North America Milk Market to Exhibit 3.5% CAGR from 2013 to 2019 due to Rising Health Concern among Consumers
Albany, NY -- (SBWIRE) -- 11/24/2017 -- A new market research report has been recently published by Transparency Market Research, a U.S.-based market research and intelligence firm. The research report provides an in-depth analysis of the milk market in North America, including market overview, product segmentation, and competitive analysis. The research report is titled "North America Milk Market - Scenario, Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019".According to the report, in 2012, the North America milk market stood at US$27.81 billion and in 2013, it was valued at US$29.1 billion. Going further, the milk market is projected to touch US$35.8 billion by the end of 2019, growing significantly at a 3.5% CAGR between 2013 and 2019. In terms of volume of milk consumption, in 2013, the North America milk market was pegged at 17.96 billion kg and is estimated to grow to 21.05 billion kg by the end of 2019, growing positively at a 2.13% CAGR through the forecast period.
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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.
For the purpose of geographical study, the North America milk market has been segmented into three regions, namely Mexico, the U.S., and Canada. Among these regions, the U.S. is the biggest producer of milk and other dairy products. The rising demand from the U.S. can be attributed to increasing health issues and need for food that contains high levels of nutrients.
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Furthermore, the research report discusses the competitive landscape of the North America milk market. In 2013, in the U.S., the Dairy Farmers of America accounted for the largest market share. Some of the prominent players operating in Canada are Neilson, Dairy land, and Parmalat, which held the largest share of the market in 2013. In the same year, GrupoLala led the market in Mexico. Some of the other leading players in the North America milk market are Saputo Inc., Dean Foods Co., and Groupe Danone.