The price of dairy products in Libya reached 366,736 tons and is expected to develop at an annual growth rate of 3.3% and reach 508.469 tons by the end of 2032.

The industrialization led to the increase of the disposable income of the population, as consumers are looking for premium products in addition to high-quality products. The Libyan market for dairy products is expected to grow in the coming years.

On the other hand, there are some challenges that limit the progress of the Libyan market. For example, Libya has recently witnessed high inflation rates due to several factors and dependence on imports for basic commodities and the disparity in commodity prices and thus dairy product manufacturers need to deal with these problems carefully to keep them in the market.

The dairy products market in Libya is currently valued at 588.9 million dollars and is expected to achieve an annual growth rate of 4% during 2022-2032 as the modern trade category is currently valued at 110.7 million dollars and cheese usage in Libya is expected to reach 32,191 tons. It is also expected to rise by 3.6% at an annual growth rate. Depending on the type of product, the milk and cream segment is currently held at 308,466 tons and is expected to expand at a compound annual growth rate of 3.2%.

The Libyan dairy market is highly dependent on imports and as a result, dairy product manufacturers around the world can take advantage of this opportunity by establishing their footprint in the country and offering high quality dairy products as the milk and cream sector retains the majority of the market share as it is considered an everyday commodity, although the sector has the highest growth potential.

Adapted from GlobeNewswire