Flavoured milk is ready to drink produced from milk by adding sweetener, flavour, and even stabilizers. Indeed, flavoured milk products often have a higher shelf life than plain milk products due to reliance on high-temperature pasteurization. In the global market, the tastes and flavours are aiding the expansion of the flavoured milk market. Consequently, the flavoured milk market also purveys to augmented demand for refrigerated milk products. Consumers around the world have evolved peculiar tastes, which are essential for market players to cater through. According to Renub Research, the Global Flavoured Milk Market is projected to reach US$ 50.41 Billion by 2027.
Nutrient-rich flavoured milk comes in various flavours that offer the same unique nutrient package of nine essential nutrients like Calcium, Potassium, Phosphorus, Protein, Vitamins A, D and B12, Riboflavin and Niacin present in unflavoured milk. By flavours the global flavoured milk comes in flavours such as chocolate, fruit, and vanilla. Flavoured milk is the most popular milk choice, a highly palatable, nourishing beverage that can help meet prevailing daily dairy food and calcium intake recommendations, particularly for children. Further, the new developments in flavours and packaging are trending in the global flavoured milk market, with companies introducing locally preferred flavours. Remarkably, there is a preference for fruit flavours among youngsters.
Advancement in Packaging Techniques has helped the Dairy Companies to make more Profit on the Flavoured Milk Products
In addition, the rising consumption of flavoured milk and changing lifestyles has challenged the global industry to develop deeper into more innovative packaging solutions. Packaging that is durable, cost-effective, and recyclable exert less energy and water and emit more negligible greenhouse gases. The advancement in packaging techniques has helped the dairy companies extend the shelf life of the flavoured milk products and facilitate their transport to the global market. Based on packaging, the flavoured milk market in our report is segmented as paper-based packaging, plastic-based packaging, glass bottles, and metal cans.
In recent years, the boom in the global retail sector has triggered the way milk is packaged. Plastic packaging offers cascading benefits to the value chain in the form of extended food life without needing refrigeration and reduced transportation emissions. Also, using plastic packaging instead of cartons is further helping to cut down environmental costs to nearly four times less than conventional alternatives. As per our analysis, The Global Flavoured Milk Industry will likely grow at a CAGR of 5.54% from 2020-2027.
COVID-19 Impact Flavoured Milk Market Size
The COVID-19 pandemic outbreak has created a situation of uncertainty in the market growth of many industries globally. The pandemic outbreak has affected factors and has changed the complete dynamics of the market in ways that are hard to believe. As fact to be believed, as per our analysis market will recover during the forecast period.
Based on Distribution Channels
The market is segmented as convenience stores, supermarkets/ hypermarkets, and online retail stores. Flavoured Milk distribution channels present globally outline the overall game plan for finding clients and customers for the industry. The numerous strategy incorporated by the distribution channels works in co-ordination with the 5 Ps of marketing (place, price, product, promotion and people) to develop the tactics and actions that will achieve the global distribution objectives. Our research suggests that Worldwide Flavoured Milk Market Size was valued US$ 34.56 Billion in 2020.
Regional Analysis: Asia-Pacific is emerging as a big market for Flavoured Milk
The global flavoured milk market report revolves around key regions, including North America, Europe, Asia-Pacific, South America and Middle East & Africa. The regional markets are witnessing high levels of milk consumption, and flavoured products have gained a prominent position globally due to their prevalence in public schools, particularly in the North American region. Additionally, the Asia Pacific region market is witnessing a growing demand for flavoured milk products because of the rising disposable incomes in the area. The Asia-Pacific region also presents a significant opportunity for global players. Due to the lack of long-established innovations in the region, there is substantial scope for introducing new variants of flavoured milk.
Companies Launching Low-Sugar and Fat-Free Varieties of Flavoured Milk Products to garner the Diabetic and Health-Conscious Customers
Furthermore, the global flavoured milk market is fragmented with a few global players such as Nestlé S.A., Danone SA, Arla Foods Amba, Saputo Inc., Hershey's and Fonterra Co-operative Group. The key players are observed to be launching flavoured milk varieties with enhanced functional properties. Moreover, the key players also offer low-sugar and fat-free varieties of flavoured milk products to penetrate the increased diabetic and health-conscious population. Companies are introducing on-the-go flavoured milk to increase their offerings and customer base, acknowledging the opportunity posed by busier lifestyles and the necessity for convenience.
Renub Research latest report “Flavoured Milk Market, Global Forecast By Type (Long-Life Flavoured Milk, Fresh Flavoured Milk and Other), Flavour (Chocolate, Fruit, Vanilla and Others), Application (Powder, Premix, Fresh and Others), Packing Type (Paper Based, Plastic Based, Glass Based, Metal Based and Others), Distribution Channel (Hypermarkets/Supermarket, Convenience Stores, Online and Others), Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa), Key Players (Danone SA, Arla Foods Amba, Saputo Inc., Hershey's and Fonterra Cooperative Group)” provides a detailed analysis of Global Flavoured Milk Industry.
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