Milk Global Market Report 2023
Major players in the milk market are Danone SA, Arla Foods AMBA, Mengniu Dairy Company Limited, Kraft Foods Group Inc., Land O’Lakes Inc., Meiji Co Ltd., Almarai Company, Royal Friesland Campina N.V, Armor Proteines SAS, Dairy Farmers of America, Fonterra Co-operative Group Ltd.
New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Milk Global Market Report 2023" - https://www.reportlinker.com/p06464114/?utm_source=GNW
, Foremost Farms USA, Glanbia PLC., Groupe Lactalis SA, Gujarat Cooperative Milk Marketing Federation (AMUL), Hangzhou Wahaha Group Co. Ltd., HP Hood LLC, Inner Mongolia Yili Industrial Group Co. Ltd., and Kerry Group PLC.
The global milk market is expected to grow from $728.27 billion in 2022 to $805.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The milk market is expected to reach $1,129.45 billion in 2027 at a CAGR of 8.8%.
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.
Milk refers to an emulsion of protein and fat in water produced by various mammals. The milk obtained from domesticated animals is used as an essential food source by humans for nourishment.
Asia-Pacific was the largest region in the milk market in 2022. The regions covered in the milk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of milk are skimmed milk powder, liquid milk, whey protein, butter, infant nutrition, and others. Skim milk refers to the milk in which the milk fat has been removed, it has less than 0.15% fat contained in it. The various animal sources include cows, sheep, buffalo, goats, and other sources. These are distributed through various distribution channels such as convenience stores, supermarkets and hypermarkets, online, and others.
The growing demand for dairy products is expected to propel the growth of the milk market going forward.Dairy products refer to milk-based foods such as butter, cheese, ice cream, yogurt, and condensed and dried milk.
Milk is a primary source for producing various dairy products and providing nutrition, as a result, the growing demand for dairy products increases the demand for milk. For instance, in September 2022, according to the NZ Tauranga Aotearoa, a New Zealand-based government data agency, New Zealand reported a combined export value of milk powder, butter, and cheese of $18.8 billion, an increase of 17% or $2.8 billion from July 2021. Therefore, the growing demand for dairy products drives the growth of the milk market.
Technological innovations are a key trend gaining popularity in the milk market.Major companies in the milk sector are focused on incorporating new technology in operations to enhance the quality and safety of milk and strengthen their market position.
For instance, in March 2023, Everest Instruments, an India-based provider of dairy technology solutions, introduced the Fatscan Milk Analyzer, which implements cutting-edge technology to provide a precise and effective analysis of milk quality. The technology can measure the % of fat, SNF (solids-not-fat), added water, density, protein, and lactose in less than 30 seconds.
In August 2022, Royal A-ware, a Netherlands-based cheese producer acquired Olympia Dairy for an undisclosed amount.This acquisition complements Royal A-ware’s activities in Belgium and also strengthens its future growth.
Olympia Dairy is a Belgium-based producer of milk, milk concentrate, and other dairy products.
The countries covered in the milk market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The milk market research report is one of a series of new reports 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.
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