Goat Milk Market is projected to Grow at a CAGR of 4.2% during the upcoming years 2022- 2029 | Size, Share & Forecast

Goat Milk Market is expected to grow at a CAGR of 4.2% over the forecast period, till 2029.

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The factors driving the growth of Goat Milk Market includes rising prevalence of asthma, eczema, and magnesium deficiency diseases, increasing geriatric population around the world, growing awareness about the benefits of consuming goat milk and improvements in the living standards. According to the report published by World Health Organization (WHO), around 262 million people were diagnosed with asthma in 2019, which caused nearly 455,000 deaths and majority of the asthma-related deaths occurred in low- and lower-middle-income countries, which is pushing the demand for goat milk products. Moreover, growing demand for flavored goat milk products, rising adoption of advanced technologies by major companies, emerging trend of veganism, increasing popularity of lactose-free products and rapid urbanization, are some of the additional factors supplementing the Goat Milk Market size. In addition, the increasing investments by major companies on research and development, strategic mergers, and partnerships between key industry players, rise in the launch of innovative products and growing population growth rates, are further propelling the Goat Milk Market share.

However, growth of the Goat Milk Market is hindered because consuming goat milk in excessive quantity can lead to obesity.

The leading players operating in the market are Holle Baby Food AG, Yayi International, Inc., Dairy Goat Co-operation (DGC), Hay Dairies Pte Ltd., The Good Goat Milk Company, Summerhill Goat Dairy, Ausnutria Dairy Corporation Ltd., AVH Dairy Trade B.V., Delamare Dairy, and Granarolo S.p.A., among others.

Based on Products, the Milk segment is predicted to grow at a significant CAGR during the forecast period

Goat Milk provides adequate amount of potassium, iron, calcium, and vitamin A, which is pushing growth of the segment.

Based on Distribution Channel, the Specialty Store segment is projected to expand at a robust CAGR over the forecast period

Specialty stores offers wide range of goat milk products and provides personalized services to their customers, are some of the factors propelling growth of the segment.

Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period

Growing demand for goat milk, cheese and yogurt products, rising prevalence of cardiovascular disorders, hypertension and diabetes, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Development

In 2020, Delamare Dairy launched the "UK's first Goat Milk Powder". This new milk powder was introduced to meet the demand for store cupboard alternative during COVID-19 pandemic.

Market Segmentation

Segmentation by Products

Milk
Cheese
Milk Powder
Others

Segmentation by Distribution Channel

Supermarkets and Hypermarkets
Convenience Store
Specialty Store
Medical Store and Pharmacy
Online

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.