According to a new report by Expert Market Research titled, “Global Flavoured Milk Market Share, Size, Report and Forecast 2024-2032″, the global flavoured milk market reached a value of about USD 53.65 billion in 2023. Aided by increasing demand for chocolate milk and rising awareness regarding the nutritional benefits of flavoured milk, the market is projected to further grow at a CAGR of 8% between 2024 and 2032 to reach a value of nearly USD 85.15 billion by 2032.
Flavoured milk is milk that has been homogenised and pasteurised and then enriched with various flavours, colours, and sweeteners. A ubiquitous beverage, it serves as a refreshing alternative to plain milk and has captured the fancy of both children and adults alike. While it tantalises the taste buds with its diverse range of flavours, such as chocolate, vanilla, strawberry, and more, it simultaneously ensures the consumer doesn’t miss out on essential nutrients inherent to milk. A powerhouse of calcium, protein, and various vitamins, flavoured milk marries taste with health, making it an attractive offering for many.
A surge in the flavoured milk market demand can be attributed to its rising acceptance as an invigorating drink post physical activity. Athletes, gym-goers, and fitness aficionados often opt for flavoured milk, particularly the chocolate variant, as a post-workout recovery drink due to its ideal protein-to-carbohydrate ratio. This new trend is substantially propelling the flavoured milk market growth.
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Zooming into the flavoured milk market analysis, one can observe that the food and beverage industry’s innovative strides are continually broadening the horizon for flavoured milk. Apart from the traditional flavours, there’s a wave of exotic and unconventional flavours making their way into the market, such as coffee, caramel, blueberry, and even spices-infused variants. Such innovations are pivotal in keeping the consumer interest alive and kicking.
Moreover, the changing dynamics of consumption patterns, especially among the younger generation, plays a pivotal role in shaping the flavoured milk market trends. With an ever-busy lifestyle, the millennials and Gen Z are increasingly turning to ready-to-drink (RTD) beverages that are both delicious and nourishing. This shift has given a significant impetus to the RTD flavoured milk segment.
Manufacturers are making headway with organic and low-sugar variants. Additionally, fortifying flavoured milk with additional vitamins and minerals is another strategy being employed to enhance its health quotient.
In essence, the global flavoured milk market is a dynamic space, rife with opportunities. As flavours evolve and new demographics emerge, the flavoured milk market demand is set to soar. Coupled with technological advancements in packaging, distribution, and production, and underlined by the perennial love for taste and nutrition, the market is set on an upward trajectory, anticipating a vibrant future ahead.
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Market Segmentation
The market can be divided based on flavour, packaging, distribution channel, and region.
Market Breakup by Flavour
• Chocolate
• Fruits
• Vanilla
• Others
Market Breakup by Packaging
• Paper Based
• Plastic Based
• Glass Based
• Metal Based
• Others
Market Breakup by Distribution Channel
• Supermarket and Hypermarket
• Convenience Stores
• Speciality Stores
• Online
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global flavoured milk market. Some of the major players explored in the report by Expert Market Research are as follows:
• The Hershey Company
• Saputo Inc
• Nestlé S.A
• Danone SA
• Arla Foods amba
• Fonterra Co-orperative Group
• Molkerei Alois Muller GmbH & Co. Kg
• Gujarat Cooperative Milk Marketing Federation Ltd.
• Others
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