Flavored milk refers to a sweetened dairy drink that has a longer shelf life than conventional milk products. It consists of milk, sugar, sweeteners, preservatives, food colorings, and numerous artificial or natural flavors, such as mango, vanilla, chocolate, coffee and butterscotch. It is widely available as a pasteurized, refrigerated product or ultra-high-temperature (UHT) treated flavored variant. It is rich in essential nutrients, including niacin, calcium, potassium, phosphorous, protein, riboflavin and vitamins A, D and B12. It is convenient to use and characterized by an appealing taste due to which it is gaining widespread popularity, especially among children.
The market is primarily driven by the growing health-consciousness among consumers. The numerous health benefits offered by the regular consumption of flavored milk and the limited concentration of sugar present in it have facilitated its uptake. Multiple variants with low-calorie sweeteners are also available in the market, which are gaining widespread preference among consumers. Apart from this, the rising trend of on-the-go lifestyle led by individuals, supported by inflating disposable incomes and shifting lifestyle preferences, has led to an increase in the consumption of ready-to-drink beverages. Growing awareness regarding the importance of maintaining a healthy diet among the consumers has led them to substitute high-calorie and carbonated soft drinks with organic flavored milk variants, which, in turn, is creating a positive outlook for the market. The introduction of lactose-free flavored milk in the market is acting as another major growth-inducing factor. This, along with advancements in production technology and the increasing demand for refrigerated milk products, is expected to drive the market further.
Looking forward, IMARC Group expects the market to reach a value of US$ 69.7 Billion by 2026, exhibiting moderate growth during the forecast period (2021-2026).