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