The global milk-based drinks market refers to the industry segment focused on the production, distribution, and consumption of beverages primarily derived from milk. This market encompasses a broad range of products, including dairy milk, plant-based milk alternatives, flavored milkshakes, and specialty coffee and tea beverages. It is influenced by consumer preferences for taste, health consciousness, and dietary choices, with companies competing to innovate and meet evolving consumer demands.
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Data Bridge Market Research analyzes that the Global Milk-Based Drinks Market is expected to reach USD 6,636,427.80 thousand by 2030, growing with a CAGR of 4.4% in the forecast period of 2023 to 2030. The animal-based milk segment is projected to propel the market growth due to increasing consumer consciousness regarding health and well-being.
Key Findings of the Study
Growing Popularity of Convenience and Fast-Paced Lifestyles
In recent years, a notable shift in consumer preferences towards convenience and on-the-go consumption has spurred the growth of various industries, including the global milk-based drinks market. This trend is a response to the fast-paced modern lifestyle, where consumers seek nutritious and protein-rich options that can be conveniently consumed anytime. Milk-based drinks offer a solution by combining the nutritional benefits of protein, calcium, and vitamins with the convenience of portable, pre-packaged drinks. Urbanization, busier schedules, longer commutes, and increased work demands have led to a significant shift in consumer behavior. As a result, consumers are increasingly seeking products that align with their fast-paced lives, making convenience a top priority. Moreover, the scarcity of time has prompted consumers to look for quick and easy solutions for their nutritional needs. Traditional meal patterns have evolved, with snacking and on-the-go consumption becoming more common.
Companies at the forefront of innovation are poised to harness the full potential of these changing consumer preferences, which is expected to drive market growth.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Product (Animal-Based Milk and Plant-Based Milk), Flavor (Flavored and Unflavored/Plain), Nature (Organic and Conventional), Distribution Channel (Store Based Retailer and Non-Store Retailer)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., Spain, France, Belgium, Netherlands, Switzerland, Russia, Turkey, and Rest of Europe, India, China, Japan, Australia & New Zealand, South Korea, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, United Arab Emirates, Saudi Arabia, South Africa, Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Califia Farms, LLC (U.S.), MOOALA BRANDS, LLC. (U.S.), Chobani, LLC. (U.S.), Simple Foods Co. Ltd. (Thailand), TURM-Sahne GmbH (Germany), Sanitarium (Australia), Arla Foods amba (Denmark), RUDE HEALTH (Germany), Danone S.A. (France), Nestlé (Switzerland), THE HERSHEY COMPANY (U.S.), Oatly Inc (Sweden), YEO HIAP SENG LTD (Singapore), Valsoia S.p.A. (Italy), and GCMMF (India)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis
The global milk-based drinks market is segmented into four notable segments based on product, flavor, nature, and distribution channel.
- On the basis of product, the market is segmented into animal-based milk and plant-based milk.
In 2023, the animal-based milk segment is expected to dominate the global milk-based drinks market
In 2023, the animal-based milk segment is expected to dominate the market with 75.06% market share due to the increasing consumer consciousness regarding health and well-being.
- On the basis of flavor, the market is segmented into flavored and unflavored/plain.
In 2023, the flavored segment is expected to dominate the global milk-based drinks market
In 2023, the flavored segment is expected to dominate the market with 73.26% market share as it flavored milk-based drinks contain all the same nutrients and health benefits of plain milk along with a better taste.
- On the basis of nature, the market is segmented into organic and conventional. In 2023, the organic segment is expected to dominate the market with a 73.20% market share.
- On the basis of distribution channel, the market is segmented into store based retailer and non-store retailer. In 2023, the store based retailer segment is expected to dominate the market with a 69.43% market share.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in the global milk-based drinks market that include Arla Foods amba (Denmark), Danone S.A. (France), Nestlé (Switzerland), Oatly Inc (Sweden), and GCMMF (India) among others.
Market Developments
- In August 2023, Chobani, LLC a next-generation food and beverage company known for Greek Yogurt, introduced Chobani Oatmilk Pumpkin Spice, a rich, creamy, pumpkin spice-flavored oat drink made from the goodness of whole grain oats. The latest addition to the brand’s pumpkin patch is vegan-friendly, a good source of calcium, and perfect for pumpkin spice enthusiasts looking for fall beverages that do not compromise on quality or flavor.
- In January 2023, Oatly Inc, the world’s original and largest oat drink company, and Ya YA Foods Corporation, a leading contract manufacturer of a broad range of aseptic food and beverage products, announced a long-term strategic hybrid partnership in North America. In this hybrid partnership, Oatly will continue to produce its proprietary oat base at both the Ogden, UT, and Fort Worth, TX facilities, which will then be transferred to Ya YA Foods to be co-packed into Oatly products on-site at each location.
- In November 2021, Arla Foods amba unveiled its new five-year strategy emphasizing its strong commitment to sustainable dairy production and responsible business expansion. Over the next five years, the company is poised to increase its investments by more than 40%, exceeding 4 billion EUR. These investments will be directed toward sustainability initiatives, digitalization, the adoption of innovative production technologies, and product development. In addition, the company plans to raise its dividend to 1+ billion EUR, demonstrating its dedication to supporting its farmer owners as they embark on their sustainability journey.
- In September 2021, Valsoia S.p.A. signed an agreement with Green Pro International B.V., who has 100% stake of Swedish Green Food Company AB, for the acquisition of 100% share capital of the Swedish Company, specialized in importing and distributing 100% vegetable products in the European territory.
- In March 2021, Hershey India Pvt Ltd, a part of THE HERSHEY COMPANY, developed Sofit Plus, a plant protein-fortified drink exclusively for its ‘Nourishing Minds’ social initiative. It is designed to meet the nutritional needs of underprivileged kids, the drink was developed by Hershey India in collaboration with IIT-Bombay, Sion Hospital and the NGO Annamrita.
Regional Analysis
Geographically, the countries covered in the global milk-based drinks market report are U.S., Canada, Mexico, Germany, Italy, U.K., Spain, France, Belgium, Netherlands, Switzerland, Russia, Turkey, and Rest of Europe, India, China, Japan, Australia & New Zealand, South Korea, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, United Arab Emirates, Saudi Arabia, South Africa, Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to dominate the global milk-based drinks market.
Asia-Pacific is expected to dominate the market owing to the industry's ability to offer a diversified range of drinks in various flavors.
North America is expected to be the fastest-growing region in the global milk-based drinks market during the forecast period of 2023-2030.
North America is expected to be the fastest-growing region in the market due to increased health & fitness awareness and convenience-oriented lifestyles.
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