Milk - Spain

Spain

Gross production value in Milk market is projected to amount to US$1.86bn in 2024. An annual growth rate of 2.08% is expected (CAGR 2024-2028), resulting in gross production value of US$2.02bn in 2028.
The import value in Milk market is projected to amount to US$70.0m in 2024. An annual growth rate of -0.77% is expected (CAGR 2024–2028).
The export value in Milk market is projected to amount to US$101.2m in 2024. An annual growth rate of 0.12% is expected (CAGR 2024–2028).

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

Market

Region

Region comparison

Currency

Analyst Opinion

Spain, known for its rich culture and history, has a unique milk market that reflects the country's traditions and lifestyle.

Customer preferences: The Spanish milk market is primarily dominated by cow's milk, with a preference for whole milk. However, there has been a growing demand for plant-based milk alternatives, such as soy and almond milk, due to an increase in health-conscious consumers. The younger generation is also more inclined towards organic and locally sourced products.

Trends in the market: One of the major trends in the Spanish milk market is the emphasis on quality and sustainability. Consumers are willing to pay a premium for milk that is produced using ethical and environmentally friendly practices. Additionally, there has been a rise in the popularity of artisanal dairy products, such as cheese and yogurt, which are made using traditional methods and local ingredients.

Local special circumstances: Spain's milk market is unique due to the country's rich agricultural heritage and diverse regional cuisines. The milk market is heavily influenced by the country's cheese-making traditions, with various regions producing their own distinct types of cheese. Additionally, the consumption of milk in Spain is often associated with breakfast and is a cultural staple in many households.

Underlying macroeconomic factors: The Spanish milk market is influenced by several macroeconomic factors, such as the country's GDP and unemployment rate. A strong economy and low unemployment rate often translate to increased consumer spending and a higher demand for premium dairy products. Additionally, the country's membership in the European Union has led to increased competition from other European dairy producers, which has forced Spanish producers to focus on quality and sustainability to remain competitive.

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.