A2 Milk Market Estimated to Exceed US$ 19,324 Million Globally By 2024
The global A2 milk market is driven by the rising awareness about the adverse effects of A1 milk, the availability of innovative product variants and the growth of the organized food retail sector in emerging markets.
According to the latest report by IMARC Group, titled “A2 Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global A2 milk market size reached US$ 5,446 Million in 2018. A2 milk is a type of processed milk that contains one of the two beta-casein proteins found in regular cow milk. It is obtained from older cow breeds, such as Limousin, Charolais, Jersey and Guernsey. A2 milk has a slightly golden color and is considered beneficial for people who are otherwise intolerant to regular milk. Since its inception in the early-1990s, A2 milk has gained popularity across the globe on account of its various nutritional benefits. This type of milk is devoid of BCM-7, otherwise found in A1 milk. It helps the consumer to prevent the risk of neurological impairment, autoimmune diseases, type 1 diabetes, heart diseases and impaired immune responses. Other than this, A2 milk is processed with the low heat pasteurization procedure, which preserves beneficial and bacteria and nutrients present in the milk.
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Global A2 Milk Market Trends:
In recent years, with the evidence from the scientific community, consumers across the globe have become aware of the negative health impacts of A1 milk, which has led them to shift to A2 milk. Also, owing to the escalating demand, industry players have started expanding their product offerings to liquid milk, infant and baby formulas, cheese and yogurt. Other than this, they have also introduced A2 milk in the form of powder, flavored milk, buttermilk, condensed milk, ghee, paneer and table butter. These variations have helped market players to retain and widen their existing consumer base. Moreover, rapid growth in the organized food retail industry and rising per capita incomes across emerging markets have presented manufacturers with several growth opportunities. Attributing to the factors as mentioned earlier, the market is expected to witness robust growth at a CAGR of 23.5% during 2019-2024, reaching a value of US$ 19,324 Million by 2024.
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Global A2 Milk Market Summary:
Market Breakup by End-Use
1. Liquid Milk
2. Infant Formula
3. Others
The market has been segmented on the basis of the end use into liquid milk, infant formula and others. Amongst these, liquid milk is the largest end use sector.
Market Breakup by Distribution Channel
1. Supermarkets & Hypermarkets
2. Convenience & Grocery Stores
3. Online Stores
4. Others
The report has analyzed the market according to the distribution channel, which includes supermarkets and hypermarkets, convenience and grocery stores, online stores and others. At present, supermarkets and hypermarkets are the most popular distribution channels as they offer convenience to consumers.
Performance of Key Regions
1. North America
2. Europe
3. Oceania
4. Asia
5. Others
On a regional basis, Oceania is the leading market for A2 milk, accounting for the majority of the total market share. The growth can be accredited to the growing consumer awareness regarding the health benefits of A2 milk and aggressive marketing strategies adopted by market players to promote it in the region. Oceania is followed by Asia, Europe and North America.
Competitive Landscape
The competitive landscape of the market has been examined with some of the key players being the A2 Milk Company Limited, Jersey Dairy, Pura, Dairy Farm International Holdings Limited, and Fonterra Co-operative Group Limited.
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