Increase in health consciousness among consumers, surge in consumer spending, and rise in product awareness & knowledge through advertisements drive the growth of the global a2 milk market.
As per the report published by Allied Market Research, the global a2 milk market generated $1.12 billion in 2019, and is estimated to reach $3.69 billion by 2027, witnessing a CAGR of 15.8% from 2021 to 2027. The report offers an extensive analysis of changing market trends, major segments, key investment pockets, value chain, Porter’s Five Forces, and competitive scenario.
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According to Shankar Bhandalkar, the Team Lead, Food and Beverages at Allied Market Research, “A2 milk beverage offers a variety of advantages compared to conventional dairy milk. It is free from antibiotics, hormones, lactose and are hence suitable for people affected by the corresponding allergies or intolerances. In addition, the a2 milk also provides approximately higher nutritional value, taste, texture, and functionality as dairy beverage. These factors are among some crucial factors that drive the global a2 milk market.”
Increase in health consciousness among consumers, surge in consumer spending, and rise in product awareness & knowledge through advertisements drive the growth of the global a2 milk market. However, the higher price of a2 milk as compared to conventional milk hinders the market growth. On the other hand, utilization of a2 milk powder as an ingredient in infant formulas present new pathways in the coming years.
The report offers detailed segmentation of the global a2 milk market based on form, packaging form, distribution channel, and region.
Based on form, the liquid a2 milk segment held the highest share of the market in 2019, owing to its convenience and high rate of consumption. However, the powder a2 milk segment is projected to maintain the highest CAGR during the forecast period.
Based on distribution channel, the supermarket & hypermarket segment contributed to the highest market share in 2019. This is attributed to this channel providing high visibility and vital assortment of plant-based products for consumers. In addition, supermarket chain is among the highest visited stores to buy grocery items. However, the online retail segment is estimated to witness the fastest CAGR during the forecast period.
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Based on region, Asia-Pacific dominated the market in terms of revenue in 2019, and will maintain its highest contribution throughout the forecast period. This is attributed to the massive popularity and considerable consumption of a2 milk beverage in the region. Furthermore, the availability of cow breeds that produce a2 milk is abundant in the region. However, North America would manifest the highest CAGR from 2021 to 2027.
Leading players of the global a2 milk market discussed in the research include GCMMF (Amul), The a2 Milk Company Limited, Freedom Foods Group Limited, Erden Creamery Private Limited, Taw River Dairy, Provilac Dairy Farms Pvt. Ltd., Ripley Farms LLC, Lion Dairy & Drinks, Urban Farms Milk, and Vinamilk.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.