The latest report by IMARC Group, titled “India Milkshake Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027”, finds that the India milkshake market reached a value of INR 4.3 Billion in 2021. A milkshake is a thoroughly blended or shaken drink made of milk, ice cream, and flavoring syrups such as chocolate, strawberry, and vanilla. Various toppings, including toasted coconut, biscuits, sweetened dry cereal, marshmallows, fresh fruits, cinnamon biscuits, and cove and dry cakes, are used to enhance the flavor of the beverage. It may be made with dairy or non-dairy products such as plant milks, including coconut, soy, and almond milk. Milkshake is generally prepared in full-service restaurants and diners using commercial milkshake machines, which have specialized settings to adjust the consistency of the shake. Nowadays, it is generally available in innovative packaging such as pouches, bottles, and cartons.
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.
One of the primary factors driving the market is the rapid growth in the food and beverage (F&B) industry. Besides this, the significant shift of consumers toward healthier alternatives, such as dairy products instead of carbonated drinks, has propelled the market growth. In line with this, the increasing private label offerings across the country and the establishment of franchise outlets of various international milkshake brands for convenient product distribution are catalyzing the market growth. Moreover, various product innovations, such as the introduction of packaged milkshakes in novel flavors and ready-to-drink (RTD) travel-friendly packaging solutions, are strengthening the market. For Instance, the launch of resealable, single-serve plastic bottles or tetra packs has made the consumption of milkshakes more convenient for consumers. This, coupled with the rising production of milkshakes with natural or organic ingredients with zero preservatives and artificial sugars, is attracting a wider consumer base. Looking forward, the IMARC Group expects the market value to reach INR 13.9 Billion by 2027, expanding at a CAGR of 20.82% during the forecast period (2022-2027).
- Based on the flavor, 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.
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