Press release
Global Chocolate Malt Drink Market ($4.17 Bn by 2030) Growth Forecasts at 6.12% CAGR During (2023-2030) | Industry Size, Trends, Insights, Market Share, Competition, Opportunities | Introspective Market Research
The Chocolate Malt Drink Market size is expected to grow from USD 2.59 billion in 2022 to USD 4.17 billion by 2030, at a CAGR of 6.12 % during the forecast period.
Chocolate malt is a sweet variation of traditional malt powder, adding depth and flavor to various dishes. It can be used in different creative ways, such as making classic chocolate malts or incorporating them into homemade cookies for a unique taste experience. Unlike regular chocolate made from cocoa beans and sugar, chocolate malt is produced by roasting wheat, barley, and evaporated milk until they become sweet. This process gives it a rich, caramel-like flavor akin to dark chocolate. It is widely available at reasonable prices in major supermarkets. In terms of taste, chocolate malt resembles unsweetened cocoa powder, featuring notes of caramel, malt, and a slight bitterness.
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Market Dynamics:
Driver:
The Global Chocolate Malt Drink Market is driven by the increasing consumer desire for unique and indulgent beverages that provide a distinct flavor experience, setting them apart from traditional chocolate or malt-based drinks. The market is further fueled by the growing popularity of nostalgic and retro flavors, appealing particularly to younger consumers seeking a taste of classic milkshakes and soda fountain treats. Additionally, health-conscious consumers are drawn to chocolate malt drinks as a healthier alternative to regular chocolate beverages, thanks to their lower caffeine content. This caters to the preference for indulgent yet comparatively healthier beverage options in the market.
Opportunities:
Opportunities in the Global Chocolate Malt Drink Market lie in product innovation and diversification, enabling manufacturers to capitalize on the drink's popularity. By introducing innovative variations like flavored chocolate malt drinks, ready-to-drink formats, or incorporating chocolate malt flavor into other beverage categories, manufacturers can expand their market reach and consumer base. Effective marketing campaigns that highlight the unique flavors, nostalgic appeal, and health benefits of chocolate malt drinks can create awareness and drive consumer interest. Building strong brands that resonate with consumers helps differentiate products and foster loyalty.
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Moreover, the report includes significant chapters such as Patent Analysis, Regulatory Framework, Technology Roadmap, BCG Matrix, Heat Map Analysis, Price Trend Analysis, and Investment Analysis.
Segmentation Analysis of the Chocolate Malt Drink Market
The Chocolate Malt Drink market segments cover the Packaging Type, and Distribution Channel, By Packaging Type, and the Bottles and Jars segment is Anticipated to Dominate the Market Over the Forecast period.
• Chocolate Malt Drink mostly comes in packaged bottles and jars. They are easily available in online stores and retailers' shops. Chocolate malt drinks are highly nutritious and consumed on a daily basis. So, the most preferred packaging type of chocolate malt drink is in Bottles
By Packaging Type
• Bottles & Jars
• Cartons
• Others
By Distribution Channel
• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Assnalysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Regional Analysis of the Chocolate Malt Drink Market
Asia Pacific is Expected to Dominate the Market Over the Forecast Period.
• Asia Pacific is the dominating region in the world. The demand for the Chocolate malt drink is growing year by year. And will continue to grow in the future. Milo is one of the popular brands of malt drinks from Malaysia. The Milo brand is highly consumed among the people of Malaysia and South Asia. Milo brand has a 90% market share in Malaysia. The brand is mainly popular due to its chocolate-flavored drinks.
By Region
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
Key Industry Developments in the Chocolate Malt Drink Market
In February 2021, Nestlé launches the plant-based Milo chocolate malt drink in Thailand. Swiss food giant Nestlé is shaking up the beverage market in Thailand with a new soy-based version of chocolate malt beverage firm favorite, Milo.
In September 2022, Coca-Cola Beverages Africa launches the Choco Malt drink in Ghana. Voltic Ltd, Coca-Cola Beverages Africa's (CCBA) Ghana subsidiary, has launched Hollandia's Choco Malt brand in Ghana. The brand was first launched in Nigeria in 2017 by Coca-Cola subsidiary Chi Ltd.
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