Milk - New Zealand | Statista Market Forecast

Revenue in the Milk market amounts to US$337.80m in 2024. The market is expected to grow annually by 4.71% (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$64.09 are generated in 2024.
In the Milk market, volume is expected to amount to 186.20m kg by 2029. The Milk market is expected to show a volume growth of 1.6% in 2025.0.
The average volume per person in the Milk market is expected to amount to 32.6kg in 2024.

Definition:

Milk is defined as a protein- and fat-rich opaque white or creamy-colored fluid. This combination of nutrients can also be milked from other animals such as sheep and goats, but from an economic perspective, cow's milk remains the world's most important dairy product.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Regular fresh milk
Full-fat milk, reduced-fat milk, low-fat milk, skimmed milk, semi-skimmed milk
Regular pasteurized milk, ultra-pasteurized (UHT) milk, raw milk
Flavored milk, barista milk
Lactose-free milk

Preserved and powdered milk
Yogurt drinks
Non-dairy milk substitutes
Out-of-home consumption

The Milk Market in New Zealand's Dairy Products & Eggs Market, within The Food market, is experiencing minimal growth. Factors such as changing consumer preferences and increased competition are impacting this growth rate. However, the convenience of online services and rising health consciousness may drive future growth.

Customer preferences: Consumer preferences in New Zealand's Milk Market are rapidly shifting towards healthier and more sustainable options. This trend is driven by growing awareness about the environmental impact of dairy production and a desire for plant-based alternatives. As a result, there has been an increase in demand for vegan milk products such as almond, oat, and soy milk. Additionally, consumers are also seeking out locally sourced and organic milk, reflecting a preference for sustainable and ethically produced options. This shift towards healthier and more sustainable milk choices is also influenced by changing lifestyle factors, such as an increased focus on personal health and wellness.

Trends in the market: In New Zealand, the Milk Market within the Dairy Products & Eggs Market is experiencing a shift towards healthier, plant-based milk alternatives. This trend is driven by increasing health consciousness and concerns over environmental sustainability. As a result, there has been a rise in demand for almond, soy, and oat milk. This trajectory is significant as it presents both opportunities and challenges for industry stakeholders. While it opens up new markets, it also poses a threat to traditional dairy farmers. Furthermore, the potential for innovation and diversification in the market is also evident, with companies developing new plant-based milk products and flavors. Overall, this trend is expected to continue, with plant-based milk projected to make up a significant portion of the dairy market in the coming years.

Local special circumstances: In New Zealand, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong dairy industry and its reputation for producing high-quality dairy products. The country's favorable climate and fertile land make it an ideal location for dairy farming, and strict regulations ensure the safety and quality of the milk produced. Additionally, New Zealand's cultural preference for dairy consumption and its strong export market for dairy products play a significant role in shaping the dynamics of the Milk Market.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in New Zealand is strongly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's stable economy and favorable business environment have supported the growth of the dairy industry, making New Zealand one of the top exporters of dairy products. The government's support for the dairy sector through policies such as subsidies and trade agreements has also contributed to its success. Additionally, the growing demand for healthy and natural food products worldwide has driven the demand for New Zealand's high-quality milk and dairy products.

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.