Liquid Milk Market Size, Share, Growth, and Industry Analysis, By Type (Whole Milk, Reduced-fat Milk (2%), Low-fat Milk (1%) & Fat-free Milk), By Application (Children, Adults & Old People) and Regional Forecast to 2032

Updated On: 02 September 2024

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LIQUID MILK MARKET REPORT OVERVIEW

The Global Liquid Milk Market Size was USD 7226.84 Billion in 2023 and the market is projected to touch USD 43710.24 Billion by 2032, exhibiting a CAGR of 19.72% during the forecast period.

Milk is a fluid food product that is procured from cows, goats, and other animals and widely consumed globally on account of its nutritional value, such as being a good source of calcium, protein, and vitamins A and D in the form of natural food. This milk plays an active and essential role in different human kitchen needs, such as drinking in its liquid form or as an active ingredient in almost all recipes, including baking and cooking products such as cakes, aside from being a source of nutrients for the human body, this milk aims to improve health benefits by adding certain nutrients to it, making it a standard product in most societies.

COVID-19 Impact: Market Growth Accelerated due to Increased Home Consumption

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.

When the COVID-19 pandemic struck the world, this market had the following opportunities. The trend towards home consumption and away from eating out also boosted take-home liquid milk as people cooked and ate home meals. This change focused on increasing sales in retail channels and increasing home deliveries. Furthermore, the health-conscious consumer much so took a batter to consuming foods with vitamins and minerals, which saw the intake of milk rise.

LATEST TRENDS

"Rising Sales of Plant-Based and Lactose-Free Milk Products to Propel the Market Growth"

The important trends that characterise the current state of this milk are the rising sales of plant-based and lactose-free milk products due to consumers’ concerns about their health and their eating habits. Consumers are also shifting their preference to get organic or sustainably produced milk amid growing concerns for the environment and other related concerns. Also, a tall order is being recorded for the fortified and functional milk products, which are formulated with other extra nutrients such as probiotics, omega-3 fatty acids, and vitamin-enriched products.

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LIQUID MILK MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Whole Milk, Reduced-fat Milk (2%), Low-fat Milk (1%) & Fat-free Milk

• "Whole milk": It is composed of about 3.25 percent fat and is appreciated for its intense taste and smooth and thick consistency, which is why it is more popular among those who are tired of the standard and want a denser taste and more calories. 
• "Reduced"-"fat Milk" (2%): Comes with only 2% fat; viewed by most consumers as a healthier take on whole milk but does not skimp on taste. 
• "Low"-"fat Milk" (1%): With only 1% fat, it addresses consumers who would prefer a very low-fat content in their dairy while still being a good source of nutrition as milk. 
• "Fat"-"free" "Milk": Primarily called skim milk, it has a figure of less than 0.5% fat, is preferred by concerned clients who want to avoid fats and calories, and balances protein with calcium.

By Application

Based on application the market can be categorized into Children, Adults & Old People

• "Children": Skilled people often use whole or low-fat milk because it provides more energy and nutrients for growth and development, and milk is known to provide calcium and vitamin D, hence strong bones and teeth. 
• "Adults": Choose lower-fat, less-fat/less or SKIM milk to balance calorie intake and ensure a proper weight is maintained; do not be swayed by the fact that fat in milk is good for you, highlighting the benefits of taking milk, such as the source of protein and importance of bone health. 
• "Old People": Older people should ideally use skim or 1% milk to eliminate the fat and cholesterol content; equally, they should use fortified milk products due to their need for calcium and vitamin D in the later years to avoid osteoporosis disease and improve bone density.

DRIVING FACTORS

"Health and Nutrition Awareness to Expand the Market"

One of the key driving factors of Liquid Milk Market growth is Health and Nutrition Awareness. Milk has a boosting calcium, protein, and vitamin content requirement, which raises customers’ awareness of the product. Individuals are more conscious of their meals and are looking for healthier foods and balanced diets; thus, milk is popular in households. 

"Convenience and Accessibility to Advance the Market"

The convenience factor, which is reflected in buyers’ accessibility through the various retail outlets such as supermarkets, online shops, and home delivery systems, is a bonus booster for this market. Other aspects, like improved packaging, such as increased shelf life and environmentally friendly packaging, also play a big role in increasing access to milk.

RESTRAINING FACTOR

"Shift to Non-Animal Milk Products to Pose Potential Impediments on this Market"

A tangible threat exerting a negative influence on the development of this market is the shift to non-animal milk products. Due to peer pressure and increasing awareness of vegan, lactose-free foods and environmental friendliness, the dairy milk option is under pressure from competitors such as almond, soy, oat, or coconut milk.

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LIQUID MILK MARKET REGIONAL INSIGHTS

"North America to Dominate the Market due to its Highly Developed Industry"

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

North America has emerged as the most dominant region in the Liquid Milk Market share owing to its highly developed industry in dairying, high rate per head of population, and considerable attention being paid to the development of new products in this field. There are technically improved and optimised methods of raising livestock and a proper and efficient supply chain system for cows’ feed, as well as massive support from the government to support the dairy farmers for adequate milk production. Moreover, there remains a cultural imitative across the North American population that prefers milk and other dairy products, hence the steady market.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Liquid Milk Market through Advertising"

Significant industrial buyers have a large influence on this market because of their many outlets, advertising, and constant product development. Because these companies produce in large quantities, they ensure a consistent supply and high quality of milk products. A primary part of their activities consists of branding and advertising that influence consumers and stimulate demand.

"List of Market Players Profiled"

• Arla Foods (Denmark)
• Land Olakes (U.S.)
• Unilever (U.K.)
• Saputo (U.S.)
• Savencia (France)

INDUSTRIAL DEVELOPMENT

"2024": With the change in consumers’ perceptions of health-conscious products, Amul's new product launch was the milk variant called Agneo, which contains vitamins A2 and D3. This suits consumers who desire something more as a complement to their ordinary milk.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Liquid Milk Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.