Flavored Milk market is expected to reach 40.14 billion USD by 2024 according to Planet Market Reports

Market Overview

After white milk, flavored milk is the second most accepted liquid dairy product in the world. Unlike white milk, flavored milk has additional flavor and sweetener to enhance the taste. In 2014, the American Academy of Pediatric Dentistry AAPD , suggests that flavoured milk is rich in nutrients such as calcium, potassium, and magnesium and is good for oral health of children. This has increased the consumption of flavored milk among children and flavored milk is also a part of school meal plans majorly in countries such as the U.S. and India. However, global flavored milk market is in its embryonic stage due to large consumption of carbonated drinks around the world. Moreover, increasing vegan population can affect the growth of flavored milk market. In 2011, as per the study performed by People for the Ethical Treatment of Animals PETA population, nearly 2.5% of world population is vegan. In 2015, due to rise in vegan population, milk consumption is decreased by 25.0% in Canada.

Key vendors of flavored milk are diversifying their product portfolio by launching products with new flavors with a key strategy to attract new customers. For instance, in 2015, Lewis Road Creamery launched its new coffee and vanilla flavored milk. In the same year, Natrel a Canadian dairy co-operative introduced new flavors maple, caramel latte, and dark chocolate, for its flavored milk. Moreover, in 2014, a Swiss transnational food and drink company Nestlé launched thin mint and caramel coconut as its new limited edition flavors to its Girl Scout flavored milk products. Introduction of such new flavors is likely to increase market competitiveness and is expected to bring new business opportunities for flavored milk market players in upcoming years.

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Market Segmentation

The global flavored milk market is categorized on the following basis:

Based on Flavours

Chocolate
Vanilla
Butterscotch
Strawberry
Others Coffee, Hazelnut

Based on Packaging

Paper-based cartons Packaging
Plastic Packaging
Glass Packaging
Metal Packaging

Based on Distribution Channel

Online Channel
Offline Channel

Based on Geography

North America U.S. & Canada {Market Size USD Billion , Growth Analysis % and Consumption Liters }
Latin America Brazil , Mexico & Rest of Latin America {Market Size USD Billion , Growth Analysis % and Consumption Liters }
Europe The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE {Market Size USD Billion , Growth Analysis % and Consumption Liters }
Asia-Pacific China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia {Market Size USD Billion , Growth Analysis % and Consumption Liters }
Middle East & Africa GCC, South Africa, North Africa, RoMEA {Market Size USD Billion , Growth Analysis % and Consumption Liters }
Rest of World {Market Size USD Billion , Growth Analysis % and Consumption Liters }

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Market Size and Forecast 2016-2024

In 2015, nearly 20 billion liters of flavoured milk were produced and is expected to increase due to its high nutritional value and acceptance in developing countries. Global Flavored Milk market valued USD 29.33 billion in 2016 and expected to account USD 40.14 billion. Further, the market is anticipated to register a CAGR of 4.0% over the forecast period i.e. 2016-2024.

Geographically, Asia-Pacific region dominated global flavored milk market in 2015 with a market share of 60.2% across the globe and is expected to maintain its dominance during the forecast period as well. Rising population, rapid urbanization and high milk production in the region is likely to accelerate the demand for flavored milk in Asia-Pacific region. Around one-fourth of the flavored milk produced globally is consumed in China followed by India, Indonesia, Japan and Malaysia. Asia-Pacific flavored milk market is projected to grow at a CAGR of 5.0% over the forecast period of 2016-2024.

On the other hand, Europe and North America region are expected to witness remarkable growth in flavored milk market. Europe and North America together generated 30.0% revenue share in global flavored milk market in 2016.

Latin America and Middle East & Africa region are the fastest growing regions in flavored milk market, owing to the growing willingness to spend on dairy products in order to have a healthy lifestyle. However, drought in South Africa and late rainfall in many African regions in 2015 results in the shortage of milk which is declined the production of flavored milk in 2016.

Market Drivers and Challenges

Introduction of innovative product, attractive packaging and new variety of flavors is gaining consumer’s interest and increasing the consumption of flavoured milk across the globe. Changing lifestyle and growing preference towards nutritious and healthy food is boosting demand for flavoured milk. Moreover, consumer’s busy schedule and irregular eating habits are encouraging the demand for flavoured milk across the world. These are the major key factors which are driving the global flavoured milk market.

However, high adoption of carbonated drinks and plant protein drinks is a major restraining factor for the global flavoured milk market. Decline in the production of milk due to natural calamities is also one of the key factors which hinder the production of flavoured milk. Removal of milk quotas is affecting the profit margins of farmers as they have to minimize the cost per kilogram of milk which is likely to affect the revenue of flavoured milk.

Key Market Players

Amul
Danone
China Mengniu Dairy
Nestlé S.A.
Dairy Farmers of America
Yili Group
Kraft Foods Group
Inner Mongolia Yili Industrial Group
Gujarat Cooperative Milk Marketing Federation GCMMF
Arla Foods
Bright Food
Dairy Farmers of America
Dean Foods
FrieslandCampina
Grupo Lala
Land O’ Lakes
Morinaga Milk Industry
Muller

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Scope Background

Market Synopsis
Market Segmentation

Global Flavored Milk Market is segmented as follows:

By Flavor Type Market Size, Demand Analysis and Growth Analysis
By Packaging Type Market Size, Demand Analysis and Growth Analysis
By Distribution Channel Type Market Size, Demand Analysis and Growth Analysis

By Regions

North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
Asia-Pacific China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

Risk Factors
Regional Variations
Recent Trends and Developments
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

Customization of this Report can be done as per client’s requirement.

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