North America Milk Market Driven by Growing Demand for Innovative & New Products

According to the research study, in 2012, the milk market in North America was worth US$27.8 bn and further back, in 2013 the market was valued at US$29.1 bn. The market is estimated to reach a value of US$35.8 bn by the end of 2019, exhibiting a 3.50% CAGR between 2013 and 2019. On the basis of volume, in 2013, the milk market in North America stood at 17.96 bn kg and is projected to be 21.05 bn kg by the end of 2019, growing at a 2.1% CAGR between 2013 and 2019.

Rising health concerns among consumers, increasing demand for new and innovative products such as flavored milk, and widening distribution channels such as hypermarkets and supermarkets are some of the major factors expected to fuel the growth of the North America milk market in the forecast period. On the other hand, availability of a wide range of substitutes such as almond milk, soy milk, and others, and short shelf life of milk and dairy products are the restraining factors anticipated to curb the growth of this market in the coming years.On the basis of products, the North America milk market has been segmented into powder milk, liquid milk, butter milk, and concentrated milk. Among all the product categories, concentrated milk is growing rapidly in the North America milk market. This segment is estimated to grow progressively at a 3.47% CAGR in the forecast period. On the other side, the liquid milk segment is also anticipated to grow significantly in the coming years, owing to the rising awareness among consumers regarding the health and daily nutritional requirement of the human body.

On the basis of product type, the milk market in North America has been classified into concentrated milk, powder milk, butter milk, and liquid milk. Among all these types, the concentrated milk segment is expected to grow rapidly throughout the forecast period. This segment is projected to exhibit a 3.47% CAGR between 2013 and 2019. Nevertheless, the liquid milk segment is anticipated to grow substantially in the coming years, thanks to the growing awareness among the population about the daily requirement of nutrients and a healthy diet to maintain a healthy lifestyle.

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On the basis of geography, the milk market in North America has been divided into the U.S., Canada, and Mexico. The U.S. is considered as the largest producer of milk and other dairy products. In addition, the growing health concerns and rising demand for food that has a high nutritional value are some of the other factors that are estimated to boost the demand for milk in this region.

Furthermore, the research study covers the competitive scenario of the milk market in North America, including detailed profiles of the major players operating in the market. In 2013, the Dairy Farmers of America held the largest share in the overall U.S. milk market. The prominent players operating in the milk market in Canada include Dairy land, Neilson, and Parmalat, which collectively held the largest share in the market in this region in 2013. Furthermore, in the same year, in Mexico, GrupoLala dominated the milk market. Some of the other players in the North America milk market are Dean Foods Co., Saputo Inc., and Groupe Danone.