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.
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.
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 :
By Region and Country:
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.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacithe fic, Middle East, and Africa.
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:
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product, Application, Type, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 5.5%.
The global rise in demand for lactose-free goods is driving the flavored milk market.
Major global Flavored Milk Market players 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
Because of the availability of inexpensive substitutes, the market expansion is restricted.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Flavored Milk market.
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