Global Goat Milk Powder Market - Outlook and Forecast 2022-2027


Market Overview

The global goat milk powder market witnessed a value of USD 3.5 billion in 2021, and it is projected to reach USD 5.7 billion by 2027, growing at a CAGR of 8.45% from 2022 to 2027. Goat milk powder is produced by evaporating goat milk until it is completely dry. The primary purpose of drying the milk is to preserve it, as powdered milk has a longer shelf life compared to liquid or raw milk and does not require refrigeration. Goat milk powder retains all the nutritional benefits of goat milk. The increasing demand for goat milk powder in infant formula, due to its similarity to breast milk, is a key driver for the growth of the global goat milk powder market. Goat milk contains A2 casein, which is found in human breast milk and can be easily digested by newborns. Additionally, the smaller diameter of fat globules in goat milk enables faster absorption, up to 94%, in babies. The demand for goat milk products is rising globally due to the additional nutritional advantages over cow milk and other dairy alternatives.

The demand for goat milk powder is increasing due to its improved transportation efficiency compared to liquid milk and its longer shelf life. Powdered milk has an extended shelf life and does not require refrigeration due to its low moisture content.

Product Type

Market Report

No. of Pages

263

Release Date

August 2022

Base Year

2021

Forecast Period

2022-2027

Market Size

USD 3.5 billion in 2020

Market Segments

Product Type, Application, End Products, Distribution Channel, and Geography

Region

Global

No. of Companies Mentioned

28


Lactose malabsorption affects approximately 68% of the world’s population as of 2017. East Asian individuals have the highest rate of lactose intolerance, with 9 out of 10 people classified as lactose intolerant. Lactose malabsorption affects 64% of people in Asia, 47% in Eastern Europe, Russia, and the Soviet Republic, and 38% in Latin America. With such a high prevalence, goat milk can serve as a natural alternative to cow milk for those allergic to cow milk or who have lactose intolerance.

Goat cheese has emerged as a promising market. Unlike bovine cheese, which is difficult to digest and high in cholesterol and fat, goat cheese is easily digested and low in calories. Goat cheese also contains higher levels of vitamins, including vitamin A, B1, B2, B3, calcium, and phosphorus.

With the growth of the internet, online shopping has become popular for its convenience and cost-effectiveness. E-retail platforms offer easy options for purchasing various products, including goat milk products. Many people prefer online shopping due to its convenience and the availability of substantial discounts. Vendors who utilize e-commerce platforms have abundant opportunities to enhance their profits.


Market Segmentation

The market is segmented based on various factors, including product type, application, end products, distribution channel, and geography.

Segmentation by Product Type
Skimmed Goat Milk Powder
Full Cream Goat Milk Powder

Segmentation by Application
Infant
Teenager
Adult
Elder

Segmentation by End Products
Infant & Follow On Formula
Cheese, Dietary Supplements
Yoghurt
Chocolate
Others

Segmentation by Distribution Channel
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Medical & Pharmacy Stores
Online
Others

Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Netherland
APAC – China, India, South Korea, Australia & New Zealand
Latin America – Brazil, Mexico, Argentina
Middle East & Africa – Saudi Arabia, UAE

Skimmed Milk Powder emerges as the most popular variant of goat milk powder, contributing the highest revenue during the forecast period. This can be attributed to the increasing prevalence of obesity and high cholesterol levels worldwide due to shifting dietary habits. As a result, customers are becoming more health-conscious and inclined towards products that offer improved nutrition and lower fat content. Consequently, there has been a surge in demand for skimmed goat milk powder in recent years.

The full cream goat milk powder market is expected to experience rapid growth, driven by its extensive usage in infant formula and its cost-effective shipping and warehousing characteristics. However, the demand for whole cream goat milk powder is projected to witness the highest compound annual growth rate (CAGR) during the forecast period, owing to its widespread utilization in newborn nutritional formulas.

The adult consumer segment is anticipated to hold the largest market share, with teenagers exhibiting the highest CAGR during the forecasted period. Goat milk is especially recommended for newborns, seniors, and individuals in the process of recovery due to its potential health benefits.

Among end products, Infant & Follow on Formula accounted for the highest market share in 2021. Increasing awareness of the nutritional benefits and enhanced digestibility of goat milk has resulted in its adoption by consumers across various age groups worldwide. This, in turn, has fueled the demand for goat milk dietary supplements. Notably, goat cheese consumption is primarily associated with lactose intolerance. The United States stands out as the fastest-growing market for goat cheese, with new product launches featuring creative flavors and tastes becoming inevitable.

In 2021, hypermarkets and supermarkets held the largest market share, showing the highest CAGR during the forecasted period. Online retail is poised to witness the second-highest growth rate. With increased digitization and technology adoption across regions, leading suppliers of goat milk products are leveraging this opportunity to promote and sell their offerings through online distribution channels.

By capturing a 51.48% share in 2021, the Asia-Pacific (APAC) region emerged as the dominant market for goat milk powder, followed by Europe with a 21.96% share. APAC is expected to maintain its leading position in terms of revenue generation in the goat milk powder market until 2027, establishing itself as the largest market globally. During the forecast period, the APAC market is projected to grow at a CAGR of 9.96%. China, contributing over half of APAC’s market revenue in 2021, is anticipated to continue experiencing significant growth due to rising demand for goat milk-based newborn formulas. Western Europe represents a well-established market with a strong demand for goat milk products, particularly goat cheese.

In North America, the key drivers of goat milk consumption include rapidly evolving consumer preferences towards healthier alternatives, government-led educational campaigns, a growing population of lactose-intolerant individuals, and a well-developed retail environment that encourages the introduction of new products.


Competitive Landscape

The global goat milk powder market exhibits a high degree of fragmentation, as vendors engage in intense competition based on factors such as product quality, new product development, and competitive pricing. Consequently, customer preferences and choices vary across different locations and evolve over time due to regional, demographic, social trends, economic conditions, and marketing activities by competitors. Given the highly competitive and dynamic nature of the market, future growth primarily relies on the ability to anticipate, assess, and adapt to continuously changing market trends, as well as the timely introduction of new or improved products.

Although there are various foreign vendors and a few regional vendors present in the market, regional sellers face significant challenges in competing with multinational competitors, particularly in terms of quality and technology. Many market players are expanding their global presence, especially in the rapidly developing countries of the Asia-Pacific (APAC) region, with the aim of capturing a larger market share.

Key companies profiled in this report include Dairy Goat Co-operation (DGC), Business Overvie, Product Offerings, Key Strengths, Key Strategies, Key Opportunities, FIT Company, Goat Partners International, Meyenberg Goat Milk Products, Bai Yue Group, AVH dairy trade B.V., Ausnutria Dairy Corporation Ltd, Holle, Good Goat Milk Company, CapriLac, Shaanxi Redstar Meiling Dairy Co. Ltd, Shaanxi Guanshan Dairy Co. Ltd, Mt. Capra, Keytone Dairy Corporation Limited, Bubs Organic, Billy Goat Stuff, Zotter Company, Mast Brothers, Bend Soap Company, Goat Milk Stuff, Blue Ridge Soap Shed, Laloo’s Ice Cream, Seed + Mill.


Key Questions Answered

How large is the goat milk powder market?

The goat milk powder market was valued at USD 3,539 million in 2021 and is projected to reach USD 5,758 million by 2027, with a compound annual growth rate (CAGR) of 8.45% during the forecast period.

Which region will experience the highest growth rate in the goat milk powder industry?

The Asia-Pacific (APAC) region is expected to witness the highest growth rate during the forecast period.

Who are the key players in the goat milk powder market?

The key players in the goat milk powder market include Dairy Goat Co-operation (DGC), FIT Company, Goat Partners International, Meyenberg Goat Milk Products, and Bai Yue Group.

What factors are influencing the growth of the goat milk powder market?

The growth of the goat milk powder market is driven by factors such as the increasing population of health-conscious individuals, growing demand from emerging countries, and a rising number of mergers and acquisitions in the industry.

What strategies can vendors employ to sustain competition in the market?

Given that the market is already saturated, vendors can sustain competition by adopting inorganic growth strategies such as mergers and acquisitions, as well as by introducing innovative products into the market.

Original price was: USD 3,500.Current price is: USD 2,100.

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