Global A2 Milk Market Size Worth US$ 19,324 Million by 2024 | CAGR 23.5%by IMARC Group Market Research Reports
The global A2 milk market has witnessed a robust growth in recent years. This can be accredited to the rising awareness about the benefits provided by A2 milk, diversifying product portfolio and growing demand from emerging markets.
The recent report by IMARC Group, titled “A2 Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global A2 milk market reached a value of around US$ 5,446 Million in 2018. A2 refers to a genetic variant of ß-casein found in regular cow milk which differs in structure from A1 ß-casein by one amino acid. A2 milk has a natural golden color and is obtained from older cow breeds, such as Charolais, Guernsey, Jersey and Limousin, which are mostly found in India, France, Japan, Australia and New Zealand. It offers vital Omega-3 fatty acids that promote mental growth, build immunity and increase metabolic rate. Owing to these health benefits, A2 milk is gaining popularity among consumers across the globe.
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Global A2 Milk Market Trends:
Regular milk is hard to digest for lactose intolerant people owing to which they are preferring A2 milk which is considered to be easier to digest. It also helps in relieving the symptoms of stomach discomfort, such as bloating, gas and diarrhea, which usually occur after the consumption of conventional dairy products. Further, A2 milk companies provide a wide product portfolio including liquid milk, baby food and infant formula, yoghurt, cheese etc., catering to a diverse group of consumers and institutions. Some of the other factors influencing the market growth include increasing demand from the emerging markets such as India and China, mounting income levels and the growth of the organized food retail industry. Looking forward, the A2 milk market value is anticipated to reach US$ 19,324 Million by 2024, projecting a CAGR of 23.5% during 2019-2024.
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Global A2 Milk Market Summary:
Market Breakup by End-Use
1. Liquid Milk
2. Infant Formula
Based on end-use, the market has been segregated into infant formula, liquid milk and other dairy products. Currently, liquid milk represents the major segment, holding the largest market share. Since it is considered as one of the vital sources of protein and calcium, liquid milk is mostly preferred by the consumers.
Market Breakup by Distribution Channel
1. Supermarkets & Hypermarkets
2. Convenience & Grocery Stores
3. Online Stores
On the basis of distribution channel, supermarkets and hypermarkets account for majority of the market share. They offer a large variety of products from different brands, thereby providing convenience to the consumers. Other major distribution channels include convenience and grocery stores, online/non-store retailing and others.
Performance of Key Regions
1. North America
Region-wise, the market has been categorized into Oceania, Asia, Europe, North America and others. Amongst these, Oceania is the leading market, accounting for more than two-thirds of the global marlket. This can be attributed to the increasing consumer awareness regarding the health benefits offered by A2 milk products.
The competitive landscape of the market is concentrated in nature with some of the key players being The A2 Milk Company, Jersey Dairy, Pura, Dairy Farmers and Fonterra.
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Created on Oct 22nd 2019 04:22. Viewed 212 times.
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