Milk - South America | Statista Market Forecast

Revenue in the Milk market amounts to US$15.90bn in 2024. The market is expected to grow annually by 7.68% (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$38.49 are generated in 2024.
In the Milk market, volume is expected to amount to 14.85bn kg by 2029. The Milk market is expected to show a volume growth of 1.4% in 2025.0.
The average volume per person in the Milk market is expected to amount to 33.5kg 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 South America is experiencing minimal growth due to various factors such as low consumer awareness, limited access to online services, and a traditional preference for fresh milk. However, increasing health consciousness and government initiatives to promote dairy consumption are expected to drive market growth in the coming years.

Customer preferences: In South America, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a rise in demand for organic and plant-based milk alternatives, driven by growing health consciousness and environmental concerns. This shift towards healthier and sustainable options is also reflected in the increasing popularity of locally-sourced and artisanal dairy products. Additionally, the rise of e-commerce in the region has opened up new avenues for small and niche dairy producers to reach a wider consumer base.

Trends in the market: In South America, the Milk Market within the Dairy Products & Eggs Market is experiencing a rise in demand for organic and plant-based milk products. This trend is driven by an increasing awareness of health and environmental concerns, as well as a growing interest in alternative sources of protein. This trajectory is significant as it reflects a shift towards more sustainable and health-conscious consumption habits. Industry stakeholders should take note of this trend and consider incorporating more plant-based options in their product offerings to stay competitive in the market.

Local special circumstances: In South America, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's rich agricultural traditions and diverse cultural preferences. For instance, in Argentina, dairy products are a staple in the traditional diet, driving the demand for locally produced milk. In contrast, the Brazilian market is shaped by a growing health and wellness trend, with an increasing demand for organic and plant-based milk alternatives. Additionally, varying regulatory frameworks across countries also impact the production and distribution of milk, creating unique market dynamics in each country.

Underlying macroeconomic factors: The South American Milk Market in the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer purchasing power. Countries with strong economic growth, stable political environments, and supportive policies for the dairy industry are experiencing higher demand for milk products. In addition, increasing urbanization and changing dietary preferences towards healthier and protein-rich diets are also driving the growth of the milk market in the region. However, challenges such as price volatility and supply chain inefficiencies can hinder market growth in certain countries.

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.