Global Goat Milk Formula Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.17 Billion |
| Market Size (2029) | USD 10.33 Billion |
| CAGR (2024 - 2029) | 14.86 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Goat Milk Formula Market Analysis
The Global Goat Milk Formula Market size is estimated at USD 5.17 billion in 2024, and is expected to reach USD 10.33 billion by 2029, growing at a CAGR of 14.86% during the forecast period (2024-2029).
Lower risk of allergy, high content of good fats like polyunsaturated fats, and low lactose content are the major factors driving the demand for goat milk formula among parents. Also, the relatively higher presence of prebiotics in goat milk and the smaller quantity of all cholesterol impact the buying behavior of parents, thus propelling the market鈥檚 growth.
Goat milk formula has been popularized and is better recognized by consumers after a decade of growth. More dairy makers are investing in the product, given the increasingly fierce competition in the goat milk formula market. For instance, in January 2024, Kabrita USA launched a goat-milk infant formula following a lengthy process to determine its whey protein concentrate and non-fat dry goat milk as Generally Recognized As Safe (GRAS) for infants. Active promotion through advertising has led many parents to believe that infant formula is a better and healthier alternative to breastmilk, leading to the increasing adoption of milk formulas, including the ones made from goat milk.
Asia-Pacific stands out as one of the leading consumers of goat milk formula, which is propelled by the increasing presence of lactose intolerance. Goat's milk is naturally lower in terms of lactose content, making it a viable option for parents concerned about lactose-related issues in their children. In February 2022, according to an article published by ChemLinked, Asian people were declared to be genetically predisposed to lactose deficiency, with around 92% of adults suffering from lactose intolerance in China.
Global Goat Milk Formula Market Trends
Online Retail Channels are Projected to be the Fastest-growing Distribution Channel
Online retailers, unlike traditional brick-and-mortar stores, offer a broader selection of products, catering to niche markets, like goat milk formula, allowing parents to find the specific formula their children need without geographical limitations. Online platforms are also trusted by parents as they provide detailed product descriptions, nutritional information, and customer reviews, helping parents make informed decisions based on their children鈥檚 needs. Many online retailers offer subscription services for daily grocery products, including goat milk formula, ensuring a steady supply delivered directly to one's doorstep. This eliminates the worry of running out and last-minute store trips.
A survey conducted in India by LocalCircles in February 2022 revealed that the most important criteria for online grocery shopping for 28% of respondents included selection and availability, while delivery time and value were viewed as the secondary criteria. In comparison, 8% chose a fast delivery focus when buying groceries online.
Online retailers usually stock a wide variety of brands compared to physical stores, catering to parents seeking specific features like organic ingredients, pre-biotics, or particular protein sources. These platforms bridge geographical gaps, allowing access to international goat milk formula brands that may not be readily available locally. This opens doors for parents who prefer specific brands or formulations from other countries. Moreover, online retailers leverage data to personalize product recommendations for parents based on their baby's age, dietary needs, and previous purchases.
Asia-Pacific Dominates the Goat Milk Formula Market
A significant portion of the Asian population struggles with lactose intolerance. Goat milk contains a different type of sugar than cow's milk, with a smaller lactose molecule, making it easier for some lactose-intolerant babies to digest. Addressing this condition is crucial for overall health as lactose intolerance can lead to digestive discomfort, including bloating and diarrhea, leading parents to choose cow milk alternatives for children.
Asian consumers are increasingly seeking products perceived to offer superior health benefits, leading to higher consumption of goat milk formula boasting higher levels of certain essential nutrients like short-chain fatty acids, casein, which is a type of milk protein that contributes to improved gut health, and pre-biotics, which promote the growth of beneficial bacteria. Countries like Vietnam, Thailand, and Indonesia are witnessing a surge in goat milk formula consumption. Growing awareness of its perceived health benefits and the increasing middle-income group are driving this trend.
Goat milk formula has been popularized and is better recognized by consumers after a decade of growth. More dairy makers are investing in the product, given the increasingly fierce competition in the goat milk formula market. For instance, in January 2022, Orient EuroPharma Group (OEP) launched Karihome goat milk formula in Indonesia, which was approved by the European Food Safety Authority (EFSA). Karihome is an international brand shared by OEP and Hamilton-base Dairy Goat Co-operative (DGC) in New Zealand. Karihome was the first goat鈥檚 milk formula in Indonesia, offering a digestive-friendly option for children.
Global Goat Milk Formula Industry Overview
The global goat milk formula market is highly competitive, with various global, regional, and local players, such as Holle Baby Food AG, Ausnutria Dairy Corporation Ltd, Nannycare Ltd, and Danone SA, operating in the market. The key market players are capturing market share based on research & development at extensive levels, expansion, production sites and facilities, and marketing activities. The increasing inclination of consumers to purchase goat milk formula owing to its health benefits is pushing manufacturers to expand their reach and offer innovative and clean-label products. For instance, Kendamil, a United Kingdom-based infant formula manufacturer, offers a goat milk formula that contains human milk oligosaccharides (HMOs). Kendamil Goat claims to be free from palm oil and fish oil, is made using plant-based docosahexaenoic acid (DHA), and contains no GMOs.
Global Goat Milk Formula Market Leaders
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Dana Dairy Group
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Ausnutria BV
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Unica Global BV
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Nannycare Ltd
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Holle baby food AG
*Disclaimer: Major Players sorted in no particular order
Global Goat Milk Formula Market News
January 2024: Kabrita officially unveiled the first and only long-term FDA-authorized goat milk-based infant formula in the United States. The long-term FDA authorization ensures consistent product availability, assuring parents of the permanence of the infant formula in the US market.
August 2023: Kendamil launched the Goat Milk Infant and Toddler Formula range in the United States. Kendamil Goat utilizes the unique and scientifically validated properties of goat milk to provide a new, naturally gentle option for babies.
March 2023: ObvioHealth, in partnership with IQVIA Consumer Health, announced the launch of a fully decentralized clinical trial with Jovie USA to offer a goat milk-based infant formula approved by the FDA in the United States. The study design was the first of its kind for infant formula, allowing parents and their newborns to participate in the trial from their homes without in-clinic visits. ObvioHealth and Jovie involved the FDA in the design of the study to increase the probability of regulatory success upon the completion of the trial.
Global Goat Milk Formula Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Health Benefits Associated with The Consumption of Goat Milk in Infants and Children
4.1.2 Surging Demand for Clean-label and Organic Products
4.2 Market Restraints
4.2.1 Strong Penetration of Substitute Products
4.3 Porters 5 Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Supermarkets/Hypermarkets
5.1.2 Convenience Stores
5.1.3 Pharmacy/Drug Stores
5.1.4 Online Stores
5.1.5 Other Distribution Channels
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 Spain
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Germany
5.2.2.5 Italy
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East and Africa
5.2.5.1 South Africa
5.2.5.2 Saudi Arabia
5.2.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning Analysis
6.3 Company Profiles
6.3.1 Dana Dairy Group
6.3.2 Ausnutria BV
6.3.3 Unica Global BV
6.3.4 Nannycare Ltd
6.3.5 Holle baby food AG
6.3.6 Pure Goat Company
6.3.7 Loulouka
6.3.8 Danone SA
6.3.9 Biostime Nutrition
6.3.10 The LittleOak Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Global Goat Milk Formula Industry Segmentation
The goat milk formula is made with goat milk. It is produced to the same nutritional standards as cow's milk-based formula.
The report is segmented by distribution channel and geography. The distribution channel is segmented into supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and other distribution channels. By geography, the market is sub-segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts were made based on value (USD).
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| Pharmacy/Drug Stores | |
| Online Stores | |
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Global Goat Milk Formula Market Research FAQs
How big is the Global Goat Milk Formula Market?
The Global Goat Milk Formula Market size is expected to reach USD 5.17 billion in 2024 and grow at a CAGR of 14.86% to reach USD 10.33 billion by 2029.
What is the current Global Goat Milk Formula Market size?
In 2024, the Global Goat Milk Formula Market size is expected to reach USD 5.17 billion.
Who are the key players in Global Goat Milk Formula Market?
Dana Dairy Group, Ausnutria BV, Unica Global BV, Nannycare Ltd and Holle baby food AG are the major companies operating in the Global Goat Milk Formula Market.
Which is the fastest growing region in Global Goat Milk Formula Market?
Middle East and Africa is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Goat Milk Formula Market?
In 2024, the Asia Pacific accounts for the largest market share in Global Goat Milk Formula Market.
What years does this Global Goat Milk Formula Market cover, and what was the market size in 2023?
In 2023, the Global Goat Milk Formula Market size was estimated at USD 4.40 billion. The report covers the Global Goat Milk Formula Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Goat Milk Formula Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Goat Milk Formula Industry Report
Statistics for the 2024 Global Goat Milk Formula market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Global Goat Milk Formula analysis includes a market forecast outlook for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
