According to the latest report by IMARC Group, titled “Flavoured Milk Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the flavoured milk market in India reached a value of INR 33.2 billion in 2021. Flavoured milk refers to a sterilized, sweetened dairy beverage manufactured using sugar, emulsifiers, flavours, colorings and milk. It consists of essential nutrients, such as potassium, proteins, zinc, calcium, carbohydrates, phosphorus, and vitamin D, A and B12. It aids in building and repairing muscles and is a healthy post-workout beverage. Flavoured milk also helps in improving immunity, metabolism, and skin texture, building bones, promoting healthy teeth, and meeting calcium requirements in the body. It is commonly packaged and stored in glass, plastic, and paper-based materials. Furthermore, Chocolate, vanilla, strawberry, banana, almond and fruit are some of the commonly available types of flavoured milk that are usually sold as a pasteurized, ultra-high temperature treated, and refrigerated product variants.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Flavoured Milk Market in India Market Trends:
The flavoured milk market in India is majorly being driven by the rising consumer health concerns, along with the growing preference for nutritional products. In line with this, the increasing popularity of flavored milk as an alternative to carbonated beverages among children and working adults due to the multiple flavors offered by the product with enhanced convenience is propelling the market growth. Apart from this, various product innovations, such as the introduction of low-sugar and fat-free flavoured milk made with natural sweeteners to meet the evolving demand of diabetic consumers are providing an impetus to the market growth. Additionally, the launch of creative packaging solutions with antimicrobial and self-sterilizing properties that aid in increasing the resistance to temperature and the shelf life of the product is positively impacting the market growth. Other factors, including rising expenditure capacities of consumers, shifting consumer preference towards ready-to-drink (RTD) beverages, and the easy availability of flavoured milk in innovative flavor profiles across both online and offline distribution channels are anticipated to drive the market toward growth across the country. On account of the aforementioned factors, the market is anticipated to reach a value of INR 127.7 Billion by 2027, growing at a CAGR of 26.01% during 2022-2027.
- On the basis of the region, the market is dominated by Maharashtra, followed by Karnataka, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, and Orissa.
- Based on the sector, the market has been segmented into retail and institutional. Currently, the retail sector holds the majority of the total market share.
- The profiles of the key players in the market have also been examined, with some of the major players being GCMMF, Mother Dairy, KMF, CavinKare, and TN Cooperative.
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