Sheep Milk Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Category (Organic and Conventional) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others) and Geography
発行: The Insight Partners
ページ情報: 英文 101 Pages
The sheep milk market was valued at US$ 6,129.64 million in 2021 and is projected to reach US$ 8,095.61 million by 2028; it is expected to grow at a CAGR of 4.1% from 2021 to 2028.
Sheep milk, also known as ewe's milk, is obtained from domestic sheep. Several sheep breeds are farmed to get wool and are further used for meat and milk; however, a few specialized breeds are only utilized for commercial dairy products as they have a higher yield and longer lactating period. Sheep milk has been utilized since primordial time, owing to its high acceptability and digestibility to the human digestive system. It is further considered to be a healthy alternative to cow and goat milk, as it offers resistance against certain diseases and has antiallergenic properties. It mainly consists of a high amount of protein (5.4%); lactose (4.9%); lipid fat (6.4%); saturated fatty acids; carbohydrates; unsaturated fatty acids, including oleic acid, conjugated linoleic acids, and trans-fatty acids; vitamins, such as vitamin B12, vitamin B5, vitamin A, vitamin B2, vitamin B1, vitamin C; minerals, such as phosphorus and calcium; and amino acids, such as tryptophan, valine, threonine, isoleucine, leucine, lysine, and histidine.
Based on category, the sheep milk is segmented into organic and conventional. In 2020, the conventional segment accounted for a larger market share. Conventional sheep milk is obtained from sheep fed with conventionally grown feed i.e., with the application of chemicals. The majority of the dairy farmers use conventional sheep farming practices to deliver milk to consumers as it is more economical. Conventional farming is known as one of the most popular as well as preferred farming methods, owing to its price and easy availability. All these factors have led to a significant rise in demand for conventional sheep milk.
Geographically, the sheep milk market is segmented into North America, Europe, Asia-Pacific (APAC), South & Central America (SAM), and Middle East & Africa (MEA). Asia-Pacific held the largest revenue share of the global sheep milk market. Steady growth in the middle-class population, coupled with a rise in urbanization in the countries, creates lucrative opportunities for the major market players. Due to the ever-increasing disposable income of the middle-income group population, people are willing to pay higher prices for food products such as sheep milk, which is comparatively expensive than cow milk. Change in consumer preferences for taste, increase in demand for high-protein and high-energy products, rise in demand for sheep milk from health-conscious consumers, and the easy availability of various product variants, are boosting the growth of the sheep milk market in Asia-Pacific. A few key players operating in the Asia-Pacific sheep milk market are Fernglen Farm, Origin Earth Ltd., Sheep Milk Company Ltd., and Spring Sheep Milk Co., among others. The key manufacturers are highly focused on developing high-quality and innovative products to meet the consumer's requirements through research & development, technological advancement, and other strategies.
The ongoing COVID-19 pandemic has massively affected the dairy industries in different countries, including China and the US, owing to decreased farmgate milk prices, worker shortages, disruption & difficulties of moving milk within the supply chains, increased production costs, and the lack of operating capital. However, the COVID-19 pandemic also had a massive impact mainly on how consumers shop, eat, and live. Lockdowns, as well as restaurant closures, have further contributed to an increase in the number of meals cooked and eaten at home, spurring meaningful growth across dairy products such as fluid milk and other milk-made products. Retail-facing dairy industries have benefited from these consumer trends. McKinsey company had conducted the third annual US dairy consumer survey with more than 1,000 respondents in October 2020. In addition, with the relaxation of restrictions on personnel movement and the lifting of lockdown measures, the global sheep milk market is presumed to witness notable growth in the coming years since people are aware of its nutritious value. Sheep milk contains nearly one-third more energy as compared to cow or goat milk (which makes it a favorite of high-performance athletes). It also has double the protein and much more of the right kinds of fats, vitamins, and minerals, particularly calcium, iron, phosphorus, magnesium, and zinc, while being lower in sodium. In addition, the growing demand for food products, especially packaged food & beverages, owing to the COVID-19 outbreak, is driving the demand for sheep milk from the food industry. Amid the COVID-19 pandemic, consumers are focused on maintaining their health, which is likely to boost sales of food products such as sheep milk globally. In the current situation, it is essential to raise immunity to combat the novel coronavirus and maintain hygiene and adhere to all medical advice. Furthermore, the rising demand for essential food products would propel the market growth during the forecast period. The COVID-19 pandemic has had a mild impact on the sheep milk market during the initial phase. However, the market is gaining share during the second wave of COVID-19, and post-pandemic, it is expected to gain significant growth in the coming years.
Origin Earth Limited, Sheep Milk Company Ltd., Velvet Cloud, Best Baa Dairy Limited, OVINO, Secret Lands Farm, and Fernglen Farm are among the well-established players operating in the global sheep milk market.
The overall global sheep milk market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global sheep milk market.
Highlights key business priorities to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global sheep milk market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.