Milk Global Market Report 2024

Description

“Milk Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on milk market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for milk? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The milk market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product: Skimmed Milk Powder; Liquid Milk; Whey Protein; Butter; Infant Nutrition; Other Products
2) By Animal sources: Cows; Sheep; Buffalo; Goats; Other Sources
3) By Distribution: Convenience Stores; Supermarkets And Hypermarkets; Online; Other Distribution Channels
Companies Mentioned: Danone SA; Arla Foods Amba; China Mengniu Dairy Company Limited; Kraft Foods Group Inc.; Land O'Lakes Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Milk is characterized as an emulsion of protein and fat in water, produced by various mammals. The milk obtained from domesticated animals serves as a crucial food source for humans, providing essential nourishment.

The primary product types within the category of milk include skimmed milk powder, liquid milk, whey protein, butter, infant nutrition, and others. Skim milk specifically refers to milk from which the milk fat has been removed, containing less than 0.15% fat. Various animal sources contribute to milk production, including cows, sheep, buffalo, goats, and other species. Distribution occurs through diverse channels such as convenience stores, supermarkets, hypermarkets, online platforms, and others.

The milk market research report is one of a series of new reports from The Business Research Company that provides milk market statistics, including milk industry global market size, regional shares, competitors with a milk market share, detailed milk market segments, market trends, and opportunities, and any further data you may need to thrive in the milk industry. This milk market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The milk market size has grown strongly in recent years. It will grow from $794.96 billion in 2023 to $863.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The historical period's growth can be attributed to several factors, including population growth and urbanization, increased awareness of nutrition, changing dietary preferences, economic development, and the development of the dairy industry.

The milk market size is expected to see strong growth in the next few years. It will grow to $1181.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be linked to various factors, including health and wellness trends, the adoption of sustainable dairy practices, shifts in dietary preferences towards plant-based alternatives, global food security concerns, and ongoing innovation in dairy products. Prominent trends in the forecast period encompass the utilization of data analytics and insights, optimization of remote work practices, considerations for sustainability and environmental, social, and governance (ESG) factors, the implementation of agile and adaptive operations, and the integration of cybersecurity measures.

The increasing demand for dairy products is expected to drive the growth of the milk market in the foreseeable future. Dairy products, encompassing items such as butter, cheese, ice cream, yogurt, and condensed and dried milk, rely on milk as their primary ingredient. The growing consumer preference for these dairy products contributes to an increased demand for milk. For instance, data from the New Zealand-based government data agency, NZ Tauranga Aotearoa, reported a combined export value of milk powder, butter, and cheese at $18.8 billion in September 2022, marking a 17% increase or $2.8 billion from July 2021. Therefore, the surging demand for dairy products is a driving factor for the growth of the milk market.

The rising number of individuals adopting a vegan lifestyle is expected to foster the growth of the milk market. Vegans adhere to a diet that excludes not only meat but also all other animal-derived products. The benefits of milk substitutes for vegans, such as improved health, nutrition, and environmental sustainability, make them a viable option for those following a vegan lifestyle. As of December 2021, redefine meat, an Israel-based technology company, estimated that approximately 79 million people worldwide, slightly over 1% of the total population, identified as vegans. Hence, the increasing vegan population is propelling the growth of the milk market.

Technological innovations emerge as a prominent trend in the milk market, with major companies focusing on integrating new technology to enhance the quality and safety of milk, thereby reinforcing their market positions. For example, in March 2023, Everest Instruments, an India-based provider of dairy technology solutions, introduced the Fatscan Milk Analyzer. This innovative technology enables a precise and efficient analysis of milk quality, measuring parameters such as % of fat, SNF (solids-not-fat), added water, density, protein, and lactose in less than 30 seconds.

Major companies operating in the milk market are concentrating on introducing innovative products, such as Silk Nextmilk, to drive revenues. Silk Nextmilk, a plant-based milk product catering to dairy-milk consumers, offers both whole fat and reduced fat variations, providing vegans with a practical and sustainable alternative. For instance, in January 2022, DanoneWave LLC, a France-based food-products corporation, launched Silk Nextmilk. This product, specifically designed for dairy lovers, contains six essential dairy nutrients-calcium, vitamin D, vitamin A, vitamin B12, riboflavin, and phosphorus-along with four grams of plant-based protein per serving. The product is non-GMO Project Verified, lactose-free, and has 30% fewer calories than dairy milk, aiming to offer dairy consumers a plant-based option with a similar taste and texture.

In August 2022, Royal A-ware, a Netherlands-based cheese producer, acquired Olympia Dairy for an undisclosed amount. This strategic acquisition complements Royal A-ware's operations in Belgium and reinforces its potential for future growth. Olympia Dairy, a Belgium-based producer of milk, milk concentrate, and other dairy products, is now part of Royal A-ware's portfolio.

Major companies operating in the milk market report are Danone SA, Arla Foods Amba, China Mengniu Dairy Company Limited, Kraft Foods Group Inc., Land O'Lakes Inc., Meiji Holdings Co. Ltd., Almarai Company, Royal Friesland Campina NV, Armor Proteines SAS, Dairy Farmers of America Inc., Fonterra Co-operative Group Ltd., Foremost Farms USA Cooperative, Glanbia plc, Groupe Lactalis SA, Gujarat Cooperative Milk Marketing Federation, Hangzhou Wahaha Group Co. Ltd., HP Hood LLC, Inner Mongolia Yili Industrial Group Co. Ltd., Kerry Group plc, Nestle SA, Lactalis Group SA, Fonterra Co-operative Group Limited, Saputo Inc., Dairy Farmers of Canada, Dairy Farmers of Ontario, California Dairies Inc., Agropur Cooperative, Anand Milk Union Limited .

Asia-Pacific was the largest region in the milk market in 2023. The regions covered in the milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the milk market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The milk market consists of sales of full-fat, toned, and mixed milk. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11150

1. Executive Summary

2. Milk Market Characteristics

3. Milk Market Trends And Strategies

4. Milk Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Milk Market Size and Growth

5.1. Global Milk Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Milk Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Milk Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Milk Market Segmentation

6.1. Global Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Skimmed Milk Powder
Liquid Milk
Whey Protein
Butter
Infant Nutrition
Other Products
6.2. Global Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cows
Sheep
Buffalo
Goats
Other Sources
6.3. Global Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Convenience Stores
Supermarkets And Hypermarkets
Online
Other Distribution Channels

7. Milk Market Regional And Country Analysis

7.1. Global Milk Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Milk Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Milk Market

8.1. Asia-Pacific Milk Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Milk Market

9.1. China Milk Market Overview
9.2. China Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Milk Market

10.1. India Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Milk Market

11.1. Japan Milk Market Overview
11.2. Japan Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Milk Market

12.1. Australia Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Milk Market

13.1. Indonesia Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Milk Market

14.1. South Korea Milk Market Overview
14.2. South Korea Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Milk Market

15.1. Western Europe Milk Market Overview
15.2. Western Europe Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Milk Market

16.1. UK Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Milk Market

17.1. Germany Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Milk Market

18.1. France Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Milk Market

19.1. Italy Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Milk Market

20.1. Spain Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Milk Market

21.1. Eastern Europe Milk Market Overview
21.2. Eastern Europe Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Milk Market

22.1. Russia Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Milk Market

23.1. North America Milk Market Overview
23.2. North America Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Milk Market

24.1. USA Milk Market Overview
24.2. USA Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Milk Market

25.1. Canada Milk Market Overview
25.2. Canada Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Milk Market

26.1. South America Milk Market Overview
26.2. South America Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Milk Market

27.1. Brazil Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Milk Market

28.1. Middle East Milk Market Overview
28.2. Middle East Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Milk Market

29.1. Africa Milk Market Overview
29.2. Africa Milk Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Milk Market, Segmentation By Animal sources, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Milk Market, Segmentation By Distribution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Milk Market Competitive Landscape And Company Profiles

30.1. Milk Market Competitive Landscape
30.2. Milk Market Company Profiles
- 30.2.1. Danone SA
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Arla Foods Amba
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. China Mengniu Dairy Company Limited
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Kraft Foods Group Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Land O'Lakes Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Milk Market Competitive Benchmarking

32. Global Milk Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Milk Market

34. Milk Market Future Outlook and Potential Analysis

34.1 Milk Market In 2028 - Countries Offering Most New Opportunities
34.2 Milk Market In 2028 - Segments Offering Most New Opportunities
34.3 Milk Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer