Flavoured Milk Market Size 2023, Demand, Emerging Trends, Business Challenges, Key Manufacturers, Opportunities and Forecast 2033: SPER Market Research
The global flavoured milk market refers to the market for a variety of milk-based drinks that are flavored with different ingredients, such as fruits, nuts, and spices. Flavoured milk is a healthier alternative to carbonated drinks and is popular among consumers of all ages. It is available in different packaging options, including bottles, tetra packs, and cartons, making it a convenient on-the-go option. The growing popularity of flavoured milk can be attributed to factors such as increasing health awareness, changing lifestyles, and rising disposable incomes of consumers. The market is highly competitive, with numerous players offering a wide range of products to meet the diverse preferences and demands of consumers. The significance of the global flavoured milk market lies in its ability to offer a healthier and convenient beverage option to consumers and its potential for growth in the coming years.
According to SPER market research, ‘Flavoured Milk Market Size- By Flavour, By Packaging, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Flavoured Milk Market is predicted to reach USD 128.77 billion by 2033 with a CAGR of 8.24%.
The growth of the global flavoured milk market is being propelled by a range of factors, including the increasing awareness of health and wellness among consumers, changing lifestyles that have led to a shift in consumer preferences towards healthier beverage options, the availability of different flavours and packaging options, and rising disposable incomes that have enabled consumers to spend more on premium products. Additionally, the convenience of ready-to-drink flavoured milk products has contributed to their popularity among consumers of all ages.
The global flavoured milk market faces challenges such as the need for sustainable packaging options and the fluctuating prices of raw materials like milk, sugar, and flavors. The demand for innovative and eco-friendly packaging is increasing as consumers become more aware of the environmental impact of plastic waste. Additionally, the fluctuating prices of raw materials can lead to increased costs, which can affect the profitability of manufacturers and impact the prices of flavoured milk products.
Impact of COVID-19 on Global Flavoured Milk Market
The COVID-19 pandemic has had both positive and negative effects on the global flavoured milk market. While the increased demand for packaged food and beverages due to lockdowns and social distancing measures has boosted the sales of flavoured milk products, supply chain disruptions, reduced milk production, and labour shortages have affected the availability and pricing of raw materials. Furthermore, the closure of schools and offices has resulted in a decline in the demand for flavoured milk products in these segments. The long-term impact of the pandemic on the flavoured milk market will depend on the duration of the pandemic and the pace of economic recovery.
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The Asia Pacific (APAC) region is a significant market for flavoured milk, driven by the increasing demand for healthy and functional beverages among consumers. Countries such as China, India, Japan, and Australia are major players in the APAC flavoured milk market. China is the largest market for flavoured milk in the region, with a significant share of the global market. In addition, some of the market key players are Arla Foods amba, Danone SA, Fonterra Co-Operative Group, Gujrat Cooperative Milk Marketing Federation Ltd.
Flavoured Milk Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Arla Foods amba, Danone SA, Fonterra Co-Operative Group, Gujrat Cooperative Milk Marketing Federation Ltd, Molkerei Alois Müller Gmbh & Co. Kg, Nestlé S.A., Saputo Inc, The Hershey Company, Others.
By Flavour: Based on Flavour, Global Flavoured Milk Market is segmented as; Chocolate, Fruits, Vanilla, Others.
By Packaging: Based on Packaging, Global Flavoured Milk Market is segmented as; Paper based, Glass based, Metal based, Others.
By Distribution Channel: Based on Distribution Channel, Global Flavoured Milk Market is segmented as; Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online, Others.
By Region: This report also provides the data for key regional segments of North America, Europe, Asia Specific, Middle East and Africa, South America, Others.
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