2025 Milk Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Milk Market Size By 2025?
The growth of the milk market has been substantial over the past few years. The market is forecasted to accelerate from $860.9 billion in 2024 to reach a value of $921.25 billion in 2025, with a compound annual growth rate (CAGR) of 7.0%. Factors contributing to this growth in the past include population expansion and urban development, an increase in nutritional awareness, shifts in dietary preferences, economic advancements, and the development of the dairy industry.

How Big Is the Milk Market Size Expected to Grow by 2029?
In the foreseeable future, robust expansion is anticipated in the milk market, which is projected to reach $1249.04 billion by 2029, growing at a Compound Annual Growth rate (CAGR) of 7.9%. This surge during the prediction period could be a result of health and wellness trends, sustainable dairy practices, dietary changes incorporating plant-based alternatives, global food safety, and innovation in dairy commodities. Key trends for this forecast period comprise data analytics and insights, optimization of remote work, sustainability and environmental, social, and governance (ESG) factors, agile and accommodating operations, and the integration of cybersecurity.

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Which Key Market Drivers Powering Milk Market Expansion and Growth?
The expansion of the milk market is anticipated to be driven by the increasing consumption of dairy products. Dairy products, including items made from milk such as butter, cheese, ice cream, yogurt, condensed and dried milk, are reliant on milk not only as their base ingredient but also as a key nutritional provider. Consequently, the escalating demand for these dairy items heightens the need for milk. A relevant example can be found in the data reported by NZ Tauranga Aotearoa, a government data agency in New Zealand. In September 2022, the combined export value for milk powder, butter, and cheese from New Zealand climbed to $18.8 billion, which showed a 17% increase or a $2.8 billion growth compared to July 2021. Thus, this surge in the demand for dairy products effectively spurs the growth of the milk market.

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Which Fast-Growing Trends Are Poised to Disrupt the Milk Market?
One of the major trends gaining traction in the milk market is the implementation of technological advancements. Big players in the milk industry are placing a premium on adopting innovative technology in their operations to amplify milk safety and quality, thereby solidifying their stand in the market. For example, Everest Instruments, a firm based in India that provides dairy technology solutions, launched the Fatscan Milk Analyzer in March 2023. This advanced technology furnishes accurate and efficient analysis of milk quality. It has the capability to determine the fat percentage, Solid-Non-Fat (SNF), added water, the density, protein and lactose content in a span of less than 30 seconds.

What Are the Emerging Segments in the Milk Market?
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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Milk Industry?
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

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