Global Flavoured Milk Market to Grow at a CAGR of 8% During 2024-2032, Driven by the Introduction of Innovative Flavours

The global flavoured milk industry is being driven by the growing awareness about the various health benefits offered by the product. The market is further propelled by the rising demand for the product among children as flavoured milk not only has a good taste but it also fulfils the various nutritional requirements. This is the primary factor accelerating the demand for the product. The market is further aided by the rising disposable income and growing preference for dairy-based beverages among consumers over sweetened or carbonated drinks.

The shift towards heathy lifestyle is expected to further contribute to the market growth. The Asia Pacific is one of the most dominant regions in terms of market revenue. North America and Europe also account for a significant share in the market owing to the growing demand for dairy based products in the region and the growing consciousness about the nutritional benefits of flavoured milk over sweetened beverages.

The Hershey Company (NYSE: HSY), Nestlé SA (SWX: NESN), and Danone SA (EPA:BN) are some of the key players in the industry. The increasing R&D capabilities, new product launches, and aggressive marketing strategies adopted by these players to attract investments and expand their customer base are likely to aid the market in the forecast period.

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Market Breakup by Flavour, Packaging, Distribution Channel, and Region:

• On the basis of flavour, the market is segmented into chocolate, vanilla, fruits, and others.

• Based on packaging, the market is divided into paper-based, plastic-based, glass-based, metal-based, and others. 

• On the basis of distribution channel, the market is divided into supermarket and hypermarket, convenience stores, speciality stores, online, and others. 

• Region-wise, the global market for flavoured milk is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global flavoured milk industry is driven by the rising health awareness among consumers and the increasing disposable income.

• The growing popularity of flavoured milk, especially chocolate flavoured beverage, among children is further propelling the market growth.

• The market is being supported by the growing innovations and the launch of new flavours by the companies in the forecast period. 

• The growing investments in product marketing are expected to further boost the industry growth.

Key Offerings of the Report:

• The EMR report gives an overview of the flavoured milk industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the flavours, packaging, distribution channels, and major regions of flavoured milk.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global flavoured milk market are The Hershey Company Saputo Inc, Nestlé S.A, Danone SA, Arla Foods amba, Fonterra Co-orperative Group, Molkerei Alois Muller GmbH & Co. Kg, and Gujarat Cooperative Milk Marketing Federation Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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