New York, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Sheep milk Market: Key Insights
According to our new research study on “Sheep Milk Market to 2028 – Global Analysis and Forecast – by Category and Distribution Channel,” the Sheep Milk Market is expected to grow from US$ 6,129.64 million in 2021 to US$ 8,095.61 million by 2028; it is expected to register a CAGR of 4.1% during 2021–2028. Sheep milk is obtained from dairy sheep and is high in nutrient profile. The high protein content in sheep milk is the major factor boosting its retail sale. However, the majority of the sheep milk produced is consumed in the dairy processing industry to produce cheese, yogurt, and other products due to its high-fat content. Additionally, the retail sale of sheep milk is highly governed by the unorganized retail sector, especially in developing countries. Such factors are hampering the overall growth of the global sheep milk market.
Sheep Milk Market: Competition Landscape and Key Developments
Origin Earth Limited, Sheep Milk Company Ltd., Velvet Cloud, Best Baa Dairy Limited, OVINO, Secret Lands Farm, and Fernglen Farm are among the key companies operating in the global sheep milk market. These market players make use of advanced technology equipment for feeding, bedding, milking, and packaging of products. The market players are aiming to cater to the rising consumption of sheep milk to secure a better market position.
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Sheep milk, also known as ewe’s milk, is obtained from domestic sheep. Several sheep breeds are farmed to get wool and are further used for meat and milk; however, a few specialized breeds are only utilized for commercial dairy products as they have a higher yield and longer lactating period. Sheep milk has been utilized since primordial time, owing to its high acceptability and digestibility to the human digestive system. It is further considered to be a healthy alternative to cow and goat milk, as it offers resistance against certain diseases and has antiallergenic properties. It mainly consists of a high amount of protein (5.4%); lactose (4.9%); lipid fat (6.4%); saturated fatty acids; carbohydrates; unsaturated fatty acids, including oleic acid, conjugated linoleic acids, and trans-fatty acids; vitamins, such as vitamin B12, vitamin B5, vitamin A, vitamin B2, vitamin B1, vitamin C; minerals, such as phosphorus and calcium; and amino acids, such as tryptophan, valine, threonine, isoleucine, leucine, lysine, and histidine.
In 2020, Asia-Pacific held the largest revenue share of the global sheep milk market. Steady growth in the middle-class population, coupled with a rise in urbanization in the countries, creates lucrative opportunities for the major market players. Due to the ever-increasing disposable income of the middle-income group population, people are willing to pay higher prices for food products such as sheep milk, which is comparatively expensive than cow milk. Change in consumer preferences for taste, increase in demand for high-protein and high-energy products, rise in requirement for sheep milk from health-conscious consumers, and easy availability of various product variants, are boosting the growth of the sheep milk market in Asia-Pacific.
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The key players operating in the Asia-Pacific sheep milk market include Fernglen Farm, Origin Earth Ltd., Sheep Milk Company Ltd., and Spring Sheep Milk Co. The key manufacturers are highly focused on developing high-quality and innovative products to meet the consumer's requirements through research & development, technological advancements, and other strategies.
Sheep Milk Market: Segmental Overview
Based on category, the sheep milk market is segmented into organic and conventional. The conventional segment accounted for a larger revenue share in 2020. However, the organic segment is expected to register a higher CAGR during 2021–2028.
In terms of distribution channel, the sheep milk market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The convenience stores segment dominated the market in 2020, and the same segment is expected to maintain its dominance during the forecast period. However, the online retail segment is expected to register the highest CAGR during 2021–2028.
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Impact of COVID-19 Pandemic on Sheep Milk Market:
The World Health Organization (WHO) has declared COVID-19 as a pandemic. This disease has a diverse impact in different countries, depending on cultural norms, mitigation efforts, and health infrastructure; and each country is battling the pandemic in its own way. The pandemic has massively affected the dairy industries in different countries, including China and the US, owing to decreased farmgate milk prices, worker shortages, disruption and difficulties in moving milk within the supply chains, increased production costs, and the lack of operating capital. In addition, with the relaxation of restrictions on personnel movement and the lifting of lockdown measures, the global sheep milk market is presumed to witness notable growth in the coming years since people are aware of its nutritious value. Sheep milk contains nearly one-third more energy as compared to cow or goat milk (which makes it a favorite of high-performance athletes). It also has double the protein and much more of the right kinds of fats, vitamins, and minerals—particularly calcium, iron, phosphorus, magnesium, and zinc, while being lower in sodium.
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