Flavored Milk Market

Flavored Milk Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Flavored Milk Market grew at a CAGR of 5.1% between 2017-2021 and is estimated to be US$ 51,443.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.5% and is expected to reach a valuation of US$ 87,872.4  Mn by 2032 end.

Throughout the projected period, the market is anticipated to grow in response to rising demand for Flavored milk is a highly palatable as well as a nourishing beverage. People often consume flavored milk to help them, particularly children to meet their daily dairy food and calcium intake. Flavored milk no doubt provides all the vitamins, minerals, and nutrients that may not be present in normal milk.

Market Dynamic

RISING HEALTH CONCERNS WILL BOOST THE MARKET FOR FLAVORED MILK

The flavored milk industry is growing at a rapid pace and it is due to several factors. Firstly, there is an increasing awareness amongst the population regarding health concerns. Secondly, the rising disposable income of consumers and also the growing population, this has compelled them to shift to a healthier substitute for milk. Thirdly, there is a high demand for ready-to-drink beverages that can suit the hustle and bustle lifestyle of the people. Fourthly, with the growing concerns about health in developing regions force urban consumers to swap healthy beverage options like carbonated soft drinks and even juices for flavored milk. These are some of the factors that drive the growth of the flavored milk industry.

THE AVAILABILITY OF CHEAP SUBSTITUTES WILL HAMPER THE MARKET GROWTH

There are replacements for some of the eateries listed in the flavored milk market research report. Institutes are available for a less expensive product that customers choose. Additionally, there are numerous alternatives with lower rates accessible. Preservatives and food additives are also contested by many people. For people, food chemicals and preservatives are another health risk. Thus, the flavored milk sector has grown significantly as a result of these factors.

AS AN ALTERNATIVE TO VARIOUS PRODUCTS IT WILL CREATE MORE OPPORTUNITIES FOR THE MARKET

The flavored milk market is a growing sector. In addition to the health benefits of flavored milk, there are numerous alternatives available that customers can choose from.

In addition to this, the industry has grown significantly due to the rise in the popularity of preservatives and food additives. People have become more conscious about the food they eat and their health, which is why they are choosing flavored milk as an alternative option.

COVID-19 Impact

In the year 2020, In the coronaviruses flavored milk market has been greatly affected by the pandemic. This is because traditional flavors have been replaced with new ones that were not only available during the pandemic. Production and customer service have been affected as well. Flavored milk ok is still available without cost substitutes, which makes it difficult to buy during the lockdown. Lockdown has also snatched away employment from workers. However, by 2022 things should get back to normal as vaccination has begun.

Market Segments Covered in Report

By Product :

• Long-Life Flavored Milk
• Fresh Flavored Milk

By Application:

• Supermarkets and Hypermarkets
• Independent Retailers
• Convenience Stores
• Others

By Type:

• Dairy-based
• Plant-based

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is Dairy-based projected to ensure the most revenue during the forecast period?

The dairy-based segment is expected to hold 66.9 % of the overall market share in terms of revenue by 2031. This is because dairy products are known as milk products, and milk is a primary source of protein for humans. The cow, water buffalo, nanny goat, sheep, and camel are the most prevalent dairy animals. Dairy goods include yogurt, cheese, and butter, which are common grocery store foods in the Western world. These dairy goods vary widely in size and shape depending on who produced them—from small curds too small pools filled with liquid—and how long it took them to become ready for consumption.

Why is the Supermarket segment expected to expand the fastest during the forecast period?

Supermarkets are expected to hold 45.0% of the overall market share in terms of revenue by 2031. The largest retail store in the world, supermarkets offer milk and other home items as well as grocery items like vegetables and meat. These stores usually have self-serve stations where customers can make their food selections, which has led to a huge increase in demand for milk products around the world. To meet this demand, milk manufacturers are now adding artificial flavors, colors, and sweeteners to cow’s milk so that it can be sold in supermarkets.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacithe fic, Middle East, and Africa.

• In 2021, the North American market held a sizeable revenue share of 26.4%.The growth in this market is driven by an increase in demand for cheese and yogurt, which is expected to be driven by increased demand for flavored dairy products in Canada and the U.S.

• The Asia Pacific region accounted for the largest market share in 2021. Flavored milk is in high demand in Asia-Pacific countries such as China, Indonesia, and India. By 2031, China is predicted to have the greatest share of the worldwide flavored milk market, followed by the United States and India

Competition Analysis

Major corporations are utilizing organic and inorganic development tactics to strengthen their position in the market by diversifying the products they provide.

Some of the key developments that have taken place in the Flavored Milk Market include:

• In September 2020, FrieslandCampina WAMCO purchased the dairy division of Nutricima, the company behind several powdered, evaporated, and ready-to-drink milk products like Olympic, Coast, and Nunu.
• in August 2019, The market for ready-to-drink milk received a new taste when Nestle India, a major player in the food business, entered the fray. The culinary juggernaut has now debuted its Fruit n Milk in Delhi after debuting it in Mumbai and Pune last week. The first varieties to be made available were mango and strawberry.

A list of some of the key suppliers present in the market are:

• Danone Ltd.
• Kraft Foods Group, Inc.
• Inner Mongolia Yili Industrial Group
• Amul
• Nestlé
• Fonterra Co-operative Group
• Lactalis International
• Dean Foods
• Hiland
• Umang Daries Pvt. Ltd.
• DAIRY FARMERS OF AMERICA
• FrieslandCampina
• Arca Continental S.A.B. de C.V.
• Derechos reservados
• LALA BRANDED PRODUCTS, LLC

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.