Global Flavored Milk Market - Growth, Trends, and Forecast (2018 - 2023)

Market Insights

The global flavored milk market was valued at around 48 billion USD in 2015 and is expected to grow at a CAGR of more than 4.4% during the forecast period of 2018-2023. China Mengniu Dairy, one of the key vendors in the global flavored milk market, produces an estimated 8.68 million tons, annually.

Market Dynamics

Unscheduled eating habits, due to busy lifestyles, increases the demand for convenience foods, which is a key driver of the flavored milk market. The rising health consciousness of consumers also helps the growth of this market, as flavored milk contains many nutrients like calcium, potassium, and magnesium. Urbanization is another major driver of this market, as the increasing per capita income, along with changing consumer preferences, boosts the demand for flavored milk. However, substitutes like soft drinks and plant protein drinks pose a major threat to the market. Innovation helps the fight against the substitutes market, hence, vendors are introducing new flavors to attract customers.

Market Segmentation

The global flavored milk market has been segmented by packaging, distribution and geography. By packaging, the market is segmented into carton,pet bottles and others. On the basis of distribution channel, sale of flavoured milk is made through hypermarket/supermarket, convenience stores, online channel, specialist retailer and others.

Regional Analysis

The global flavored milk market has been geographically segmented into North America, Europe, South America, Africa and Asia-Pacific. The Asia-Pacific region leads the global flavored milk market with more than 60% share, regarding revenue, followed by North America. The market is expected to grow further in Asia-Pacific, due to high milk production in the region. Urbanization and an increase in the population also support the growth of this market. China takes the largest market share, regarding revenue, followed by the U.S and India. However, the market is expected to grow at a steady pace in South America and parts of Asia.

Competitive Environment

Flavored milk is the worlds second most popular liquid dairy product, after white milk. Vendors compete for innovation, pricing, and distribution. To remain competitive in the market, vendors are investing heavily in research and development. Product innovation, regarding new variants of flavors and attractive packaging, helps to capture consumer interest leading to higher consumption.


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