PORTLAND, Ore., May 10, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Donkey Milk Market by Application (Cosmetics & Personal Care and Food & Beverages) and Form (Liquid and Powder): Global Opportunity Analysis and Industry Forecast, 2021–2027." According to the report, the global donkey milk market garnered $28,180 thousand in 2019, and is expected to garner $68,139 thousand by 2027, growing at a CAGR of 9.4% from 2021 to 2027.
Prime determinants of growth
Rise in use of donkey milk in food & beverages, surge in utilization of donkey milk in cosmetics industry, and growth in consumption of donkey milk by health conscious consumers drive the global donkey milk market. However, lack of awareness regarding donkey milk and its high cost restrain the market growth. On the other hand, rise in social media awareness is expected to offer an array of opportunities to the market players in the near future.
The outbreak of the pandemic led to increase in sales of donkey milk, owing to its high nutritious properties such as vitamins, minerals, protein, iron, and other.
As a result of the pandemic, e people have started to switch towards herbal or organic skin care products. This in turn has increased the demand for donkey milk in cosmetics and personal care industry.
The cosmetic and personal care technology segment to continue its dominant position by 2027
Based on application, the cosmetics and personal care segment held more than three-fourths of the total share of the global donkey milk market in 2019, and is estimated to continue its dominant position throughout the forecast period. This is due to rise in demand by personal care industry, and surge in demand for advanced natural ingredients. However, the food and beverages segment is expected to register the highest CAGR of 10.4% from 2021 to 2027. This is owing to the presence of proteins, omega-69 fatty amoino-acid, lactose, and mineral in donkey milk. In addition, donkey's milk consists of immune enhancer compounds, which protects toddlers from infections and diseases. Which further drives the growth of the segment.
The powder segment to maintain its lead throughout the forecast period
Based on form, the powder segment held the highest market share in the global Donkey Milk market in 2019, contributing to nearly two-thirds of the total share, and will maintain its lead position in terms of revenue by 2027. The donkey milk powder origin is natural and it is a key ingredient, which is widely used in the cosmetics industry. Moreover, the donkey milk powder is a rich source of minerals, protein, bioactive enzymes, essential fats, and various growth factors such as riboflavin, vitamin D, and others, which provides natural nourishment to skin and toned it. However, the liquid segment is estimated to register the fastest CAGR of 10.3% from 2021 to 2027. The donkey milk contains less cholesterol and fat when compared with cow, goat, and sheep milk, this in turn leads to increase the growth of the segment.
Europe, followed by North America, to continue its dominant position during the forecast period
Based on region, Europe, followed by North America, held the largest market share in terms of revenue, with nearly half of the global donkey milk market in 2019, and is expected to retain its dominance during the forecast period. The global players along with donkey milk manufacturing companies in Europe majorly focus on product innovation and have introduced donkey milk cosmetics and confectionary, which further boosts the demand for donkey milk. However, Asia-Pacific is expected to grow at the highest CAGR of 11.5% from 2021 to 2027. Donkey milk is new product in the animal milk category in the Asia-Pacific region as its ingredients shows resemblance to human breast milk for lactose, protein, and ash.
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