New York, United States , July 28, 2024 (GLOBE NEWSWIRE) -- The Global Flavored Milk Market Size is to Grow from USD 54.8 Billion in 2023 to USD 97.8 Billion By 2033, at a Compound Annual Growth Rate (CAGR) of 5.96% during the projected period.
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Flavored milk is a processed dairy drink made with milk, sugar, sweeteners, stabilizers, and various flavoring agents. It undergoes pasteurization to prolong its shelf life. The global flavored milk market is primarily driven by increasing consumer awareness of health, which has shifted preferences toward healthier beverages like flavored milk over carbonated drinks, soft drinks, and energy drinks. There is a growing preference for organic flavored milk with low-calorie sweeteners due to heightened awareness of healthy eating. Furthermore, rapid urbanization and higher disposable incomes are contributing positively to market expansion. Innovations in packaging technology, such as the integration of silver-based micro-particles with antimicrobial and self-sterilizing properties, are enhancing the shelf life and preserving the taste of flavored milk. Leading dairy companies are also enhancing their products by adding vitamins and minerals. However, the flavored milk market faces challenges from the growing global vegan population and increasing rates of lactose intolerance, which are significant factors hindering its growth.
Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the "Global Flavored Milk Market Size, Share, and COVID-19 Impact Analysis, By Flavor (Chocolate, Fruit, Vanilla, Others), By Packaging (Paper Based, Plastic Based, Glass Based, Metal Based), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033"
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The chocolate segment dominates the market with the highest market share of the flavored milk market during the projected period.
Based on the flavor, the flavored milk market is divided into chocolate, fruit, vanilla, and others. Among these, the chocolate segment dominates the market with the highest market share of the flavored milk market during the projected period. Chocolate-flavored milk offers a delightful and comforting sensory experience, making it highly favored by consumers. Moreover, increasing awareness of the health advantages of dark chocolate, including its antioxidants and mood-enhancing properties, has driven consumers to select chocolate-flavored milk as a healthier treat.
The paper-based segment is expected to grow at the highest CAGR in the flavored milk market during the projected period.
Based on the packaging, the flavored milk market is categorized into paper-based, plastic-based, glass-based, and metal-based. Among these, the paper-based segment is expected to grow at the highest CAGR in the flavored milk market during the projected period. The growth of the paper-based packaging segment in the flavored milk market is mainly driven by its eco-friendly appeal, appealing to consumers who prioritize sustainability. Paper-based cartons are favored for their resealability and recyclability.
The supermarkets and hypermarkets segment is expected to grow at the highest CAGR in the flavored milk market during the projected period.
Based on the distribution channel, the flavored milk market is categorized into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others. Among these, the supermarkets and hypermarkets segment is expected to grow at the highest CAGR in the flavored milk market during the projected period. Supermarkets and hypermarkets lead the flavored milk market by offering convenience and variety, which appeal specially to busy urban consumers. These large retail venues showcase a diverse array of flavored milk products, promoting competition and stimulating innovation in product development.
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Asia Pacific is expected to hold the largest share of the flavored milk market over the forecast period.
Asia Pacific is expected to hold the largest share of the flavored milk market over the forecast period. The flavored milk market in the Asia Pacific region is experiencing rapid growth driven by changing consumer preferences towards healthier beverages and rising disposable incomes. Increasing health consciousness among consumers has led to a demand for products that combine taste with nutritional benefits. With its large and diverse population, the region represents a substantial market opportunity, encouraging manufacturers to tailor their offerings to suit diverse flavor preferences and local tastes.
North America is predicted to grow at the fastest pace in the flavored milk market during the projected period. The increase in health consciousness, growing demand for ready-to-drink beverages, and the availability of a variety of flavors and packaging options have been crucial factors. In the United States, flavored milk holds a dominant market share. Dietary habits are changing significantly, with a notable increase in flavored milk consumption driven by a greater focus on nutritious, balanced drinks. Flavored milk products, particularly popular in public schools, have contributed to higher overall milk intake. Children, especially, prefer flavored milk over plain milk in these environments. Meanwhile, Canada's market has shown the most rapid growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the flavored milk market are Nestle S.A, Danone S.A., Arla Foods Amba, Associated Milk Producers, Inc, Bright Food International Co., Ltd, Dairy Farmers of America, Inc, Dean Foods Company, FrieslandCampina NV, Grupo Lala, S.A.B. de C.V, AMUL Industries Pvt Ltd, The Hershey Company, The Farmer's Cow, Meiji Holdings Co. Ltd, Hiland Dairy, Saputo Inc, a2 Milk Co, Others.
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Recent Developments
- In February 2022, A2 Milk Co., known for its premium milk products, and The Hershey Co., a leading American chocolate brand, introduced their new collaborative chocolate flavored milk. This natural chocolate milk offers a blend of nutrition and taste.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the flavored milk market based on the below-mentioned segments:
Global Flavored Milk Market, By Flavor
- Chocolate
- Fruit
- Vanilla
- Others
Global Flavored Milk Market, By Packaging
- Paper Based
- Plastic Based
- Glass Based
- Metal Based
Global Flavored Milk Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Global Flavored Milk Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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