Global Goat Milk Products Market – Focused Insights 2024-2029

MARKET INSIGHTS

The global goat milk products market was valued at USD 13.01 billion in 2023 and is projected to reach USD 20.75 billion by 2029, growing at a CAGR of 8.09% during the forecast period. The market is growing significantly due to the growing popularity of goat cheese, increasing demand for goat milk infant formula, technological advancements, rising government subsidies on goat farming, and higher nutritional benefits over other milk varieties. Goat cheese, yogurt, and ice cream are becoming increasingly popular as consumers seek high-quality, specialty, unique, and premium food products, thus helping the market to grow. There is a rising demand for nutritional and health benefits-based products, and goat milk is associated with health benefits such as higher nutrient content, improved digestion, and reduced allergies compared to cow milk. This has helped increase the demand for goat milk products across the globe.

KEY TAKEAWAYS

1. Market Growth: The global goat milk products market was valued at USD 13.01 billion in 2023 and is projected to reach USD 20.75 billion by 2029, growing at a CAGR of 8.09% during the forecast period.
2. By Product: The cheese segment occupied a major market share due to its nutritional properties over cow milk cheese.
3. By Consumer: The adult segment dominated the market share due to increased consumer demand for vitamins & proteins..
4. By Geography, Europe dominated the market, with a share of over 31% in the global goat milk products market.
5. Growth Opportunity: The global goat milk products market is set to grow, driven by the growing popularity of goat cheese and increasing demand for goat milk infant formula.

MARKET TRENDS

Growing Popularity of Goat Cheese

The growing popularity of goat cheese is a significant trend in the global goat milk products market. This is driven by several factors, including health benefits & dietary preferences, growing consumer awareness & demand, unique & distinct flavors, and expanding product range. Cheese is a traditional dairy product made from cow, sheep, and goat milk. Goat milk cheese is lower in calories and fat than many cow's milk cheese. Goat milk cheese is lower in calories and fat than many cow's milk cheese. It appeals to health-conscious consumers. Goat milk is easier to digest, and proteins are smaller. This can be an ideal option for individuals with intolerance. Goat cheese has emerged as the most promising market worldwide in the last decade. Goat cheese is easy to digest and low in calories. Goat cheese is also higher in vitamins, including vitamins A, B1, B2, and B3, as well as calcium and phosphorus. As goat cheese offers a variety of flavors, from tangy and sharp to creamy and mild, its demand is growing significantly across the globe.

Increasing Demand for Goat Milk Infant Formula

Demand for goat milk infant formula is rising significantly in the global market due to several factors, including perceived health benefits, nutritional profile, reduced allergenicity, and growing awareness of the potential benefits of goat milk. The infant formula is made using fresh goat milk as the primary ingredient. It is used to feed babies and infants. It's also known as goat milk formula and is made from goat milk powder. Infant formula is defined as a food that purports to be or is represented for special dietary use solely as a food for infants because it simulates human milk or suitability as a complete or partial substitute for human milk. Goat milk powder is used by the majority of newborn milk formula manufacturers, thus helping the market to grow.

MARKET DRIVERS

Higher Nutritional Benefits Over Other Milk Varieties

The higher nutritional benefits of goat milk over other milk varieties are a significant driver of goat milk products in the global market. Its advantages are easier digestibility, nutrient-rich, and lower allergenicity. Goat milk is high in digestible protein. Goat milk contains more protein per serving than cow, soy, or nut milk. Furthermore, goat milk protein looks more easily digested, implying that the consumer's body can utilize it more readily. Goat milk also has a higher protein content than almond or rice milk. Goat milk may not provoke milk allergies. Goat milk may assist patients with high blood cholesterol to lower their cholesterol levels. Goat milk helps lower cholesterol levels in the arteries and gallbladder. This may make it easier for persons with high cholesterol levels to manage their cholesterol. Goat milk is the most widely eaten dairy product in the world.

Growing Number of Health-Conscious Consumers

The growing number of health-conscious consumers is a significant driver in the global goat milk products market. This is due to perceived health benefits, the shift towards organic & natural food products, nutritional value, environmental considerations, and product range expansion. Goat milk is thought to be a good source of a variety of macro- and micronutrients. It has an excellent balance of protein, fat, carbs, and other nutrients, promoting nutritional and health advantages. Compared to other species of milk, goat milk has several health advantages and a lesser chance of allergy. Food is a physiological requirement for survival, and nutrition and health are connected with a feeling of well-being. Consumers are conscious while making food choices and consumption decisions to contribute to good health.

INDUSTRY RESTRAINTS

Rising Availability of Non-Dairy Milk or Plant-based Products

The rising availability of non-dairy or plant-based products is a major challenge in the global goat milk market. This is due to various factors, including increased competition, health & environmental concerns, consumer preference shifts, and plant-based product innovation. Non-dairy milk or plant-based milk, like almond, soy, oat, etc., is becoming more available. This increases the competition for consumer attention and shelf space. The rising number of consumers adopting flexitarian diets or vegan food focuses on choosing plant-based alternatives. As plant-based products have several health benefits (less saturated fat lower cholesterol), consumers seek such products. Rapid innovations in the plant-based products industry focus on offering a mimicry of the texture and taste of dairy. It may hinder the growth of goat milk products during the forecast period.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The global goat milk products market by product is segmented into cheese (chevre, mozzarella, cheddar, feta, and others), milk powder (whole and skimmed), packaged milk (whole and skimmed), UHT milk (whole and skimmed), and others. The cheese segment dominates with the largest market share of over 44%. The awareness about goat cheese is rising in the global market. Goat cheeses are also lower in fat and richer in vitamin A and potassium than cow's milk cheeses. Goat cheese is also recognized for its anti-inflation properties and for providing healthy fats. For many dieters, they are an excellent replacement. The Chevre cheese accounted for the largest market share based on the cheese segment. The demand for chevre cheese globally is due to several factors, including expanding culinary application, rising popularity of goat milk products, focus on health & wellness, and increasing awareness & accessibility. North America and Europe have well-established markets for chevre. Its demand is rising in the food service and retail sectors. Due to its unique flavor, its demand is rising gradually.

INSIGHTS BY CONSUMER

The global goat milk products market by consumer is categorized into adults and pediatrics. The adult segments accounted for the largest global goat milk product market share. The demand for goat milk is growing significantly due to several factors, including rising health consciousness, increased demand for vitamins & proteins from adults, increased demand for premium cheese, and rising popularity of cow milk over cow milk. Its demand is rising among adults as it contains protein and vitamins. Many older persons and their caretakers are concerned about their diet. As people age, natural changes in our bodies make it more difficult to get enough nutrients and absorb them. Goat dairy products offer qualities that can address these obstacles and lower the risk of older people becoming malnourished. Goat milk is also a good source of vitamin A, and getting enough vitamin A can help lower the risk of cataracts and some types of cancer in adults, thus helping segmental growth.

INSIGHTS BY DISTRIBUTION CHANNEL

Based on the distribution channel, the grocery stores, wholesalers, dealers show significant growth, with the fastest-growing CAGR of 9.17% of the global goat milk products market during the forecast period. Grocery stores play a crucial role in this market by offering consumers convenient access to goat milk products. These shops across the city are another key distribution source for the market's sellers. Customers, particularly in emerging countries and economies, prefer to buy goods from these tiny retail outlets rather than traveling to supermarkets and hypermarkets because of their convenience and proximity to their homes. Grocery stores are expanding their goat milk products offering, including cheeses, yogurts, ice creams, and many other products. It caters to diverse consumer needs and preferences. Consumers are increasingly focusing on healthier food choices that can offer more nutritional benefits, driving the demand for goat milk products from this segment during the forecast period.

GEOGRAPHY ANALYSIS

Europe accounted for the largest share of over 31% of the global goat milk products market. Europe, particularly France, has the best-organized goat milk market in the world. Germany and France controlled the European goat cheese industry. The majority of goat milk in Europe is processed into cheese by huge dairy companies that coexist alongside small local businesses and artisanal farm dairies. Pure goat milk cheeses are made mostly in France, whereas mixed cheeses containing cow and sheep milk are made in Spain and Greece. In addition to cheese, pasteurized goat milk for direct consumption and powdered goat milk for newborn formulae have seen a surge in demand. The organic dairy business is expanding in Europe, and goat farmers are expanding their offerings to include cheese, various types of milk, and yogurt.

COMPETITIVE LANDSCAPE

The global goat milk products market report includes exclusive data on 39 vendors. The market is highly fragmented, with suppliers competing on product quality, innovative product development, and competitive prices. The competitive scenario in the global goat milk products market is dynamic, with a mix of global and domestic players offering a diverse range of products. New players face significant entrance hurdles due to high financial needs and quick technological advancements. To capture greater market share, several players are projected to extend their presence globally throughout the projection period, particularly in the fast-developing nations of the APAC region. Price, availability, nutrition, organic, natural, and GMO certification are all aspects that players compete on. Major players are Ausnutria Dairy Corporation Ltd, Dairy Goat Co-operation, Darey Brands, Inc., Emmi Group, FIT Company, Goat Partners International, Holle Baby Food AG, Stickney Hill Dairy Inc., The Kraft Heinz Company, and Xi'an Baiyue Goat Dairy Group Co.Ltd.