According to the latest report by IMARC Group, titled “Fluid Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached 222 Billion Liters in 2018. Fluid milk represents a staple food product, particularly in developing nations such as India and China. It is highly nutritious and contains significant amounts of riboflavin and other water-soluble vitamins. It is also rich in carbohydrates, fats, proteins, minerals, and minor biological proteins and enzymes. The presence of these nutrients in liquid milk helps in increasing bone strength; smoothening skin; improving the immune system; and preventing hypertension, dental decay, dehydration, respiratory problems, obesity, osteoporosis and even some forms of cancer.
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Global Fluid Milk Market Trends:
Fluid milk is used to produce several value-added products such as ice powdered milk, condensed milk, infant formula, butter, chocolate, cream, cheese, yogurt, sauces, buttermilk, and bakery and confectioneries products. Improving access to the wide range of milk-based products has increased the demand for milk across the globe. Moreover, the leading players in the industry are producing milk variants fortified with vitamin A and D to reduce the incidence of rickets in both children and adults. They are also introducing A2, lactose-reduced, lactose-free, and acidophilus milk to meet the special nutritional needs of consumers. Further, they are using advanced techniques, such as ultra-pasteurization or aseptic processing, to extend the shelf life of milk and allow its storage at room temperature. Owing to these factors, the market volume is projected to exceed 252 Billion Liters by 2024, expanding at a CAGR of around 2.2% during 2019-2024.
Market Summary:
- Based on the type, the report finds that whole fluid milk dominates the market, accounting for the majority of the global market share. Other segments are reduced-fat, low-fat, fat-free and organic.
- On the basis of the packaging material, the market has been segmented into paper, plastic glass and others.
- The market has been categorized based on the distribution channel into supermarkets and hypermarkets, convenience stores, specialty food stores, online retail and others. Supermarkets and hypermarkets currently represent the largest distribution channel.
- Region-wise, Asia enjoys the leading position in the market. Other major regions are the European Union, North America, Eastern Europe, Latin America and Oceania.
- The competitive landscape of the market has also been examined with some of the key players being Lactalis International, Nestlé S.A., Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Danone S.A., Dairy Farmers of America Inc., Arla Foods amba, Dean Foods Company, DMK Deutsches Milchkontor GmbH, Saputo Inc., Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) and Yili Group.
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