The Evaporated Goat Milk Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Evaporated Goat Milk Global Market Report 2024, The evaporated goat milk market size has grown steadily in recent years. It will grow from $5.75 billion in 2023 to $5.9 billion in 2024 at a compound annual growth rate (CAGR) of 2.6%. The growth in the historic period can be attributed to rise in health consciousness, culinary uses and recipes, alternative to cow’s milk, cultural preferences, dairy-free and vegan trends, nutritional benefits for children
The evaporated goat milk market size is expected to see steady growth in the next few years. It will grow to $6.63 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The growth in the forecast period can be attributed to functional and fortified varieties, global increase in goat milk production, rise in specialty diets, focus on local and artisanal products, government support for dairy alternatives. Major trends in the forecast period include product innovation and flavor variations, clean label and natural positioning, availability in retail channels, sustainability and ethical farming, allergen-friendly attributes, globalization of goat milk products.
The growing lactose-intolerant population is expected to propel the growth of the evaporated goat milk market going forward. Lactose intolerance is a condition in which a person’s body is unable to fully digest lactose, a sugar found in milk and dairy products, which is caused by a deficiency of lactase, the enzyme responsible for breaking down lactose in the small intestine. The lipid molecules in goat’s milk are smaller than those in cow’s milk, making goat’s milk easier to digest for persons with weak digestive systems such as lactose-intolerant. For instance, in 2023, according to the report published by World Population Review, a US-based Census Bureau’s world population, approximately 65% of the world’s population has lactose intolerant, where 70–100% of East Asians, 100% of Ghanaians, 100% of South Koreans, and 98% of Vietnamese shows the maximum lactose intolerant. Therefore, the growing lactose-intolerant population is driving the growth of the evaporated goat milk market.
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The evaporated goat milk market covered in this report is segmented –
1) By Type: Skimmed Evaporated Milk, Whole Evaporated Milk
2) By Application: Infant Food, Dairy Products, Bakeries, Confectionery, Other Applications
3) By Distribution Channel: Online, Offline
Product innovations are a key trend gaining popularity in the evaporated goat milk market. Major companies operating in evaporated goat milk are introducing unique products using evaporated goat milk. For instance, in February 2021, Meyenberg, a US-based producer of evaporated goat milk introduced goat milk products, a line of milk alternative products for puppies and kittens. The products are formulated to closely resemble the mother’s milk and are intended for nursing puppies and kittens who have been separated from their mother with goat milk as an alternative. Goat milk acts as a universal mother milk and is a suitable milk replacement for babies, adults with lactose digestion issues, and most domesticated animals. These goat milk products are fortified with necessary amino acids, lipids, carbs, and vitamins to encourage healthy development and overall health, which are available in liquid and powder forms.
The evaporated goat milk market report table of contents includes:
1. Executive Summary
2. Evaporated Goat Milk Market Characteristics
3. Evaporated Goat Milk Market Trends And Strategies
4. Evaporated Goat Milk Market – Macro Economic Scenario
5. Global Evaporated Goat Milk Market Size and Growth
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26. South America Evaporated Goat Milk Market
27. Brazil Evaporated Goat Milk Market
28. Middle East Evaporated Goat Milk Market
29. Africa Evaporated Goat Milk Market
30. Evaporated Goat Milk Market Competitive Landscape And Company Profiles
Top Major Players:
- Meyenberg Goat Milk
- Nestlé S.A
- Arla Foods
- Fraser and Neave Limited
- Royal FrieslandCampina N.V
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