Key regions: United States, Brazil, United Kingdom, Spain, Italy
The global milk market is one of the largest and most important markets in the food industry. Milk is a staple food in many countries around the world and is consumed in various forms such as liquid milk, cheese, butter, and yogurt. The milk market has been growing steadily due to the increasing demand for dairy products in emerging economies and the growing health consciousness among consumers.
Customer preferences: Consumers around the world have different preferences when it comes to milk products. In developed countries, there is a growing trend towards organic and plant-based milk products, while in emerging economies, there is a preference for traditional dairy products. Consumers in developed countries are also increasingly concerned about animal welfare and sustainability, leading to a growing demand for milk from grass-fed cows.
Trends in the market: The milk market is growing in emerging economies such as India and China due to the increasing demand for dairy products. The rising middle class in these countries has led to an increase in disposable income, which has resulted in a higher demand for milk products. In developed countries, the trend is towards organic and plant-based milk products. Plant-based milk products such as almond milk and soy milk are becoming increasingly popular due to their health benefits and sustainability.
Local special circumstances: In India, milk is considered a staple food and is consumed in various forms such as milk, yogurt, and ghee. The dairy industry in India is dominated by small-scale farmers who supply milk to local cooperatives. In China, the dairy industry is dominated by large-scale dairy farms that supply milk to processors. The Chinese government has been investing heavily in the dairy industry to increase milk production and reduce the country's dependence on imports.
Underlying macroeconomic factors: The milk market is influenced by various macroeconomic factors such as population growth, income levels, and government policies. The growing population and rising disposable income in emerging economies are driving the demand for milk products. Government policies such as subsidies and import/export regulations also play a role in the milk market. The increasing awareness about animal welfare and sustainability is also influencing consumer preferences and driving the demand for organic and grass-fed milk products.
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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