Flavored Milk Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022
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However, positive consumer perceptions regarding various health benefits associated with consumption of flavored milk are impacting its demand across the globe. Vendors of flavored milk are concentrating on expansion of their product portfolio by adopting key strategies such as introduction of new flavors in order to gain consumer interests. For instance – Lewis Road Creamery launched coffee & vanilla flavored milk in 2015, and Prairie Dairy Farms introduced two new flavored milk in March 2016. A good packaging results into longer shelf-life of products, while serving as a platform for marketing the products. Flavored milk producers are shifting their focus towards attractive packaging for increasing the visibility of their product, and leveraging consumer curiosity to attract their attention. Fonterra, a flavored milk producer, introduced triple layered bottles for packaging of its flavored milk. The inside and outside layers are opaque, and the middle layer is coated with black color for blocking radiations of light, which in turn enhances the shelf-life of flavored milk.
6 Key Estimations for the Global Flavored Milk Market
Chocolate flavored milk will remain sought-after among consumers in the market, with sales poised to surpass revenues worth US$ 10,000 Mn by 2022-end.
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Tin & can packaging will remain preferred for flavored milk in the global market. Sales of tin & can packaged flavored milk are anticipated to account for nearly US$ 20,000 Mn revenues by 2022-end.
During 2017 to 2022, Europe will remain dominant in the global market for flavored milk, and will account for more than one-fourth market share in terms of revenues.
Flavored milk sales are expected to register the highest CAGR in Asia Pacific excluding Japan (APEJ) through 2022.
Based on sales channel, traditional grocery retailers will remain dominant in the global market for flavored milk, with sales projected to register the fastest expansion through 2022.
Key market players mentioned in Fact.MR’s report are Inner Mongolia Yili Industrial Group Co., Ltd., Danone, National Dairy Development Board, Nestlé S.A., Gujarat Cooperative Milk Marketing Federation Ltd., Fonterra Co-operative Group Limited, Morinaga Milk Industry Co., Ltd., China Mengniu Dairy Company Limited, Koninklijke Friesland Campina N.V., Dairy Farmers of America, Inc., Dean Foods Company, and Grupo Lala, S.A.B. de C.V.
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