The new report by Expert Market Research titled, ‘Global Fresh Milk Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the fresh milk market, assessing the market supported its segments like product type, application, end-user and major regions. The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, along side analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market (2020): 837 million tonnes
- Forecast Market Output (2026): 948 million tonnes
Milk production is expected to increase on average by 1.8 percent per year over the next decade. The majority of milk and dairy products are consumed as fresh dairy products, which account for nearly half of global production. Due to rising disposable incomes and expanding population, Asia will account for 70% of the increase in global production over the forecast period. Milk production is expected to increase by 3% annually in emerging economies, with the majority of it consumed as fresh milk and dairy products. In the forecast period, Pakistan and India are expected to account for the majority of the projected increase in global milk production. In 2027, these two countries are expected to account for more than a quarter of global production.
Industry Definition and Major Segments
Fresh whole/full-fat, low-fat, skim, modified, ultra-filtration, lactose-reduced or lactose-free food, flavoured, and fortified milk are all options. It contains a variety of essential nutrients that are required for human consumption on a daily basis.
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The fresh milk industry can be segmented on the following basis:
- Reduced-Fat (2%)
- Low-Fat (1%)
On the basis of regional markets, the segmentation of the fresh milk industry includes:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa.
The continuous expansion of fluid milk exports, which saw a 4% increase in 2017 after a robust 16% increase in 2016, is driving the fresh milk market. With rising consumer awareness of health issues around the world, demand has risen in recent years. Retailers are developing innovative packaging solutions to extend the shelf life of their products, which will boost sales during the forecast period. The fresh milk market is expected to expand further as a growing number of dairies switch to organic milk production. In the United States, organic milk accounted for 18% of total sales. Flavored milk is currently the most popular type of fresh milk.
Since the abolition of milk quotas in 2016, the European Union’s fresh milk market has gotten a boost from the specialisation and restructuring of its production industry. The market is expanding in the Americas, thanks to the rising population and increased milk production. Milk production in Latin America and the Caribbean is expected to increase by 18 percent by 2027, despite the region’s market share remaining stable in the global market. China, a major importer of dairy products, plans to increase domestic milk production by 1.5 percent per year in the coming years.
However, because the majority of its production will be consumed domestically as fresh milk and dairy products, its contribution to global milk production is expected to remain unchanged. 85% of the increased milk production in developing countries, which is expected to grow faster than in developed countries, will be used to produce fresh milk and dairy products. Fresh dairy consumption is expected to grow faster than processed dairy consumption globally, increasing by 2.1 percent annually over the forecast period.
Key Market Players
The major players within the market are Nestle SA, Lactalis Group, China Mengniu Dairy Company Limited, Arla Food Amba, Cooperativa Central Dos Produtores Rurais De Minas Gerais Ltda. (Itambe), Gujarat Cooperative Milk Marketing Federation Ltd. (Amul), Inner Mongolia Yili Industrial Group Co., Ltd, DMK Deutsches Milchkontor GmbH, Dairy Farmers of America and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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