India Milkshake Market to Reach INR 29.9 Billion by 2032, Propelled by the Health Consciousness and Dietary Shifts

August 16, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “India Milkshake Market Report by Flavor (Vanilla, Strawberry, Chocolate, Banana, and Others), Packaging (Bottles, Pouches, Cartons, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Milk Parlours, Online Stores, and Others), and Region 2024-2032”, the India milkshake market reached a value of INR 6.4 Billion in 2023. A milkshake is a popular beverage made by blending milk with ice cream and flavourings such as fruit syrups or chocolate. It is served cold, often with whipped cream and toppings for added taste and visual appeal. One defining characteristic of a milkshake is its creamy texture and rich flavour, which result from the use of dairy products. It is often thick enough to be consumed with a straw but can be adjusted to different consistencies based on personal preference. Milkshakes are versatile, allowing for a wide range of flavors and mix-ins. Some modern versions even include add-ins like cookies, candies, and brownies, enhancing their flavour profile and making them more of a dessert item. A notable feature of milkshakes is their high nutritional content, which can be both a benefit and a drawback. While they are a good source of calcium and protein, they can also be high in sugar and calories, especially when additional sweeteners and toppings are added. Healthier versions can be made using low-fat milk and ice cream, or alternative ingredients like yogurt and plant-based milk.

India Milkshake Market Trends:

The rapid urbanization and evolving lifestyle patterns in India are fueling a robust demand for diverse and enjoyable beverages. Moreover, the rising incorporation of natural and wholesome ingredients in milkshake formulations is sparking a surge in the need for healthier, nutrition-packed options. In sync with this, swift socio-economic growth, especially in burgeoning urban centres, is propelling the milkshake market growth. Concurrently, the ongoing digital revolution across sectors is driving the proliferation of online food and beverage platforms, necessitating a broad range of milkshake offerings for online retail, thereby boosting the market growth. In addition to this, the rising popularity of personalized and premium beverages is facilitating the demand for innovative and specialty milkshakes, thus stimulating market growth. The escalating health consciousness among consumers is encouraging businesses to optimize their supply chains, resulting in an increase in locally produced and preservative-free milkshake offerings and market growth. Furthermore, government initiatives to promote healthy dietary habits are significantly contributing to the milkshake market. Along with this, the trend toward wellness and self-care, especially in the context of dietary choices, is boosting the milkshake market growth. Also, a greater consumer awareness about ingredients and their impact on health is encouraging the adoption of transparently branded and ingredient-conscious milkshakes. Decentralization in milkshake production and distribution has paved the way for localized artisanal and boutique shake makers, fostering market growth. Other factors, such as regulatory policies supporting local industries and the widespread availability of raw materials, are further driving the milkshake market growth across the region. Looking forward, IMARC Group expects the market to reach INR 29.9 Billion by 2032, exhibiting a growth rate (CAGR) of 18% during 2024-2032.

Market Summary:

  • Based on the flavour, the market has been segmented into vanilla, strawberry, chocolate, banana, and others.
  • On the basis of the packaging, the market has been classified into bottles, pouches, cartons, and others.
  • Based on the distribution channel, the market has been divided into supermarkets and hypermarkets, convenience stores, milk parlors, online stores, and others.
  • State-wise, the market has been categorized 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.
  • The competitive landscape of the market has also been analyzed, with some of the key players being CavinKare Group, Mother Dairy Fruit and Vegetable Pvt. Ltd., Gujarat Cooperative Milk Marketing Federation (GCMMF) Ltd., Karnataka Milk Federation (KMF), The Hershey Company.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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, Others
Companies Covered CavinKare, Mother Dairy, GCMMF, KMF and Hershey
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
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India Milkshake Market to Reach INR 29.9 Billion by 2032, Propelled by the Health Consciousness and Dietary Shifts
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