Global Flavoured Milk Market Outlook, 2028

Global Flavoured Milk Market Outlook, 2028

Flavoured milk is a ready-to-drink dairy beverage made with milk, sugar, sweeteners, stabilisers, and various flavouring agents. Pasteurisation 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, phosphorus, protein, riboflavin, and vitamins A, D, and B12. Flavoured milk has grown in popularity in recent years, particularly among children, due to its range of tastes and enticing flavour. The global flavoured milk industry is primarily driven by rising consumer health concerns. This has influenced them to choose healthier beverages such as flavoured milk over fizzy, soft, and energy drinks. The growing awareness of the significance of eating a balanced diet has pushed many to switch to organic flavoured milk with low-calorie sweeteners. Furthermore, expanding urbanisation and rising disposable incomes among consumers worldwide are favourably driving market growth. Furthermore, with developments in packaging technology, prominent dairy businesses are incorporating silver-based micro particles with antibacterial and self-sterilising qualities into the containers to extend the shelf life and preserve the flavour of flavoured milk. Several producers are also adding vitamins and minerals to their products. In the worldwide flavoured milk market, new flavour and packaging developments have been noted, with companies introducing locally preferred varieties. Furthermore, youngsters like a fruit flavour, which has pushed producers to design new product improvements. Furthermore, market participants are introducing flavouring milk types with better functional features to fulfil the needs of the population.

According to the research report, Global Flavoured Milk Market Outlook, 2028, published by Bonafide Research the market is projected to reach USD more than 75 Billion by 2028 with a significant CAGR of 6.86 % from USD 51 Billion in 2022. Flavoured milk is ready-to-drink milk that has been flavoured with flavours such as chocolate, banana, vanilla, and many more. Because of the pasteurisation procedure, this milk has a longer shelf life and nutritional benefits. Individuals' busy lifestyles have increased demand for accessible and healthful beverages, particularly among parents looking for nutritional RTD-flavoured milk for their children. Chocolate-flavoured milk's appeal among youngsters has made it a popular choice among parents for meeting their children's milk requirements. Companies are constantly attempting to produce new flavours and formulas to meet changing consumer preferences. Natural ingredients, diverse flavours, and unusual combinations could all be used. Flavoured milk manufacturers are introducing functional additives such as probiotics, vitamins, minerals, and plant-based alternatives to appeal to health-conscious consumers. These items promise to provide additional health benefits in addition to basic nourishment. Furthermore, automation technologies are being used to increase manufacturing efficiency, reduce human errors, and maintain consistency in quality. Throughout the manufacturing process, robotics, sensors, and complex monitoring systems are used. Alongside mainstream flavoured milk products, there is a rising trend in premium and artisanal flavoured milk options. These products often emphasize high-quality ingredients, unique flavor combinations, and a more indulgent taste experience. Consumers are increasingly concerned about the ingredients used in flavoured milk products. There is a growing demand for products made with natural and clean label ingredients, without artificial additives, preservatives, or colors.

The market is divided into North America, Europe, Asia-Pacific, South America and Middle East & Africa. Asia-Pacific is significantly dominating the market of flavoured milk globally with more than 40 % of the market share. Rapid urbanization and changing lifestyles in Asia-Pacific countries have led to a shift in dietary habits. As more people move to urban areas and adopt busier lifestyles, there is an increased demand for convenient and ready-to-drink beverages like flavoured milk. Economic growth in countries like China, India, and Southeast Asian nations has resulted in an expansion of the middle class and increased disposable incomes. As a result, consumers in these regions have more purchasing power and are willing to spend on premium and value-added products, including flavoured milk. Dairy consumption is deeply ingrained in the dietary habits of many Asian cultures. Milk-based products, including flavoured milk, are widely consumed and enjoyed. The familiarity and cultural preference for dairy products contribute to the popularity of flavoured milk in Asia-Pacific. In addition, Asia-Pacific is home to a significant portion of the global population, including countries such as China and India, which have immense consumer markets. The large population base provides a substantial customer pool for flavoured milk products, driving demand and market growth.

Based on type, the market is segmented into dairy based and plant based. The dairy based type holds the significant market share of the flavoured milk market globally. Dairy-based flavoured milk offers several nutritional benefits. Milk is a good source of calcium, protein, vitamins, and minerals, which are essential for growth, bone health, and overall well-being. By adding flavors to milk, manufacturers are able to offer a tasty beverage that also provides these important nutrients. Furthermore, dairy-based flavoured milk often has a rich and creamy taste that many consumers enjoy. The combination of dairy's natural sweetness and the added flavourings creates a pleasant taste experience. The creamy texture of dairy-based milk enhances the drinking experience and contributes to its popularity. In addition, dairy-based flavoured milk can be produced in a wide range of flavors and variations to cater to different consumer preferences. From classic flavors like chocolate and strawberry to more unique options, the versatility of dairy-based milk allows for a diverse range of product offerings to satisfy a broad consumer base. In the future the plant-based type is expected to register the highest CAGR of the market.

The packaging segment includes, Plastic Packaging, Paper-Based Packaging, Glass Packaging and Metal Packaging. Among them the market is significantly dominated by plastic packaging in 2022. The paper based packaging is expected to grow with highest CAGR in the market of flavoured milk globally. Paper-based packaging is considered more environmentally friendly compared to other packaging materials like plastics. As consumers increasingly prioritize sustainability and seek eco-friendly options, the demand for paper-based packaging has been on the rise. Paper is renewable, recyclable, and biodegradable, making it an attractive choice for brands aiming to reduce their environmental impact. Governments and regulatory bodies in various regions have been implementing stricter regulations and policies regarding single-use plastics. This has prompted companies to explore alternative packaging options, including paper-based materials. Paper-based packaging offers a unique and visually appealing aesthetic that can enhance product branding and shelf appeal. The natural texture and printability of paper allow for creative and eye-catching designs, helping flavoured milk products stand out on store shelves and attract consumer attention. The availability and cost-effectiveness of paper-based packaging solutions have improved over time. Manufacturers are finding ways to optimize production processes, reduce costs, and scale up production, making paper-based packaging more competitive with other materials in the market.

According to the report, the market is divided into flavour type, chocolate, vanilla and fruit. The chocolate flavour is leading the market of flavoured market with highest market share as well. Chocolate is a well-established and universally loved flavor. It has long been associated with indulgence and enjoyment. Consumers of all ages, including children and adults, have a natural affinity for the rich and sweet taste of chocolate. Furthermore, Chocolate flavor consistently ranks as one of the most preferred flavors in various food and beverage categories, including milk-based products. The familiarity and widespread appeal of chocolate make it a safe and reliable choice for flavoured milk manufacturers to cater to broad consumer preferences. In addition, Chocolate is often associated with indulgence, comfort, and reward. Consumers turn to chocolate-flavored milk as a treat or as a source of comfort during moments of relaxation or as a special treat for themselves or their children. This emotional connection and association contribute to the popularity of chocolate-flavoured milk. The distribution channel of the market includes Supermarket and Hypermarket, Convenience Stores, Speciality Stores, and Online. Among them the Supermarket and Hypermarket is dominating the market of flavoured milk globally in 2022. On the other hand the online channel is predicted to register the highest CAGR of the flavoured milk market globally.

Recent developments:
• September 2022: Godrej Jersey expanded its product portfolio and launched new flavoured milk Nutty Badam in the market.
• February 2022: a2 Milk Co., a premium milk company, and The Hershey Co., America's milk chocolate brand, launched their new co-branded chocolate flavoured milk. This natural chocolate milk contains nutrition combined with taste.
• August 2021: Parle Agro, the beverage company in India, diversified its product range into a dairy category by launching a range of flavoured milk, namely, Smoodh.

Companies mentioned in the report:
Danone S.A., Nestle S.A., Arla Foods amba, The Hershey Company, Royal FrieslandCampina N.V., Dairy Farmers of America, Meiji Holdings Company, Ltd., Saputo Inc., Fonterra Co-operative Group Limited, Darigold, Inc., Almarai Company, Lactalis Group, Lifeway Foods, Inc., Müller Milk & Ingredients, Amul (Gujarat Cooperative Milk Marketing Federation Ltd), Parle Agro Private Limited, Prairie Farms Dairy, Mars, Incorporated, China Mengniu Dairy Company Limited, Britannia Industries Ltd.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Flavoured Milk market with its value and forecast along with its segments
• Region-wise Flavoured Milk market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report:

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle East & Africa (UAE, Saudi Arabia, South Africa)

By Type:

• Dairy-based
• Plant-based

By Packaging:

• Plastic Packaging
• Paper-Based Packaging
• Glass Packaging
• Metal Packaging

By Flavour:

• Chocolate
• Fruit
• Vanilla
• Others

By Distribution Channel:

• Supermarket and Hypermarket
• Convenience Stores
• Speciality Stores
• Online
• Others

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Flavoured Milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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