The flavored milk market is projected to grow at a CAGR of 7% from 2023 to 2033. The market will be worth US$ 42 Billion in 2023 and is expected to reach US$ 82 Billion by the end of 2033. Rising preference for canned milk due to the increasing demand for high quality and durable packaging solutions is one of the key factors propelling the growth in the market.

Growing demand for health foods is likely to be the driving force for the expansion of the global flavor milk market during the forecast period. Customers are aware of the quality of the food they consume. Flavor milk is a rich source of calcium, protein, and vitamins. Therefore, they are moving towards consuming nutritious health-promoting products.

To extend shelf life and preserve the flavor of flavored milk, leading dairy companies are opting for products with silver-based micro particles with antibacterial and self-sterilizing properties. Hence, manufacturers are developing flavored milk that is adhering to the demand and requirements.

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Further, rising shift from unhealthy beverage options such as sodas and juices to flavour-enhanced milks due to rising health concerns is another factor accelerating the sales in the market. Demand for flavored milks containing fortified micronutrients is a key aspect to the revenue growth of the flavor milks market.

In addition to this, as consumption of ready-to-drink beverages and on-the-go dairy products is surging, key players are developing a wide variety of unique flavored milk to capitalize on this trend. Moreover, with veganism gaining traction across the globe, the demand for plant-based flavor is skyrocketing, especially in countries such as India, U.S., and U.K.

Key Takeaways:

Demand for flavored milk is expected to rise at an impressive rate in Asia Pacific as individuals choose healthier and more nutritious food alternatives.
The U.S. is expected to witness robust growth as consumption of vegan flavored milk is surging.
South Korea flavored milk market is expected to grow strongly due to an expanding retail sector and increasing demand for ready-to-drink products.
In terms of type, the chocolate flavor segment is expected to account for significant share, followed by coffee.
Based on packaging, the tins & cans segment is currently dominating the market.
With increasing eco-consciousness, the glass and PET bottles segment are expected to gain traction over the coming decade.

Growth Drivers:

Growing awareness about dairy nutrition products is increasing the consumption of ready-to-drink beverages, propelling growth.
Penetration of online platforms is expected to bolster the availability of flavored beverages, fueling the sales in the market.

Competitive Landscape:

Flavor milk vendors are improving their product portfolios by introducing new flavors to attract consumers. They are also focusing on attractive packaging to surge awareness of their products and to adhere to the clean label trends.
Some of the leading players are collaborating with leading packaging brands and end users to gain revenue. They are also adopting a plethora of digital marketing strategies to create their brand awareness and establish their position in the industry.

For instance,

In July 2022, leading flavored milk company, Parle Agro, unveiled its new flavoured milk, Hazelnut Chocolate and also launched a campaign for the new offering targeting consumers across India.

Key Companies Profiled by Fact.MR

Dean Foods
Danone SA
Hiland Dairy
Saputo Inc.
The Hershey Company
The Coca-Cola Company
The Farmer’s Cow
BSA SA
Saputo Inc.
Grupo Lala
Meiji Holdings Co. Ltd

More Valuable Insights on Flavored Milk Market

In its latest research, Fact.MR reveals significant factors estimated to boost the growth of the flavored milk market over the forecast period. The study also offers an in-depth study of the opportunities and growth drivers expected to propel sales of flavored milk through segmentation as follows:

Flavor:
Chocolate
Coffee
Rose
Vanilla
Strawberry
Others

Packaging:
Cartons
Glass Bottles
PET Bottles
Tins & Cans

Sales Channel:
Supermarkets/Hypermarkets
Convenience Stores
Specialist Stores
Online Retail Stores

Region:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Questions Covered in the Flavor Milk Market Report

What will be the demand outlook for the flavored milk market during the forecast period?
Which are the challenges faced in the flavored milk market?
Which region will lead the growth in the flavored milk market during 2023-2033?
What is the projected market valuation of the flavored milk market in 2033?
Which are the factors driving the flavored milk market during 2023-2033?
Which sales channel will generate maximum revenue in flavored milk market?

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