Goat Milk Products Market To Generate Revenue Worth $13,217.2 Million by 2030
- Published: May 2022
The goat milk products market generated a revenue of $8,672.9 million in 2021, and the market size will advance at a CAGR of 4.8% during the forecast period, to reach $13,217.2 million by 2030. This can be ascribed to the rise in the population of health-conscious consumers and government subsidies for goat farming.
Another major factor that drives the industry is the technological advancement in this field. The quality of goat dairy products, along with their shelf lives, is improving because of the technological innovations in dairy processing equipment. Additionally, improvements in chillers and cold chain logistics for products like yogurt and fresh milk have increased their availability and improved product freshness, which, in turn, boosted their demand.
Moreover, the population of people with lactose intolerance is increasing, which results in the surging need for cow milk alternatives, especially in APAC markets. Goat milk has a lower lactose level than cow milk and is considered easier to digest. Also, it is considered less allergenic than cow milk. Thus, consumers are seeking dairy alternatives, such as goat milk products, which, in turn, is driving the market growth.
Increasing Demand for Goat Milk Products Among Teenagers
Teenage is a time of rapid body growth and teenagers need extra nutrients to support hormonal changes, bone growth, and tissue and organ development, including the brain. The much-needed nutrients for teenagers are calcium and iron. Goat milk is becoming increasingly popular across the world for teenagers, as it has high nutrients and several health advantages.
Moreover, many teenagers are lactose intolerance where the body is unable to handle or digest lactose, a sugar present in milk and other dairy products. For instance, more than 3% of children have a cow milk allergy, which can cause digestive issues and skin problems. Goat milk has the same or even more nutritional value as cow milk, and it does not induce allergic reactions similar to lactose intolerance caused by cow milk, such as eczema, asthma, digestive issues, and catarrh. Thus, the demand for goat milk products is increasing among teenagers across the globe.
Online sales of goat milk products are expected to grow at a significant rate as digital transformation accelerates. People have begun to move toward digital transformation with the increasing adoption of smartphones and gadgets combined with the surging penetration of the internet. Due to this, consumers now have easy access to a wide range of products from a variety of brands at lower prices, all at their fingertips, making them smarter and wiser in their product decision.
Some of the major players in the goat milk products market include Ausnutria Dairy Co. Ltd., Meyenberg Goat Milk, AVH Dairy Trade B.V., Dairy Goat Co-operative (N.Z.) Limited, Stickney Hill Dairy Inc., Goat Partners International, Redwood Hill Farm & Creamery, Granarolo S.p.A., Xi'an Baiyue Goat Dairy Group Co. Ltd., St Helen’s Farm, Bai Yue Group, and Woolwich Dairy Inc.