Chicago, March 02, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s recent research report, the goat milk products market is expected to grow at a CAGR of 7.77% during the period 2022−2027. In 2021, the goat cheese was the leading segment and contributed the highest revenue.
The US is the fastest-growing market for goat cheese, and new product launches with creative flavors and tastes are the major drivers. Moreover, continuing market mergers and acquisitions will help vendors to tap the market. For example, Saputo, one of Canada's largest dairy firms, purchased Woolwich Dairy in October 2015 and now sells goat's milk cheese in a variety of shapes, including logs, pails, and crumbles, through its US cheese division.
Goat Milk Products Market Report Scope
| Report Attribute | Details | |
| Market Size (Revenue) | $17.95 billion | |
| CAGR (Revenue) | 7.77% | |
| Base Year | 2021 | |
| Forecast Period | 2022-2027 | |
| Largest Market | Europe | |
| Fastest Market | APAC | |
| Market Segments | Product Type, Milk Powder, Packaged Milk, UHT Milk, Application, and Distribution Geography | |
| Geographical Analysis | Europe, North America, APAC, Latin America, and Middle East & Africa | |
| Countries Covered | Germany, France, UK, Spain, Netherlands, US, Canada, China, South Korea, Australia & New Zealand, India, Brazil, Argentina, Mexico, GCC Turkey, and South Africa | |
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Key Highlights Offered in the Report:
- With the rising demand for goat milk products in various countries, such as the US, China, France, and Germany, several large firms are expanding their consumer base and developing a unique market position through acquisitions.
- The US Food and Drug Administration (FDA) regulates the production, processing, and marketing of goat milk in the US. The Grade According to the Pasteurized Milk Ordinance (PMO) contains the FDA's standards for goat milk manufacturing. According to the ordinance, the somatic cell count (SCC) standard for goat milk must be 1 million per 0.033 ounce.
- Goat milk is widely consumed due to its exceptional nutritional and physiological benefits. Goat milk products such as goat cheese and yoghurt are mostly produced and consumed worldwide. Minerals such as protein, calcium, magnesium, phosphorus, and vitamins are abundantly present in goat milk.
- APAC is predicted to surpass Europe in 2027, making it the world's largest goat milk product market. With a CAGR of 10.08%, the market in APAC is expected to develop at the fastest pace throughout the forecast period and will generate revenue of USD 2.54 billion by 2027.
- In 2021, Europe accounted for the largest revenue share of 31.44% in the global market, followed by North America with 30.29%
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by Product Type, Milk Powder, Packaged Milk, UHT Milk, Application, and Distribution Geography
- Competitive Landscape – 7 key vendors and 16 Other prominent vendors are profiled in the report
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Goat Milk Product Market – Trends & Opportunities
The power of digital and social media is being leveraged by various vendors to improve the client experience for their clients. Also, the ease of online shopping and substantial online shopping discounts have encouraged many people to shop for goat milk products online. E-retailing of different products, including goat milk products, is gaining popularity as it is a time-saving and cost-effective method of procuring the required products. Moreover, governments all around the globe are offering financial incentives to many marginal farmers and entrepreneurs to enter the commercial goat farming business, owing to the rising demand for goat milk and meat. Therefore, the ongoing trend of goat milk products are gaining high traction in the global market.
Goat Milk Product Market – Segmentation
- Goat milk has played an essential part in the economic well-being of emerging countries across the Mediterranean, Middle Eastern, and Eastern European regions that specialize in cheeses and other dairy products. In 2021, the goat cheese segment accounted for a revenue of nearly 44.50% in the global goat milk products market.
- Goat milk powder is mostly exported from New Zealand, the Netherlands, France, and Germany. One of the keys selling points for goat milk brands is the fortification of milk powder. Almost all goat milk powder in Taiwan is fortified. The growing need for baby and follow-on formulas in China is driving the demand for goat milk powder-based products in APAC.
- Mt. Capra, the Good Goat Milk Company, Delamere, and Meyenberg are a few of the world's largest producers of packaged goat milk. In addition, numerous local players are bottling and selling goat milk, owing to the high demand in the global market.
- With a high rate of digitization and technology adoption across regions, leading goat milk products suppliers are making use of this opportunity to advertise and sell their goods through the online distribution channel. Although online sales make up a small portion of overall market income, there has been a significant increase in online product sales, which is likely to continue in the next few years owing to increasing digital transformation.
Segmentation by Product Type
- Cheese
- Chevre
- Mozarella
- Cheddar
- Feta
- Others
- Milk Powder
- Whole Milk
- Skimmed Milk
- Packaged Milk
- Whole Milk
- Skimmed Milk
- UHT Milk
- Whole Milk
- Skimmed Milk
- Others
Segmentation by Application
- Adult
- Teenager
- Elder
- Infant
Segmentation by Distribution Channel
- Super Markets & Hypermarkets
- Convenience Stores
- Speciality Stores
- Medical & Pharmaceutical Stores
- Online
- Others
Segmentation by Geography
- Europe
- Germany
- France
- UK
- Spain
- Netherlands
- North America
- US
- Canada
- APAC
- China
- South Korea
- Australia & New Zealand
- India
- Latin America
- Brazil
- Argentina
- Mexico
- Middle East & Africa
- GCC
- Turkey
- South Africa
Key Drivers and Trends Fueling Market Growth:
- Growing Number of Health-Conscious Consumers
- Growing Demand from Emerging Economies
- Internet Largely Shaping End-User Purchasing Behavior
- Rising Government Subsidies on Goat Farming
- Higher Nutritional Benefits Over Other Milk Varieties
Goat Milk Products Market – competitor landscape
The goat milk products market is highly fragmented, with suppliers competing based on product quality, innovative product development, and competitive price. Arizton believes that the market is approaching saturation and that foreign businesses would attempt to develop inorganically by purchasing top players to broaden their product offering and geographic reach. Several players are projected to expand their global presence throughout the forecast period, particularly in the fast-developing countries across APAC, to capture a greater market share. Companies must dedicate substantial time and resources to develop and launch novel and original goat milk products that meet consumer requirements. Moreover, consumers are ready to pay a premium for high-quality and genuine goat milk products. Thus, in the upcoming years, players must focus on launching natural and organic goat milk products.
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KEY VENDORS
- Dairy Goat Co-operation
- Stickney Hill
- Meyenberg Goat Milk Products
- FIT Company
- Baiyue Group
- Goat Partners International
- Groupe Lactalis
OTHER PROMINENT VENDORS
- Ausnutria Dairy Corporation Ltd
- AVH Dairy Trade B.V.
- Delamere Dairy
- Granarolo Group
- Hay Dairies
- Kavli
- Summerhill Goat Dairy
- Vitagermine
- Holle
- Shaanxi Huaenbao Dairy Co Ltd
- Woolwich Dairy
- Redwood Hill Farm and Creamery
- The Good Goat Milk Company
- Cherry Glen Goat Cheese Co.
- Lacteos Caprinos S.A.
- Toggs
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