According to the latest report by IMARC Group, titled "Flavoured Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How Big is the Flavoured Milk Market?
The global flavoured milk market size reached US$ 53.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 79.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.
What is Flavoured Milk?
Flavoured milk refers to processed and ready-to-drink dairy-based beverages prepared with milk, stabilizers, sugar, sweeteners, and various flavoring agents. They are available in several types, including chocolate, fruit, vanilla, and others. These flavoured milk drinks are processed using pasteurization techniques to ensure their storage for a prolonged period. They are rich in essential nutrients, such as niacin, potassium, calcium, protein, phosphorous, riboflavin, and vitamins A, B12, and D. Consequently, flavoured milk products are in extensive demand across the globe.
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Flavoured Milk Market Trends:
The expanding health-consciousness among the masses and the shifting preferences toward healthier beverages, over carbonated, soft, and energy drinks are primarily driving the flavoured milk market. In line with this, the growing demand for organic milk-based beverages with low-calorie sweetener products, on account of the rising awareness regarding the importance of maintaining a healthy diet, is also positively influencing the market growth. Apart from this, the increasing focus among leading market players on introducing products with locally preferred flavors is acting as another significant growth-inducing factor.
Additionally, the elevating innovation with fruit flavors and the launch of new products with improved functional properties and low-sugar and fat content, especially for diabetic consumers, are further stimulating the market growth. Moreover, the development of on-the-go products fortified with multiple vitamins and minerals by numerous manufacturers recognizing the opportunity presented by busier lifestyles and the escalating advancements in packaging systems wherein containers are added with silver-based micro-particles and antimicrobial and self-sterilizing properties to enhance product shelf-life and maintain the taste are expected to bolster the flavoured milk market in the coming years.
Competitive Landscape With Key Players:
The competitive landscape of the global flavoured milk market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Nestle S.A
- Danone S.A
- Arla Foods amba
- Yili Industrial Group Co. Ltd.
- Dairy Farmers of America Inc.
- China Mengniu Dairy Company Limited.
Key Market Segmentation:
Breakup by Flavour:
- Chocolate
- Fruit
- Vanilla
- Others
Breakup by Packaging:
- Paper Based
- Plastic Based
- Glass Based
- Metal Based
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Regional Insights:
- Asia Pacific
- North America
- Latin America
- Western Europe
- Africa
- Eastern Europe
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