Global Flavoured Milk Market Overview, 2023-28

Global Flavoured Milk Market Overview, 2023-28

As consumer preference for flavours has increased over the last few years, manufacturers and suppliers of dairy products must optimise their product offerings to meet consumer demand. The growing health consciousness of consumers is the primary driver of the global market for flavoured milk. This has urged them to choose better beverages like seasoned milk over carbonated, delicate, and caffeinated drinks. They've also switched to organic-flavoured milk with low-calorie sweeteners as a result of a growing awareness of the importance of eating well. In addition, the market's expansion is being aided by worldwide consumer disposable income growth and rapid urbanisation. Additionally, leading dairy producers are incorporating silver-based microparticles with antimicrobial and self-sterilising properties into their packaging in order to extend the shelf life of flavoured milk and maintain its flavour. Vitamins and minerals are also being added to the products of a number of manufacturers. Companies are introducing locally-preferred flavours in the global flavoured milk market, which has been observed to be trending towards new flavour and packaging developments. Besides, there is an inclination for organic product flavours among kids, which has incited makers to foster new item developments. In addition, in order to meet the requirements of the populace, businesses are introducing flavoured milk varieties with improved functional properties. They are also offering low-sugar and fat-free flavours of flavoured milk products to appeal to the growing diabetic and health-conscious population. Organisations are presenting enhanced milk in a hurry to build their contributions and client base, perceiving the open door introduced by more occupied ways of life and the requirement for comfort.

According to the research report, ""Global Flavoured Milk Market Overview, 2023–28,"" published by Bonafide Research, the global market for flavoured milk is anticipated to cross USD 75.58 Billion, increasing from USD 51.11 Billion in 2022. The market is expected to grow at a CAGR of 6.86% by 2023–2028. Consumers are increasingly seeking unique and flavorful beverage options. Flavoured milk offers a wide range of tastes, including chocolate, strawberry, vanilla, and more, catering to different consumer preferences. It provides a delicious and enjoyable alternative to plain milk. The Region Covered in the flavouring milk market report are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. At the global level, the Asia-Pacific market has the highest market share. The Asia-Pacific region is home to a significant portion of the global population, with countries like China and India having large populations. This translates into a vast consumer base, creating a high demand for flavoured milk products. The Asia-Pacific region has a strong dairy industry and is a major milk producer. This abundant supply of milk provides a stable and reliable source for the production of flavoured milk products. Several governments in the Asia-Pacific region have implemented policies and initiatives to promote the dairy industry and encourage the consumption of milk and milk-based products. These initiatives have played a role in boosting the flavoured milk market and its share. Based on the types, which include dairy-based products and plant-based products, at the global level, dairy-based products have the highest market share. Dairy-based products offer versatility in terms of their usage and application. Milk can be consumed on its own, used as an ingredient in various recipes, or served as a base for other dairy products such as yoghurt, cheese, and flavoured milk. This versatility enhances the appeal of dairy-based products and expands their market share.

Based on Flavour Segment includes chocolate, fruit, vanilla, and others. At a global level, the chocolate segment is leading the market. Chocolate is a universally beloved flavour that appeals to people of all ages. The rich, creamy, and sweet taste of chocolate creates a pleasurable sensory experience for consumers. This widespread appeal contributes to the popularity and market share of chocolate-flavoured milk. Chocolate-flavoured milk offers a combination of indulgence and nutrition. It allows consumers to satisfy their sweet cravings while also providing the nutritional benefits of milk. This balance between indulgence and nutrition makes chocolate-flavoured milk a preferred choice for many consumers. Based on the packaging types, the segment includes plastic packaging, paper-based packaging, glass packaging, and metal packaging. At a global level, plastic packaging has the highest market share. Due to Plastic packaging is generally more cost-effective compared to other packaging materials. It is less expensive to produce, transport, and store, making it a preferred choice for manufacturers and retailers. The lower production costs contribute to its higher market share. As well, many plastic packaging materials are transparent or semi-transparent, allowing consumers to see the product inside. This transparency helps build trust and allows consumers to visually assess the quality and condition of the flavoured milk before purchasing. The transparency of plastic packaging positively influences its market share.

Based on the distribution channel, it includes supermarkets and hypermarkets, convenience stores, specialty stores, online, and others. At a global level, hypermarkets and supermarkets are leading the flavoured milk market. There are various hypermarkets and supermarkets that offer a variety of flavoured milk. In the future, the online segment is expected to grow at the highest CAGR rate. Online platforms provide convenience and accessibility to consumers. They can browse and purchase flavoured milk products from the comfort of their homes or on the go, without the need to physically visit a store. This convenience factor has contributed to the increasing popularity of online shopping for flavoured milk. The global shift in consumer behaviour towards online shopping has accelerated the growth of the online segment. Factors such as increased smartphone usage, internet penetration, and the convenience of online transactions have influenced consumers to opt for online platforms for their flavoured milk purchases. This change in consumer behaviour has been instrumental in driving the growth of the online segment.

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 Products Type

• Dairy-Based
• Plant-Based

By Packaging types

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

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, analyzing 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 Artificial Lawn 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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