Goat Milk Market Outlook 2024: a resilient growth from $5.75 billion in 2023 to $6.63 billion by 2028
Source: The DairyNews
The global evaporated goat milk market is on an upward trajectory, fueled by its nutrient-rich profile and growing popularity as a lactose-alternative.
Latest market analysis by Research and Markets, featured on a premier research platform, projects a resilient growth from $5.75 billion in 2023 to an estimated $6.63 billion by 2028, supported by a compound annual growth rate (CAGR) of 3.0%.
Key Growth Drivers:
Europe Dominance: Europe stands as a prominent player, followed by contributions from Asia-Pacific, North America, and the MEA region.
Category Segmentation: The market is categorized into whole evaporated milk and skimmed evaporated milk, each finding application in areas such as infant food, dairy products, confectionery, and bakeries.
Distribution Channels: Both online and offline channels contribute to the accessibility of evaporated goat milk products.
This comprehensive report provides valuable insights into the evolving landscape of the evaporated goat milk market, offering a strategic perspective for industry stakeholders navigating this dynamic and growing sector.
Key Growth Drivers:
- Health and Wellness Trends: Increasing consumer awareness regarding the health benefits of goat milk and its culinary versatility.
- Lactose Intolerance Prevalence: The rise in lactose-intolerant populations globally contributes to the growing acceptance of evaporated goat milk.
- Disposable Income Surge: Growing disposable income across regions propels the demand for premium and health-conscious products.
- Vegan and Dairy-Free Lifestyles: The shift towards vegan and dairy-free lifestyles is a significant factor influencing market expansion.
- Consumer Awareness: Rising understanding of the nutritional advantages of evaporated goat milk, especially suitable for children and those with dietary restrictions.
- Technological Advances: Ongoing efforts in product innovation and technological advancements by key industry players.
- Government Support: Favorable policies and government backing for dairy alternatives and lactose-intolerant friendly products.
- Functional Variations: Availability of functional and fortified goat milk options catering to modern consumer preferences.
Europe Dominance: Europe stands as a prominent player, followed by contributions from Asia-Pacific, North America, and the MEA region.
Category Segmentation: The market is categorized into whole evaporated milk and skimmed evaporated milk, each finding application in areas such as infant food, dairy products, confectionery, and bakeries.
Distribution Channels: Both online and offline channels contribute to the accessibility of evaporated goat milk products.
This comprehensive report provides valuable insights into the evolving landscape of the evaporated goat milk market, offering a strategic perspective for industry stakeholders navigating this dynamic and growing sector.
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