North America Milk Market - Forecast(2023 - 2028)

North America Milk Market Overview

North America Milk Market Size is estimated to reach $96.4 billion by 2027 and is poised to grow at a CAGR of 3.3% over the forecast period of 2022-2027. Milk is an excellent source of vitamins and minerals derived from animals such as cattle, buffalo, goats, sheep & others and plant sources such as almonds, coconut, rice, soy, pea oats and others. Milk contains important nutrients like calcium, protein, vitamin A, vitamin D, magnesium, potassium, carbohydrates, phospholipids, riboflavin, lactose, phosphorous and others. Commercially, milk is distributed after processing in various forms such as pasteurized milk, toned milk, full-fat milk, skimmed milk, flavored milk, Lactose-Free, vegan milk and in other by-products. As per the international dairy food association (IDFA), in 2020, the average American consumed 655 pounds of dairy in milk, cheese, yogurt, ice cream, butter and other types of dairy products. Ice cream held a 4% increase in year-over-year growth in 2020, while yogurt and butter held a 2% and 3% increase, respectively, in consumption. Such growing demand for milk and milk products in North America drives the growth of the North America Milk Industry over the forecast period 2022-2027.

North America Milk Market Report Coverage

The report: “North America Milk Market Forecast (2022-2027)" by IndustryARC, covers an in-depth analysis of the following segments in the North America Milk Market.

By Source: Animal (Cattle, Buffalo, Goat, Sheep and Others) and Plant (Almond, Coconut, Rice, Pea, Soy, Oats and Others).
By Form: Powder and Liquid.
By Products: Butter, Cheese, Yogurt and Others.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Store, Speciality Stores, E-commerce and Others.
By Country: The US, Canada and Mexico.

Key Takeaways

North America Milk Market: Market Share (%) by Form, 2021

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North America Milk Market Segment Analysis - By Source

The North America Milk Market based on the source can be further segmented into animals (Cattle, Buffalo, Goat, Sheep and Others) and Plant (Almond, Coconut, Rice, Pea, Soy, Oats and Others). The Animal Source Cow Milk segment held a dominant market share in 2021. This is due to the growing demand for cow milk owing to its high nutritional content like carbohydrates, calcium, phospholipids, riboflavin, lactose and low fat than other types of milk. Cow milk is also regarded to be the same as mother milk. As a result, there is a growing need for cow milk in this area to feed babies. Such attributes of cow milk boost the growth of the North America Milk Market Share. However, Plant-based or Vegan milk is estimated to grow with a CAGR of 4.5% over the forecast period 2022-2027. This is because of the growing demand for plant-based vegan milk due to the increasing vegan population and growing cases of lactose intolerance in this region. As per the Alliance for Science survey findings, in January 2022, about 10% of Americans consider themselves vegan or vegetarian. Such a growing population of vegan people fuels the growth of the North America Milk Industry over the forecast period 2022-2027.

North America Milk Market Segment Analysis - By Form

The North America Milk Market based on the form can be further segmented into Powder and Liquid. The Liquid segment held a dominant market share in 2021. This is the result of the increasing demand and consumption of liquid milk. The annual survey of manufacturers in 2020 by the USDA showed that fluid milk manufacturing generated $3,81,37,148 in sales value of shipments. Such growing demand for fluid milk drives the growth of the North America Milk Market Share. However, dry powder form is estimated to grow with the fastest CAGR of 4.7% over the forecast period 2022-2027. This is owing to its high shelf life, easy storage, economic transportation and high commercial applications in food and beverage, cosmetics and nutraceuticals. All Americans Food offer various formulation with non-fat dry milk powder. Such growing demand for dry milk powder and its commercial applications fuel the growth of the North America Milk Market Share over the forecast period 2022-2027.

North America Milk Market Segment Analysis - By Country

The North America Milk Market based on the country can be further segmented into the US, Canada, Mexico and Others. The United States held a dominant market share of 67% in 2021 and is estimated to grow at the fastest CAGR over the forecast period 2022-2027. This is owing to the highest milk production in California, Wisconsin and Texas. Also, the growing export from this region to South Korea, Japan, the Philippines and others fuels the growth of the market. Such growing production and demand for export by other countries drive the growth of the North America Milk Market over the forecast period 2022-2027.

North America Milk Market Drivers

Growing Demand for Flavoured Milk:

The demand for flavored milk is increasing because of its delicious taste and fruit flavors with nutritional benefits of carbohydrates, calcium, phospholipids, riboflavin and lactose. The demand for flavor-added milk in North America is increasing as a result of a changing nutritional landscape and a growing interest in healthy beverages. Young adults are the main driver of the flavored milk market's expansion in the United States. The sector is changing due to its increasing consumption. As per dairy foods in 2020, the sale of flavored milk rose by 3.1% to $1564.2. Such increasing demand for flavored milk fuels the growth of the North America Milk Market Share.

Growing Export of Milk and Milk Products:

The export of milk and milk products from the North American region to the global market is increasing. The USDA's Margin Protection Program for Dairy encourages supply despite falling sales, contributing to an expanding milk surplus. According to the United States Trade Representative, from January through October 2021, the United States exported $478 million of dairy products to Canada, which was the third largest export destination for US dairy products. Such growing export of milk and milk products from North America drives the growth of the North America Milk Market over the forecast period 2022-2027.

North America Milk Market Challenge

Growing Incidence of Lactose Intolerance:

The increasing incidence of lactose intolerance in this region hampers the market growth, as lactose intolerance disorder is very common and affects millions of people in the United States. As per the Children’s Hospital Organisation, about 30 to 50 million Americans are lactose intolerant. Such a growing number of people with lactose intolerance may stymie the growth of the North America Milk Market.

North America Milk Industry Outlook:

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the North America Milk Market. The top 10 companies in the North America Milk Market are:

1. Nestlé S.A.
2. Dairy Farmers of America, Inc.
3. Danone S.A.
4. Land O’Lakes, Inc.
5. The Kraft Heinz Company
6. Agropur Cooperative
7. Lactalis Group
8. The Hershey Company
9. Fairlife LLC
10. Dean Food Company

Recent Developments

• In May 2022, Danone announced that it agreed to sell to Mengniu the 25% stake the company holds in Yashili and the 20% stake it holds in the Inner Mongolia Dairy Joint Venture. In parallel, Danone would acquire from Yashili 100% of Dumex Baby Food Co Ltd, a Chinese manufacturer of Infant Milk Formula products.

• In February 2022, Nestle announced the creation of the Nestlé Institute of Agricultural Sciences. The new institute would focus on the areas of plant science, dairy livestock and agricultural systems science.

• In June 2019, global agricultural cooperatives, the US-based Land O'Lakes, Inc. and the Netherlands-based Royal Agrifirm Group announced a dairy animal feed joint venture in China.

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