Milk - Americas | Statista Market Forecast

Milk - Americas

Americas

Highlights

Revenue in the Milk market amounts to US$62.70bn in 2024. The market is expected to grow annually by 5.01% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$71bn in 2024).
In relation to total population figures, per person revenues of US$61.66 are generated in 2024.
In the Milk market, volume is expected to amount to 58.23bn kg by 2029. The Milk market is expected to show a volume growth of 1.2% in 2025.0.
The average volume per person in the Milk market is expected to amount to 53.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in the Americas has seen minimal growth due to factors such as shifting consumer preferences towards plant-based milk alternatives, increasing competition from other dairy products, and the impact of the COVID-19 pandemic on supply chains and demand. Despite these challenges, the market is expected to continue growing due to the convenience and health benefits offered by milk consumption.

Customer preferences: Consumers in the Americas are increasingly gravitating towards plant-based milk alternatives, driven by health and environmental concerns. This trend is particularly strong among younger generations, who are more likely to embrace a vegan or flexitarian lifestyle. As a result, dairy companies are expanding their product offerings to include more non-dairy options, such as almond, soy, and oat milk. The rise of online grocery shopping and delivery services is also making it easier for consumers to access these plant-based milk products.

Trends in the market: In the Americas, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards plant-based milk alternatives, with consumers becoming more health-conscious and environmentally aware. This trend is expected to continue as more consumers seek out non-dairy options. Additionally, there is a growing demand for organic and hormone-free milk, as well as milk from grass-fed cows. These trends have significant implications for industry stakeholders, as they will need to adapt their production and marketing strategies to meet the changing preferences of consumers. This may also lead to increased competition in the market, as new players enter to cater to these emerging trends.

Local special circumstances: In the Americas, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by unique local factors. In the United States, the market is driven by consumer demand for organic and alternative milk products. In Mexico, government subsidies for dairy farmers and a growing health-conscious population have led to an increase in milk consumption. In Canada, strict regulations on dairy production and labeling have resulted in a highly competitive market. These factors greatly impact market dynamics in the region and contribute to the diverse landscape of the Milk Market.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in the Americas is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer spending patterns. The overall economic health of the region, as well as global economic trends, can impact the demand for milk and other dairy products. In addition, fiscal policies and regulations related to food safety and trade can also impact the market. Furthermore, consumer preferences for healthier food options and the increasing demand for plant-based alternatives are shaping the growth of the milk market in the Americas.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.