Flavoured Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Flavoured Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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.

Flavoured milk is a processed, ready-to-drink dairy beverage that is prepared with milk, sugar, sweeteners, stabilizer, and different flavouring agents. It is processed using the pasteurization process to facilitate its storage for an extended period. Nowadays, there is a wide variety of flavoured milk available in the market, ranging from whole milk to thick milkshakes. It is rich in essential nutrients, including niacin, calcium, potassium, phosphorous, protein, riboflavin and vitamins A, D and B12. In recent years, flavoured milk has gained popularity, especially among children, due to its variety of flavours and appealing taste.

Flavoured Milk Market Trends:
The global flavoured milk market is primarily driven by the growing health-consciousness among consumers. This has encouraged them to opt for healthier drinks like flavoured milk over carbonated, soft and energy drinks. The increasing awareness about the importance of maintaining a healthy diet has further prompted them to shift toward organic flavoured milk variants with low-calorie sweeteners. In addition to this, rapid urbanization and increasing disposable incomes of consumers across the globe are positively influencing the market growth. Furthermore, with advancements in packaging techniques, the leading dairy companies are adding silver-based micro-particles with antimicrobial and self-sterilizing properties into the containers to enhance the shelf-life and maintain the taste of flavoured milk. Several manufacturers are also fortifying their products with added vitamins and minerals.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flavoured milk market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on flavour, packaging and distribution channel.

Breakup by Flavour:

Chocolate
Fruit
Vanilla
Others

Chocolate currently represents the most preferred flavoured milk variant.

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

At present, supermarkets and hypermarkets exhibit a clear dominance in the market.

Regional Insights:

Asia Pacific
North America
Latin America
Western Europe
Africa
Eastern Europe

On the geographical front, Asia Pacific holds the leading position in the market.

Competitive Landscape:
The competitive landscape of the market is also characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are Nestle S.A., Danone S.A., Arla Foods amba, Yili Industrial Group Co. Ltd., Dairy Farmers of America, Inc. and China Mengniu Dairy Co., Ltd.

Key Questions Answered in This Report

1. What was the size of the global flavoured milk market in 2022?
2. What is the expected growth rate of the global flavoured milk market during 2023-2028?
3. What has been the impact of COVID-19 on the global flavoured milk market?
4. What are the key factors driving the global flavoured milk market?
5. What is the breakup of the global flavoured milk market based on the flavour?
6. What is the breakup of the global flavoured milk market based on the distribution channel?
7. What are the key regions in the global flavoured milk market?
8. Who are the key players/companies in the global flavoured milk market?