Summary

Goat milk has been consumed in Bangladesh for generations and is a part of traditional diets. It is used in various culinary preparations, including desserts, sweets, curries, and beverages. Goat milk products are often associated with festivals and celebrations in Bangladesh. For example, during the Islamic festival of Eid-ul-Adha, which involves the sacrificial slaughter of goats, goat milk-based sweets and desserts, such as kheer (rice pudding) and firni (a type of milk-based dessert), are commonly prepared and shared with family and friends. Goat milk products are used in various traditional Bengali dishes. For instance, goat milk-based yogurt, known as "doi," is a popular ingredient used in curries and side dishes. Goat milk is also used to make sweets and desserts like "rasmalai" (cheese dumplings in sweet milk) and "misti doi" (sweetened yogurt). In rural areas, goat milk products are often produced using traditional and artisanal methods. This includes making goat milk-based yogurt and cheese using traditional techniques passed down through generations. Goat milk is sometimes used in traditional medicine and is believed to have various health benefits. It is often recommended for individuals with certain health conditions, such as digestive issues, respiratory problems, and skin ailments. In some rural areas of Bangladesh, goat milk collection follows a seasonal pattern. During the rainy season, when goats have access to fresh grass and foliage, milk production tends to be higher, leading to an abundance of goat milk for consumption and processing into various products.

According to the research report "Bangladesh Goat Milk Product Market Overview, 2028," published by Bonafide Research, the Bangladesh Goat Milk Product market was valued at USD 237.51 Million in 2022. The urban market in Bangladesh is emerging as a key growth area for goat milk products. Urban consumers, with higher disposable incomes and a preference for premium and healthy food options, are driving the demand for these products. Retail outlets in urban areas are responding by expanding their offerings of goat milk products. The market for value-added goat milk products is expanding in Bangladesh. Producers are focusing on developing innovative and unique products, such as flavored goat milk beverages, fortified goat milk powder, goat milk-based baby formulas, and beauty and skincare products containing goat milk. Halal certification is important in the goat milk product market in Bangladesh, given the predominantly Muslim population. Producers are seeking halal certification to ensure compliance with Islamic dietary requirements, making their products more appealing to Muslim consumers. Goat farming and the production of goat milk products play a significant role in the livelihoods of many rural communities in Bangladesh. It provides income opportunities for small-scale farmers, especially women, and contributes to poverty alleviation and sustainable rural development. Goat farming and the production of goat milk products provide opportunities for women empowerment in Bangladesh. Women often play a key role in managing and operating small-scale goat farms, contributing to their economic independence and empowerment within their communities.

Goat cheese has a distinct and enticing flavour that distinguishes it from cow's milk cheese. Its earthy, sour, and occasionally nutty flavour appeals to customers looking for new and unique culinary experiences. Goat cheese is quite flexible and can be used in a wide range of culinary applications. It goes well with both savoury and sweet foods, making it a popular choice among chefs, home cooks, and foodies. Goat cheese is frequently associated with gourmet and artisanal foods. Its premium image is enhanced by its production process, which uses smaller-scale and traditional methods. Cheese appreciation events and food festivals allow consumers to discover and experience numerous types of goat cheese, increasing consumer interest and demand. During the projected period, the "Others" section, which includes products such as goat milk ice cream and cajeta (a sort of caramel sauce derived from goat's milk), was expected to have the greatest CAGR. When compared to regular cow's milk ice cream, goat milk-based ice cream has a fresh and distinct flavour character. It appeals to consumers who are looking for new and interesting flavour sensations. Because of its reduced lactose content and varied fat and protein composition compared to cow's milk ice cream, goat milk ice cream is considered as a healthier frozen dessert option. The nutritional benefits of goat milk products appeal to health-conscious consumers.

Online platforms and e-commerce websites have witnessed significant growth as distribution channels for goat milk products in Bangladesh. Consumers can explore a wider range of products and conveniently have goat milk products delivered to their doorstep through online retail channels. Some well-known online platforms in Bangladesh include Daraz, AjkerDeal, Evaly, PriyoShop, Chaldal, Othoba, Bagdoom. In Bangladesh, goat milk products may also be available in some pharmacy stores and through business-to-business (B2B) channels. Some pharmacy stores may offer a selection of dairy products, including goat milk, to cater to health-conscious consumers. Additionally, B2B channels involve direct sales from producers or distributors to businesses, such as cafes and restaurants, which incorporate goat milk products into their menu offerings.
Goat milk production is influenced by seasonal variations in Bangladesh. During certain times of the year, such as the dry season, feed availability and quality may be reduced, resulting in decreased milk production and potential supply fluctuations. The scale of goat milk production in Bangladesh is relatively small compared to other dairy sectors. Limited availability of quality breeding stock, low productivity of local goat breeds, and challenges in scaling up production pose constraints on meeting the growing demand for goat milk products. While the demand for goat milk products is growing, market awareness and consumer knowledge about the benefits and availability of these products may still be limited in some areas. Educating consumers about the nutritional advantages, culinary versatility, and availability of goat milk products can help drive market growth. The goat milk product industry in Bangladesh would benefit from increased investment in research and development (R & D). This includes efforts to improve breeding programs, enhance feed quality and nutrition, develop processing technologies, and address specific challenges related to goat milk production and product development.

Considered in this report
• Geography: Bangladesh
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Bangladesh Goat Milk product market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Goat Cheese (Fresh Goat Cheese, Aged Goat Cheese, Flavored Goat Cheese, Others)
• Goat Milk Powder (Skimmed milk Powder, Full Cream Milk Powder)
• Goat Yogurt (Set-style Yogurt, Swiss-style Yogurt)
• Butter
• Others (ice cream, cajeta)

By Form
• Liquid
• Solid

By Distribution
• Hypermarket & Supermarket
• Convenience Stores
• Specialty Stores
• Online
• Others (Pharmacy Store, B2B)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Goat Milk Product industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Contents
1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. South Korea Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. South Korea Goat Milk Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Product Type
6.3. Market Size and Forecast By Form
6.4. Market Size and Forecast By Distribution Channel
7. South Korea Goat Milk Market Segmentations
7.1. South Korea Goat Milk Market, By Product Type
7.1.1. South Korea Goat Milk Market Size, By Goat Cheese, 2017-2028
7.1.2. South Korea Goat Milk Market Size, By Goat Milk Powder, 2017-2028
7.1.3. South Korea Goat Milk Market Size, By Goat Yogurt, 2017-2028
7.1.4. South Korea Goat Milk Market Size, By Butter, 2017-2028
7.1.5. South Korea Goat Milk Market Size, By Others (ice cream, cajeta), 2017-2028
7.2. South Korea Goat Milk Market, By Form
7.2.1. South Korea Goat Milk Market Size, By Liquid, 2017-2028
7.2.2. South Korea Goat Milk Market Size, By Solid, 2017-2028
7.3. South Korea Goat Milk Market, By Distribution Channel
7.3.1. South Korea Goat Milk Market Size, By Hypermarket & Supermarket, 2017-2028
7.3.2. South Korea Goat Milk Market Size, By Convenience Stores, 2017-2028
7.3.3. South Korea Goat Milk Market Size, By Specialty Stores, 2017-2028
7.3.4. South Korea Goat Milk Market Size, By Online, 2017-2028
7.3.5. South Korea Goat Milk Market Size, By Others (Pharmacy Store, B2B), 2017-2028
8. South Korea Goat Milk Market Opportunity Assessment
8.1. By Product Type, 2023 to 2028
8.2. By Form, 2023 to 2028
8.3. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures
Figure 1: South Korea Goat Milk Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 2: Market Attractiveness Index, By Product Type
Figure 3: Market Attractiveness Index, By Form
Figure 4: Market Attractiveness Index, By Distribution Channel
Figure 5: Porter's Five Forces of South Korea Goat Milk Market

List of Table
Table 1 : Influencing Factors for Global Goat Milk Market, 2022
Table 2: South Korea Goat Milk Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 3: South Korea Goat Milk Market Size and Forecast By Form (2017, 2022 & 2028F)
Table 4: South Korea Goat Milk Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 5: South Korea Goat Milk Market Size of Goat Cheese (Fresh Goat Cheese, Aged Goat Cheese, Flavored Goat Cheese, Others) (2017 to 2028) in USD Billion
Table 6: South Korea Goat Milk Market Size of Goat Milk Powder (2017 to 2028) in USD Billion
Table 7: South Korea Goat Milk Market Size of Goat Yogurt (2017 to 2028) in USD Billion
Table 8: South Korea Goat Milk Market Size of Butter (2017 to 2028) in USD Billion
Table 9: South Korea Goat Milk Market Size of Others (ice cream, cajeta) (2017 to 2028) in USD Billion
Table 10: South Korea Goat Milk Market Size of Liquid (2017 to 2028) in USD Billion
Table 11: South Korea Goat Milk Market Size of Solid (2017 to 2028) in USD Billion
Table 12: South Korea Goat Milk Market Size of Hypermarket & Supermarket (2017 to 2028) in USD Billion
Table 13: South Korea Goat Milk Market Size of Convenience Stores (2017 to 2028) in USD Billion
Table 14: South Korea Goat Milk Market Size of Specialty Stores (2017 to 2028) in USD Billion
Table 15: South Korea Goat Milk Market Size of Online (2017 to 2028) in USD Billion
Table 16: South Korea Goat Milk Market Size of Others (Pharmacy Store, B2B) (2017 to 2028) in USD Billion