According to Goldstein Research, “Rising urbanization and growing trend of healthy diet is increasing the consumer’s interest towards ready-to-drink products.” Flavored milk is a best substitute which provides health benefits with appealing taste. Flavored milk is mainly popular among children and teenagers and the demand is growing mainly in developing countries such as China, India, Indonesia and Brazil.
The global flavoured milk market is segmented based on flavors, by packaging and by distribution channel. Distribution channel is further bifurcated into online and offline channel. Offline channel occupies largest revenue share of flavored milk market as maximum revenue is generated from supermarkets, hypermarkets and retail stores and the segment is expected to dominate during the forecast period. However, increasing internet penetration and ease of selecting products without going to any retail stores is likely to propel the online channel market share during the forecast period.
Based on packaging, paper based or cartons accounted for the largest market share of global flavored milk. Cartons packaging accounted for 65.0% market share of flavored milk packaging and are expected to reach over 80.0% during the forecast period.
Asia-Pacific is the largest region for flavored milk market in 2015 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific flavored milk market valued USD 16.92 billion in 2016 and is estimated to reach USD 25.3 billion by 2024. China is expected to dominate the flavored milk market followed by India due to large milk production in these countries. Rising personal disposable income and readiness to spend on healthy diet is accelerating Asia-Pacific flavored milk market.
Impactful Packaging is Gaining Consumer’s Interest
Good packaging increases the shelf life of flavored milk whereas attractive packaging increases the visibility and gain consumer’s interest into the product. Top manufacturers of flavored milk are spending in the innovative packaging of the products. In 2013, UAE based dairy, Al Ain Dairy, launched an innovative packaging composed of around 60% renewable sources for flavored milk aiming to protect environment as well as to provide fresh products to consumers. Similarly, Fonterra Co-operative Group Limited introduced triple-layered milk bottles for its milk products which will keep the milk fresh for longer period of time. These innovative packaging of flavored milk is likely to gain traction and is expected to expand the flavored milk business globally.
“Global Flavored Milk Market Outlook 2024” contains detailed overview of the global flavored milk market in terms of market segmentation by flavors type, by packaging type and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global Flavored Milk Market Report also includes provides competitive outlook of some of the major players which includes profiling of companies Danone , Amul, China Mengniu Dairy Company Limited, Kraft Foods Group, Nestlé S.A., etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global flavored milk market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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