Global Chocolate Milk Market - 2023-2030

Global Chocolate Milk Market - 2023-2030

Global Chocolate Milk Market reached US$ 8.5 billion in 2022 and is expected to reach US$ 12.6 billion by 2030 growing with a CAGR of 5.1% during the forecast period 2023-2030.

Increase in the consumers demand for the ready-to-drink chocolate milk drives market growth over the forecast period. Creamy chocolate milkshakes made from the chocolate milk. Savor the delectable taste of organic chocolate milk, made with high-quality organic ingredients for a guilt-free and flavorful beverage experience. Consumers are looking for the great taste and added nutritional benefits with fortified chocolate milk, enriched with essential vitamins and minerals for a nourishing beverage choice.

Chocolate milk is mostly used to increase children's calcium and vitamin D intake. Chocolate milk contains smaller amounts of zinc, selenium, iodine, magnesium, and vitamins A, B1, B6, and B12. It is rich in the amino acid, beneficial for building and maintaining strong muscles. Increasing demand for simple, natural, nutritious, and safe on-the-go drink choices drives the chocolate milk market.

Market Dynamics

Increasing Health Benefits Awareness of Chocolate Milk Drives the Market Growth

Chocolate milk is a great source of important nutrients like calcium, Vitamin D, Potassium, Phosphorous and magnesium, as well as other minerals and electrolytes, which provide important nutritional benefits. Chocolate milk is a naturally rich source of calcium which is good for bones and teeth health. Most of the milk available in the U.S. and many other countries are fortified with vitamin D. This combination of nutrients makes chocolate milk a bone health powerhouse. Vitamin D deficiency leads to osteomalacia, which causes bone softening that increases the risk of fractures.

A single cup of chocolate milk gives more than 10% potassium which can help to lower blood pressure and improve heart health by lowering the risk of heart attack and strokes. Chocolate milk is a rich source of protein, which helps to build muscle mass. Chocolate milk significantly increases endurance, which helps to keep exercising longer. It can be prevented by the daily consumption of chocolate milk which is a rich source of Vitamin D.

Increase in the Multiple Options in Chocolate Milk Drives Market Growth

Increasing consumers demand for chocolate milk due to its rich taste. Chocolate milk is a delightful beverage that brings together both great taste and valuable nutritional benefits. It is packed with essential nutrients, such as protein, calcium, and vitamins that play a fundamental role in promoting overall health and well being. Moreover the addition of cocoa in chocolate milk contributes antioxidants to the mix offering potential health advantages.

Chocolate flavored milk gain popularity as a post workout recovery beverage. It contains healthy nutrients such as calcium,protein, and vitamins, which are important for good health. Also, increase in the new product launches in the market helps to boost segment growth over the forecast period. For instance, March 24, 2021, Jersey Dairy launched chocolate flavoured milk in the market. It is made from the UHT skimmed milk and has shelf life of 12 months.

Rise in the Diabetic and Obesity Population Hampers Market Growth Of Chocolate Market

Diabetic, obese individuals, along with health-conscious folk, are gravitating towards sugar-free drink options as an alternative to the sweet stuff. They may opting for plain milk, unsweetened plant-based milk, or beverages with artificial sweeteners. This change in consumer taste can influence the desire for chocolate milk.

According to the International Diabetes federation data published on 2021, 10.5% of the adult population between the age 20-79 years has diabetes with more than half of this population unware that they are living with same condition. According to IDF forecasts, one in every eight adults, or roughly 783 million people, will have diabetes by 2045, a 46% rise. Type 2 diabetes affects more than 90% of persons with diabetes, and it is caused by socioeconomic, demographic, environmental, and genetic variables.

COVID-19 Impact

The COVID-19 pandemic has enormously impacted how consumers shop, eat and drink. The chocolate milk market faced disruptions in the supply chain due to lockdown measures, travel restrictions, and labor shortages. These challenges resulted in delays in raw material procurement, production, and distribution, leading to temporary supply shortages in some regions.

However, the pandemic led to a surge in demand for chocolate milk as consumers stocked up on non-perishable and plant-based food items. The perceived health benefits and longer shelf life of chocolate milk contributed to its popularity during the initial phases of the pandemic. Changes in consumers lifestyle has led to increasing focus on their health. This resulted in experimentation with new low-level fat dairy products and brands during COVID-19, thus driving the market growth.

Russia-Ukraine Impact Analysis

The geopolitical tensions between Russia and Ukraine have the potential to create problems in the supply chain for chocolate milk products. Both countries possess robust agricultural sectors that contribute to the production of dairy beverages products. Including milk. Any disruptions in the supply of raw materials like milk could have an impact on the availability and production of chocolate milk in the market. Trade disputes and restrictions between Russia and Ukraine can hinder the export and import of chocolate milk products.

Resulting in market disruptions and changes in pricing. Geopolitical tensions and patriotic sentiments can also influence consumer preferences. In such situations consumers may demonstrate a preference for domestic products rather than imported ones. This could potentially lead to a shift in consumer demand for chocolate milk. With a possible increase in the consumption of locally produced alternatives.

Segment Analysis

The global chocolate milk market is segmented based on product type, distribution channel, and region.

Non-dairy Based Chocolate Milk Segment Accounted for the Highest Share in Global Chocolate Milk Market

The global chocolate milk market by product type has been segmented by dairy based chocolate milk, and non-dairy based chocolate milk.

The non-dairy-based chocolate milk segment is dominating segments in forecast period. Increasing vegan trends and demand for plant-based milk products drive the non-dairy-based chocolate milk segment growth. Non-dairy-based chocolate milk products are suitable for lactose intolerant consumers and are often perceived to contain fewer calories. Plant-based chocolate milk delivers an authentic dairy experience.

Non-dairy based chocolate milk fortifies with protein, vitamins and minerals and reduces sugar. These products are nutrient-rich, improving brain function and blood flow and lowering blood pressure. These nutrients are helping to improve heart health. Non-dairy-based chocolate milk is popular in American countries. Some of the major key players focused on launching plant-based chocolate milk in the market to increase sales. For instance, Ripple launched plant-based chocolate milk containing 50% more calcium. It is 100% dairy-free, vegan, lactose and gluten-free and loaded with nutrition.

Geographical Analysis

The Increased Demand for Chocolate Milk in North America Region Due to its Health Benifits

The Asia pacific dominated the market growth due to increasing demand for natural, healthy and nutritious beverages like chocolate milk. Chocolate milk is a rich source of calcium and other nutrients that attract consumers to buy chocolate milk. Increasing demand for the chocolate flavor and high nutritious value from children help to grow the region's market. India is the largest milk producer, attracting manufacturers to start their plants in India to reduce transportation costs. Also, chocolate milk is a rich source of calcium, and it can improve digestion and immunity system, attracting consumers across all age groups.

Some major key players like Mother Dairy Fruit & Vegetable Pvt. Ltd., Heritage Foods Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Parag Milk Foods Ltd and Nestlé S.A. are trying to expand their business in India by launching new products in the market. For instance, On September 26, 2021, KeNiuLe Dairy launched new whole white milk, low fat white milk and low fat chocolate milk product in the market. These products are rich source of protein and calcium and has longer shelf life of 28 days.

Competitive Landscape

The major global players include Nestlé S.A., The Hershey Company, Mondelez International, Inc., Amul, Meiji Holdings Company, Ltd., Clover Farms Dairy., Arla Foods, Dean Foods, Dakin Dairy and Shatto Milk Company.

Why Purchase the Report?
• To visualize the global chocolate milk market segmentation based on product type, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of chocolate milk market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global chocolate milk market report would provide approximately 53 tables, 41 figures and 122 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies