A
new market research report has been recently published by
Transparency Market Research, a U.S.-based market research and
intelligence firm. The research report provides an in-depth analysis
of the milk market in North America, including market overview,
product segmentation, and competitive analysis. The research report
is titled “North America Milk Market - Scenario, Industry Analysis,
Size, Share, Growth, Trends, and Forecast, 2013 - 2019”.According
to the report, in 2012, the North America milk market stood at
US$27.81 billion and in 2013, it was valued at US$29.1 billion. Going
further, the milk market is projected to touch US$35.8 billion by the
end of 2019, growing significantly at a 3.5% CAGR between 2013 and
2019. In terms of volume of milk consumption, in 2013, the North
America milk market was pegged at 17.96 billion kg and is
estimated to grow to 21.05 billion kg by the end of 2019, growing
positively at a 2.13% CAGR through the forecast period.
According
to TMR, the growth of the North America milk market is largely
supported by a strong milk distribution network that ensures the easy
availability of milk in retail stores. Consumers are increasingly
wary of the nutritional value of food products that they consume,
making milk one of the preferred sources of nutrition, especially
calcium. The milk market in North America is also expected to be
buoyed by a change in eating patterns among consumers in this region.
Since 2011, the popularity of dairy products as an integral part of
dietary plans has contributed to a higher consumption of milk here.
The demand for this dairy product has been on the rise also owing to
a growing immigrant population in the United States and Canada. As
more immigrants, their families, and children move to the U.S. and
Canada, the demand for dairy products, especially milk, has been
rising over the past few years.
TMR’s
report on the North America milk market segments the industry based
on product type as: butter milk, concentrated milk, liquid milk, and
powder milk. The report studies three main countries – U.S.,
Canada, and Mexico – to determine and forecast demand and revenues
based on product type.
Within
the product segment, concentrated milk is estimated to register the
fastest growth. The growth rate of the concentrated milk segment is
pegged at 3.47% through the next six years. Another segment that will
show healthy growth is that of liquid milk. An expansion in this
segment will primarily arise from an increasing awareness about
meeting daily nutritional requirements and an improved overall
awareness about health. An ever-increasing network of hypermarkets
and supermarkets, resulting from stronger distribution channels, is
giving consumers easier access to milk at lower prices. This factor
can also be regarded as a growth driver in the North America milk
market.
Download
Free exclusive Sample of this
report:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2562
The
report anticipates private labels to lead in terms of market share,
over the next six years. Private labels are not only cost effective,
but also provide high-quality milk to consumers in North America.
After private labels, the largest share in the milk market in North
America was occupied by dairy farmers in 2013. TMR’s report
profiles leading market players in the North America milk industry
such as: Parmalat, Dairy Land, Neilson, and GrupoLala. The study
offers incisive insights into current North America milk market
trends and provides market forecasts from 2013 through 2019.
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