicity. Goat milk is high in digestible protein. Goat milk contains more protein per serving than cow, soy, or nut milk. Furthermore, goat milk protein looks more easily digested, implying that the consumer's body can utilize it more readily.
Goat milk also has a higher protein content than almond or rice milk. Goat milk may assist patients with high blood cholesterol to lower their cholesterol levels. Goat milk is the most widely eaten dairy product in the world.
Growing Number of Health-Conscious Consumers
The growing number of health-conscious consumers is a significant driver in the global goat milk products market. This is due to perceived health benefits, the shift towards organic & natural food products, nutritional value, environmental considerations, and product range expansion.
Goat milk is thought to be a good source of a variety of macro- and micronutrients. It has an excellent balance of protein, fat, carbs, and other nutrients, promoting nutritional and health advantages. Compared to other species of milk, goat milk has several health advantages and a lesser chance of allergy. Consumers are conscious while making food choices and consumption decisions to contribute to good health.
Rising Availability of Non-Dairy Milk or Plant-based Products
The rising availability of non-dairy or plant-based products is a major challenge in the global goat milk market. This is due to various factors, including increased competition, health & environmental concerns, consumer preference shifts, and plant-based product innovation. Non-dairy milk or plant-based milk, like almond, soy, oat, etc., is becoming more available. This increases the competition for consumer attention and shelf space.
The rising number of consumers adopting flexitarian diets or vegan food focuses on choosing plant-based alternatives. As plant-based products have several health benefits (less saturated fat and lower cholesterol), consumers seek such products. Rapid innovations in the plant-based products industry focus on offering a mimicry of the texture and taste of dairy. It may hinder the growth of goat milk products during the forecast period.
GEOGRAPHY ANALYSIS
Europe accounted for the largest share of over 31% of the global goat milk products market. Europe, particularly France, has the best-organized goat milk market in the world. Germany and France controlled the European goat cheese industry.
The majority of goat milk in Europe is processed into cheese by huge dairy companies that coexist alongside small local businesses and artisanal farm dairies. Pure goat milk cheeses are made mostly in France, whereas mixed cheeses containing cow and sheep milk are made in Spain and Greece. In addition to cheese, pasteurized goat milk for direct consumption and powdered goat milk for newborn formulae have seen a surge in demand. The organic dairy business is expanding in Europe, and goat farmers are expanding their offerings to include cheese, various types of milk, and yogurt.
COMPETITIVE LANDSCAPE
To capture greater market share, several players are projected to extend their presence globally throughout the projection period, particularly in the fast-developing nations of the APAC region. Price, availability, nutrition, organic, natural, and GMO certification are all aspects that players compete on. Major players in the goat milk proucts market include Ausnutria Dairy Corporation Ltd, Dairy Goat Co-operation, Darey Brands, Inc., Emmi Group, FIT Company, Goat Partners International, Holle Baby Food AG, Stickney Hill Dairy Inc., The Kraft Heinz Company, and Xi'an Baiyue Goat Dairy Group.
Key Vendors in the Goat Milk Products Market
Ausnutria Dairy Corporation Dairy Goat Co-operation Darey Brands, Inc. Emmi Group FIT Company Goat Partners International Holle baby food AG Stickney Hill Dairy The Kraft Heinz Company Xi'an Baiyue Goat Dairy Group
Other Prominent Vendors
Aadvik Foods Basta Cherry Glen Farm, Inc. Courtyard Farms Delamere Dairy Eurial Fineboon FrieslandCampina Good Goat Milk Co. Granarolo Happy Days Dairy Hay Dairies Pte Ltd Hewitt's Dairy HiPP Kavli Kendamil Lacteos Caprinos S.A. Land O'Lakes, Inc., Mt. Capra Nannycare Ltd. ROCK RIDGE FARMS Saputo Inc. Shaanxi Huaenbao Dairy Co Ltd St. Helen's Farm Summerhill Goat Dairy Toggs Goat's Milk Vitagermine SAS Yayi International Inc. Toggs Goat's Milk
KEY QUESTIONS ANSWERED:
What is the growth rate of the global goat milk products market? How big is the global goat milk products market? Which consumer segment provides more global goat milk products market business opportunities? Which region dominates the global goat milk products market? Which product segment has the largest global goat milk products market share? Who are the leading players in the global goat milk products market?
Key Attributes:
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