The milk global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Milk Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to population growth and urbanization, nutritional awareness, changing dietary preferences, economic development, dairy industry development..
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 growth in the forecast period can be attributed to health and wellness trends, sustainable dairy practices, dietary shifts and plant-based alternatives, global food security, innovation in dairy products.. Major trends in the forecast period include data analytics and insights, remote work optimization, sustainability and esg considerations, agile and adaptive operations, cybersecurity integration..
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Scope Of Milk Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Milk Market Overview
Market Drivers –
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.
Market Trends –
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.
The milk market covered in this report is segmented –
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
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Regional Insights –
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
Key Companies –
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 .
Table of Contents
1. Executive Summary
2. Milk Market Report Structure
3. Milk Market Trends And Strategies
4. Milk Market – Macro Economic Scenario
5. Milk Market Size And Growth
…..
27. Milk Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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