Global Fluid Milk Market to Grow at 1.9% During 2024-2032, Impelled by Advent of Lactose-Free Product Variants

According to the latest report by IMARC Group, titled "Fluid Milk Market Report by Type (Whole, Reduced Fat, Low Fat, Fat Free, Organic, and Others), Packaging Material (Paper, Plastic, Glass, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Food Stores, Online Retail, and Others), and Region 2024-2032," the global fluid milk market reached a value of US$ 184.9 Billion in 2023. Fluid milk refers to any form of milk or milk products that are available in the liquid form. It is characterized by a pleasantly sweet flavor without any distinctive aftertaste. It is a rich source of calcium, proteins, fats, carbohydrates, minerals, riboflavin and biological enzymes. It is often fortified with vitamin A and D to improve the nutritional content of the milk. As a result, its regular consumption is widely associated with improving bone strength, boosting immunity and maintaining blood pressure levels. It is also essential in improving skin health, preventing respiratory problems and minimizing the chances of developing cancer.

Global Fluid Milk Market Trends:

The market is primarily driven by the growing utilization of fluid milk in numerous food preparations across the globe. It forms an integral part of the staple diets in various developing regions, including China and India, and in numerous bakery and confectionary preparations. Additionally, milk is considered to be a complete food in itself and offers multiple health benefits on regular consumption. This, coupled with increasing health consciousness among the masses and inflating per capita income levels, is facilitating the uptake of fluid milk on the global level. The market is further driven by the introduction of a vast array of product variants, such as skim milk, ultrafiltered skim milk, and condensed whole milk, which are widely gaining preference among the masses. The launch of specialized plant-based and lactose-free milk products is also acting as a major growth-inducing factor. This is further facilitated by the increasing demand for these milk variants from consumers suffering from lactose intolerance. Other factors, such as technological advancements enabling improvements in homogenization, pasteurization, standardization, aseptic processing and packaging operations and the growing automation in the dairy sector, are also contributing to the market growth. On account of the aforementioned factors, the market is projected to grow at a CAGR of 1.9% during 2024-2032.

Market Summary:

• On the basis of the type, whole fluid milk represents the most preferred segment. Other major product types are reduced fat, low fat, fat free, organic and others.
• Based on the packaging material, the market has been classified into paper, plastic, glass and others.
• On the basis of the distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, specialty food stores, online retail and others. Among these, supermarkets and hypermarkets account for the majority of the total market share.
• On the geographical front, Asia holds the leading position in the market. Some of the other major regions include the European Union, North America, Eastern Europe, Latin America, Oceania and others.
• The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players 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.

Report Coverage:

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