LONDON--(BUSINESS WIRE)--The global camel milk market is expected to grow at a CAGR of close to 7% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global camel milk market by product (fresh camel milk and processed camel milk). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing camel milk production
The players in the market have increased the production of camel milk due to the rise in demand from consumers. With the rise in the number of dairies producing camel milk, various companies are investing in increasing the herd size of camels to increase the production of milk. Organizations such as the Australian Wild Camel Corporation is planning to increase its herd size from 450 camels to 2,500 camels over the next two years as the number of dairies producing camel milk has increased to 10 in Australia during the past two years.
According to a senior analyst at Technavio for non-alcoholic beverages research, “It is expected that the growing popularity of camel milk among diabetic patients will lead to an increase in investments in the market during the forecast period. Along with Australia, African countries such as Kenya and Ethiopia are focusing on increasing camel milk production, thus fueling the growth of the market.”
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Market trend: launch of new products based on camel milk
Players in the market are trying to capitalize on the increasing demand for camel milk among consumers by introducing new products based on camel milk, such as chocolates and ice creams. The demand is expected to remain high during the forecast period due to increasing awareness of the benefits of camel milk among consumers.
Many food and beverage companies are launching innovative products such as camel milk chocolates and camel milk ice creams in a variety of flavors such as date, cardamom, saffron, chocolate, and raspberry vanilla.
Market challenge: increasing competition from plant-based milk alternatives
Plant-based milk alternatives such as soy milk, almond milk, and coconut milk are some of the major competitors for camel milk. Vegans, lactose or dairy intolerants, and people with milk allergies are the primary users of these plant-based alternative dairy drinks. These drinks have low-fat and low-cholesterol levels. Medical benefits, rising health consciousness among consumers, and increasing vegan population are driving the demand for such products.
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