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The global fluid milk market reached a value of US$ 173.8 Billion in 2020. Looking forward, IMARC Group expects the market size to reach US$ 198.69 Billion, growing at a CAGR of 2.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different industries. These insights are included in the report as a major market contributor.
Fluid milk, or beverage milk, represents a staple food for the majority of consumers, particularly in developing nations, such as India and China. There are various operations performed for processing beverage milk, namely standardization, homogenization, pasteurization, and fortification with vitamins A and D. It is highly nutritious and is rich in energy, carbohydrates, fats, proteins, vitamins, minerals, and minor biological proteins and enzymes. As a result, fluid milk offers myriad health benefits, including increased bone strength, a stronger immune system, and the prevention of various illnesses, such as hypertension, dental decay, dehydration, respiratory problems, obesity, osteoporosis, and some forms of cancer. There are different commercial variants of fluid milk available in the market, including fat-free, reduced fat, whole, and organic milk.
Fluid Milk Market Trends:
The dairy industry has been developing specialty fluid milk beverages to cater to the diverse nutritional needs of consumers across the globe. Lactose-reduced and lactose-free milk and acidophilus milk are produced for consumers with lactose intolerance (maldigestion). The widespread and easy availability of these products is majorly fueling the growth of the market. Other than this, increasing population, rising disposable incomes, changing eating habits and the escalating demand from developing regions are further supporting the market growth. Moreover, rapid advancements and innovations across the dairy chain and consistent emphasis on research and development (R&D), the establishment of strong brand images, and the adoption of improved marketing strategies by leading players are broadening the growth aspects of the market. Furthermore, growing health consciousness amongst consumers has prompted manufacturers to expand the production of fat-free and organic product variants across the globe, which is creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fluid milk market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on type, packaging material and distribution channel.
Breakup by Type:
Breakup by Packaging Material:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
The global fluid milk market was valued at US$ 173.8 Billion in 2020.
The rising consumer health consciousness, inflating disposable incomes, and increasing utilization of fluid milk to prepare numerous food items and beverages are some of the factors driving the global fluid milk market.
Sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of fluid milk.
Based on the product type, the global fluid milk market has been segmented into whole milk, reduced fat milk, low fat milk, fat free milk, organic milk, and others. Among these, whole milk exhibits a clear dominance in the market.
Based on the distribution channel, the global fluid milk market can be bifurcated into supermarkets and hypermarkets, convenience stores, specialty food stores, online retail, and others. Currently, supermarkets and hypermarkets account for the majority of the total market share.
On a regional level, the market has been classified into Asia, North America, Latin America, European Union, Eastern Europe, Oceania, and others, where Asia currently dominates the global market.
Some of the major players in the global fluid milk market include 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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