India Flavoured Milk Market to be Driven by Rising Consumers' Growing Health Awareness and Disposable Income in the Forecast Period of 2021-2026

The demand for flavoured milk in India has risen in recent years as dairy companies have expanded their product portfolio. The market’s growth is also owing to the fact that urban customers are becoming more receptive to value-added dairy, owing to its versatility and health benefits.

India Flavoured Milk Market to be Driven by Rising Consumers' Growing Health Awareness and Disposable Income in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘India Flavoured Milk Market Report and Forecast 2021-2026’, gives an in-depth analysis of the India flavoured milk market, assessing the market based on its segments like applications, manufacturing process and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2016-2026)

  • Historical Market Size (2020): USD 1.4 billion
  • Forecast CAGR (2021-2026): 24%
  • Forecast Market Size (2026): USD 5.3 billion

The demand for flavoured milk in India has risen in recent years as dairy companies have expanded their product portfolio. The market’s growth is also owing to the fact that urban customers are becoming more receptive to value-added dairy, owing to its versatility and health benefits. Increased customer interest in wellbeing, combined with growing disposable income, are other factors driving demand. In addition, manufacturers have been releasing flavoured milk varieties with improved functional properties. Furthermore, to appeal to the growing diabetic and health-conscious public, they are selling low-sugar and fat-free variants of flavoured milk products. The fast supply of dairy goods as a result of new supermarket facilities and supply chain logistics is driving the growth of the market. During the Covid-19 pandemic, major retail shopping over the internet also aided market development.

Industry Definition and Major Segments

Flavoured milk is a sweetened dairy beverage made from milk, sugar, flavorings, and sometimes food colorings. It may be marketed as a pasteurized, refrigerated product or as a non-refrigerable ultra-high temperature (UHT) treated product. It can also be made at home or in restaurants by combining flavorings with milk. Sugar, colorings, and flavorings are all used in flavoured milk, whether it is dairy, soy, almond, or camel. These flavorings are available as a powder to blend with pure milk or pre-mixed with other milk ingredients. Flavoring may be added to a straw, and some flavoured milk drinks are intended to be nutritional supplements, with extra vitamins and minerals included.

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By flavour, the market is divided into:

Based on packaging, the industry can be segmented into:

Basis of distribution channel, the industry can be categorised into:

  • Supermarket and Hypermarket
  • Convenience Stores
  • Speciality Stores
  • Online
  • Others

By region, the industry is categorised into:

  • North India
  • South India
  • West India
  • East India

Market Trends

In India, flavoured milk is one of the most common dairy-based drinks. The market’s rapid growth can be due to customers’ growing health awareness, which has resulted in a move toward dairy-based products. Increased disposable incomes and an increased demographic are two other growth-inducing variables. Milk intake is increasing in developing countries because it is extremely nutritious and provides protein and calcium. The segment’s growth would be aided by increased internet penetration and better accessibility across the world. For example, GCMMF (Amul), headquartered in India, uses its smartphone application to distribute milk and other dairy goods.

Maharashtra currently has the highest market share, accounting for the majority of the market. Tamil Nadu and Uttar Pradesh come in second and last, respectively. The Indian flavoured milk market is bright, owing to the rising population, rising per capita intake, rising package food spending, rising brand popularity, urbanization and the rise of nuclear families, as well as government funding. The rise in demand for value-added milk goods, which is also margin accretive for the players, will be the primary driver of growth.

Key Market Players

The major players in the market are GCMMF, Mother Dairy, KMF, CavinKare, Heritage Foods Limited, Parag Milk Foods Ltd., Nestle S.A. and TN Cooperative., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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