The size of the North America Milk Market is estimated to reach $96.4 billion by 2027 and it is poised to grow at a CAGR of 3.3% over the forecast period of 2022-2027. Consumers are more aware of the benefits of consuming milk. This is because of the nutritional value of milk, as it contains essential carbohydrates, calcium, phospholipids, riboflavin and other minerals. The consumption of milk and milk products is increasing in this region. The milk production in the 24 major states during April 2022 was 18.3 billion pounds and the production in the United States rounds up to 19.2 billion pounds, as per the U.S. Agricultural Department’s Foreign Agricultural Service (USDA FAS). With the growing production, the availability of per capita milk is increased, which helps to grow the North America Milk Market over the forecast period 2022-2027. 

North America Milk Market Growth Drivers:

Growing Demand for Milk Products:

The US consumption of milk fat continued to increase in 2021. As per a dairy report published by USDA, the consumption of milk fat in 2021 increased by 4 billion pounds over 2020. Also, the production of milk solids is steadily increasing from 2.6% in March 2020 to 5.5% in May 2021. Such growth in production increases the availability of milk products in this region and accelerates market growth. Furthermore, the consumption of dairy products such as cheese has increased by 3% in 2021. Such increasing availability and consumption of dairy products fuel the growth of the North America Milk Market over the forecast period 2022-2027.

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New Innovative Product Launches by Key Market Players: 

The high nutritious value of milk and its growing demand encourage market players to launch new flavors and products into the market while taking market demand into consideration. In February 2022, Ben & Jerry's launched its newest ice cream flavor, Chewy Gooey Cookie. This Chewy Gooey Cookie is available in the US market from the first quarter of 2022 from $4.99 to $5.49. Also, in March 2022, Danone North America launched Activia + multi-Benefit probiotic yogurt drinks and is available in 3.1-fluid-ounce bottles for $4.59 per six-pack. Such innovative product launches along with other developments by key players in the market fuel the growth of the North America Milk Market. 

R&D Investment:

In February 2022, the Kraft Heinz Company and TheNotCompany, Inc. announced a joint venture. The joint venture would operate under the control of Kraft Heinz as The Kraft Heinz Not Company LLC. 

The Major Players in this Market Include

The major companies in the North America Milk Market include Nestle S.A., Dairy Farmers of America, Danone S.A., Land O’Lakes Inc, The Kraft Heinz Company, Agropur Cooperative, Lactalis Group, The Hershey Company, Fairlife LLC and Dean Food Company. 

In July 2022, Danone launched the new Dairy & Plants Blend baby formula ‘Aptamil’ with 60% plant protein. 

The rise in the North America Milk Market is driven by the growing production, increase in consumption and easy availability of various milk products.

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