The worldwide flavored milk market is supposed to arrive at a valuation of US$ 3,300 Million of every 2022. Generally speaking, deals of flavored milk are projected to develop at a strong CAGR of 6.4% somewhere in the range of 2022 and 2032, adding up to around US$ 6,119.3 Million toward the finish of 2032
Flavored milk is a dairy product manufactured by mixing milk, sugar or sweetener, coloring, and natural or artificial flavor. Flavored milk offers some essential nutrients like calcium, potassium, vitamins, phosphorus, and protein. Flavored milk is among the healthiest products from the food and beverage industry. Its health benefit is a boost for the market as consumers are moving towards healthy lifestyles. Also, the high shelf life and increase in demand for refrigerated milk products fuel the growth of the flavored milk market globally.
The global flavored milk industry is still on the rise as consumption is still low compared to other drinks like carbonated soft drinks, energy drinks and more.
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Flavored Milk Market Driven by Growing Demand for Lactose-Free Dairy Products
The flavored milk market is propelled by the rise in demand for lactose-free products globally. According to the research conducted by the United States National Library of Medicine, about 65% of the human population find it hard to digest lactose at adulthood. Inability to digest lactose at adulthood is common within West Africa, and East Africa and this factor is fueling the growth of flavored milk market within the region.
Consumers’ Rising Demand for Healthy Food Products
The growing demand for healthy food products among consumers is a driving force expected to move the global flavored milk market forward over the forecast period. Consumers are conscious about the quality of food they consume; hence they are moving towards the consumption of health befitting products with high nutritive value. Also, consumers’ changing lifestyles are expected to drive the growth of flavored milk globally.
Flavored milk is a rich source of calcium, protein, vitamins and many more. Furthermore, consumers’ changing lifestyle is another factor fostering the growth of the industry globally. Rise in disposable income is a boost for the flavored milk market. Developing nations like India and China with an emerging economy are raising the per capita income of individuals working. And this ix expected positively impact the global flavored milk market especially in the Asia Pacific region where these countries are located.
Flavored Milk Market Restraint
The global flavored milk market is not without its challenges. With the rise in vegan population globally, the flavored milk market is expected to witness a decline in growth over the forecast period. Furthermore, the growing incidences of lactose tolerance is a strong force pulling the market backward and might foster the closure in some regions.
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Flavored Milk Market: Region-wise Analysis
The Asia Pacific region is the largest market for flavored milk after topping the list for the region with the highest consumption of flavored milk. Rising disposable income and increasing population size are factors fueling the growth of the industry.
North America and Latin America is the second and third largest market for flavored milk. North America is expected to record a double-digit CAGR over the forecast period owing to the rise in consumption of flavored milk by kids. Other regions like Europe, Africa, and the Middle East are projected to witness a significant growth due to the steady rise in the demand for flavored milk.
Flavored Milk Market: Competitive Landscape
The global flavored milk market is highly competitive and fragmented, with a few global players like Nestlé S.A., Hershey’s, and Saputo Inc. These companies are focusing on adopting new strategies such as new product innovations, merging local players to extend their products to regions where the flavored milk market has no foothold. They are also offering low sugar and fat free varieties of flavored milk such as orange creme and strawberry creme so consumers can have a variety of choice to make. Other key players in the market include
- Yili Industrial Group Company Limited
- Mengniu Dairy Company Limited
- Gujarat Cooperative Milk Marketing Federation Limited
- Mother Dairy Fruit and Vegetable Private Limited.
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Global Flavored Milk Market Segment Analysis
The global flavored milk market can be segmented on the following basis:
By Type
- Dairy Based
- Plant Based
By Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Store
- Specialist Stores
- Online Retail Stores
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Milk Retentate Market Size : Growing demand for dairy products, increasing product penetration or adoption rate in developing countries, coupled with collaborating with local dairy farmers for producing high-quality milk products
Flavor and Flavor Enhancers Market Trends : The rise in demand for healthy food products has created a surge in the global flavor and flavor enhancers market. Consumers’ are conscious of the food products they consume.
Flavonoids Market Forecast : The global flavonoids market is expected to reach a valuation of US$ 1.2 Bn in 2022, with sales growing at a CAGR of 5.6% over the forecast period
Fortified Milk and Milk Products Market Growth : Furthermore, the rise in demand for fortified milk from the middle class and lower-middle-class population is expected to restrain the market from growing.
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The post Overall sales of Flavored Milk Market is projected to grow at a robust CAGR of 6.4%, totaling a revenue of US$ 6.1 Bn between forecast period of 2022-32 | Insights by FMI appeared first on Future Market Insights.
