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India Milkshake Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

India Milkshake Market Outlook 2021-2026

The Indian milkshake market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of 25.3% during 2021-2026. The market is currently being driven by numerous factors such as a large young population, changing lifestyles, convenience, value addition, health consciousness, etc.

A milkshake is a cold and blended dairy-based beverage prepared using milk, ice-creams, flavoring syrups and sugars. It is available in a wide variety of flavors, such as vanilla, chocolate and strawberry. Various toppings, including sweetened dry cereal, toasted coconut, marshmallows, biscuits, fresh fruits, cinnamon, clove and dry cakes, are added to enhance the flavor of the beverage. Certain cafes and restaurants also offer savory variants prepared using olive oil, sesame seeds and sea salt. Thick milkshakes are usually prepared using commercial milkshake machines in professional kitchens, which have specialized settings for blending speed to adjust the consistency of the shake. They are commonly served in bottles, pouches and cartons.

India Milkshake Market Trends:

Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market in the country. Moreover, increasing private label offerings across India is providing a thrust to the market growth. International milkshake brands are also establishing their franchise outlets in metropolitan cities for convenient product distribution. In line with this, changing lifestyles and dietary patterns of the consumers are also contributing to the market growth. With the increasing number of shopping malls and recreational centers, there is a shifting preference among consumers, especially millennials, from carbonated drinks toward milkshakes as a healthier alternative. Additionally, various product innovations, such as the launch of packaged milkshakes in novel flavors and ready-to-drink (RTD) travel-friendly packaging solutions, are acting as other growth-inducing factors. Product manufacturers are also developing milkshakes with natural and organic ingredients with no preservatives and artificial sugars to attract a wider consumer base. Other factors, including rapid urbanization, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India milkshake market report, along with forecasts for growth at the country and state level from 2021-2026. Our report has categorized the market based on flavor, packaging and distribution channel.

Breakup by State

  • Karnataka
  • Maharashtra
  • Tamil Nadu
  • Delhi
  • Gujarat
  • Andhra Pradesh and Telangana
  • Uttar Pradesh
  • West Bengal
  • Kerala
  • Haryana
  • Punjab
  • Rajasthan
  • Madhya Pradesh
  • Bihar
  • Orissa
  • Others
     

Breakup by Flavor

  • Vanilla
  • Strawberry
  • Chocolate
  • Banana
  • Others
     

Breakup by Packaging

  • Bottles
  • Pouches
  • Cartons
  • Others
     

Breakup by Distribution Channel

  • Supermarket and Hypermarkets
  • Convenience Stores
  • Milk Parlours
  • Online Stores
  • Others
     

Value Chain Analysis

Key Drivers and Challenges

Porters Five Forces Analysis

Government Regulations

Competitive Landscape

  • Competitive Structure
  • Key Player Profiles
    • CavinKare
    • Mother Dairy
    • GCMMF
    • KMF
    • Hershey
       

This report provides a deep insight into the Indian milkshake market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for milkshake manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian milkshake market in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units INR Billion, Million Litres
Segment Coverage Flavor, Packaging, Distribution Channel, State
States Covered Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, Orissa and Others
Companies Covered CavinKare, Mother Dairy, GCMMF, KMF and Hershey
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 1999
Five User License: US$ 2999
Corporate License: US$ 3999
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Indian Dairy Industry
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Organised and Unorganised Segment
    5.4    Milk Production and Consumption Trends
        5.4.1 Current and Historical Trends
        5.4.2 Production and Consumption Forecast
    5.5    Milk Production by State
    5.6    Milk Production by Cattle
    5.7    Market Breakup by Region 
    5.8    Market Forecast 
6  Indian Milkshake Industry
    6.1    Market Overview
    6.2    Market Performance
        6.2.1 Volume Trends
        6.2.2 Value Trends
    6.3    Impact of COVID-19
    6.4    Price Trends
    6.5    Market Breakup by State
    6.6    Market Breakup by Flavor
    6.7    Market Breakup by Packaging
    6.8    Market Breakup by Distribution Channel
    6.9    Market Forecast
    6.10    SWOT Analysis
        6.10.1    Overview
        6.10.2    Strengths
        6.10.3    Weaknesses
        6.10.4    Opportunities
        6.10.5    Threats
    6.11    Value Chain Analysis
    6.12    Porter’s Five Forces Analysis
        6.12.1    Overview
        6.12.2    Bargaining Power of Buyers
        6.12.3    Bargaining Power of Supplier
        6.12.4    Degree of Competition
        6.12.5    Threat of New Entrants
        6.12.6    Threat of Substitutes
    6.13    Key Success Factors and Risk Factors
7   Market Breakup by Flavor
    7.1    Vanilla
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Strawberry
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Chocolate
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Banana
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Others
        7.5.1    Market Trends
        7.5.2    Market Forecast
8   Market Breakup by Packaging
    8.1    Bottles
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Pouches
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Cartons 
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Others
        8.4.1    Market Trends
        8.4.2    Market Forecast
9   Market Breakup by Distribution Channel
    9.1    Supermarkets and Hypermarkets
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Convenience Stores
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Milk Parlors
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Online Stores
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Others
        9.5.1    Market Trends
        9.5.2    Market Forecast
10    Performance of Key Regions
    10.1    Karnataka
    10.2    Maharashtra
    10.3    Tamil Nadu
    10.4    Delhi
    10.5    Gujarat
    10.6    Andhra Pradesh and Telangana
    10.7    Uttar Pradesh
    10.8    West Bengal
    10.9    Kerala
    10.10   Haryana
    10.11   Punjab
    10.12   Rajasthan
    10.13   Madhya Pradesh
    10.14   Bihar
    10.15   Orissa
    10.16   Others
11    Competitive Landscape
    11.1    Competitive Structure
    11.2    Market Share of Key Players
12   Key Player Profiles
     12.1    GCMMF
     12.2    KMF
     12.3    Mother Dairy
     12.4    CavinKare
     12.5    Hershey

List of Figures

Figure 1: India: Dairy Market: Major Drivers and Challenges
Figure 2: India: Dairy Market (in Billion INR), 2015-2020
Figure 3: India: Dairy Market: Breakup by Segment (in %), 2020
Figure 4: India: Dairy Market: Total Milk Production (in Million Metric Tons), 2015-16 - 2020-21
Figure 5: India: Dairy Market: Total Milk Consumption (in Million Metric Tons), 2015-16 - 2020-21
Figure 6: India: Dairy Market: Total Milk Production Forecast (in Million Metric Tons), 2021-22 – 2026-27
Figure 7: India: Dairy Market: Total Milk Consumption Forecast (in Million Metric Tons), 2021-22 – 2026-27
Figure 8: India: Milk Utilisation Patterns
Figure 9: India: Dairy Market Forecast (in Billion INR), 2021-2026
Figure 10: India: Milkshake Market: Major Drivers and Challenges
Figure 11: India: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 12: India: Milkshake Market: Value Trends (in Billion INR), 2015-2020
Figure 13: India: Milk Market: Procurement Prices (in INR/Litre), 2015-2020
Figure 14: India: Milkshake Market: Average Prices (in INR/Litre), 2015-2020
Figure 15: India: Milkshake Market: Breakup by Flavor (in %), 2020
Figure 16: India: Milkshake Market: Breakup by Packaging (in %), 2020
Figure 17: India: Milkshake Market: Breakup by Distribution Channel (in %), 2020
Figure 18: India: Milkshake Market: Breakup by State (in %), 2020
Figure 19: India: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026 
Figure 20: India: Milkshake Market Forecast: Value Trends (in Billion INR), 2021-2026
Figure 21: India: Milkshake Industry: SWOT Analysis
Figure 22: India: Milkshake Industry: Value Chain Analysis
Figure 23: India: Milkshake Industry: Porter’s Five Forces Analysis
Figure 24: India: Milkshake Market (Vanilla): Volume Trends (in Million Litres), 2015 & 2020
Figure 25: India: Milkshake Market Forecast (Vanilla): Volume Trends (in Million Litres), 2021-2026
Figure 26: India: Milkshake Market (Strawberry): Volume Trends (in Million Litres), 2015 & 2020
Figure 27: India: Milkshake Market Forecast (Strawberry): Volume Trends (in Million Litres), 2021-2026
Figure 28: India: Milkshake Market (Chocolate): Volume Trends (in Million Litres), 2015 & 2020
Figure 29: India: Milkshake Market Forecast (Chocolate): Volume Trends (in Million Litres), 2021-2026
Figure 30: India: Milkshake Market (Banana): Volume Trends (in Million Litres), 2015 & 2020
Figure 31: India: Milkshake Market Forecast (Banana): Volume Trends (in Million Litres), 2021-2026
Figure 32: India: Milkshake Market (Other Flavors): Volume Trends (in Million Litres), 2015 & 2020
Figure 33: India: Milkshake Market Forecast (Other Flavors): Volume Trends (in Million Litres), 2021-2026
Figure 34: India: Milkshake Market (Bottles): Volume Trends (in Million Litres), 2015 & 2020
Figure 35: India: Milkshake Market Forecast (Bottles): Volume Trends (in Million Litres), 2021-2026
Figure 36: India: Milkshake Market (Pouches): Volume Trends (in Million Litres), 2015 & 2020
Figure 37: India: Milkshake Market Forecast (Pouches): Volume Trends (in Million Litres), 2021-2026
Figure 38: India: Milkshake Market (Cartons): Volume Trends (in Million Litres), 2015 & 2020
Figure 39: India: Milkshake Market Forecast (Cartons): Volume Trends (in Million Litres), 2021-2026
Figure 40: India: Milkshake Market (Other Packaging Types): Volume Trends (in Million Litres), 2015 & 2020
Figure 41: India: Milkshake Market Forecast (Other Packaging Types): Volume Trends (in Million Litres), 2021-2026
Figure 42: India: Milkshake Market: Sales through Supermarkets and Hypermarkets (in Million Litres) 2015 & 2020
Figure 43: India: Milkshake Market Forecast: Sales through Supermarkets and Hypermarkets (in Million Litres), 2021-2026
Figure 44: India: Milkshake Market: Sales through Convenience Stores (in Million Litres), 2015 & 2020
Figure 45: India: Milkshake Market Forecast: Sales through Convenience Stores (in Million Litres), 2021-2026
Figure 46: India: Milkshake Market: Sales through Milk Parlours (in Million Litres), 2015 & 2020
Figure 47: India: Milkshake Market Forecast: Sales through Milk Parlours (in Million Litres), 2021-2026
Figure 48: India: Milkshake Market: Sales through Online Stores (in Million Litres), 2015 & 2020
Figure 49: India: Milkshake Market Forecast: Sales through Online Stores (in Million Litres), 2021-2026
Figure 50: India: Milkshake Market: Sales through Other Distribution Channels (in Million Litres), 2015 & 2020
Figure 51: India: Milkshake Market Forecast: Sales through Other Distribution Channels (in Million Litres), 2021-2026
Figure 52: Karnataka: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 53: Karnataka: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 54: Karnataka: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 55: Karnataka: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 56: Maharashtra: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 57: Maharashtra: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 58: Maharashtra: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 59: Maharashtra: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 60: Tamil Nadu: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 61: Tamil Nadu: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 62: Tamil Nadu: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 63: Tamil Nadu: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 64: Delhi: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 65: Delhi: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 66: Delhi: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 67: Delhi: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 68: Gujarat: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 69: Gujarat: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 70: Gujarat: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 71: Gujarat: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 72: Andhra Pradesh and Telangana: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 73: Andhra Pradesh and Telangana: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 74: Andhra Pradesh and Telangana: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 75: Andhra Pradesh and Telangana: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 76: Uttar Pradesh: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 77: Uttar Pradesh: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 78: Uttar Pradesh: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 79: Uttar Pradesh: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 80: West Bengal: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 81: West Bengal: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 82: West Bengal: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 83: West Bengal: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 84: Kerala: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 85: Kerala: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 86: Kerala: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 87: Kerala: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 88: Haryana: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 89: Haryana: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 90: Haryana: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 91: Haryana: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 92: Punjab: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 93: Punjab: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 94: Punjab: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 95: Punjab: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 96: Rajasthan: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 97: Rajasthan: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 98: Rajasthan: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 99: Rajasthan: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 100: Madhya Pradesh: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 101: Madhya Pradesh: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 102: Madhya Pradesh: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 103: Madhya Pradesh: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 104: Bihar: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 105: Bihar: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 106: Bihar: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 107: Bihar: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 108: Orissa: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 109: Orissa: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 110: Orissa: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 111: Orissa: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026
Figure 112: Others: Milkshake Market: Volume Trends (in Million Litres), 2015-2020
Figure 113: Others: Milkshake Market: Value Trends (in Million INR), 2015-2020
Figure 114: Others: Milkshake Market Forecast: Volume Trends (in Million Litres), 2021-2026
Figure 115: Others: Milkshake Market Forecast: Value Trends (in Million INR), 2021-2026

List of Tables

Table 1: India: Dairy Market: Key Industry Highlights, 2020 and 2026
Table 2: India: Dairy Market: Milk Production Breakup by State (in Million Litres), 2015-16 - 2020-21
Table 3: India: Dairy Market: Milk Production Breakup by Cattle (in Million Litres), 2015-16 - 2020-21
Table 4: India: Milkshake Market Forecast: Breakup by Flavor (in Million Litres), 2021-2026
Table 5: India: Milkshake Market Forecast: Breakup by Packaging (in Million Litres), 2021-2026
Table 6: India: Milkshake Market Forecast: Breakup by Distribution Channel (in Million Litres), 2021-2026
Table 7: India: Milkshake Market Forecast: Breakup by State (in Million Litres), 2021-2026
Table 8: India: Milkshake Market: Competitive Structure
Table 9: India: Milkshake Market: Key Players

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Key Question Answered in this Report

We expect the India milkshake market to exhibit a CAGR of 25.3% during 2021-2026.

The growing penetration of western food trends, along with the increasing demand for ready-to-drink (RTD) beverages, represent some of the key factors driving the India milkshake market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the country resulting in temporary shutdown of numerous cafes and quick-serve restaurants, thereby limiting the sales of milkshakes. 

Based on the flavor, the India milkshake market can be divided into vanilla, strawberry, chocolate, banana, and others. Currently, chocolate represents the largest segment.

Based on the packaging, the India milkshake market has been segmented into bottles, pouches, cartons, and others. Among these, cartons exhibit a clear dominance in the market.

Based on the distribution channel, the India milkshake market can be bifurcated into supermarket and hypermarkets, convenience stores, milk parlors, online stores, and others. Currently, convenience stores account for majority of the total market share.

On a regional level, the market has been classified into Karnataka, Maharashtra, Tamil Nadu, Delhi, Gujarat, Andhra Pradesh and Telangana, Uttar Pradesh, West Bengal, Kerala, Haryana, Punjab, Rajasthan, Madhya Pradesh, Bihar, Orissa, and others, where Maharashtra currently dominates the India milkshake market.

Some of the major players in the India milkshake market include CavinKare, Mother Dairy, GCMMF, KMF, and Hershey.

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