Traditional Grocery Retailers will Remain Dominant in the Global Flavored Milk Market

Posted on 2019-03-26 by Mark Hub in Food & Beverage, Industrial // 0 Comments

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Rockville, USA, 2019-Mar-26 — /EPR Network/ —The market is estimated to register a low single-digit CAGR through 2022. The global flavored milk market is at its nascent stage. Consumption of flavored milk is observed to be relatively lower than other drinks.

By 2020-end, the global market for flavored milk is projected to exceed US$ 50,000 Mn in revenues. The market is estimated to register a low single-digit CAGR through 2022. The global flavored milk market is at its nascent stage. Consumption of flavored milk is observed to be relatively lower than other drinks. However, the market will gain an uptick in the near future on the back of health benefits associated with flavored milk.

recent trend being witnessed around the world is the surge in vegan population. The vegan diet is being adopted by consumers as an ethical concern regarding animals. People with vegan diet oppose consumption of food items derived from animals including dairy products, eggs, and leather among others. Consumption of milk witnessed a decline of about 25% in Canada, owing to the hike in vegan population in 2015. This factor is expected to substantially impact growth of the global market for flavored milk.

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Traditional Grocery Retailers will Remain Dominant in the Global Flavored Milk Market

On the basis of sales channel, although traditional grocery retailers are estimated to remain dominant in the global flavored milk market, sales of flavored milk in modern grocery retail segment will continue to register the highest CAGR through 2022. Non-grocery retailers are expected to be the second largest sales channel for flavored milk by 2022-end.

Tin and can packaging will remain preferred among consumers in the global flavored milk market, with sales poised to reach nearly US$ 20,000 Mn in revenues by 2022-end. Tin and can packaging is estimated to account for over one-third share of the flavored milk market during 2017 to 2022. PET bottles will remain the second most lucrative packaging in the flavored milk market. Sales of flavored milk packed in cartons are expected to register a comparatively higher CAGR than those packed in PET bottles through 2022.

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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.

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.

Competition Tracking

Key players operating in the global flavored milk market are Danone, Nestlé S.A., Fonterra Co-operative Group Limited, China Mengniu Dairy Company Limited, Dairy Farmers of America, Inc., Koninklijke Friesland Campina N.V., Dean Foods Company, Morinaga Milk Industry Co., Ltd., Gujarat Cooperative Milk Marketing Federation Ltd., National Dairy Development Board, Inner Mongolia Yili Industrial Group Co., Ltd., and Grupo Lala, S.A.B. de C.V.

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