According to the latest report by IMARC Group, titled "Flavoured Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global flavoured milk market reached a value of US$ 49.3 Billion in 2021. Flavoured milk refers to a sweetened dairy drink that has a longer shelf life than conventional milk products. It consists of milk, sugar, sweeteners, preservatives, food colorings, and numerous artificial or natural flavours, such as mango, vanilla, chocolate, coffee and butterscotch. It is widely available as a pasteurized, refrigerated product or ultra-high-temperature (UHT) treated flavoured variant. It is rich in essential nutrients, including niacin, calcium, potassium, phosphorous, protein, riboflavin and vitamins A, D and B12. It is convenient to use and characterized by an appealing taste due to which it is gaining widespread popularity, especially among children.
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.
Global Flavoured Milk Market Trends:
The market is primarily driven by the growing health-consciousness among consumers. The numerous health benefits offered by the regular consumption of flavoured milk and the limited concentration of sugar present in it have facilitated its uptake. Multiple variants with low-calorie sweeteners are also available in the market, which are gaining widespread preference among consumers. Apart from this, the rising trend of on-the-go lifestyle led by individuals, supported by inflating disposable incomes and shifting lifestyle preferences, has led to an increase in the consumption of ready-to-drink beverages. Growing awareness regarding the importance of maintaining a healthy diet among the consumers has led them to substitute high-calorie and carbonated soft drinks with organic flavoured milk variants, which, in turn, is creating a positive outlook for the market. The introduction of lactose-free flavoured milk in the market is acting as another major growth-inducing factor. This, along with advancements in production technology and the increasing demand for refrigerated milk products, is expected to drive the market further. On account of the aforementioned factors, the market is expected to grow at a CAGR of 7.4% during 2022-2027.
- Based on the flavour, the market has been divided into chocolate, fruit, vanilla and others, wherein chocolate represents the most preferred flavoured milk variant.
- On the basis of the packaging, the market has been classified into paper, plastic, glass and metal.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others. At present, supermarkets and hypermarkets exhibit a clear dominance in the market.
- On the geographical front, Asia Pacific holds the leading position in the market. Other major markets include North America, Latin America, Western Europe, Africa and Eastern Europe.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players are Nestlé S.A., Danone S.A., Arla Foods amba, Yili Industrial Group Co., Ltd., Dairy Farmers of America, Inc., and China Mengniu Dairy Company Limited.
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