Flavored milk is a dairy beverage where, additional flavors such as chocolate, vanilla, butterscotch, and strawberry among others are added to white milk to make it different from the conventional white milk. The key ingredients of flavored milk are milk, sugar, colorings, additional flavor, and sweetener.
Synopsis of Flavored Milk Market
Due to the changing lifestyles of the consumers, the demand for ready to drink products is increasing at a fast pace. Also, various new beverage products are launched in different flavors in order to suit the specific requirement of the customers. Beverage industries are experiencing a substantial growth over the last few years. Dairy-based beverage products are gaining traction both in developed and developing economies. The increasing population coupled with the per capita disposable income is anticipated to fuel the sales of the dairy-based beverages in the upcoming decade.
Growing confectionery industry and increasing demand for dairy products is supporting the growth of flavored milk market. Long shelf-life of the product is having a positive impact on the growth of the Flavored Milk Market. The key players are constantly making efforts to come up with new flavors in the market which is adding fuel to the growth of the market.
• Flavored milk manufacturers
• Dairy industry
• Raw material suppliers
• Retailers and wholesalers
• E-commerce industry
• Traders, importers, and exporters
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• Flavored milk has a massive opportunity in the global beverages market
• Asia Pacific is the fastest growing region in the flavored milk market. India and China has shown huge potentials for the flavored milk market share during the review period, 2017-2023
• Feb 2016 Coca-Cola India, one of the country’s leading beverage companies, has launched its flavored milk offering – VIO. The new offering further expands Coca-Cola’s existing portfolio of beverages, providing consumers more choice
The global flavored milk market is segmented into the flavor, packaging material, and distribution channel.
On the basis of the flavor, it is segmented into chocolate, vanilla, butterscotch, strawberry, and others. Among all the flavor’s, the chocolate segment holds the major market share followed by the vanilla segment. The primary reason for the growth of the chocolate flavor segment is their extensive use owing to high consumer demand.
On the basis of the packaging material, it is segmented into plastic, glass, paper, metal, and others. Among all the packaging types, the plastic segment is dominating the market followed by the metal owing to the ease of handling and logistics.
On the basis of the distribution channel, it is segmented in store-based and non-store based. Among both, the store-based distribution channel is dominating the market owing to the availability of wide range of products followed by the convenience of finding all products under one roof is driving the growth of this segment.
The global flavored milk market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Among all, Asia Pacific region is expected to retain its dominance throughout the forecast period. This is attributed to the high consumption of milk products, increasing per capita disposable income coupled with the rising awareness of health benefits among the consumers in developing economies like India, China, and Indonesia. Additionally, in the Asia Pacific region, China and India offer a lucrative opportunity for the flavored milk manufacturers.
Moreover, North America is projected to witness a steady growth during the review period. However, Latin American region is projected to show a high potential in the flavored milk market owing to the rising disposable income and increasing consumption of flavored milk as a beverage in this region.
Some of the key players profiled in the global flavored milk market: Nestle S.A. (Switzerland), Danone (France), Arla Foods Amba (Denmark), Associated Milk Producers, Inc. (U.S.), Bright Food (Group) Co., Ltd.(China), Dairy Farmers of America, Inc. (U.S.), Dean Foods Company (U.S.), Koninklijke FrieslandCampina NV (the Netherlands), Grupo Lala, S.A.B. de C.V. (Mexico), and Amul Industries Pvt Ltd. (India)
The report for global flavored milk market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the various segments and regions of the market.