Milk - Armenia | Statista Market Forecast

Milk - Armenia

Armenia

Highlights

Revenue in the Milk market amounts to US$200.80m in 2024. The market is expected to grow annually by 5.63% (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$72.29 are generated in 2024.
In the Milk market, volume is expected to amount to 150.00m kg by 2029. The Milk market is expected to show a volume growth of 2.8% in 2025.0.
The average volume per person in the Milk market is expected to amount to 46.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Armenia is experiencing minimal growth, influenced by factors such as the country's traditional dairy consumption habits and lack of technological advancements. Despite this, increasing health consciousness among consumers is driving demand for healthier milk options.

Customer preferences: As the demand for healthier and more sustainable food options rises, there is a growing trend towards plant-based dairy alternatives in Armenia. This is driven by a growing awareness of the environmental impact of dairy production and a desire for more ethical and cruelty-free food choices. Additionally, with an increasing focus on health and wellness, there is a growing demand for fortified milk alternatives, such as almond milk and soy milk, which offer additional health benefits. This shift towards plant-based dairy products is expected to continue as more consumers prioritize health and sustainability in their food choices.

Trends in the market: In Armenia, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more sustainable options. Consumers are increasingly seeking out organic and locally sourced milk, as well as plant-based alternatives. This trend is driven by a growing awareness of the environmental and health benefits of these products. Industry stakeholders must adapt to these changing preferences by diversifying their product offerings and investing in sustainable production methods. Additionally, there is a growing demand for innovative packaging solutions that reduce food waste and extend shelf life. These trends have significant implications for the industry, as companies that fail to meet consumer demands for healthier and more sustainable options risk losing market share to competitors. However, those that embrace these trends and invest in responsible and innovative practices can gain a competitive advantage and capitalize on the growing demand for ethical and eco-friendly products.

Local special circumstances: In Armenia, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's small land area and mountainous terrain. These factors make dairy farming a challenging and labor-intensive practice, resulting in higher production costs and limited supply. Moreover, the cultural preference for fresh, locally-sourced dairy products, as well as strict regulations on food imports, further shape the dynamics of the market. As a result, Armenian consumers are willing to pay a premium for high-quality dairy products, and local producers have a strong hold on the market.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Armenia is influenced by several macroeconomic factors. The country's economic health and fiscal policies play a significant role in the market performance. Additionally, global economic trends, such as changes in consumer preferences and demand for dairy products, also impact the market. Furthermore, government initiatives and investments in the dairy sector, along with the overall agricultural sector, can have a significant effect on the growth of the market. The increasing population and rising disposable incomes in Armenia also contribute to the demand for dairy products, leading to market growth.

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.