Key regions: United States, Brazil, United Kingdom, Spain, Italy
The popularity of Milk in the United States has been on the rise in recent years, with more and more consumers seeking out this nutritious beverage.
Customer preferences: One reason for this trend is the growing awareness among consumers of the health benefits of milk. Milk is an excellent source of calcium, protein, and other essential nutrients, making it an ideal choice for those looking to maintain a healthy diet. Additionally, many consumers are turning to milk as a substitute for sugary drinks, as they look to reduce their sugar intake.
Trends in the market: Another trend in the milk market in the United States is the rise of plant-based milk alternatives. While traditional cow's milk remains the most popular choice among consumers, plant-based options like almond milk, soy milk, and oat milk have gained a significant following in recent years. This trend is driven by a growing interest in vegan and vegetarian diets, as well as concerns over the environmental impact of traditional dairy farming.
Local special circumstances: One unique aspect of the milk market in the United States is the prevalence of regional dairy products. Different regions of the country have their own distinct milk products, such as buttermilk in the South and chocolate milk in the Midwest. These regional specialties are often a source of pride for consumers, and can help to drive demand for local dairy products.
Underlying macroeconomic factors: The overall growth of the milk market in the United States can be attributed to a number of underlying macroeconomic factors. One key factor is the country's growing population, which is driving up demand for food and beverages of all kinds. Additionally, the strong economy and low unemployment rate are giving consumers more disposable income to spend on premium milk products. Finally, the rise of e-commerce and online grocery shopping has made it easier than ever for consumers to access a wide variety of milk products, including specialty and regional options.
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.
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