Liquid Milk Market size is estimated at $173.2 billion in 2020, projected to grow at a CAGR of 1.7% during the forecast period 2021-2026. Milk is a nourishing fluid nutriment formed by the mammary glands of mammals. It is termed sweet milk in its unbrewed form. The initial lactation milk is termed colostrum and includes antibodies that make the immune system powerful. This decreases the chance of occurrence of many ailments. Liquid milk is the most partaken, processed, advertised and sold dairy commodity. Liquid milk includes pasteurized milk, skimmed milk, standardized milk, reconstituted milk, ultra-high-temperature (UHT) milk and fortified milk. At a global level, a diminishing quantity of liquid milk is partaken in its unprocessed form. The increasing disposable income of customers and the burgeoning innovation in the dairy industry are driving the growth of the Liquid Milk market. Common dairy products made of liquid milk include butter and butter mixes, organic and processed cheese commodities, cultured dairy like yoghurt, cottage cheese, sour cream, dips and more cultured dairy fare driving the market growth. Invented by Louis Pasteur, pasteurization is the technique of steaming and chilling food to destroy bacteria. Caseins are the primary proteins in bovine milk and nearly 95% of the caseins prevail as casein micelles. Caseins enrich the amino acid design of human milk and are greatly absorbable. Practically, their most significant characteristic is their capability to build balanced aggregates consisting of calcium and phosphorus. Liquid milk is utilized for diverse functions in the dairy industry. Typical liquid dairy products include farm milk, skim condensed milk, whole condensed milk, whey condensed milk, fluid permeate, sweet cream, whey cream and ultrafiltered whole milk. Rising appreciation concerning the consumption of balanced milk commodities, increasing demand from the developing regions and expanding retail industry are fuelling the growth of the liquid milk market.
Liquid Milk Market Segment Analysis – By Type:
Based on Type, Whole Milk Segment accounted for the largest revenue market share in 2020 and is also estimated to register highest CAGR of 2.1 % during the forecast period 2021-2026 owing to the fact that it is recognized as a reliable source of vitamin A. Vitamin A is a fat-soluble vitamin present in the fat aspect of milk. Vitamin A content that is organically present in 2%, 1% and skim milk is lower than in whole milk owing to the lower fat levels. To attain the nutritive conformity of whole milk, lesser fat milks need to be fortified to 300 IU vitamin A per 8 oz serving. The FDA supports fortification to a level of 500 IU of vitamin A per 8 oz serving, which is 10 % of the recommended daily allowance (RDA).
Liquid Milk Market Segment Analysis – By Source:
Based on Source, Cow milk held the largest revenue market share in 2020. The highest amount of Cow Milk was consumed in India at a global level in 2020, amounting to over 81 million metric tonnes. Nearly all people have a preference for Cow’s Milk owing to the reason that cow’s milk offers 67 kilocalories with a protein content of 3.2 grams per 100 millilitres. Milk proteins are casein (nearly 60%) and whey (nearly 20%). Whey comes with a greater nutritive value than casein. Goat Milk segment is estimated to grow with the fastest CAGR of 2.3% in the forecast period 2021-2026 owing to the reason that goat milk offers higher nutrition than cow milk. Further, goat milk consumption enhances innate and adaptive immunities, supporting the segment growth.
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Liquid Milk Market Segment Analysis – By Geography:
Based on Geography, Asia Pacific Liquid Milk Market accounted for the 44% revenue share in 2020. India is one of the largest producers of liquid milk in the world with the United States of America, China, Pakistan and Brazil behind. The huge population coupled with the natural inclination of the customers towards liquid milk and its derivative dairy products has resulted in greater consumption of liquid milk and dairy products in the region, accelerating the growth of the Liquid Milk Market. The presence of vegan and vegetarian population in the region, boost in the standard of living and the rise in health awareness among the purchasers have served as determinants to fuel the growth of the Liquid Milk Market in the region amidst the crisis imposed by the COVID-19 pandemic. North America is set to grow with the fastest CAGR in the forecast period 2021-2026. An assortment of higher value-added commodities is offered by liquid milk like ice-pumpkin milk, condensed milk, formula for children, cheese, yoghurt in the region which is propelling the regional demand for liquid milk.
Liquid Milk Market – Drivers
Rising Population, Boost In Purchasing Power And Switching Customer Preferences:
The increase in the population of primary liquid milk producers like India and China has led to boost in milk consumption and this is driving the market growth for the Liquid Milk Market. Furthermore, the rise in the disposable income of the purchasers coupled with advanced standard of living is another determinant propelling the growth of the Liquid Milk Market forward. Countries like India have a large vegetarian population and have a greater inclination towards consuming dairy products which is impelling the progress of the Liquid Milk Market. The current crisis imposed by the COVID-19 pandemic has made people more mindful of their health and people have largely turned towards plant-based vegetarian and vegan diet options. This is further driving the development of the liquid-milk market owing to its health benefits like liquid milk being a good source of calcium, phosphorus, B vitamins, potassium, vitamin D and protein. Liquid milk and its derivative dairy products may avert osteoporosis and bone fractures and support to keep up a healthy weight driving the market growth.
Liquid Milk Market – Challenges
Challenges faced By Dairy Farmers, thus limiting the production of Liquid Milk:
In countries like India, dairy farmers require a balanced market and improved pricing for liquid milk, continuous, economical supply of feed and trustworthy veterinary services. There needs to be a lucrative price disregarding the fat content or conferring greater weightage to the amount of milk for liquid milk. Dairy farmers require a steady supply of fodder and cattle diet at a moderate price coupled with a daily supply of veterinary services and medicines. Considering the current scenario of dairy farmers in India, government intervention is necessary to rescue the sector. Seven important programmes are operational by the Department of Animal Husbandry and Dairying. It is thought-provoking to observe that the pandemic is utilized as a reason for the target not being achieved, programmes not being put into action and the budgetary distributions not being used. These determinants limit the growth of the Liquid Milk Market.
Liquid Milk Market – Landscape:
The Liquid Milk Market’s primary strategies include novel product launches, partnerships, business expansions and acquisitions. The top 10 companies in the Liquid Milk Market include Nestle S.A., Danone S.A., Kraft Heinz Company, Fonterra Co-Operative Group Limited, Royal Friesland Campina N.V., Dairy Farmers of America Inc., Arla Foods Amba, Saputo Inc., Dean Foods Company and Parmalat S.p.A.
Acquisitions/Product Launches:
In August 2021, the copyrighted Haelen technique by Naturo is targeted towards stretching the shelf life of fresh milk. This is a first at a global level and has the possibility to achieve a breakthrough in Australia’s dairy industry with novel favourable export chances and a boost in farmgate prices. The food technology company, Naturo’s Haelen technology, dissimilar to pasteurization, does not include heat and destroys bacteria without removing vitamins and enzymes. The federal government has offered Naturo with an Accelerated Commercialisation grant that will authorize it to examine international market opportunities.
Key Takeaways
Liquid Milk Market growth is being propelled by a rise in vegetarian and vegan population, advanced standards of living and enhanced mindfulness of health among customers owing to the increased inclination towards healthier diet options amidst purchasers in the wake of the COVID-19 pandemic crisis.
Geographically, Asia Pacific Liquid Milk Market accounted for the largest revenue share in 2020 owing to the boost in the population, the great consumption of liquid milk and dairy products in the region and this is forecast to advance during the forecast period 2021-2026. The scope of the Liquid Milk Market for various regions will be provided in the final report.
The Liquid Milk Industry is growing owing to the augmentation of speciality liquid milk beverages like lactose-free milk to satisfy the different nutritive demands of purchasers.
The progress of the Liquid Milk Market will also be impelled by different milk beverages prepared from liquid milk including plant sterols which support the enhancement of cholesterol levels in the body. The commodities readied from liquid milk are mostly carbohydrate diminished, reinforced with protein and calcium, specially targeted towards adults. Liquid milk market is estimated to infiltrate the beverage market on a larger scale during the forecast period 2021-2026, owing to the reasons discussed above.
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