Chocolate Milk Market Reach To USD 11.76 Billion By 2028 Market's Growth Will Originate From North America, Increasing Consumer Disposable Income To Boost Growth - IMR

Market Overview:

The Global Chocolate Milk Market was valued at USD 8.52 Billion in 2021, and it is projected to reach USD 11.76 Billion by 2028, registering an estimated CAGR of 4.70% during 2021- 2028.

Chocolate milk is milk with sugar and cocoa flavoring. It is widely touted as a great method to recover after exercise and as a viable substitute for conventional cow's milk when attempting to increase children's calcium and vitamin D intake. Chocolate milk is typically made with cow's milk, cocoa, and sweeteners like sugar or high-fructose corn syrup. It provides comparable amounts of nutrients but more calories and carbs when compared to unsweetened milk. Chocolate milk also contains trace amounts of zinc, selenium, iodine, and magnesium in addition to vitamins A, B1, B6, and B12.

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Market Dynamics:
Driver:
Milk beverages are linked to the modern urban lifestyle, which motivates more consumers to have snacks outside the home and look for quick and wholesome alternatives. Additionally, the market for beverages purchased on the move is growing at a time when convenience and fortified dairy products are prized by customers and retailers. As a result, the demand for portable beverages is rising globally. Global market expansion is being fueled by consumers' growing awareness of chocolate milk's many beneficial attributes, including its high vitamin, calcium, and carbohydrate content this factor drives the market.

Opportunities:
The global milk chocolate market is expected to increase significantly over the next several years due to the high demand for chocolate-based confection in established economies and the rapidly expanding demand for indulgence items in developing countries like China, India, Korea, and others. Another significant factor that is anticipated to have a favorable impact on the milk chocolate industry over the coming years is the rising demand for premium milk chocolate due to consumers' growing willingness to purchase high-quality and sustainable chocolate products these are the opportunities for the market in the future.

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Segmentation Analysis Of Chocolate Milk Market

By Type, the Dairy-Based Chocolate Milk segment is estimated to dominate the chocolate milk market. The fastest-growing segment recorded is non-dairy-based chocolate milk.

By Distribution Channel, the Supermarkets/Hypermarkets Channel is projected to dominate the market growth of chocolate milk. Chocolate Milk is used in supermarkets to increase their sales.

By Type
• Dairy-Based Chocolate Milk
• Non-Dairy Based Chocolate Milk

By Distribution Channel
• Supermarket/ Hypermarkets
• Convenience Stores
• Other Distribution Channels

Regional Analysis Of Chocolate Milk Market
The Asia Pacific region is estimated to dominate the chocolate milk market in the projected years. The consumer demand for natural, convenient, nutritious, and healthy on-the-go snack options is the primary element for the rapid growth of chocolate milk across Asia-Pacific region. The changing lifestyle of consumers and inclination toward a healthy lifestyle are propelling the growth of the market. Dairy-based beverages are naturally high in calcium and protein content, and, thus, are perceived as a nutritional beverage option. Hence, chocolate milk, being the healthier and convenient preference, is witnessing rising demand in Asia Pacific region.

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By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Top Key Players Covered In Chocolate Milk Market
• Amul(India)
• Arla Foods (Denmark)
• Dairy Farmers of America Inc. (US)
• Dean Foods (Texas)
• Groupe Danone(France)
• Inner Mongolia Yili Industrial Group (China)
• Nestle SA (Switzerland)
• Royal FrieslandCampina (Netherlands)
• Saputo Inc (Canada)
• The Hershey Company (US)
• Maryland & Virginia Milk Producers Cooperative Association Inc. (US)
• The Coca-Cola Company (US)

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Key Industry Developments In The Chocolate Milk Market

In September 2020, Nestlé expanded its range of dairy alternatives with the launch of plant-based Nesquik drink in Europe. The new ready-to-drink beverage was launched first in Spain, Portugal, and Hungary and then in other European countries. It consists of oats and peas with sustainably sourced cocoa, and it is lower in sugar than regular milk-based Nesquik.

In July 2019, FrieslandCampina launched Chocomel, a Dutch brand of chocolate-flavored milk, into the United Kingdom in a single-serving 'to-go 250ml can.

Report includes Competitor's Landscape:
• Major trends and growth projections by region and country
• Key winning strategies followed by the competitors
• Who are the key competitors in this industry?
• What shall be the potential of this industry over the forecast tenure?
• What are the factors propelling the demand for the Action Figures And Statues?
• What are the opportunities that shall aid in significant proliferation of the market growth?
• What are the regional and country wise regulations that shall either hamper or boost the demand for Action Figures And Statues?
• How has the covid-19 impacted the growth of the market?
• Has the supply chain disruption caused changes in the entire value chain?

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