rising popularity of goat milk in baby formula is driving the Goat Milk Powder Market
Technavio analyzes that the Goat Milk Powder Market is expected to grow at a CAGR of 14% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2006.4 million.There are various factors that contribute to the growth of the market. Goat milk powder is experiencing a surge in demand, particularly in the baby formula sector. The rising preference for goat milk over cow's milk is attributed to its easier digestibility and nutritional benefits. Goat milk contains fewer allergens than cow's milk, making it an ideal choice for infants with sensitivity to cow's milk protein. Additionally, goat milk powder is rich in essential vitamins, minerals, and nutrients, making it a popular alternative to traditional cow's milk-based formulas. This trend is expected to continue, fueling the growth of the goat milk powder market.
The global goat milk powder market experiences significant growth, with e-commerce and B2B channels complementing traditional distribution methods. Supermarkets and hypermarkets have become prominent distribution channels due to the expanding retail sector and the proliferation of retail outlets, particularly in emerging economies such as India, China, and Thailand. These establishments cater to the rising demand for ready-to-eat (RTE) goat milk powder products, providing consumers with a wide selection and the convenience of one-stop shopping. Competitive pricing strategies, such as discounted labels, further incentivize consumers to purchase RTE goat milk powder from these retailers. For instance, Reliance Retail aims to open over 1,000 stores in India by 2025, underscoring the market's potential in this sector. The health and wellness trend, coupled with the nutritional benefits associated with goat milk powder (full cream and skimmed milk), further bolsters market expansion.
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Goat Milk Powder Market Segmentation
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The Goat Milk Powder market encompasses various dairy products like cheese, butter, ice cream, yogurt, and Chevre, derived from goat milk. However, a goat feed shortage and transportation restrictions may impact production. E-commerce platforms and supermarkets/hypermarkets remain key sales channels. Goat Milk Powder offers nutritional benefits, including being suitable for those with lactose intolerance, A1 casein sensitivity, or seeking A2 casein. Its digestibility and health benefits appeal to health-conscious consumers, used in dairy products, nutritional supplements, and baking and confectionery. Delamere Dairy is a notable producer of Liquid Goat Milk and Goat Milk Powder.
The goat milk powder market is a segment of the larger packaged foods and meats industry, encompassing vendors engaged in the processing and packaging of goat milk for extended shelf life. According to Technavio, the global packaged foods and meats market size is determined by the consolidated revenue of the participating entities. This market scope excludes food processing equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. Factors fueling the growth of the global packaged foods and meats market include the health benefits linked to the consumption of minimally processed foods, such as goat milk, which are rich in essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Current market trends include the increasing popularity of goat milk-based products, such as cheese, butter, ice cream, yogurt, and Chevre, on e-commerce platforms. However, challenges like goat feed shortages and transportation restrictions may pose obstacles to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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