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Goat Milk Products Market Research Analysis 2024-2033: Growth, Size, Demand, Analysis, Insights
Goat Milk Products Market Research
According to The Business Research Company's, The goat milk products market size has grown strongly in recent years. It will grow from $12.61 billion in 2023 to $13.35 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to cultural significance, local dairy practices, traditional cheese making, health perceptions, specialized nutrition..
The goat milk products market size is expected to see strong growth in the next few years. It will grow to $16.6 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to educational campaigns and marketing, global market expansion, innovation in product development, sustainability and ethical consumption, premiumization and specialty products.. Major trends in the forecast period include alternative dairy demand, health and nutritional benefits, global market penetration, innovation in processing, sustainability and ethical consumption..
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Market Drivers and Trends:
The increasing consumer spending on healthy dairy foods is expected to significantly drive the goat milk products market going forward. Increasing consumer spending on healthy dairy foods refers to the trend of consumers allocating a larger portion of their food budget to dairy products perceived as healthy. Healthy dairy foods are considered good for human health due to their nutrient content and health benefits. For instance, in September 2022, according to data released by the USDA Economic Research Division, a US-based government agency, per capita dairy consumption increased by 12.4 pounds per person compared to the previous year, with the average American consuming 667 pounds of dairy products in 2021. Therefore, the increasing consumer spending on healthy dairy foods is driving the growth of the goat milk products market going forward.
Technological advancements are a key trend gaining popularity in the goat milk products market. Major goat milk product manufacturers are focusing on the integration of advanced technologies in production facilities to sustain their position in the market. For instance, in April 2023, Emmi AG, a Switzerland-based milk processing and dairy products manufacturing company, opened a spray-drying tower and goat milk powder production facility in the Netherlands. The spray-drying tower fulfils the rising demand for goat's milk powder, and it is energy-efficient. The new facility includes energy-efficient energy pumps and recovery technologies. It uses an electric heat pump instead of a gas-powered steam system.
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Major Key Players of the Market:
Ausnutria Dairy Corporation Ltd.; Dairy Goat Co-Operative NZ Ltd.; Goat Partners International Inc.; Holle baby food AG; St Helen's Farm Ltd.; Woolwich Dairy Inc.; Xi'an Baiyue Goat Dairy Group Co. Ltd.; Meyenberg Goat Milk Products; Redwood Hill Farm & Creamery; Saputo Inc.; Hay Dairies Pte. Ltd.; Good Goat Milk Company; Stickney Hill Dairy Inc.; Cherry Glen Goat Cheese Co.; Hewitt's Dairy Ltd.; HiPP GmbH & Co. Vertrieb KG; Courtyard Farms; Delamere Dairy Ltd.; Summerhill Goat Dairy; Hogwegt Group; Delamere Dairy Ltd.; Emmi Group; AVH Dairy Trade B.V; Granarolo S.p.A.; Yayi International Inc.; Westfield Farms Ltd.; Danone S.A.; Nubian Heritage Dairy Goat Farm; MT. Capra Products
Goat Milk Products Market 2024 Key Insights:
• The goat milk products market will grow to $16.6 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Surging Consumer Spending On Healthy Dairy Foods Propels Growth In The Goat Milk Products Market
• Technological Advancements Reshaping The Landscape Of The Goat Milk Products Market
• Asia-Pacific was the largest region in the goat milk products market in 2023
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