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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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