Global Fluid Milk Market is projected to be worth USD 239.18 billion by 2033 and is anticipated to surge at a CAGR of 2.56%.
Fluid milk is liquid milk that is taken directly by people, without any further processing or alteration. It is one of the world's most popular dairy products and a significant source of nourishment, particularly for children and adolescents. Whole milk, skimmed milk, semi-skimmed milk, flavoured milk, and organic milk are all part of the global fluid milk market. Factors such as increased disposable incomes, rising health consciousness among consumers, and the adaptability of milk as an ingredient in numerous food and beverage products drive the fluid milk market.
Global Fluid Milk Market Driving Factors and Challenges
The global fluid milk market is predicted to expand in the future years as a result of a variety of key drivers. For starters, rising population, particularly in emerging economies, will fuel demand for fluid milk. Secondly, increased disposable incomes are driving up spending on high-quality, healthy dairy products like milk. Thirdly, rising consumer health concern is boosting demand for low-fat and organic milk alternatives. Finally, demand for flavoured milk and other value-added milk products is being driven by milk's adaptability as an ingredient in a variety of food and beverage items.
However, The fluid milk market is facing a number of issues, both internal and external. The movement in customer tastes towards non-dairy alternatives such as almond, soy, and oat milk is one of the major problems. Another concern is increased rivalry from private label brands and regional businesses, which has resulted in the large dairy firms losing market share. Rising production expenses, particularly feed and energy costs, are another major concern for the industry.
Impact of COVID-19 on Global Fluid Milk Market
The COVID-19 pandemic had an impact on the fluid milk market, both positively and negatively. With the closure of schools and restaurants, there has been a decrease in demand for bulk milk, resulting in a milk surplus. This glut has resulted in a drop in milk prices, putting financial strain on dairy farmers. On the other side, demand for milk in retail outlets has increased as customers stock up on necessities.
Fluid Milk Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Agri-Mark Inc., Associated Milk Producer Inc., Country Fresh LLC, Dairy Farmers of America Inc., Danone SA, Fonterra Cooperative Group Limited, Koninklijke Friel and Campina NV, Lactalis Group, Mayfield Dairy Farms Inc., Nestl SA.
Global Fluid Milk Market Segmentation:
By Source: Based on the Source, Global Fluid Milk Market is segmented as; Cow Milk, Ship Milk, Goat Milk, Buffalo Milk.
By Type: Based on the Type, Global Fluid Milk Market is segmented as; Whole Milk, Low Fat Milk, Reduced Fat Milk, Skim Milk, Cultured Butter Milk, Lactose-Free Milk, Flavoured Milk.
By Application: Based on the Application, Global Fluid Milk Market is segmented as; Fortified Milk, Flavoured Dairy Drinks, Yoghurts, Cheese, Creams, Frozen Desserts.
By Distribution Channel: Based on the Distribution Channel, Global Fluid Milk is segmented as; Supermarkets & Hypermarkets, Convenience Stores, Speciality Food Stores, Others.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.