Flavoured Milk Market Size Forecast Report 2024-2030

• Posted by Renub Research Oct 30 Filed in Arts & Culture #Flavoured Milk Market  11 views
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  Flavoured Milk Market Overview

  The Flavoured Milk Market is projected to reach approximately US$ 83.63 billion by 2030, according to Renub Research. This beverage is increasingly favored as consumers seek convenient yet nutritious alternatives. With rising health awareness, flavoured milk presents a tasty substitute for sugary drinks while offering vital nutrients such as calcium and protein. Its appeal spans across different age groups, attracting both children and adults who enjoy a variety of flavors. The ready-to-drink format fits seamlessly into busy lifestyles, making flavoured milk a preferred choice that reflects changing consumer preferences toward healthier and more exciting beverage options.

  Notable Developments by Key Players

  Danone SA

  • In July 2022, Danone introduced a new Dairy & Plants Blend baby formula designed to meet the nutritional needs of infants while catering to parents following vegetarian, flexitarian, and plant-based diets. This product draws on 50 years of breastmilk research and Danone's expertise in plant-based nutrition, featuring well-known brands like Alpro and Silk.
  • In 2021, Danone launched new plant-based milk options that boasted improved flavors and textures.

  Arla Foods

  • In July 2023, Arla Foods teamed up with Blue Ocean Closures to develop a fiber-based cap for milk cartons, aiming to reduce plastic use by over 500 tons per year.
  • In November 2021, Arla Foods Ingredients unveiled new technology for separating milk into its protein components, paving the way for numerous innovation opportunities.

  Saputo Inc.

  • In 2021, Saputo Inc. invested approximately CDN$ 187 million in strategic acquisitions within the dairy alternatives and value-added ingredients sectors.

  The Hershey Company

  • In March 2023, Hershey introduced Hershey's KISSES Milklicious, a new candy featuring a creamy chocolate milk filling inside the classic milk chocolate KISSES.
  • In February 2022, the a2 Milk Co. partnered with The Hershey Co. to launch co-branded chocolate milk, combining taste, nutrition, and broad appeal to boost premium milk sales.

  Nestlé S.A.

  • In November 2023, Nestlé launched a science-based growing-up milk solution with HMOs aimed at early-life nutrition in China.
  • In October 2023, Nestlé introduced Nido, an instant milk powder made from a blend of plant-based and dairy ingredients for the African market.

  Meiji Holdings Co. Ltd

  • In March 2024, Meiji released a new Foods with Function Claims (FFC) product designed to enhance eye accommodation and improve sleep quality.
  • The Meiji Eye and Sleep W Support milk drink contains 7.5mg of crocetin, a beneficial compound derived from gardenia fruit and saffron, aiding in eye and sleep issues.
  • Meiji's Tianjin plant began operations in January 2023, marking the company's second dairy production facility in China, with an investment of around USD 300 million. The facility features nine production lines for various dairy products catering to the Tianjin and North China markets.

  Market Growth Projections

  The global flavoured milk market is anticipated to grow at a CAGR of 7.18% from 2024 to 2030. The increasing demand for lactose-free products and convenient beverages significantly drives this growth. With lactose intolerance on the rise and consumers seeking healthier options, flavoured milk offers an appealing solution. Its combination of enticing flavors and lactose-free options appeals to a wider audience. Additionally, the incorporation of functional ingredients like vitamins, probiotics, and plant-based additives further enhances its status as a nutritious beverage, fueling market growth.

  The introduction of low-sugar and fat-free variants of flavoured milk products is likely to cater to a growing diabetic and health-conscious demographic during the forecast period. Compared to juices and sodas, flavoured milk provides superior muscle-building protein. For instance, chocolate milk's balanced blend of carbohydrates and protein makes it an ideal post-exercise recovery drink. These factors are expected to bolster demand for flavoured milk in India, driving market expansion throughout the forecast period.

  Emerging economies such as India and China, with their growing populations and increasing per capita income, are poised to positively impact the global flavoured milk market, particularly in the Asia-Pacific region. Manufacturers are focusing on innovative and attractive packaging solutions, particularly targeting younger consumers. The trend toward organic flavoured milk free from artificial ingredients further boosts demand. Consequently, the global flavoured milk market was valued at US$ 51.47 billion in 2023.

  Types of Flavoured Milk

  The flavoured milk market is segmented into Long-Life Flavored Milk, Fresh Flavored Milk, and Other Flavored Milk types. Long-life flavoured milk is expected to see substantial growth in the global market, driven by its convenience and extended shelf life. As consumers increasingly prefer products with longer storage capabilities while maintaining flavor and nutritional value, long-life flavoured milk meets these needs, making it suitable for home storage and on-the-go consumption. Innovations in packaging technology further ensure product integrity, contributing to the popularity of long-life flavoured milk.

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  Flavor Trends

  Among the various flavored types, chocolate milk is anticipated to remain a favorite in the flavoured milk market. Its classic appeal and widespread consumer preference stem from its rich, indulgent flavor, making it popular among both children and adults. The sweetness and familiarity of chocolate milk offer a comforting beverage choice. Moreover, its nutritional benefits, including calcium and protein, enhance its attractiveness as a go-to option in the global flavoured milk market.

  Powdered Milk Segment Growth

  In terms of application, the flavoured milk market is divided into Powder, Premix, Fresh, and Others. The powdered segment is expected to witness rapid growth due to its convenience, versatility, and extended shelf life. Powdered formulations offer easy storage, transportation, and preparation, appealing to customers seeking convenient beverage options. Additionally, powdered flavoured milk can be tailored to individual preferences by adjusting the powder concentration, catering to diverse tastes. Its longer shelf life makes it ideal for home stocking, contributing to the significant growth of the powdered flavoured milk segment.

  Packaging Insights

  The flavoured milk market is segmented by packaging type into Paper-Based, Plastic-Based, Glass-Based, Metal-Based, and Others. Paper-based packaging is one of the most widely used forms in the market, favored for its sustainability, versatility, and consumer appeal. With increasing environmental awareness, paper-based packaging aligns with the demand for eco-friendly alternatives. Its recyclability and biodegradability make it an environmentally conscious choice. Additionally, advancements in paper packaging technology ensure product freshness and integrity while providing attractive branding opportunities. As the focus on sustainable packaging solutions rises, paper-based options are becoming increasingly preferred in the flavoured milk market.

  Distribution Channels

  In terms of distribution channels, the global flavoured milk market is categorized into Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, and Others. Supermarkets and hypermarkets are popular choices among consumers, owing to their extensive product range, convenience, and accessibility. These retail giants offer a variety of flavoured milk brands and flavors under one roof, providing customers with numerous options to suit their preferences. Moreover, supermarkets and hypermarkets often feature promotional offers and discounts, making flavoured milk more affordable. Their widespread presence and convenient shopping experience keep them as the primary destinations for flavoured milk purchases.

  Regional Insights

  The Asia-Pacific region is expected to continue leading the flavoured milk market, driven by an increasing demand for healthier and more nutritious food options. As the largest milk producer globally, India is at the forefront of this trend, fostering innovation and flavor experimentation in flavoured milk. The region's efficient dairy production methods also support market growth. For instance, in 2022, India’s milk production rose from 209.9 million metric tons to over 221 million metric tons. Furthermore, manufacturers are addressing consumer demands for low or no-sugar and fat-free options.

  Key Players

  Prominent players in the global flavoured milk market include Danone SA, Arla Foods, Saputo Inc., The Hershey Company, Fonterra Co-operative Group, Nestlé S.A., Meiji Holdings Co. Ltd, and Amul Industries Pvt Ltd.

  In February 2022, the a2 Milk Co. and The Hershey Co. launched a co-branded chocolate-flavored milk featuring a blend of natural and premium milk, offering a product that emphasizes both taste and nutrition.

  Type – Global Flavoured Milk Market breakup in 3 viewpoints:

  1.    Long-Life Flavoured Milk

  2.    Fresh Flavoured Milk

  3.    Other Flavoured Milk

   

   

  Flavoured Type – Global Flavoured Milk Market breakup in 4 viewpoints:

  1.    Vanilla

  2.    Chocolate

  3.    Fruits

  4.    Others

   

   

  Application – Global Flavoured Milk Market breakup in 4 viewpoints:

  1.    Powder

  2.    Premix

  3.    Fresh

  4.    Others

   

   

  Packaging Type – Global Flavoured Milk Market breakup in 5 viewpoints:

   

  1.    Paper Based

  2.    Plastic Based

  3.    Glass Based

  4.    Metal Based

  5.    Others

   

   

  Distribution Channel – Global Flavoured Milk Market breakup in 4 viewpoints:

  1.    Supermarkets and Hypermarkets

  2.    Specialty Stores

  3.    Convenience Stores

  4.    Others

   

   

  Countries – Global Flavoured Milk Market breakup in 25 viewpoints:

  1.    North America

   

  1.1    United States

  1.2    Canada

   

  2.    Europe

   

  2.1    France

  2.2    Germany

  2.3    Italy

  2.4    Spain

  2.5    United Kingdom

  2.6    Belgium

  2.7    Netherland

  2.8    Turkey

   

  3.    Asia Pacific

   

  3.1    China

  3.2    Japan

  3.3    India

  3.4    South Korea

  3.5    Thailand

  3.6    Malaysia

  3.7    Indonesia

  3.8    Australia

  3.9    New Zealand

   

  4.    Latin America

   

  4.1    Brazil

  4.2    Mexico

  4.3    Argentina

   

  5.    Middle East & Africa

   

  5.1    Saudi Arabia

  5.2    UAE

  5.3    South Africa

   

   

  All the Key players have been covered from 3 Viewpoints:

  •    Overview

  •    Recent Development

  •    Revenue Analysis

   

   

  Company Analysis:

  1.    Danone SA.

  2.    Arla Foods

  3.    Saputo Inc.

  4.    The Hershey Company

  5.    Fonterra Co-operative Group

  6.    Nestle S.A.

  7.    Meiji Holdings Co. Ltd.

  8.    Amul Industries Pvt Ltd.

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