Global Goat Milk Market - 2022-2029

Global Goat Milk Market - 2022-2029

Market Overview

The global goat milk market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).

Goat milk is highly nutritious as it contains a rich amount of essential minerals and vitamins, including iron, potassium, and calcium. It aids lower blood pressure levels, enhances metabolism, supports good heart health, improves neural functioning, and increases the growth of beneficial gut bacteria. Moreover, goat milk has smaller fat particles that produce a softer and small curd in the stomach. Furthermore, regular consumption of goat milk helps enhance the blood platelet count during viral diseases, such as dengue. It also helps treat asthma, eczema, anemia, magnesium deficiency diseases, skin disorders, and digestive ailments. This product's growing popularity due to its slightly lower cholesterol level is expected to drive market growth.

Market Dynamics:

The rising consumer health benefits offered by goat milk is anticipated to drive market growth

The rising consumer health concerns about the high prevalence of lifestyle diseases, such as cardiovascular disorders, diabetes, hypertension, obesity, etc., are driving the consumption of goat milk products. As per IDF Diabetes Atlas, in 2021, 537 million adults (20-79 years) are living with diabetes. The growing geriatric population more prone to bone-related medical ailments further strengthens the market growth. Moreover, the increasing awareness of several benefits of goat milk is also driving its demand, particularly among health-conscious consumers. Goat milk contains especially higher levels of short and medium-chain fatty acids. It is enhanced that these fatty acids are rapidly digested, provide quick energy for the body and are associated with various other health benefits. The launch of value-added products such as flavored milk varieties with low-sugar and fat-free content also fuels the market growth. Apart from this, governments of several countries are providing subsidies and incentives to promote goat farms. Furthermore, various technological innovations have helped extend the shelf life and improve the quality of goat milk products, which, in turn, are significantly influencing the market growth.

However, the major restraining factor due to the ability of small-scale farmers to market is the lack of market information and large distances to the marketplace. Moreover, the market faces certain challenges regarding food safety, government regulations, and logistics. Growing incidences of food safety scandals in the past few years are expected to restrain the growth of the goat milk market in the upcoming years.

Market Segmentation:

The milk held the highest market revenue share of xx% in the year 2021

Based on product type, milk contributed to the highest revenue share of more than xx% in 2021. Goat milk has high calcium content, which helps keep bones and teeth stronger. Goat milk has high nutritional properties in such a way that protein composition of goat milk also allows it to form a softer curd during digestion, which may assist with digestive health and comfort. Goat milk typically contains slightly less lactose, which may be recommended for those diagnosed with lactose intolerance. These factors are influenced regarding health benefits to the people, thus creating demand for goat milk in the upcoming years.

Based on the distribution channel, the specialty stores segment contributed to the highest revenue share of more than xx% in 2021 and is expected to register substantial growth over the forecast period. Consumers feel more comfortable choosing their products physically, especially dairy products. Consumers are very keen on the freshness and quality of dairy products. Specialty stores are retail stores focused on offering specific product categories anticipated to drive market growth. Specialty Stores for dairy products primarily sell dairy products such as milk, butter, cheese, yogurt, and ice cream. These shops also provide a great consumer experience with special features such as high-level customer service, premium offers, and special discounts.

Geographical Penetration:

North America is dominating the global goat milk market in the year 2021

North America is dominating the global goat milk market in 2021, with the U.S. occupying a dominant revenue contributor position in the region. The growing preference for dairy products with low lactose content is expected to drive the product demand. As per the U.S. Department of Health and Human Services, Lactose is the natural sugar found in milk and foods made with milk. Approximately 30 million to 50 million Americans are lactose-intolerant. Lactose intolerance is common, but it may be especially harmful to women, as it may raise a woman's risk for health problems such as osteoporosis. These factors drive the growth of the regional goat milk market.

The Asia Pacific market is expected to register the fastest growth during the forecast period, with China being the major revenue and India being the top country in goat milk production, contributing to the regional market growth. The increase in the use of goat milk as a therapeutic health food nutraceutical and the rise in demand for cheese in the fast-food industry has helped increase profitability. It is expected to boost the goat milk market growth further.

Competitive Landscape:

The goat milk market is moderately fragmented with regional and global players. Some key market players include Gay Lea Foods Co-operative Ltd., Emmi Group, Goat Partners International, Inc., Hay Dairies Pte Ltd., AVH Dairy Trade B.V., Ausnutria Dairy Corporation Ltd., Woolwich Dairy Inc., Redwood Hill Farm & Creamery, Granarolo S.p.A., and Meyenberg among others. The strategy for product launch, partnerships, mergers, and joint ventures has been the crucial approach behind developing these companies in the global market strategy. Goat milk companies focus on lactose-free goat milk products, particularly for lactose-intolerant consumers. For instance, in November 2021, Ausnutria Dairy Ingredients launched the brand CBM Goat Power. The brand products are of high nutritional quality and easy digestibility of goat milk. In May 2019, Switzerland’s largest dairy company, the Emmi Group, acquired a 66 percent stake in the Austrian organic goat and sheep milk processor Leeb Biomilch GmbH. Emmi is building on its position in this market. The acquisition also expands Emmi’s range of organic vegan products. In February 2021, Meyenberg, a producer of goat milk products, launched a line of milk alternative products for puppies and kittens under its newest brand Tailspring. The products are formulated to resemble the mother’s milk closely and are intended for nursing puppies and kittens who have been separated from their mother.

Covid-19 Impact: Positive impact on the global goat milk market

The COVID-19 pandemic has enormously impacted how consumers shop, eat and drink. Hotels and restaurant closures have contributed to a rise in the number of meals cooked and eaten at home, urging meaningful volume growth across dairy products such as butter and fluid milk. Demand for dairy products has stabilized at a higher level during the pandemic. Changes in consumers lifestyle has led to increasing focus on their health. This resulted in experimentation with new low-level fat dairy products and brands during COVID-19, thus driving the market growth. The pandemic has boosted the demand for goat milk, resulting in the rising consumption due to its immunity-boosting benefits.