The flavoured milk market offers several advantages that contribute to its growth and popularity. Such as flavoured milk provides a convenient and tasty way to consume essential nutrients, such as calcium, protein, and vitamins, which are beneficial for overall health, the variety of flavours available appeals to different consumer preferences and creates opportunities for product differentiation. Flavoured milk is a versatile beverage that can be enjoyed on its own or used as a base for smoothies and other recipes, furthermore, the market has witnessed the introduction of healthier and functional variants, offering additional benefits like reduced sugar content or added functional ingredients.
According to Data Bridge Market Research, the Global Flavoured Milk Market was valued at USD 38.07 billion in 2021 and is expected to reach the value of USD 57.98 billion by 2029, at a CAGR of 5.4 % during the forecast period of 2022-2029.
“The shifting consumer preferences for healthy beverages facilitate market growth”
The shifting consumer preferences for healthy beverages act as a significant driver for the flavoured milk market. Consumers today are increasingly focused on their health and wellness, seeking beverages that offer both taste and nutritional value. Flavoured milk provides an attractive option as it combines the goodness of milk with enticing flavours. The market has witnessed the introduction of healthier variants such as low-fat, reduced sugar, and fortified options, catering to health-conscious consumers. Manufacturers are also incorporating natural ingredients and functional additives to enhance the nutritional profile of flavoured milk, meeting the growing demand for healthier beverage choices.
What restraints the growth of the global flavoured milk market?
“The growing vegan population”
The growing vegan population presents a challenge to the flavoured milk market. As more individuals adopt a vegan lifestyle, they seek plant-based alternatives to dairy products, including flavoured milk. This trend is driven by concerns for animal welfare, environmental sustainability, and personal health. Vegan consumers often opt for plant-based milk alternatives and avoid animal-derived ingredients. To address this challenge, manufacturers are developing and promoting plant-based flavoured milk options, utilizing ingredients like almond, soy, coconut, or oat milk. However, the shift towards veganism highlights the need for innovation and diversification in the flavoured milk market to cater to evolving consumer preferences.
Segmentation: Global Flavoured Milk Market
The flavoured milk market is segmented on the basis flavours, packaging and distribution channel.
- On the basis of flavours, the global flavoured milk market is segmented into chocolate, vanilla, butterscotch, coconut, strawberry, coffee, hazelnut and others.
- On the basis of packaging, the global flavoured milk market is segmented into chocolate paper-based packaging, plastic packaging, glass packaging and metal packaging.
- On the basis of distribution channel, the global flavoured milk market is segmented into chocolate store-based and non-store-based.
Regional Insights: Asia-Pacific dominate the global flavoured milk market
The Asia-Pacific region presents a highly attractive market for the flavoured milk industry, with immense growth prospects in the foreseeable future. The expanding food and beverage industry in the region is a key driver for the market's growth. With a rising consumer preference for innovative and indulgent beverages, the demand for flavoured milk is on the rise. The region's large population, changing dietary preferences, and increasing disposable income further contribute to the market's appeal and growth potential.
North America has emerged as a profitable market for the flavored milk industry. The region's consumers display increased health consciousness and a preference for natural products. Flavored milk, with its combination of taste and nutritional value, aligns with these preferences. Its popularity has grown as consumers seek healthier beverage options, driving the growth of the flavored milk market in North America.
To know more about the study visit, https://www.databridgemarketresearch.com/jp/reports/global-flavoured-milk-market
Recent Developments in Global Flavoured Milk Market
- In 2022, The Hershey Co. and a2 Milk Co. collaborated to introduce a new co-branded chocolate flavoured milk. This product, launched in the United States, combines the rich taste of Hershey's milk chocolate with the premium quality of a2 Milk. It provides both nutritional value and a delightful flavour, catering to the growing consumer demand for indulgent and wholesome beverages.
- In 2021, Parle Agro, an Indian beverage company, entered the dairy market with the launch of Smoodh, a line of flavoured milk. Positioned as the world's first flavoured milk of its kind, Smoodh offers various flavours in 85ml Tetra Pak cartons, providing consumers with a convenient and refreshing option at an affordable price.
- In 2020, Nestle introduced a plant-based version of its popular Nesquik brand in Europe. This ready-to-drink beverage is made from oats and peas, offering a nutritious and sustainable alternative to traditional milk-based drinks. With reduced sugar content, the plant-based Nesquik appeals to health-conscious consumers seeking plant-based options without compromising on taste and enjoyment.
The Prominent Key Players Operating in the Global Flavoured Milk Market Include:
- Nestle S.A. (Switzerland)
- Danone S.A. (Switzerland)
- Arla Foods Amba (Denmark)
- Associated Milk Producers, Inc. (U.S.)
- Bright Food International Co., Ltd. (China)
- Dairy Farmers of America, Inc. (U.S.)
- Dean Foods Company (U.S.)
- FrieslandCampina NV (Netherlands)
- Grupo Lala, S.A.B. de C.V. (Mexico)
- AMUL Industries Pvt Ltd (India)
- The Hershey Company (U.S.)
- The Farmer's Cow (U.S.)
- Meiji Holdings Co. Ltd (Japan)
- Hiland Dairy (U.S.)
- Saputo Inc. (Canada)
Above are the key players covered in the report, to know about more and exhaustive list of global flavoured milk market companies contact, https://www.databridgemarketresearch.com/jp/contact
Research Methodology: Global Flavoured Milk Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
