Press release
Milk Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Milk Market Size
The rise in desire for dairy products is anticipated to spur the development of the milk market in the near future. Dairy products, including butter, cheese, ice cream, yogurt, and condensed as well as dry milk, revolve around milk. Milk is essential for the creation of a variety of dairy products and offers nutrition, thereby, the rising necessity for dairy products enhances the need for milk. For example, in September 2022, the NZ Tauranga Aotearoa, a government data agency based in New Zealand, reported a total export value for milk powder, butter, and cheese at $18.8 billion. This represented an increase of 17% or $2.8 billion since July 2021. Therefore, the escalating need for dairy products is fuelling the milk market's expansion.
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What growth opportunities are expected to drive the milk market's CAGR through 2034?
The dairy industry has registered impressive growth lately and is set to surge from $860.9 billion in 2024 to $921.25 billion in 2025, marking a compound annual growth rate (CAGR) of 7.0%. The past growth within this sector has been fostered by factors like population growth and urbanization, increased knowledge about nutrition, shifting dietary habits, economic growth, and development within the dairy industry itself.
The milk market is anticipated to witness robust expansion in the upcoming years, projected to reach a value of $1249.04 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. This development during the predicted period is due to factors like health and wellness trends, sustainable dairy farming, changes in diet preferences towards plant-based alternatives, global food security concerns, and ingenuity in dairy products. Significant trends expected during this period encompass data analysis and insights, remote work efficiency, sustainability and ESG factors, agile and flexible operational models, and the incorporation of cybersecurity.
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What are the emerging trends shaping the future of the milk market?
The milk market is seeing an increasing trend in technological innovations, with major players in the sector turning to new technology to bolster the safety and quality of their milk, consolidating their market standing. For example, Everest Instruments, an Indian firm providing dairy technology solutions, launched the Fatscan Milk Analyzer in March 2023. This advanced technology delivers accurate and efficient evaluations of milk quality. It can evaluate the fat percentage, SNF (solids-not-fat), added water, density, protein, and lactose in under 30 seconds.
Which growth-oriented segments of the milk market are leading the industry's development?
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, Super markets And Hyper markets, Online, Other Distribution Channels
Subsegments:
1) By Skimmed Milk Powder: Whole Skimmed Milk Powder, Instant Skimmed Milk Powder
2) By Liquid Milk: Whole Milk, Low-Fat Milk, Flavored Milk, Organic Milk
3) By Whey Protein: Whey Protein Concentrate, Whey Protein Isolate, Hydrolyzed Whey Protein
4) By Butter: Salted Butter, Unsalted Butter, Clarified Butter (Ghee)
5) By Infant Nutrition: Infant Formula, Follow-On Formula, Toddler Milk
6) By Other Products: Cheese, Cream, Yogurt
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What regions are leading the charge in the milk market?
Asia-Pacific was the largest region in the milk market in 2024. The regions covered in the milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the milk market?
Major companies operating in the milk market include Danone SA, Arla Foods Amba, China Mengniu Dairy Company Limited, 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, Saputo Inc., Dairy Farmers of Canada, Dairy Farmers of Ontario, California Dairies Inc., Agropur Cooperative, Anand Milk Union Limited
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What Is Covered In The Milk Global Market Report?
• Market Size Forecast: Examine the milk market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the milk market for a structured understanding.
• Key Players Overview: Analyze major players in the milk market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the milk market.
• Segment Contributions: Evaluate how different segments drive overall growth in the milk market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the milk market.
• Industry Challenges: Identify potential risks and obstacles affecting the milk market.
• Competitive Landscape: Review strategic developments in the milk market, including expansions, agreements, and new product launches.
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