Business Hawke's Bay is hoping it can bring a billion-dollar market to the region.

The economic development agency is hosting a conference in July to attract people interesting in goat milk farming and infant formula production.

The market could generate $1.5 billion in revenue and create 178 jobs over the next 10 years.

Spokeswoman Catherine Rusby says they're considering setting up a supply chain in Hawke's Bay - from breeding and raising goats, milking them and processing milk powder.