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Goat Milk Market Expected to Reach $11.4 Billion by 2026

 

Report Code : A05839

quote There is an increase in awareness about food habits among the consumers, in the recent years. Consumers choose their food products according to their nutritional compatibility and change their purchasing decisions according to their lifestyle by considering the health benefits. This trend is making way for lucrative growth opportunities for the goat milk sector. quote

Shankar Bhandalkar
Team Lead, Food and beverages at Allied Market Research

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According to a new report published by Allied Market Research, titled, " Goat Milk Market by Product, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global goat milk market size was valued at $8.5 billion in 2018 and is projected to reach $11.4 billion by 2026, registering a CAGR of 3.8% from 2019 to 2026.

Goat milk is the type of milk which is white, opaque liquid with a slightly sweet taste and no odor and has various health benefits. The report includes different product categories of goat milk such as milk, cheese, milk powder, and others. The milk by product type is anticipated to witness substantial growth owing to its health benefits, which increases its popularity among the health-conscious population.

In a past decade, people are much aware about their health and fitness. Goat milk provides 9 grams of protein, 10 grams of fat, and 330 milligrams of calcium per cup than any cattle milk or plant-based milk. It is rich source of fatty acids, calcium, and contains low level of cholesterol. Goat milk is considered as a great alternative to cow’s milk as it is easier to digest, less inflammatory, and has lesser number of allergens. It also enhances ability of human body systems to absorb important nutrients from other foods. It contains A2 casein, which does not cause inflammation hence, majority of market players prefer goat milk powder to produce infant formula. These health benefits responsible to increase goat milk market share. However, high cost of the goat milk and its products and increase in number of vegan people are expected to hamper the growth of the market. On the contrary, technological innovation in the dairy processing equipment and aggressive marketing strategies are expected to supplement the goat milk market growth in future.

The goat milk market is segmented on the basis of product, distribution channel, and region. Depending on product, the market is segmented into milk, cheese, milk powder, and others. 
Based on the goat milk market analysis by product, the cheese segment is expected to grow comparatively faster than other goat milk products, witnessing a CAGR of 5.3%.

According to the goat milk market forecast by distribution channel, the specialty store segment was the major revenue contributor in the market in 2018. In addition, the online segment is expected to witness a growth of the market due to increase in penetration of internet and e-commerce platforms. 

By region, the market is dominated by North America, particularly the U.S., followed by Canada as the major market, while Asia-Pacific is dominated by China, with nearly 4.1% CAGR during the forecast period. In addition, LAMEA is expected to witness a 4.6% CAGR during the forecast period. 

Key Findings of the Goat Milk Market:

  • In 2018, by product, the goat milk accounted for the highest market share, growing at a CAGR of 3.7% from 2019 to 2026.
  • In 2018, by distribution channel, the specialty store segment accounted for one-fourth share and is projected to grow at the highest CAGR of 2.9% during the forecast period.
  • In 2018, by region, North America accounted for a prominent market share and is anticipated to grow at a CAGRs of 2.9% throughout the forecast period.
  • In 2018, by country, Mexico accounted for a prominent market share and is anticipated to grow at a CAGRs of 5.3% throughout the forecast period.
  • In 2018, by region, Asia-Pacific accounted for a prominent market share and is anticipated to grow at a CAGRs of 5.8% throughout the forecast period.

Some of the major players in the operating in the global goat milk market include Ausnutria Dairy Corporation Ltd., AVH Dairy Trade B.V., Goat Partners International, Granarolo S.p.A., Meyenberg Goat Milk, Redwood Hill Farm & Creamery, St Helen’s Farm, Stickney Hill Dairy Inc., Woolwich Dairy Inc., and Xi'an Baiyue Goat Dairy Group Co.Ltd. 

The other players in the global goat milk industry are FIT, dairy expert, Hay Dairies Pte Ltd., The Good Goat Milk Co., Summerhill Goat Dairy, Delamere Dairy, Holle baby food AG, Cherry Glen Goat Cheese Co., Yayi International, and Dairy Goat Co-operation (DGC).

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quote Goat Milk Market by Product (Milk, Cheese, Milk Powder, and Other) and Distribution Channel (Hypermarkets & Supermarket, Convenience Store, Specialty Stores, Medical & Pharmacy Store, and Online): Global Opportunity Analysis and Industry Forecast, 2019-2026 quote

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