Technavio analysts forecast the global organic milk market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global organic milk market to grow at a CAGR close to 5% by 2023 (Graphic: Business Wire)
The growing use of innovative packaging is one of the major trends being witnessed in the global organic milk market 2019-2023. Players and manufacturers in the global organic milk market are presenting their product offerings in new packaging formats to increase the shelf-life of the products and to revive consumer interest in their products. Moreover, product packaging is considered a silent salesman of the product. Labeling, nutritional and dietary instructions, and brand stories make products stand out. Thus, creative packaging and branding add to the appeal and are major factors of differentiation for manufacturers and marketers. Vendors are introducing more sustainable, user-friendly, convenient, and high-quality packaging. New packaging technologies and formats used by vendors in the global organic milk market include controlled atmosphere packaging, modified atmosphere packaging, intelligent packaging, and active packaging. Therefore, with such initiatives, the market is expected to boost the growth of the market.
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According to Technavio analysts, one of the key factors contributing to the growth of the global organic milk market is the growing product launches:
Global organic milk market: Growing product launches
With product launches, vendors are introducing new product varieties and innovative products, such as different flavors of organic milk, in the global organic milk market. Successful product launches help in increasing revenue flow and expanding consumer base of the players in the market. Thus, it is an important growth driver. More players in the market are launching products to cater to the evolving consumer demands and drive store sales. Players focus on innovation, product line extension, and diversification. Many players in the market are expanding their product portfolios to include organic milk-derived products such as organic yogurt, butter, cream, and flavored milk. For instance, Maple Hill Creamery launched its 100% grass-fed organic whole milk in a family-sized 64-ounce half gallon pack. Thus, with such packaging innovations, the market for organic milk is expected to register a positive outlook during the forecast period.
According to a senior analyst at Technavio, “One of the primary factors propelling the growth of the global organic milk market has been the reducing barriers for purchase. In addition to rising purchasing power, the increasing availability of organic milk in retail markets has aided its adoption. Supermarkets and hypermarkets are the largest distribution channels for organic milk globally. In 2017, in the UK, modern trade retailers accounted for a majority of the organic milk sales, with approximately half of the sales originating from Tesco and Sainsbury.”
Global organic milk market: Segmentation analysis
The global organic milk market research report provides market segmentation by product (skimmed organic milk and partly skimmed and whole organic milk), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The EMEA region held the largest share of the market in 2018, accounting for over 51% share, followed by the Americas and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period followed by the Americas.
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