North America Milk Market Rides on Growing Health Concerns and Change in Food Habits
North America Milk Market - Scenario, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019
If there is one aspect of daily diet that is universal, it has to be milk. No matter where you live or which language you speak, milk forms an irreplaceable part of one’s diet due to the high nutritional value and health benefits it offers. In recent years, North America has emerged as a flourishing market for milk and dairy products. Factors such as growing health concerns, shift in lifestyle preferences, and growing inclination towards healthier food habits have fuelled the demand for milk and dairy products in the region. In fact, reports indicate steadily rising market share of private labels across Canada and Mexico owing to high quality and low price of milk available in the region. The market for milk in North America is expected to reach US$35.8 billion by the end of 2019 at a CAGR of 3.5%. In terms of volume, the consumption of milk in North America is anticipated to grow from 17.96 billion kgin 2013 to 21.05 billion kg in 2019 at a CAGR of 2.13%.
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Canada and the U.S. Lead the Milk Market in North America
The milk market in North America is highly fragmented and competitive by nature. This has led to greater product innovation and availability of milk in different forms such as buttermilk, flavored milk, powder milk, and liquid milk, which has further contributed to the growth in demand for milk in the region. Given theavailability of different types of dairy products in the region and the increasing influx of immigrants and their families in countries such as the United States and Canada,the demand for milk and other dairy products will substantially increase.
The milk market in North America has...