Goat Milk Market Size, Share, Growth, and Industry Analysis, By Type (Goat Milk & No Fat Goat Milk), By Application (Food, Cosmetics & Other) and Regional Forecast to 2032.

Updated On: 10 September 2024

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GOAT MILK MARKET REPORT OVERVIEW

The global Goat Milk Market size was USD 6.8 billion, and the market is projected to touch USD 9.18 billion, exhibiting a CAGR of 3.0% during the forecast period.

The growing demand for goat milk is fueled by increasing consumer awareness of the nutritional benefits of goat milk, its high content in vitamins and minerals, and ease of digestion compared to cow's milk. In particular, demand comes from the front of health-oriented consumers, lactose-intolerant people, and parents looking for alternative dairy products to feed their children. It is also increasing due to the rise in demand for cheese, yogurt, and baby formula, products based on goat milk. Another major growth factor is the increasing trend toward organic and natural products, as this is making producers supply more organic goat milk and boost the market.

COVID-19 Impact: Market Growth Restrained by Pandemic Due to Interest in Health and Wellness Products

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

While the in-reality effect of COVID-19 on the goat milk market was above any expectations, there was further spur in the interest in health and wellness products. The pandemic paved the way for a surge in demand because consumers were keener on their health immunity than ever before, prompting them to explore alternative dairy options in their diet. Further, supply chain disruption caused an issue in availability; however, overall, the increased consumer interest in healthy, naturally fortified products drove the goat milk market to achieve growth beyond expectation.

LATEST TRENDS

"The Increasing Demand for Organic and Specialty Dairy Products to Drive Market Growth"

Health-conscious consumers are actively looking for free synthetic additives and hormones, hence increasing the demand for organic goat milk products. The interest of processing high-end or specialty goat milk products, including gourmet cheeses and yogurts, has been increasing because these products are usually seen as premium and healthier compared to normal dairy. An increasing niche focuses on lactose-intolerant people who are searching for easy-to-digest dairy products, with goat milk being front and center.

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GOAT MILK MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Goat Milk & No Fat Goat Milk.

• Goat Milk: This is made from whole goat milk containing the full complement of natural milk fat taken from the animal. The milk is an excellent source of both calcium and potassium, vitamins A and D, and is generally considered ideal milk supplementation. Its creamy nature and rather mild flavor make whole goat milk widely in use by most dairy product manufacturers for cheese, yogurt, and butter production.
• No Fat Goat Milk: This is also known as skimmed or fat-free goat milk. This segment would thus appeal to the health-conscious market that desires lower levels of fats in their milk consumption. No-Fat Goat Milk: All the benefits one expects to get from goat's milk, such as light digestion and high content of minerals, are there in no-fat goat milk; without the fat, it becomes fit for those who keep a check on the intake of fat or need a light option in their diet. This form of goat milk is used much in beverages, cooking, and baking purposes.

By Application

Based on application the global market can be categorized into Food, Cosmetics & Other.

• Foods: This sector uses goat milk for some food products—beverages, dairy products such as cheese and butter, and yogurt. Added as an ingredient, this milk in cooking and baking also applies to the same. With its high nutrition value and easy digestibility, goat milk does make a great appeal to health-conscious and lactose-intolerant customers and people seeking dairy alternatives. The food sector will become the biggest application area driven by the rise in consumer demand for natural and healthy ingredients.
• Cosmetics: Goat milk is one of the most common cosmetic ingredients used because of its fine moisturizing and nourishing properties. Therefore, goat milk enriches many skincare products, as it contains exceptionally good content of vitamins, minerals, and fatty acids in soaps, lotions, creams, etc. It has also gained a great reputation for its so847ing and emollient properties on the skin and, therefore, finds a very prominent place in the composition of natural and organic cosmetics formulation. Increasingly, consumer interest in clean beauty and sustainable beauty products raises this segment's growth.

DRIVING FACTORS

"Raising Awareness About the Health Benefits to Boost the Market"

Increasing awareness about greater health benefits and higher digestibility compared to cow milk is contributing to goat milk market growth. Goat milk is rich in calcium, proteins, and vitamins, but it has smaller-sized fat globules with lesser content of lactose, making it easily digestible. This makes it quite appealing to those who have a sensitive stomach, are lactose intolerant, or really to anybody who wants a more natural and more nutrient-dense alternative to traditional dairy. Second, increasing demand for organic and clean label products further supports goat milk as perceived to be a healthier and more sustainable option. Another major factor projected to boost the goat milk market during the next few years is an interest in well-being and organic foods.

"Increasing Disposable Income to Expand the Market"

 With an increase in disposable income among its consumers and growth in health consciousness, has made the goat milk market set to rise. With increasing disposable income and growing health consciousness, this region is witnessing an increased interest in premium and uniquely derived food items, including goat milk and its products. This has further increased the demand for the increasingly versatile goat milk, used to produce several kinds of produce such as artisanal cheeses, yogurts, and formulas for infants. Other than increasing awareness about health benefits of goat milk and being very common in various varieties of cultural foods, this creates a new market for the goat milk products and increases in globalization. That is supported by producer's efforts, which further promote goat milk products as premium, healthy, and sustainable alternatives to traditional dairy, thereby growing the market.

RESTRAINING FACTORS

"Higher Production Cost of Goat Milk Compared to Cow's Milk to Potentially Impede Market Growth"

Goat milk is generally more expensive to produce due to lower milk yields per animal, higher feed costs, and more labor-intensive farming practices. This can result in higher prices for the goat milk product, which would discourage a cost-sensitive consumer, especially in markets where cow milk is relatively cheap and plentiful. Adding to that, the small scale of goat farming operations in most countries will limit its supply, which makes it very hard to respond to rising demand. These, coupled with the niche status of goat milk in large parts of the world, make widespread adoption difficult and hence could slow the growth of the market.

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GOAT MILK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

"Europe to Dominate the market due to cultural tradition of goat rearing and dietary practices of dairy derived products"

Europe dominates the goat milk market share, and this is supported by the great tradition of goat rearing and dairy production in countries such as France, Spain, and Greece. With a long history of consuming goat milk and goat milk-derived products like cheese, yogurt, and butter, central to many of the world's cuisines that come from Europe, the region holds a potential market for the same. Furthermore, European consumers are very conscious of the fact that goat milk forms a healthy diet, thereby increasing demand even more. Besides, in Europe, there exist many small and artisan producers dealing with high-quality, organic, and specialty products elaborated with goat milk targeting the trends of natural and premium foods. The combination of cultural preference, advanced farming practices, and a well-developed dairy industry has made Europe a lead region in the global goat milk market.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

Several key market players in the goat milk market are pushing the industry toward growth through continuous innovations and strategic market expansions. Companies like Meyenberg Goat Milk Products, Delamere Dairy, St Helen's Farm, and Ausnutria Dairy are, at the top of the list, offering a new product range to cater to the rapidly growing demand for health-oriented and premium dairy alternatives. These companies are focusing on research and development processes for upgrading the nutritional profile and shelf-life of goat milk products, with exploration into new applications including infant formula and specialized nutrition.

In addition to product innovation, these companies expand their market capabilities by entering new geographical regions, entering into strategic partnerships with local distributors, and retailers. This includes companies like the previously mentioned Ausnutria Dairy that is actively expanding in Asia, which is becoming a rapidly developing market.

List of Market Players Profiled

• Delamere Dairy (UK)
• Emmi Group (Switzerland)
• Gay Lea Foods (Canada)
• Granarolo (Italy)
• Groupe Lactalis (France)
• Hay Dairies (Singapore)
• KAVLI (Norway)
• SUMMERHILL GOAT DAIRY (Canada)

INDUSTRIAL DEVELOPMENT

April 2023:The goat milk market also recorded high growth at an industrial level, where Delamere Dairy announced the expansion of its production facilities in the United Kingdom to meet the growing global demand for goat milk products. In line with the same, Emmi Group introduced a new range of organic goat milk yogurts into European markets in June 2023 to leverage the rising consumption trend toward healthy and natural dairy alternatives. In August 2023, Groupe Lactalis invested in processing technologies that would enhance shelf life and nutritional values to gain better positioning in the emerging markets of Asia and Africa. Moreover, the further steps in September 2023 were officialized, which meant formalizing partnerships between leading companies like Granarolo and local goat farms to guarantee that sourcing is sustainable and benefits the local economy. Already evidence of the tendency by key players in the industry to change toward a more socially responsible production pattern.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.