Spain: Milk and Cream Market and the Impact of COVID-19 on It in the Medium Term

The milk and cream market in Spain was equal to 4.52 billion USD (calculated in retail prices) in 2015. Until 2025, the milk and cream market in Spain is forecast to reach 3.25 billion USD (in retail prices) and decreasing at a CAGR of -2.06% per annum for the period 2020-2024. This is an increase, compared to the decline of about -4.89% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 97.19 USD per capita (in retail prices) in 2015. In the next five years, it declined at a CAGR of -4.83% per annum. In the medium term (by 2025), the indicator is forecast to slow down its decline and decrease at a CAGR of -2.04% per annum.
One of the most important trends on the milk and milk and cream market is closely linked with the surging demand for healthy and sustainable products. Consumers are increasingly interested in aspects such as ethics and environment when it comes to milk and cream production. Most of them are interested in products in a package made of recycled materials, as well as in products with a guarantee of sustainable farming. Furthermore, in line with the plant-based revolution, there is an increasing number of people opting for plant-based milk alternatives. In particular, growth of milk alternatives has been prompted by the following segments: oat, coconut and almond.
As a matter of fact, the overall consumption of fluid milk has been decreasing in the past few years. However, ultra-filtered milk (milk, that can be low in lactose or high in protein after a process of filtration) is another emerging category, which is expected to increase demand for fluid milk. In addition, there are a large number of cow’s milk alternatives, the most exotic of which – camel milk. It is gaining popularity, due to the many nutritional benefits, including high protein content, as well as low fat and cholesterol content.