Milk - Bosnia and Herzegovina

Bosnia and Herzegovina

Highlights

Revenue in the Milk market amounts to US$139.10m in 2024. The market is expected to grow annually by 5.08% (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$43.54 are generated in 2024.
In the Milk market, volume is expected to amount to 94.61m kg by 2029. The Milk market is expected to show a volume growth of 1.8% in 2025.0.
The average volume per person in the Milk market is expected to amount to 27.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Bosnia and Herzegovina is experiencing minimal growth, influenced by factors such as low consumer awareness and limited availability of digital technologies. Despite this, the convenience of online health services and increasing health consciousness are driving the market towards growth.

Customer preferences: As health awareness continues to rise in Bosnia and Herzegovina, consumers are increasingly seeking healthier and more sustainable options in the Milk Market of the Dairy Products & Eggs Market within The Food market. This trend is driven by a growing focus on organic and locally sourced dairy products, as well as a shift towards plant-based alternatives. Additionally, with the rise of social media and digital platforms, consumers are also seeking more information and transparency about the source and production process of their dairy products.

Trends in the market: In Bosnia and Herzegovina, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing an increase in demand for organic and locally sourced dairy products. This trend is driven by a growing consumer preference for healthier and more sustainable food options. As a result, dairy producers are adapting their production methods and expanding their product offerings to meet this demand. This trend is expected to continue, with potential implications for industry stakeholders including increased competition and the need for innovative marketing strategies to target health-conscious consumers.

Local special circumstances: In Bosnia and Herzegovina, the Milk Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's strong dairy farming tradition and the high demand for locally produced, organic products. The cultural preference for fresh, locally sourced milk and dairy products has led to the dominance of small-scale, family-owned farms in the market. Additionally, the country's geographical location and climate allow for year-round grazing, resulting in a steady supply of high-quality milk. These factors contribute to the unique flavor and quality of Bosnian dairy products, making them highly sought after in the market.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Bosnia and Herzegovina is influenced by macroeconomic factors such as consumer purchasing power, import/export policies, and government subsidies. The country's economy has been steadily growing, with a strong focus on agriculture and food production. This has resulted in increased demand for dairy products, leading to a rise in milk production and consumption. Additionally, the government has implemented policies to support the growth of the local dairy industry, such as providing subsidies for farmers and promoting domestic production. However, challenges such as rising inflation and trade barriers with neighboring countries may impact market performance in the future.

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.