LONDON--(BUSINESS WIRE)--The global goat milk market is expected to post a CAGR of over 6% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increase in demand for lactose-free and lower lactose products. People with lactose intolerance are unable to digest lactose. The number of individuals with lactose intolerance is increasing worldwide. Since goat milk contains lower lactose than cow milk, it is a viable alternative for cow milk. Thus, with an increase in the number of lactose intolerant people, the demand for lactose-free products or products with low lactose content will increase at a fast pace which will boost the growth of the global market.
This market research report on the global goat milk market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing demand for flavored goat milk as one of the key emerging trends in the global goat milk market:
Global goat milk market: Increasing demand for flavored goat milk
As taste is an important parameter to judge a brand, players are increasingly concentrating on possibilities to enhance the flavor of their products. The variety of flavors in goat milk is gradually becoming popular. Thus, to capitalize on this demand, many players are offering goat milk with varied flavors. Thus, higher preference for flavored food products will usher more experiments in terms of flavor fusion.
“Another major factor other than increasing demand for flavored goat milk is attractive and innovative packaging which is one of the best ways to attract new consumers and create demand. Convenient, single serving or portable features in packaging are important parameters that consumers consider while making purchases. Thus, many goat milk players are introducing attractive packaging for their product offerings,” says a senior analyst at Technavio for research on non-alcoholic beverages.
Global goat milk market: Segmentation analysis
This market research report segments the global goat milk market by product (fresh goat milk and processed goat milk) and geographical regions (APAC, EMEA, and the Americas).
The APAC led the market in 2017 with a market share of more than 52% of the market share, followed by EMEA and the Americas respectively. However, during the forecast period, the Americas is expected to show the highest incremental growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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