Dublin, Nov. 02, 2023 (GLOBE NEWSWIRE) -- The "Global Goat Milk Product Market Overview, 2023-28" report has been added to ResearchAndMarkets.com's offering.
The global Goat Milk Product market, valued at $12.50 billion in 2022, is poised for substantial growth, with projections indicating it will exceed $18.93 billion by 2028, representing a CAGR of 7.31% from 2023-28.
Growing Health and Wellness Awareness Fuels Demand for Goat Milk Products
Increasing consumer awareness and interest in health and wellness have catalyzed the demand for alternative dairy products, with goat milk products gaining prominence. Goat milk is perceived as a healthier option due to its easier digestibility, lower lactose content, and unique nutritional composition. The prevalence of lactose intolerance and cow's milk allergies further fuels the demand for goat milk as a dairy alternative.
Rising Demand for Natural and Organic Products
Consumer preference for clean label and organic options has driven the demand for natural and organic goat milk products. Goat milk is viewed as a less processed and more natural alternative to cow's milk, aligning with the growing preference for such products.
Expansion of Vegan and Plant-based Diets
The increasing adoption of vegan and plant-based diets has expanded the market for non-dairy alternatives, including goat milk products. Goat milk-based products, like plant-based cheeses and milk alternatives, cater to the growing demand from vegan and plant-based consumers.
Regional Insights: Asia Pacific and South America Lead
- Asia Pacific: The Asia Pacific region emerged as the largest market in 2022, driven by a significant population and the evolving dietary habits of consumers. Increasing disposable incomes and the rise of the middle-class population have led to a growing preference for healthier dairy options, including goat milk products. The region also benefits from a diverse consumer base, including tourists and expatriates, which has created a niche market for goat milk products in hotels, restaurants, and specialty food stores.
- South America: South America has witnessed a surge in the demand for alternative dairy products, particularly goat milk. The region's consumers appreciate goat milk products for their unique taste, potential health benefits, and culinary versatility. Goat milk is even used to create delicious goat milk ice cream, known as "helado de cabra," which is popular for its creamy texture and distinct flavor.
Culinary Versatility of Goat Cheese
Goat cheese is highly regarded for its culinary versatility, offering a wide range of flavor profiles, from mild and creamy to tangy and pungent. This versatility allows goat cheese to be used in various culinary applications, including salads, sandwiches, pastas, pizzas, and desserts. The wide range of goat cheese options caters to diverse consumer preferences, making it a popular choice among cheese connoisseurs and food enthusiasts.
Emerging Segment: Others - Goat Milk Products
The "Others" segment, which includes goat milk products like ice cream and cajeta (a caramel sauce made from goat milk), is expected to exhibit the highest CAGR in the global goat milk product market. These products offer unique flavor profiles and taste experiences, appealing to consumers seeking new culinary delights. Goat milk-based ice cream and other "Others" products cater to health-conscious consumers looking for indulgent yet healthier dessert options.
Distribution Channels: Hypermarkets, Supermarkets, and Online
- Hypermarkets and Supermarkets: These major distribution channels offer a wide variety of goat milk products, including goat milk, goat cheese, and derivatives. They provide convenience, one-stop shopping experiences, and platforms for both mass-market and specialty brands.
- Online: The online distribution channel has experienced significant growth, offering consumers a convenient way to purchase goat milk products, wider product choices, and access to producers. This channel facilitates direct interaction between producers and consumers, enhancing brand visibility and customer engagement.
Recent Developments in the Market
- In April 2022, CRM (Canada Royal Milk) announced a strategic partnership with ODGC (Ontario Goat Dairy Cooperative) and PLCQ (Producteurs de lait de chevre du Quebec), accounting for around 120 goat dairy farms.
- In June 2022, Atalanta introduced unique cheddar cheese made with Canadian goat milk.
- In March 2021, Hochdorf launched goat milk-based infant formula under the Bimbosan brand, catering to health-conscious consumers.
Key Players in the Market
Notable companies in the global goat milk product market include Granarolo S.P.A, Emmi AG, Ausnutria Operations B.V, Royal FrieslandCampina N.V, Saputo Inc, Delamere Dairy, HiPP GmbH & Co. Vertrieb KG, Arla Foods amba, Danone S.A., and Holle baby food GmbH.
This comprehensive report covers the global Goat Milk Product market, offering insights into its value, forecast, segments, regional analysis, drivers, challenges, trends, and top profiled companies.
Regions Covered:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Segments:
- Goat Cheese (Fresh, Aged, Flavored, Others)
- Goat Milk Powder (Skimmed, Full Cream)
- Goat Yogurt (Set-style, Swiss-style)
- Butter
- Others (Ice cream, Cajeta)
Forms:
- Liquid
- Solid
Distribution Channels:
- Hypermarket & Supermarket
- Convenience Stores
- Specialty Stores
- Online
- Others (Pharmacy Store, B2B)
Report Details:
- Geography: Global
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
For more information about this report visit https://www.researchandmarkets.com/r/csxkfo
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