Flavoured Milk Market Size, Share, Growth, and Industry Analysis, By Type (Chocolate Flavor, Fruit Flavor, & Vanilla Flavor), By Downstream industry (Supermarkets & Hypermarkets) and Regional Forecast to 2032

Updated On: 04 November 2024

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FLAVOURED MILK MARKET REPORT OVERVIEW

The Flavoured Milk Market Size was Valued at US$ 49265.7 Million in 2023. The Market is likely to Surpass US$ 124764.4 Million by 2032 at a CAGR of 9.74% During the Forecast period [2024-2032].

The market for flavored milk has grown over the last few years because of rising consumption of healthy, tasty, and convenient products. This market consists of numerous milk-based beverages that are flavored with chocolate, strawberry, vanilla, and other sorts of spices. It targets young people, especially those in their childhood and youthful groups, in order to offer them a tasty product other than milk. Driving forces for this industry include new tastes of products, improved lifestyles, products low in sugar content, and better means of product distribution. Therefore, the flavored milk market remains competitive and grows further, incorporating more participants and capital.

COVID-19 Impact: Market Growth During Pandemic Due to increased home consumption

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The situation with the COVID-19 pandemic also influenced the flavored milk market in a positive way, as people began to buy flavored milk more actively during periods of lockdowns and quarantine as it is a rather healthy and comfort-creating product. The change in trend towards home consumption, together with nutrition awareness, stimulated more demand for flavored milk bundled with vitamins and minerals. Also, the scenic and growing demand for e-commerce made it easier to access these products during the pandemic and caused a rise in the market’s growth.

LATEST TRENDS

"Flavored plant-based milk market growth driven by health and sustainability"

Flavored milk One of the most popular trends in the global beverage market is the development of new flavored milk varieties that are regularly introduced to the market, for instance, plant-based flavored milk. Since people’s awareness regarding healthier lifestyles and the impact of plastic use on the environment has increased, there is a greater sale of plant-based milk, including almond, oat, and soy milk with added flavors. This trend has been most notably observed in vegan and lactose-intolerant clients'. Manufacturers are trying to offer different products regarding the valuable combinations of the flavors and the added vitamins and other nutrients incorporated into the products.

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FLAVOURED MILK MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Fiberglass, Mineral Wool, Cellulose, Polystyrene (EPS) & Polyurethane Foam.

• Chocolate Flavor The sale of chocolate-flavored milk retains its high demand in the market because of the taste of milk plus chocolate and also because it has the advantage of being consumed by all age groups. Its market growth is not in stride with a steady stream of new products; the new product form is always a reduced-sugar version or a fortified one. It is widely marketed as a nutrition product, especially for rejuvenation after working out.

• Fruit Flavor Fruit-flavored milk is another type of milk beverage that is relatively more attractive than plain milk because it is flavored with different fruits such as strawberries, bananas, and mango. This segment serves customers who are willing to consume something healthy and safe for their health as well as their skin. It has been on the rise and expanding in the market for several years in a row, especially in exotic and mixed fruit flavors.

• Vanilla Flavor Vanilla-flavored is preferred since it is mild and can be taken by both young and old in society. A standalone drink is a supplement to its other applications, such as being used in the preparation of smoothies and shakes. It has been observed that companies are also striving to improve it with natural vanilla flavor and reduced sugar content to satisfy the health-conscious world.

By Downstream industry

Based on Downstream industry the market can be categorized into Online, Pet Stores & Retail Stores

• Supermarkets Huge supermarkets have a great input in the flavored milk market since they stock all brands and flavors of the product, making it easier for consumers to sample various brands. They are often used in promotions, discounts, and in-store tastings to boost sales. Flavored milk products are easily available in supermarkets, and their visibility plays a major role in increasing consumer awareness levels and frequency.

• Hypermarkets Bigger stores such as hypermarkets offer a large floor area for sales of flavored milk products; due to this, all the varieties that customers would wish to purchase are easily found within one store. They have large stocks, which gives them the opportunity to sell and buy in large quantities; hence, they compete on price. Hypermarkets also oxygenate the consumer experience, resulting in an efficient and effective organized segment on dairy and product placements that consequently leads to improved volumes.

DRIVING FACTORS

"Health-conscious consumers drive flavored milk market growth through innovation"

This is attributed to the fact that people are becoming more conscious of their health and are hence seeking healthier products, such as flavored milk products.Consumers are looking for beverage products that provide nutrition and wellness, thus the need to have flavored milk with vitamins, minerals, and low sugar.It is shifting the focus to innovation and new products that are being introduced in the market.

"Convenient, healthy snacking drives flavored milk market growth significantly"

One more factor that enhances the market need for beverage products is the active and rather tense pace of consumption in present-day consumers’ lives.Flavored milk provides a perfect example of this surge, as it is not only fast and convenient but also a healthy means of snacking.This factor of easy accessibility is thus largely responsible for the market's growth.

RESTRAINING FACTOR

"Awareness of additives challenges flavored milk market growth, prompting healthier brands"

One of the major threats that the flavored milk market growth is facing is an increase in consumers’ awareness of added sugars and other artificial components. Specifically, consumers nowadays are becoming more conscious of their diets and are thus away from heavily sugary products and synthetic additives, which affect their view and intake of flavored milk products. Manufacturers, therefore, have been under pressure to change from traditional products and produce healthier brands.

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FLAVOURED MILK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America's Advanced Dairy Sector Drives Flavored Market Growth"

North America is the flavored milk market share, primarily because of the advanced dairy sector, the high spending power of consumers, and the consumers’ trend towards healthy and convenient beverages. Accommodation of customers’ taste and health consciousness is enhanced by the regional distribution networks and product development. Besides, proactive approaches in marketing exercises and increased accessibility throughout retail and online outlets add to the market's supremacy.

KEY INDUSTRY PLAYERS

Major players' innovation and marketing drive flavored, a Some of those are: Major players in the flavored milk industry are constantly aspiring to ensure that they embrace change by coming up with different flavors that appeal to consumers as well as focusing on producing healthier products. These are using sophisticated marketing techniques and increasing the outlets for selling through electronic business methods. Through their focus on sustainability and health-conscious products, these businesses are able to adapt to the needs of their consumers, thus impacting market patterns and growth immensely.

LIST OF MARKET PLAYERS PROFILED

• Nestlé (Switzerland)
• Müller (Germany)
• Land O’Lakes (U.S)
• Amul (India)
• Grupo Lala (U.S)

INDUSTRIAL DEVELOPMENT

December 2022: Flavoured milk market Launched a new kesar-flavored milk. This flavoured milk boasts nine essential vitamins and minerals, targeting the growing trend of functional beverages that provide taste alongside healthbenefits.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Flavoured Milk Marketfrom multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose Downstream industrys may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.