Abundant in proteins, minerals, and vitamins, A2 milk has recently grown in popularity due to its health and nutritional benefits, with recent studies even suggesting that it could be suitable for lactose-intolerant consumers.
New market research has revealed that this type of dairy beverage could also be good for investors and manufacturers. A report published by Market Research Future estimates that the A2 milk market will grow at a staggering CAGR of 18.94% in the period to 2030.
Asia-Pacific, which made up almost 41% of the market size in 2017, is projected to continue to grow healthily, with Australia and New Zealand expected to hold the largest market share and India showing the strongest growth over the forecast period, at 15.3%.
Europe meanwhile is set to register the second-highest share, with North America also predicted to grow substantially.
By the end of 2030, the market is estimated to reach US$26.9bn, according to the report.
Health-conscious consumers key to growth
The growing popularity of functional dairy and the consumers’ awareness of the benefits of A2 milk are among the main market drivers, with demand for A2 milk-based infant formula also a contributing factor. “In the years to come, it is anticipated that new products like A2 milk in varieties with reduced fat, fat-free, and sugar-free options will assist fuel market expansion,” the researchers said.
By distribution, the supermarkets segment is expected to keep its lead, whilst in terms of packaging, carton is set to be popular with manufacturers for providing a longer shelf-live.