In 2021, the goat milk products market stood at $8,672.9 million; it is expected to hit $13,217.2 million revenue by 2030, advancing at a rate of 4.8% from 2021 to 2030, attributed to the surge in the number of health-conscious consumers, technological advancements in the field and government subsidies to promote goat farming. People are becoming more health-conscious and are willing to invest in products that offer health benefits.
Goat milk is enriched with a high volume of protein and calcium; it is good for children's and adults’ consumption as it strengthens their bones and teeth. Goat milk is enriched with other nutrients such as amino acids, potassium, oligosaccharides, magnesium, and Vitamin A. Smaller fat globules in goat milk give it a smoother texture. Similarly, less percentage of 1-casein in Goat milk results in increased water-holding capacity and reduced viscosity.
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After reaching the age of 60 years, bone strength and athletic ability start declining. Goat milk provides multiple nutrients and fulfills the body's requirement for calcium and vitamins. Consuming goat milk has numerous benefits; it softens the bones and prevents fractures. It increases the food digestion ability in older people as it has a high volume of good bacteria and germs that help in food digestion and hence prevent constipation.
Cheese is a significant contributor to the goat milk products market revenue, accounting for 45% of the product sales revenue, attributed to the massive increase in cheese demand in recent years. Cheese has popularity among youngsters and elderly people who are allergic to cow’s milk. Goat milk cheese is enriched with various types of healthy fats, such as fatty acids, medium-chain triglycerides, and medium-chain and short-chain unsaturated fats. Cheese is enriched with protein that offers vital amino acids to the human body.
Supermarkets & hypermarkets are significant distribution channels for daily products. They account for a 40% share of the goat milk products market. The large retail stores allow vendors to showcase their products. Due to the high range of items, these businesses cater to more extensive customer segments than small retail stores. Consumers usually plan to buy all their household from one store, including food items and other things. It results in high sales of goat meat and milk products in supermarkets and hypermarkets.
Goat farming is crucial for the rural economy in numerous countries. Goat farming provides socio-economic benefits. Around 70% of landless agricultural workers and small farmers are involved in goat farming leads to proliferation of goat milk products market. Goats not only provide milk but also produces high-quality of meat in a small area. Goats can survive in difficult weather conditions and less fertile areas. They also provide dung and hide. The worldwide increased government initiatives to promote goat farming, aided by financial incentives, have resulted in marginal farmers and entrepreneurs entering the market.
APAC is the most significant contributor to the goat milk products market revenue, with a 50% share. The APAC food and beverage industry is huge, representing 50% of the global market. China and India’s economy are agriculture-based; both the countries produce various agricultural items. The demand for goat milk and products ascribed to the increased need for baby formulae, which consume over 50% of the goat milk in the region.
The increased government initiatives to promote goat farming by providing it the financial aid and numerous health benefits of the goat milk drive the product demand.
