Fluid milk is considered an integral part of a healthy balanced diet for people of all ages. It is a rich source of vital nutrients which include calcium, proteins, potassium, iodine, phosphorous and vitamin B2 and B12. The consumption of milk is associated with numerous health benefits such as it helps in building muscles, maintaining weight, strengthening bones and teeth, and preventing obesity, high blood pressure, cancer, depression, cardiovascular diseases, type-2 diabetes. A new research report by IMARC Group, titled “Fluid Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market reached a volume of 218 Billion Litres in 2017. The report further anticipates the market to reach 243 Billion Litres by 2023, at a projected CAGR of nearly 2% over the forecast period.
Market Drivers/Constraints:
- The rising popularity of value-added products such as ice powdered milk, condensed milk, infant formula, butter, chocolate, creams, cheese, yogurt, sauces, buttermilk, and bakery and confectioneries products across the world represents the significant factor that has positively influenced the overall growth of the fluid milk market.
- Manufacturers are constantly focusing on R&D and coming up with unique marketing strategies so as to widen their consumer-base. In order to meet the changing preferences of health-conscious consumers, they are coming up with healthier milk varieties such as low fat, skimmed, semi-skimmed and organic milk.
- Moreover, inflating disposable incomes, improving living standards, growing health consciousness and a strong demand from emerging nations have significantly contributed to the growth of the global fluid milk market.
- However, there are several factors that hamper the market growth. The increasing milk prices coupled with the emergence of lactose intolerant and vegan population is anticipated to negatively affect the market growth.
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Regional Insights:
On a geographical front, Asia enjoys a leading position in the global fluid milk market, accounting for the majority of the share. Asia is followed by the European Union, North America, Eastern Europe, America, Oceania and others.
Competitive Landscape:
The market of fluid milk is highly fragmented with the presence of numerous regional and large manufacturers who compete in terms of prices and quality. There is a stiff competition in the market which makes it difficult for small players to enter. Some of the leading players operating in the market are:
- Lactalis Group
- Nestle
- Fonterra
- FrieslandCompina
- Danone
- Dairy Farmers of America
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