Goat Milk Formula Market

Goat Milk Formula Market Outlook (2022-2032)

“The global goat milk formula market is likely to register an average higher-digit CAGR over the forecast period”

The global market of goat milk formula is likely to increase in the forecast period owing to its enormous use in cheese products and dietary supplements. According to Fact.MR, its market is likely to grow at an average higher-digit CAGR (compound annual growth rate) in the forecast period.

APEJ dominated the global market for goat milk formula in 2018. North America and Europe are expected to witness a sizable rise in the overall sales of goat milk formula. Countries including the U.S., China, India, Brazil, and Japan among others are expected to witness a significant market share of goat milk formula. North America is expected to register a higher CAGR than other regions, owing to the rising trend of health consciousness among consumers.

The goat milk formula market is valued at USD 1.51 Billion in 2022. The market is anticipated to grow and cross a valuation of USD 3.26 Billion by end of 2032. Furthermore, this market is expected to grow with a CAGR of 8% in the forecast period.

Report Attributes	Details
Market size (2022 A)	USD 1.51 Billion
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 3.26 Billion
Global Market Growth rate (2022-2032 E)	CAGR of 8%
Key Companies Profiled	DGC Danone Ausnutria Dairy Corp Ltd Baiyue youlishi YaTai-Precious Red Star Guanshan MilkGoat Herds

What drives the need for goat milk formula?

Goat milk formula has similar prebiotic properties as human breast milk. Recent research has revealed that goat milk formula contains 14 naturally occurring prebiotics oligosaccharides, of which five are found in human breast milk. The goat milk formula is primarily manufactured and marketed for goat’s milk as the main raw additive for feeding babies and infants. The goat milk formula is usually prepared for cup-feeding or bottle-feeding. Cow milk formula contains ‘A1 casein’, which causes allergic reactions or inflammation among infants resulting in abdominal cramping and diarrhea.

Goat milk formula also contains ‘A2 casein’, which is also found in human breast milk and can be digested by infants without having any side effects. Further, fat globules existing in goat milk formula are comparatively smaller in diameter, which allows easier digestion of up to 94% among infants. The demand for goat milk formula in infant nutrition formula is fuelling the market drastically. Millennial mothers are now more aware of the importance of taking care of their baby’s health. Thus, there is an increase in demand for goat milk formula, which is highly nourishing and easily digestible, among health-conscious consumers.

The goat milk formula is anticipated to see a rise in demand owing to the preference for this product as an alternative to cow milk. The ease of digestion in goat milk is the reason for its preference instead cow milk in the case of children. This is likely to become a major factor driving growth in this market in the forecast period.

What restricts the growth in the goat milk formula?

The market being unorganized likely to create complexity for new entrants. Endemic diseases have an impact on goat milk production. limited feedstock due to increasing urbanization is affecting the goat farming fields. The limitation of grazing land due to increased deforestation is a challenge faced by the market. Production efficiency, waste management, and greenhouse emission are some key challenges faced by manufacturers.

“Impact of Covid-19: sluggish supply chain Network”

The recent pandemic of covid-19 has affected severely the supply chain network of firms across all industries. The management of operations was disrupted due to lockdowns and restrictions. The accelerated transportation costs and higher distribution costs associated with the products declined sales during the period.

There were limitations imposed by governments on non-essential imports and exports which resulted in border closures globally. While global lockdowns made people stay locked in their homes for months which affected demand during the period. The dairy and food industry started to work on the recovery of sales and demand-supply post-covid-19 pandemic. This is expected to mark an upward growth trajectory for product sales in the market in the forecast period.

Opportunities for Market Participants

Owing to the multiple nutritional benefits the demand for goat milk is likely to increase in the forecast period. This demand is anticipated to open the market for the participants. Moreover, the regional markets of South Asia and East Asia are expected to rise in global value share. One of the significant factors that can shape the future of this market is being preferred for baby food in cup feeding and bottle feeding.

Segment Wise Insights

The market is segmented on the basis of type, distribution channels, and packaging. Offline sales channels dominate the largest revenue share at present which is more than 75% in 2022. The offline distribution segment consists of sales through supermarkets, specialty stores, and grocery retailers.

The local retail segment is expected to increase in revenue share in the upcoming period owing to its accessibility and wide supply chain network. The online channels of distribution are also projected to notice a high growth trajectory in the forecast period.

Online commerce is expected to record the highest CAGR owing to increasing penetration. Company-owned websites are also widely being preferred by customers for buying products directly from the brand. Third-party platforms such as Walmart are anticipated to record maximum sales in the forecast period.

“Tetra Packaging to retain freshness and quality of goat milk formula”

Based on the packaging the premium bottle pouches are dominating the segment in the market. The ease and handling are reasons why bottle pouches are in demand. The tetra packages are also anticipated to gain the fastest growth in the forecast period owing to their aseptic environment where food is prevented from bacterial insertion. The tetra packs have proven to maintain the freshness and nutrition of products for longer which is likely to impel greater market size in the forecast duration.

Competitive Landscape

The global market for goat milk formula comprises several developers, who are primarily converging on developing an advanced version of goat milk formula mainly for nutrition products. The companies engaged in the manufacturing and distribution of goat milk formula are focused on expanding their business footprint by enhancing their product portfolio related to the goat milk formula. Some key market participants are DGC, Danone, Ausnutria Dairy Corp Ltd, Baiyue youlishi, YaTai-Precious, Red Star, Guanshan, MilkGoat, Herds, Fineboon, Jinniu, Shengfei, ShengTang, Holle, DANA Dairy, Vitagermine, and other prominent players.

Regional Outlook

North America and Europe are expected to gain good traction in goat milk formula manufacturing. The proliferating goat milk is seen as an alternative to breast milk and is the primary factor fuelling demand for the goat milk market.

Asia Pacific goat milk formula is likely to gain growth in the forecast period due to the demand for alternatives by working women in these regions. The rising no of women in the workforce is fuelling demand for these products. The mothers are looking at it as an alternative option that is likely to gain attention in this market.

Goat Milk Formula Market : Segmentation

• On the basis of Type :

  • First class (0-6 months)
  • Second class (6-12 months)
  • Third class (1-3 years)

• On the basis of Distribution Channels :

  • Hypermarkets & supermarkets
  • Connivance stores
  • Specialty stores
  • Medical & pharmacy stores

• On the basis of Packaging Type :

  • Bottle packaging
  • Tetra packaging

• On the basis of Geographical Regions :

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa (MEA)
  • Emerging Countries