Market Insights Consumer Food Dairy Products & Eggs

Milk - South Africa

South Africa

Revenue in the Milk market amounts to US$0.72bn in 2024. The market is expected to grow annually by 4.10% (CAGR 2024-2029).
In global comparison, most revenue is generated in India (US$71bn in 2024).
In relation to total population figures, per person revenues of US$11.23 are generated in 2024.
In the Milk market, volume is expected to amount to 0.44bn kg by 2029. The Milk market is expected to show a volume growth of 0.8% in 2025.
The average volume per person in the Milk market is expected to amount to 6.6kg in 2024.

Key regions: Russia, India, Canada, Japan, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

In South Africa, the Milk Market in the Dairy Products & Eggs Market within The Food market is experiencing negligible growth. This is influenced by factors such as fluctuating consumer demand, increasing competition, and changing consumer preferences. Despite this, the market remains stable due to its essential nature and consistent demand from the food and beverage industry.

Customer preferences: As consumer consciousness regarding health and wellness continues to rise in South Africa, there has been a noticeable shift towards plant-based milk alternatives in the Milk Market of the Dairy Products & Eggs Market within The Food market. This trend is largely driven by cultural preferences for non-dairy options and a growing concern for animal welfare. Additionally, the increasing prevalence of lactose intolerance and other dietary restrictions has also contributed to the demand for non-dairy milk.

Trends in the market: In South Africa, the Milk Market of the Dairy Products & Eggs Market within The Food market is seeing a rise in demand for organic and plant-based milk alternatives. This trend is driven by health-conscious consumers looking for dairy-free options, as well as environmental concerns. Additionally, there is a growing trend of online grocery shopping, which is expected to further boost the sales of milk products. These trends have significant implications for industry stakeholders, as they need to adapt to changing consumer preferences and invest in online retail channels to remain competitive in the market.

Local special circumstances: In South Africa, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's diverse cultural landscape. The demand for dairy products and eggs is driven by traditional dishes and customs, making it a staple in the local diet. Additionally, regulations regarding food safety and labeling play a significant role in shaping the market. The country's geographical location and climate also impact milk production and availability, leading to fluctuations in prices and supply.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in South Africa is strongly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. With a growing population and increasing disposable income, South Africa has a high demand for dairy products and eggs. However, the market is also impacted by factors such as exchange rates, inflation rates, and government subsidies. Furthermore, the country's economic stability and investment in agricultural infrastructure also play a significant role in the growth and performance of the milk market.

Methodology

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.