Press release
Flavored Milk Market is projected to witness lucrative growth by reaching up to US$ 89.5 billion by 2030
Flavored Milk Market - DataM Intelligence
The Global Flavored Milk Market US$ 57.6 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 89.5 billion by 2030. The market is growing at a CAGR of 5.6% during the forecast period 2023-2030.
The growth of the flavored milk market is significantly driven by the increasing demand for functional beverages. As consumers seek convenient and nutritious beverage options, flavored milk is positioned as a favorable choice. It is perceived as a healthier alternative to carbonated soft drinks and other sugary beverages, contributing to its popularity in the market.
Another key factor fueling the growth of the flavored milk market is the expansion of product offerings and flavors. Manufacturers have been diversifying their portfolios by introducing a wide variety of milk flavors to cater to diverse consumer preferences. Flavored milk options include popular choices such as chocolate, strawberry, vanilla, and more. This variety not only enhances consumer choices but also attracts a broader customer base, further contributing to the overall growth of the flavored milk market.
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Market Dynamics
The growth of the flavored milk market is being propelled by the rising demand for functional beverages. Consumers are increasingly seeking beverages that not only offer taste satisfaction but also provide additional health benefits. The global functional beverage market, valued at $120 billion in 2022 according to The Food Institute, underscores the significance of this trend.
Flavored milk products are well-positioned in this market as they are often enriched with various functional ingredients, including vitamins, minerals, probiotics, omega-3 fatty acids, antioxidants, and more. These added components offer specific health benefits such as improved digestion, immune support, or enhanced energy levels, making flavored milk an attractive choice for health-conscious consumers. The desire for beverages that provide functional benefits beyond basic nutrition is a key driver fueling the demand for flavored milk fortified with additional nutrients and functional ingredients.
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Market Segmentation
By Flavors
Vanilla
Chocolate
Strawberry
Others
By Packaging
Paper-Based Packaging*
Plastic Packaging
Glass Packaging
Metal Packaging
By Distribution Channel
Supermarket/Hypermarket
Convenience Stores
Online Sales
Market Key Players
Major players are Danone SA, Amul Industries Pvt. Ltd., Associated Milk Producers, Inc, Dean Foods Company, Arla Foods Amba, Saputo Inc., The Hershey Company, Nestle S.A, Dairy Farmers of America, Inc., and Hiland Dairy.
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