Global Flavoured Milk Market Segmentation, By Flavours (Chocolate, Vanilla, Butterscotch, Coconut, Strawberry, Coffee, Hazelnut and Others), Packaging (Paper-Based Packaging, Plastic Packaging, Glass Packaging and Metal Packaging), Distribution Channel (Store-Based and Non Store-Based), – Industry Trends and Forecast to 2031.
Flavoured Milk Market Analysis
As consumer preference for flavours has increased over the last five years, manufacturers and suppliers of dairy products must optimise their product offerings to meet consumer demand. Flavour is a high-growth segment in the overall food ingredients market, and consumer preference for flavoured milk, combined with manufacturers' willingness to capitalise on the opportunity in this niche business, translated into increased demand for flavoured milk around the world.
Flavoured Milk Market Size
Global flavoured milk market size was valued at USD 42.29 billion in 2023 and is projected to reach USD 64.42 billion by 2031, with a CAGR of 5.4% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Flavoured Milk Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America
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Key Market Players
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Nestle S.A. (Switzerland), Danone S.A. (Switzerland), Arla Foods Amba (Denmark), Associated Milk Producers, Inc. (US), Bright Food International Co., Ltd. (China), Dairy Farmers of America, Inc. (US), Dean Foods Company (US), FrieslandCampina NV (Netherlands), Grupo Lala, S.A.B. de C.V. (Mexico), AMUL Industries Pvt Ltd (India),The Hershey Company (US), The Farmer's Cow (US), Meiji Holdings Co. Ltd (Japan), Hiland Dairy (US), Saputo Inc. (Canada)
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Market Opportunities
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Flavoured Milk Market Definition
Flavoured milk is a ready-to-drink dairy beverage made from milk, sugar, sweeteners, stabilisers, and various flavouring agents. Pasteurization is used to allow it to be stored for an extended period of time. Nowadays, the market offers a wide range of flavoured milks, ranging from whole milk to thick milkshakes. It contains important nutrients such as niacin, calcium, potassium, phosphorous, protein, riboflavin, and vitamins A, D, and B12.
Flavoured Milk Market Dynamics
Drivers
- Shifting consumers preferences for healthy beverages
The global flavoured milk market is primarily driven by rising consumer health consciousness. This has influenced them to choose healthier beverages such as flavoured milk over carbonated, soft, and energy drinks. The growing awareness of the importance of eating a healthy diet has prompted them to switch to organic flavoured milk with low-calorie sweeteners.
- Growing advancement in the packaging techniques as well as growing purchasing power of the consumers
Furthermore, rapid urbanisation and rising disposable incomes of consumers worldwide are positively influencing market growth. Furthermore, with advancements in packaging techniques, leading dairy companies are incorporating silver-based micro-particles with antimicrobial and self-sterilizing properties into the containers to extend the shelf-life and preserve the flavour of flavoured milk. Several manufacturers are also adding vitamins and minerals to their products.
Opportunity
New flavour and packaging developments have been observed to be trending in the global flavoured milk market, with companies introducing locally-preferred flavours. Furthermore, there is a preference for fruit flavours among children, which has prompted manufacturers to develop new product innovations. Furthermore, companies are launching flavoured milk varieties with enhanced functional properties to meet the population's needs. Furthermore, in order to appeal to the growing diabetic and health-conscious population, they are offering low-sugar and fat-free varieties of flavoured milk products. Companies are introducing on-the-go flavoured milk to increase their offerings and customer base, recognising the opportunity presented by busier lifestyles and the need for convenience.
Restraints
The growing vegan population globally poses a challenge to the growth of the flavoured milk market. Growing incidences of lactose tolerance is a strong force pulling the market backward and may foster closure in some regions, which is the main restraint for the flavoured milk market during the forecast period.
This flavoured milk market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the flavoured milk market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Flavoured Milk Market
The COVID-19 pandemic hit the food and beverage market early on, but the industry did not suffer as a result of rising demand for various products in the market. The various manufacturers of flavoured milk took advantage of the situation and prepared products to meet changing consumer demand. Amul, for example, introduced a new flavoured milk with tulsi and ginger in 2020. These drinks were created to boost people's immunity during the COVID-19 pandemic.
Flavoured Milk Market Scope
The flavoured milk market is segmented on the basis flavours, packaging and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Flavour type
- Chocolate
- Vanilla
- Butterscotch
- Coconut
- Strawberry
- Coffee
- Hazelnut
- Others
Packaging
- Paper-Based Packaging
- Plastic Packaging
- Glass Packaging
- Metal Packaging
Distribution channel
- Store based
- Non-store based
Flavoured Milk Market Regional Analysis
The flavoured milk market is analysed and market size insights and trends are provided by country, flavours, and packaging and distribution channel as referenced above.
The countries covered in the flavoured milk market report are UU.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Japan, Thailand, Indonesia, New Zealand, Vietnam, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, South Africa, Kuwait, Qatar, Oman, Saudi Arabia, U.A.E., and rest of the Middle East and Africa, Brazil, Argentina & rest of South America.
Asia-Pacific is the most appealing market for flavoured milk market, with tremendous growth potential in the coming years. One of the key driving factors for the growth of the Asia Pacific flavoured milk market is the expansion of the food and beverage industry. Rising demand from emerging markets such as China, India, and Indonesia, among others, will drive the flavoured milk market over the forecast period. Asia-Pacific is expected to remain the most important region in terms of volume. Aside from that,
North America has proven to be a lucrative market for the flavoured milk market due to rising consumer health consciousness and preference for natural products.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Flavoured Milk Market Share
The flavoured milk market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to flavoured milk market.
Flavoured Milk Market Leaders Operating in the Market Are:
- Nestle S.A. (Switzerland)
- Danone S.A. (Switzerland)
- Arla Foods Amba (Denmark)
- Associated Milk Producers, Inc. (US)
- Bright Food International Co., Ltd. (China)
- Dairy Farmers of America, Inc. (US)
- Dean Foods Company (US)
- FrieslandCampina NV (Netherlands)
- Grupo Lala, S.A.B. de C.V. (Mexico)
- AMUL Industries Pvt Ltd (India)
- The Hershey Company (US)
- The Farmer's Cow (US)
- Meiji Holdings Co. Ltd (Japan)
- Hiland Dairy (US)
- Saputo Inc. (Canada)
Latest Developments in Flavoured Milk Market
- The Hershey Co., America's No. 1 milk chocolate brand, and a2 Milk Co., a premium milk company, launched their new co-branded chocolate flavoured milk in 2022. This natural chocolate milk contains nutrition as well as flavour.
- In 2021, Parle Agro, an Indian beverage company, expanded its product line into the dairy category by launching Smoodh, a line of flavoured milk. This flavoured milk is said to be the first of its kind in the world, and it costs INR 10 for 85ml Tetra Pak cartons.
- Nestle will launch its new plant-based ready-to-drink beverage version of Nesquik in Europe in 2020. This plant-based drink is made from oats and peas and contains less sugar than regular Nesquik.
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