Milk - BRICS | Statista Market Forecast

Milk - BRICS

BRICS

Highlights

Revenue in the Milk market amounts to US$151.80bn in 2024. The market is expected to grow annually by 8.09% (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$46.04 are generated in 2024.
In the Milk market, volume is expected to amount to 112.20bn kg by 2029. The Milk market is expected to show a volume growth of 2.9% in 2025.0.
The average volume per person in the Milk market is expected to amount to 29.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in BRICS has seen minimal growth due to factors like changing consumer preferences, fluctuating milk prices, and increased competition. Despite this, the market is expected to grow in the future with the introduction of new milk products and technological advancements in the dairy industry.

Customer preferences: Changing consumer preferences are driving the growth of the Milk Market in the Dairy Products & Eggs Market within The Food market. With an increasing focus on health and wellness, there is a rising demand for organic and plant-based milk alternatives. Additionally, consumers are also seeking dairy products that are free from additives and preservatives. This trend is influenced by a growing awareness of the health benefits of consuming natural and clean-label food products.

Trends in the market: In the BRICS countries, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more sustainable milk products. This trend is driven by increasing consumer awareness of the health benefits of dairy products and the environmental impact of traditional dairy farming methods. As a result, there is a growing demand for organic, plant-based, and lactose-free milk alternatives. This trend is expected to continue in the coming years, with industry stakeholders exploring new product offerings and investing in sustainable production methods to meet the changing consumer preferences.

Local special circumstances: In Brazil, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by cultural factors. Milk is an important component of the Brazilian diet and is often used in traditional dishes. This has led to a high demand for milk and dairy products, creating a competitive market for producers. Furthermore, the country's regulatory environment favors domestic production, making it difficult for foreign companies to enter the market. Additionally, Brazil's large geographical size and diverse climate conditions also impact the production and distribution of milk, leading to regional variations in prices and availability.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with strong economic growth and favorable policies towards the dairy industry, such as Brazil and India in the BRICS group, are experiencing rapid market growth. In contrast, regions with economic challenges and limited government support, like South Africa, are facing slower market growth. Additionally, the increasing demand for dairy products due to a growing population and rising disposable income in emerging economies is also contributing 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.