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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 24%
The Indian market for flavoured milk market is being led by the changing consumer preference towards healthy and nutritional dairy products. Owing to the fast paced and busy lifestyles, many individuals have the tendency of skipping meals, which makes their body insufficient in essential nutrients. Thus, the growing preference towards flavoured milk as a convenient source having high nutritional value along with calcium, phosphorus, and vitamin A is a major factor shaping the growth of the market. The market is further projected to be augmented by the introduction of new and natural flavours in the upcoming years.
Industry Definition and Major Segments
Flavoured milk is defined as a milk-based beverage which is made with milk, sugar, food colourings, and artificial or natural flavourings. It is a sweetened dairy drink which is sold as pasteurised and refrigerated product.
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The product is available in the following flavours:
- Fruit Based
On the basis of distribution channel, the market can be bifurcated into:
Among these, the retail is likely to account for a significant share in the market.
The regional markets for India flavoured milk market include:
- Tamil Nadu
The technological advancements in the dairy sector, coupled with innovative and attractive packaging of the flavoured milk products, are likely to be a key trend in the market in the forecast period. The introduction of new innovative flavours is anticipated to be another key trend in the market. In addition, the Indian States, including Maharashtra, Karnataka, Delhi-NCR, among others, are likely to witness considerble growth in the market owing to the rising demand for the product from the retail sector and steady growth of e-commerce. Further, rising income levels and the surging demand for convenience and packaged products are factors adding to the growth of the overall market.
Key Market Players
The major players in the market are Mother Dairy Fruit and Vegetable Pvt. Ltd., Heritage Foods Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Parag Milk Foods Ltd., and Nestle S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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