NEW YORK– A latest report titled “Goat Milk Market by Product and Geography – Forecast and Analysis 2022-2026”, the market will witness a YOY growth of 3.91% in 2022, at a CAGR of 4.81% during the forecast period. The report is segmented by product and geography (APAC, Europe, North America, MEA, and South America).
Vendor Insights
The goat milk market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market. Companies are engaging in launching innovative products to stay up in the market. For instance, Baiyue Goat Milk Group Co. Ltd. offers goat milk products like Yubao Goat Milk.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Baiyue Goat Milk Group Co. Ltd. Dairy Goat Co-Operative Ltd. Delamere Dairy Ltd. Emmi Group Hay Dairies Pte Ltd. Ice House Farm Meyenberg Goat Milk Products St Helen’s Farm Ltd. Summerhill Goat Dairy Unica Global BV
Geographical Market Analysis
APAC was the largest revenue-generating regional segment of the goat milk market. 52% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for goat milk in APAC.
Market growth in this region will be faster than the growth of the market in other regions. In addition, North America is another country with a potential market. The significant increase in the demand for goat milk owing to the awareness about its health benefits will facilitate the goat milk market growth in North America over the forecast period.
Furthermore, countries such as the US, France, and Spain are expected to emerge as prominent markets for goat milk market’s growth during the forecast period.
Key Segment Analysis
The fresh goat milk product segment led the market in 2021. The segment is anticipated to account for the largest share during the forecast period mainly due to The significant increase in the demand for fresh goat milk owing to its multiple benefits such as it helps to reduce bad cholesterol and increases good cholesterol, has low lactose or milk sugar, and others.
Key Market Trend & Challenge:
The rising demand for lactose-free and lower lactose products is one of the key factors influencing the market’s growth during the forecast period. The number of lactose-intolerant individuals is increasing in European countries like Italy, Germany, Spain, Turkey, Poland, France, the UK, and others. With an increase in the number of lactose-intolerant people, the demand for lactose-free products or products with low lactose content will increase at a fast pace, which will drive the growth of the global goat milk market during the forecast period.
However, product recalls are emerging as one of the key challenges likely to limit the market’s growth during the forecast period. Improper handling of the raw materials or supplies can adversely affect the safety and quality of the finished products. Thus, sometimes, companies recall their own manufactured products realizing the defect. This severely affects the brand image of a company along with its operation and sales. For instance, in December 2021, the UK-based St Helen’s Farm recalled its goat butter products due to the presence of metal in these products.
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