Flavoured Milk Market Size, Share, Opportunities, And Trends By Type (Dairy-Based, Plant-Based) By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Stores, Online Retail Stores, Other Distribution Channels), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061615375
- Pages : 140
Flavoured milk is a category of sweetened dairy beverage made from milk, sugar, taste profiles, and sometimes food colouring. It can be offered as a pasteurised, refrigerated product or as an ultra-high-temperature treated product that does not need to be refrigerated. It can also be produced at home, and in restaurants by combining flavourings with milk or be available as a pre-packed product seen on grocery aisles. Manufacturers in the global flavoured milk market offer new and creative products to cater to the growing demand for innovative flavours as customer preferences shift. This includes creating flavours that are popular in the region, giving fruit-flavoured variations to appeal to younger customers, and presenting flavoured milk with increased functional features. The market for flavoured milk is categorised into various segments, including the type of flavoured milk, distribution channels and geographical regions.
Individuals are seeking to augment their diets with immune-boosting nutrients and enhance their gastrointestinal health by including fortified dairy products and alternatives with functional claims. Simultaneously, customers are increasingly drawn to functional items positioned to help them relax, sleep better, and boost their mood to cope with persistent uncertainty, worry, and anxiety. Consumers are increasingly demanding functional flavoured milk as a result. Moreover, rising health consciousness has led companies to launch low-sugar or sugar-free alternatives in the flavoured milk category. For instance, in April 2023, Wisconsin-based dairy company DARI LLC announces the debut of their new brand, MOO'VTM, an ultra-filtered, lactose-free whole milk beverage available in three delectable flavours. MOO'VTM is a high protein, low sugar beverage for kids.
Flavoured milk companies have continued to introduce new beverages targeted at Millennials demographic group. Millennials are always seeking novel and intriguing flavours as well as sustainable ones since they are passionate about environmental concerns and enjoy diversity.
However, the increasing prevalence of lactose intolerant cases and high and volatile prices of raw materials obstruct the growth of the global market for flavoured milk during the projection period.
During the anticipation period, the growing demand for new innovative and explosive flavour profiles will support the growth of the global flavoured milk market.
Sweet flavours are losing their monopoly over flavoured milk products. Fast-moving vendors are increasingly going outside the box to create bright and punchy solutions that will appeal to millennials worldwide. The creamy texture of milkfat allows producers to experiment with spicy, acidic, herbal, and other unusual tastes. Millennials also demand ethnic-inspired flavour profiles in flavoured milk. Such items not only satisfy their taste senses but also provide them with the opportunity to learn about another culture. Tres Leches, shortcakes, figs, pear, pandan and Thai chilli are increasingly being used in flavoured milk as Asian, Mediterranean, and Latin American flavours combine well with dairy. For instance, in September 2022, Indian FMCG brand Godrej launched an RTD-flavoured milk called “Nutty Badam” replicating the famous ethnic Indian drink called Badam Doodh.
In recent years, plant-based milk products have flourished in the market exponentially. Plant-based flavoured milk products face fresh competition as they continue to develop new flavours and ingredients. Animal-free dairy milk, created from whey proteins generated by cellular agriculture, is also available in stores across the world. This type of milk is lactose-free and cholesterol-free. The growing number of vegan and vegetarian populations is one of the primary fact driving the growth of plant-based flavoured milk. In 2022, the Dutch dairy brand Chocomel owned by FrieslandCampina launched the vegan version of its hugely popular chocolate milk in the United Kingdom.
During the forecast period, Asia Pacific is anticipated to hold a significant share of the global flavoured milk market.
Asia Pacific region is anticipated to hold a significant market share in flavoured milk. This region will experience rapid expansion throughout the projection period due to growing demand for new and innovative flavour profiles for milk products. Flavoured milk is in high demand in markets such as India, South Korea and China. This region's market is also expanding as a result of the growing millennial population. This region's market is expanding due to reasons such as changing eating habits and rising demand for healthy beverages. In addition, the prevalence of key market players such as Amul, Nestle, Danone and others also spurs the growth of flavoured milk in this region. The region is also experiencing various launched from niche brands with speciality products and giving tough competition to bigger well-established brands. Prime markets in the Asia Pacific region are India, Japan, South Korea, China, Indonesia, Taiwan and Thailand.
Market Key Developments
- In April 2023, Breaka, a Lactalis-owned flavoured milk brand, collaborated with Perfetti Van Melle's Chupa Chups to offer a pair of limited-edition candy-flavoured milk. Breaka Chupa Chups Strawberry & Cream flavour milk is inspired by the tastes of Chupa Chups' two best-selling lollipops, while Breaka Chupa Chups Choco & Vanilla flavoured milk offers a creamy chocolate and caramelised vanilla taste.
- In April 2023, Brownes Dairy introduced a new line of flavoured milk that emphasise the advantages of dairy by utilising fresh full cream milk, natural flavours, and no added sugar. With no artificial colours or preservatives and only the natural sugar in milk. The Vanilla and Chocolate Natural Flavoured Milk will first be offered in a 250ml bottle for on-the-go and a 1-litre carton for at-home use.
- In April 2023, Bega Group introduced lactose-free versions of its Dare, Big M, and Dairy Farmers Classic lines. Lactose-free versions of Dare's best-selling double espresso and lactose-free chocolate-flavoured milk from Dairy Farmers Classic and Big M are now available to consumers.
- By Type
- By Distribution Channel
- Convenience Stores
- Specialist Stores
- Online Retail Stores
- Other Distribution Channels
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL FLAVORED MILK MARKET, BY TYPE
5.3. Plant Based
6. GLOBAL FLAVORED MILK MARKET, BY DISTRIBUTION CHANNEL
6.3. Convenience Stores
6.4. Specialist Stores
6.5. Online Retail Stores
6.6. Other Distribution Channels
7. GLOBAL FLAVORED MILK MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Nestle S.A
9.2. The Hershey Company
9.3. The Farmer's Cow
9.5. Dean Food Company
9.6. Fairlife, LLC
9.7. Saputo Inc
9.8. Agropur Dairy Cooperative
9.9. Mondelz International
9.10. The Kraft Heinz Company
The Hershey Company
The Farmer's Cow
Dean Food Company
Agropur Dairy Cooperative
The Kraft Heinz Company
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