Milk - Austria

Austria

Gross production value in Milk market is projected to amount to US$74.04m in 2024. An annual growth rate of 2.21% is expected (CAGR 2024-2028), resulting in gross production value of US$80.81m in 2028.
The import value in Milk market is projected to amount to US$73.9m in 2024. An annual growth rate of 4.89% is expected (CAGR 2024–2028).
The export value in Milk market is projected to amount to US$279.5m in 2024. An annual growth rate of 0.08% is expected (CAGR 2024–2028).

Key regions: United States, Brazil, United Kingdom, Spain, Italy

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Analyst Opinion

The Milk market in Austria has been experiencing some interesting developments in recent years.

Customer preferences: Austrian consumers have been showing a growing preference for organic and locally sourced milk products. This trend is in line with the global shift towards more sustainable and natural food products. Consumers are increasingly concerned about the environmental impact of food production and are willing to pay a premium for products that are produced in an eco-friendly manner. Additionally, there has been a rise in demand for lactose-free milk and milk products, driven by the growing number of people with lactose intolerance.

Trends in the market: One of the key trends in the Austrian milk market is the consolidation of the industry. The market is dominated by a few large players who have been acquiring smaller dairy companies in order to expand their operations and increase their market share. This trend is driven by the need for economies of scale in the industry, as well as the desire to diversify product offerings and increase profitability.Another trend in the market is the growing popularity of plant-based milk alternatives. While this trend is not yet as strong in Austria as it is in some other countries, there has been a noticeable increase in demand for products such as soy milk, almond milk, and oat milk. This trend is driven by a variety of factors, including health concerns, environmental concerns, and ethical concerns related to animal welfare.

Local special circumstances: Austria has a strong tradition of dairy farming, and milk and milk products are an important part of the country's culinary heritage. This has helped to create a strong domestic market for dairy products, as well as a strong export market for Austrian cheeses and other dairy products. Additionally, the country's mountainous terrain and cool climate make it well-suited for dairy farming, which has helped to create a high-quality and diverse range of milk products.

Underlying macroeconomic factors: The Austrian economy has been growing steadily in recent years, which has helped to support consumer spending and demand for milk products. Additionally, the country has a strong social welfare system, which provides a safety net for consumers and helps to ensure that they have the means to purchase high-quality food products. However, the country is also facing some challenges related to an aging population and a declining birth rate, which could impact the long-term demand for milk products.

Methodology

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.