DUBLIN--(BUSINESS WIRE)--The "Goat Milk Powder Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global goat milk powder market is expected to reach revenues of around $5 billion by 2024, growing at a CAGR of approximately 9% during 2018-2024.
The emergence of European countries such as Germany, the UK, France, the Netherlands, and Spain as the major importers and exporters of goat cheese will positively impact the global market. The rise of new trade benefits that aid the availability of dairy products with the help of chillers and cold chain logistics for categories like yogurt and fresh milk will propel the growth of the market.
The global goat milk powder market is driven by the breastfeeding rates, increasing infant population, and trending bottle-feeding culture across countries. North America and Europe are the largest goat cheese producers in the global market.
Market Dynamics
Although goat milk cannot be a perfect substitute for breast milk, the protein found in goat milk can be considered the closest alternative to human breast milk.
Cow milk contains A1 casein that can cause inflammatory or allergic reactions among infants resulting in diarrhea and abdominal cramping. However, goat milk contains A2 casein that is also found in human breast milk and can be easily digested by infants. The fat globules present in goat milk are relatively smaller in diameter, which allows easier absorption of up to 94% in infants.
Goat milk is gaining popularity across the world, approximately 65% of the global population consumes goat milk over cows milk. Goat milk has a lot of nutritional benefits, it is less likely to cause lactose intolerance and is easier to digest than cow milk or other dairy alternatives. As the world shifts towards higher consumption of goat milk and goat milk products, the demand for goat milk powder is likely to increase globally.
The growing trend of health consciousness among people, which is currently seen only among certain segments of the society, is expected to increase significantly among the population during the forecast period. The modern generation is becoming more interested in pursuing a healthy lifestyle.
Apart from this, there is a gradual shift among consumers towards healthier eating habits. The modern, younger generation are now more aware of the importance of taking care of ones health. Thus, there is a growing demand for goat milk and products, which are highly nutritious and easily digestible, amongst the health-conscious population.
Market Segmentation
This market research report includes a detailed segmentation of the market by product type, end-products, distribution channels, and geography. The global goat milk powder market by product type is classified into skimmed and full cream milk powder. The skimmed milk power segment dominated more than half of the total market share in 2018, growing at a CAGR of more than 9% during the forecast period.
The rapidly changing food habits and health issues such as obesity and high level of cholesterol are fueling the growth of this segment in the global market. Full fat milk is used for a variety of foods such as ice-cream and cheese and in cosmetics such as soaps in the global market. The rising demand for infant formula is driving the demand for full cream milk powder in the market. FIT, CBM, AVH Dairy, and Red Star are offering full-fat products in the global goat milk powder market.
Full fat milk is used for a variety of foods such as ice-cream and cheese and in cosmetics such as soaps in the global market. The rising demand for infant formula is driving the demand for full cream milk powder in the market. FIT, CBM, AVH Dairy, and Red Star are offering full-fat products in the global goat milk powder market.
The easier digestibility of these products makes it a highly suitable alternative for individuals with cow milk allergies and lactose malabsorption in the market. Artisan du Chocolate, Mast Brothers, Manao Chocolates, Billy Goat Stuff, and Jordi Chocolates are some of the most popular chocolate brands in the global goat milk powder market.
The global goat milk powder market by distribution channels is segmented into hypermarkets & supermarkets, convenience stores, specialty stores, medical & pharmacy stores, and others. Hypermarkets & supermarkets occupied approximately half of the total market share in 2018. The presence of all types of grocery products under one roof is boosting the retail sales of hypermarkets & supermarkets in the global market. The online channels are the fastest growing segment in the global goat milk powder market.
Market Segmentation by Product Type
- Skimmed Milk Power
- Full Cream Milk Power
Market Segmentation by End-products
- Infant & Follow-On Formula
- Cheese
- Dietary Supplements
- Yogurt
- Chocolate
- Others
Market Segmentation by Distribution Channels
- Hypermarkets & Supermarkets
- Convenience Stores
- Specialty Stores
- Medical & Pharmacy Stores
- Others
Market Geography
The geographical segment in the global goat milk powder market is categorized into APAC, Europe, North America, Latin America, and MEA. APAC is the fastest growing region in the worldwide market, at a CAGR of around 11% during the forecast period. The growing disposable income, westernization, rising demand for infant formula from Chinese mothers, and the increasing impact of the social media are some of the major factors attributing to the growth of the APAC region in the global market.
The increasing demand for organic and natural food across Europe will fuel the growth of this region in the global market. The rising demand for goat cheese and number of lactose-intolerant people are driving the demand across the North American market. The increasing income, growing urbanization, and the burgeoning health-conscious population across MEA will positively impact the global goat milk powder market.
Market Segmentation by Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Spain
- APAC
- China
- South Korea
- Australia & New Zealand
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
Key Vendor Analysis
The global goat milk powder market is fragmented due to the presence of several vendors. The top players are competing on the basis of product quality, new products, and competitive pricing in the market. The key companies are introducing new or improved products to match the growing requirements of the dynamic consumer preferences in the market. The vendors are investing in technological advancements, packaging designs, and production innovations to sustain the competition in the global goat milk powder market.
The major vendors in the global goat milk powder market are:
- Dairy Goat Co-operation (DGC)
- FIT Company
- Goat Partners International
- Meyenberg Goat Milk Products
- Bai Yue Group
Other prominent vendors in the goat milk powder market include AVH Dairy Trade B. V., Ausnutria Dairy Corporation Ltd., Holle, The Good Goat Milk Company, CapriLac, Shaanxi RedstarMeiling Dairy Co., Ltd., Shaanxi GuanshanDairyCo., Ltd., Mt. Capra, Keytone Dairy Corporation Limited, Bubs Organic, Billy Goat Stuff, Zotter Chocolates, Mast Brothers, Bend Soap Company, Goat Milk Stuff, Blue Ridge Soap Shed, Laloo's Ice Cream, and Seed + Mill.
Market Dynamics
Growth Enablers
- High demand for goat milk infant formulas
- High prevalence of lactose intolerance population
- Higher nutritional benefits of goat milk powder
Growth Restraints
- High cost of goat milk powder
- Risk of contamination and health concerns
- Stringent government regulations
Opportunities & Trends
- Growing number of health-conscious people
- Growing demand from emerging economies
- Influence of internet in shaping end-users' purchasing behavior
- Increasing number of M&As
For more information about this report visit https://www.researchandmarkets.com/research/37zf8b/global_goat_milk?w=4
