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North America Milk Market to Exhibit 3.50% CAGR from 2013 to 2019

Jan 9th 2019 at 12:24 AM

A new market research report, titled “North America Milk Market - Scenario, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019,” has been recently published by a global market intelligence firm, Transparency Market Research. The study provides a comprehensive analysis of the North America milk market, focusing on the product portfolio, major driving factors, barriers, growth opportunities, current trends, and competitive scenario.

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The growing demand for innovative and new products including flavored milk, increasing health concerns among the population, and increasing distribution channels such as supermarkets, hypermarkets, retail stores, and convenient stores are some of the key factors that are expected to augment the growth of the milk market in North America in the next few years. On the flip side, the availability of several substitutes including soy milk, almond milk, and others and the low shelf life of dairy products are the factors that are expected to hamper the growth of the market in the next few years.

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.

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.

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.

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