North America Flavored Milk - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

North America Flavored Milk - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The North America Flavored Milk Market size is estimated at USD 121.18 billion in 2024, and is expected to reach USD 140.21 billion by 2029, growing at a CAGR of 2.96% during the forecast period (2024-2029).

Due to the COVID-19 pandemic, there was a strict lockdown across North America, which resulted in disruptions in the supply chain in exports and imports. However, it had little impact on dairy products. For instance, According to the United States Department of Agriculture, 3.7 billion pounds of packaged milk products were shipped by milk handlers in September 2020. This was 1.0 percent lower than a year earlier. Estimated sales of total conventional fluid milk products decreased 1.6% from a year earlier.

An increasing interest in nutritious and healthy beverages and changing eating habits are strengthening the demand for flavored milk in North America. North American children and adolescents can enhance their diet quality by consuming flavored milk, which can be easily included in their diets. Children are significantly drinking more flavored milk as compared to unflavored milk.

In the current hectic work-life schedules, consumers lack the time for a wholesome breakfast and seek out convenient drink alternatives, like flavored milk, that keep them full and nourished while on the go. This opens up lucrative opportunities for value-added, fortified, ready-to-drink flavored milk products that fulfill the consumers' nutritional breakfast needs.

North America Flavored Milk Market Trends

Surge In Demand For Fortified Milk Products

There has been a considerable shift in people's lifestyles and diet habits over the past two decades. Urbanization and consumerism drove this shift, leading to a rapid rise in the consumption of artificial beverage products, which has resulted in an increased incidence of lifestyle diseases. With the fast-paced lifestyle, the consumer wants to consume those food products which not only have good tastes but it should also have more excellent nutrition value. Consumers prefer easy-to-make flavored milk drinking forms that can be readily mixed. North Americans are increasingly adopting the usage of powdered and premix flavored milk in their homes. These forms of flavored milk can give the best of milk, making it a good proposition for every family member, particularly during breakfast. Many Americans face a lack of time due to their professional commitment. Major market players focus on inducing innovation into products by preparing organic flavored milk without any artificial ingredients.

United States Dominates the Market

The North American flavored milk market is majorly driven by the United States because of the developed and ever-rising demand for flavored milk and increasing health & nutrition concerns among Americans. Allowing reduced fat flavored milk in American schools recognizes shifting consumer preferences toward low-fat dairy. To an extent, the reduced fat flavored milk sales to the schools will increase fluid milk consumption, thereby increasing the dairy farm income. The premium chocolate market is quite popular in the United States, as people prefer treating themselves with bite-sized chocolates to limit their confectionery consumption. Dark chocolate fits pleasantly with the 'clean eating' trend in the country. Since dark chocolate was found to have numerous health benefits, consumers in the United States are opting for premium dark chocolates to have a guilt-free experience. The supermarkets and hypermarkets, like Target and Walmart, are trying to gain higher market traction by stocking up on European premium chocolate brands like Godiva. This increases the scope of international players in the United States market.

North America Flavored Milk Industry Overview

The North America Flavored Milk market is fragmented, with numerous players existing in the market. These companies are focusing on expanding facilities and product portfolios due to the growing demand for flavored milk in the beverage industry. Companies are actively involved in developing innovative tastes, encouraging food and beverage manufacturers, particularly the dairy industry, to use the most preferred flavors among the customers, enhance their product quality, and increase consumer health benefits. Key players in the market include Nestle S.A., Hershey's, Dean Foods, Danone, and Fairlife, LLC; key players are extensively investing in R&D activities which have led to numerous product launches.

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