The new report by Expert Market Research titled, ‘Global Flavoured Milk Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global flavoured milk market, assessing the market based on its segments like flavour, packaging, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 46 Billion
- Forecast CAGR (2023-2028): 8%
- Forecast Market Size (2026): USD 73 Billion
Improving health awareness and consequent consciousness in consumers have pushed them to switch to healthier, nutrient-rich alternatives as compared to carbonated drinks which have exceedingly high sugar. In contrast to soft drinks or other sweetened beverages, which constitute 40% of added sugar, flavoured milk only has 4%.
Globally, the demand for such instant, healthy, and non-junk sources of energy are being given an increasing preference. Due to its health advantages, the product is gaining popularity in emerging economies like India. The growing demand for flavoured milk among children as an alternative to plain milk is expected to further propel the market growth. The convenient consumption, compact carrying option, and instant boost of energy provided by the product, is enhancing the product demand globally.
Flavoured Milk Industry Definition and Major Segments
Flavoured milk is a tasty, packaged dairy beverage, which contains milk, sugar, sweeteners, preservatives, and colour, among other additional ingredients. The ultra-high-temperature (UTH) therapy pasteurises it and gives it a shelf-life longer than the traditional milk. It is also recognised as good source of nutrients value too.
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The major flavours of flavoured milk available in the market are:
Based on packaging, the market is segmented into:
- Paper Based
- Plastic Based
- Glass Based
- Metal Based
The distribution channels of flavoured milk in the market are:
- Supermarkets and Hypermarkets
- Convenience Stores
- Speciality Stores
- Online Stores
The major regional market for flavoured milk encompasses:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Flavoured Milk Market Trends
Flavoured milk is a nutrient-rich beverage providing the same nutrients as unflavoured milk like calcium, potassium, phosphorus, protein, vitamins A, D, B 12, and others. These are necessary for developing strong bones, teeth, and overall health. Though in preparation of flavoured milk, a small amount of sugar is added, the American Dietetic Association states that “by increasing the palatability of nutrient dense foods/beverages, sweeteners can promote diet healthfulness”, which was also supported by the 2005 Dietary Guidelines for Americans. Thus, flavoured milk is witnessing a heightened demand from the consumers seeking healthier alternatives to high-sugar carbonated drinks and alternatives to plain milk.
The range of flavours available in the market include vanilla, chocolate, strawberry, mango, coffee among many others, which attract people from all ages, further contributing to the market growth.
Further, diversification on flavours, packaging, and products is projected to further aid the market growth. Additionally, busy, and hectic schedule of people in recent times have pushed them to explore convenient and healthier food or beverage options, which is also expected to influence the market growth positively. With flavoured milk, one has an option of drinking it on-the-go, attaining the same amount of nutrients as unflavoured milk, while not having to compromise on taste. All these benefits of consumption of flavoured milk are expected to expand the market in the forecast period of 2023-2028.
Key Market Players
The major players in the market are Nestle SA, Dean Foods, Arla Foods amba, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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