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Milk Market Size, Share, Growth, Trends, Analysis, Forecast To 2033
Milk Market Size
As per the report, the milk market size has grown strongly in recent years. It will grow from $794.96 billion in 2023 to $863.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The milk market size is expected to see strong growth in the next few years. It will grow to $1181.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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The Surge In Dairy Product Demand Propelling Global Milk Market Growth
The growing demand for dairy products is expected to propel the growth of the milk market going forward. Dairy products refer to milk-based foods such as butter, cheese, ice cream, yogurt, and condensed and dried milk. Milk is a primary source for producing various dairy products and providing nutrition, as a result, the growing demand for dairy products increases the demand for milk. For instance, in September 2022, according to the NZ Tauranga Aotearoa, a New Zealand-based government data agency, New Zealand reported a combined export value of milk powder, butter, and cheese of $18.8 billion, an increase of 17% or $2.8 billion from July 2021. Therefore, the growing demand for dairy products drives the growth of the milk market.
Everest Instruments Unveils Fatscan Milk Analyzer, Pioneering Precision And Efficiency In Milk Quality Analysis
Technological innovations are a key trend gaining popularity in the milk market. Major companies in the milk sector are focused on incorporating new technology in operations to enhance the quality and safety of milk and strengthen their market position. For instance, in March 2023, Everest Instruments, an India-based provider of dairy technology solutions, introduced the Fatscan Milk Analyzer, which implements cutting-edge technology to provide a precise and effective analysis of milk quality. The technology can measure the % of fat, SNF (solids-not-fat), added water, density, protein, and lactose in less than 30 seconds.
The milk market covered in this report is segmented -
1) By Product: Skimmed Milk Powder, Liquid Milk, Whey Protein, Butter, Infant Nutrition, Other Products
2) By Animal sources: Cows, Sheep, Buffalo, Goats, Other Sources
3) By Distribution: Convenience Stores, Supermarkets And Hypermarkets, Online, Other Distribution Channels
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Major companies operating in the milk market report are Danone SA, Arla Foods Amba, China Mengniu Dairy Company Limited, Kraft Foods Group Inc., Land O'Lakes Inc., Meiji Holdings Co. Ltd., Almarai Company, Royal Friesland Campina NV, Armor Proteines SAS, Dairy Farmers of America Inc., Fonterra Co-operative Group Ltd., Foremost Farms USA Cooperative, Glanbia plc, Groupe Lactalis SA, Gujarat Cooperative Milk Marketing Federation, Hangzhou Wahaha Group Co. Ltd., HP Hood LLC, Inner Mongolia Yili Industrial Group Co. Ltd., Kerry Group plc, Nestle SA, Lactalis Group SA, Fonterra Co-operative Group Limited, Saputo Inc., Dairy Farmers of Canada, Dairy Farmers of Ontario, California Dairies Inc., Agropur Cooperative, Anand Milk Union Limited .
Contents of the report:
1. Executive Summary
2. Milk Market Report Structure
3. Milk Market Trends And Strategies
4. Milk Market - Macro Economic Scenario
5. Milk Market Size And Growth
…..
27. Milk Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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