Evaporated Goat Milk Market

Global Evaporated Goat Milk Market Size (2024 to 2029)

The Global Evaporated Goat Milk market share value is expected to grow at a CAGR of 2.3% during the forecast period 2024-2029 to reach USD 6.41 billion by 2029 from 5.72 billion in 2024. 

Evaporated goat milk is produced by reducing the water content of fresh whole goat milk by half. This concentrated form of milk is rich in essential nutrients, including calcium, phosphorus, riboflavin, and more. Additionally, it contains a significant amount of medium-chain fatty acids, known for their heart-healthy properties. Goat milk offers substantial benefits for both men and women, particularly in promoting heart health due to its elevated levels of medium-chain fatty acids. Goat's milk contains approximately 30 to 35 percent of these beneficial fatty acids, whereas cow's milk typically contains only 15 to 20 percent. Evaporated goat milk finds versatile applications in various industries, including infant formula, bakery and confectionery, dairy products, and beverages. Consequently, the evaporated goat milk market is poised to generate substantial revenue and prove to be a profitable venture.

The increasing consumer appetite for novel and varied products signifies untapped opportunities within the Evaporated Goat Milk market. Opportunities lie in ongoing product innovations and diversification, which can unlock new pathways for market participants. The creation of fresh flavors, packaging alternatives, and convenient formats has the potential to attract a wider range of consumers.

Global Evaporated Goat Milk Market Drivers:

The Evaporated Goat Milk market is driven by several key factors. Increasing consumer concerns about health, particularly in light of the rising prevalence of lifestyle diseases like cardiovascular disorders, hypertension, diabetes, and obesity, are propelling market growth. Additionally, the expanding elderly population, which is more susceptible to bone-related health issues, is contributing to the market's expansion.Moreover, the growing awareness of the numerous benefits associated with Evaporated goat milk is fueling demand, especially among health-conscious consumers. Its popularity among individuals with lactose intolerance due to its lower lactose content is a significant driver. For instance, in 2023, a report by the World Population Review indicated that a substantial portion of the global population (approximately 65%) is lactose intolerant, with particularly high percentages in specific regions such as East Asia, Ghana, South Korea, and Vietnam. This lactose-intolerant population is a significant driver of the Evaporated goat milk market.Furthermore, Evaporated goat milk-based infant formulas are gaining traction due to their high nutritional value, which aids in preventing neurodevelopmental issues in young children. The demand for Evaporated goat milk in the personal care industry, where it is used in the production of soaps, creams, and lotions, is also contributing to market growth. Also, the COVID-19 pandemic has increased the demand for Evaporated goat milk, primarily because of its immune-boosting properties, making it a sought-after product during the health crisis.

Global Evaporated Goat Milk Market Restraints:

Several factors have the potential to hamper the growth of the Evaporated Goat Milk market. One significant challenge is the comparatively higher cost and limited availability of goat milk compared to cow milk. Goat milk is not as widely accessible, leading to elevated prices, which can hinder its broader adoption. Moreover, in certain regions, there is a lack of awareness about the benefits and availability of evaporated goat milk. Limited marketing efforts and distribution channels in these areas further constrain market growth.Additionally, stringent government regulations governing the dairy industry, including aspects like processing, quality control, and labeling, can pose challenges for market players. Ensuring compliance with these regulations can be complex and resource-intensive, impacting the market's expansion.

Impact of COVID-19 on the Evaporated Goat Milk Market:

The evaporated goat milk market experienced a mixed impact from the COVID-19 pandemic. Initially, there were disruptions in the supply chain caused by lockdowns and transportation restrictions. However, the market swiftly rebounded as consumers redirected their focus toward essential food items. The pandemic prompted an increased demand for natural and healthful dairy products, including evaporated goat milk. This surge in demand was driven by health-conscious consumer choices and a preference for products believed to boost the immune system. Nonetheless, market players encountered challenges in terms of production and distribution, resulting in temporary supply fluctuations of evaporated goat milk.

REPORT COVERAGE:

This research report on the Global Evaporated Goat Milk Market has been segmented and sub-segmented based on type, application, distribution channel function & region.

Global Evaporated Goat Milk Market - By Type:

•  Skimmed Evaporated Milk
•  Whole Evaporated Milk

Based on type, the whole evaporated milk segment has dominated the Evaporated Goat Milk market in 2022, and it is anticipated to grow at the highest CAGR during the projected period. Whole evaporated milk, characterized by its sweet and creamy texture and flavor, finds frequent use in a variety of culinary applications, including sauces, soups, quiches, and bechamel sauces. The escalating demand for low-sugar confectionery among health-conscious consumers has led to a preference for whole milk over skim milk.

Conversely, the skimmed evaporated milk product segment is projected to witness the fastest CAGR during the forecast period. This segment is commonly employed as a substitute for regular milk in the production of dairy items like ice cream, yogurt, and other frozen desserts.

Global Evaporated Goat Milk Market - By Application:

•  Infant Food
•  Dairy products
•  Bakeries
•  Confectionery
•  Others

Based on Application, in the projected period, the dairy products segment is anticipated to hold the most significant portion of the Evaporated Goat Milk Market. Globally, a larger number of individuals consume goat milk and goat milk-derived products compared to cow milk and its associated products. While both types of milk have their notable benefits, goat milk is often chosen in specific circumstances. A notable benefit is that goats, being smaller animals, necessitate considerably less food compared to cows. This makes them a more feasible livestock choice, particularly in developing nations where milk plays a crucial role as a vital source of both calories and nutrition. Furthermore, in many regions outside the United States, goat milk is preferred for its flavor over cow milk. Goat milk's versatility is also noteworthy, as it can be used to create a wide array of dairy products, including butter, ice cream, cheese, buttermilk, condensed milk, yogurt, and more.

On the other hand, the infant segment in evaporated goat milk is also rising fastly and is anticipated to record the highest CAGR in the upcoming years.

Global Evaporated Goat Milk Market - By Distribution Channel:

Offline sales

• • Hypermarket and supermarket
  • Convenience stores
  • Retail stores

Online sales

Based on the distribution channel, the offline sale segment is expected to dominate the Evaporated Goat Milk Market during the forecast period. Offline distribution channels are bolstered by consumer dependence, a substantial consumer base, and the widespread accessibility of products in physical stores. Developed nations often boast high-density grocery stores and small, independent retailers where products are readily accessible. The growth of this segment is further accelerated by the rising presence of organized retail outlets, including hypermarkets, supermarkets, convenience stores, and mixed retail establishments.

On the other hand, online distribution channels are poised to be the fastest-growing segment during the forecasted period. The surge in internet usage and the thriving e-commerce market are the primary drivers behind the expansion of online distribution channels.

Global Evaporated Goat Milk Market – By Region:

• North America
• Europe
• Asia-pacific
• Middle-East and Africa
• Latin America

Based on region, in 2022, the Europe region took the lead in dominating the evaporated goat milk market. This was primarily driven by a robust demand for nutritious products and government initiatives aimed at regulating unhealthy foods, coupled with incentives to promote the goat milk market within the region. Within Europe, the United Kingdom stood out as the fastest-growing market.

The Asia-Pacific evaporated goat milk market is anticipated to expand significantly, driven by factors such as population growth, economic prosperity, and an upsurge in global exports of evaporated goat milk. The increased utilization of evaporated goat milk for its therapeutic and nutraceutical properties, along with rising demand for cheese in the fast-food sector, has boosted profitability and is expected to further propel the growth of the evaporated goat milk market in the region.

KEY MARKET PLAYERS:

The Key Market Players include Meyenberg Goat Milk, Nestlé S.A, Arla Foods,Fraser and Neave Limited, Royal FrieslandCampina N.V, Eagle Family Foods Group LLC, Alokozay Group, Jackson-Mitchell, DANA Dairy Group Ltd, Alaska Milk Corporation, Holland Dairy Foods, O-AT-KA Milk Products, DMK Deutsches Milchkontor Gmb, Delta Food Industries FZC, Yotsuba Milk Products Co Ltd, Nutricia Limited, Zhejiang Panda Dairy Products Co Ltd, Granarolo S.p.A, St Helen's Farm and Stickney Hill Dairy.

RECENT HAPPENINGS IN THE MARKET:

In December 2022, In an undisclosed financial arrangement, Jackson-Mitchell, a dairy goat company based in the United States specializing in evaporated goat milk, merged with Redwood Hill Farm. This merger is intended to create a new entity, Darey Brands, with the primary objective of enhancing milk supply and optimizing operational efficiencies.