With the gradual shift of Indian consumers towards milk derivatives namely flavored milk, low fat yoghurt, and buttermilk owing to the health benefits, the flavored milk industry is boosting the share of ‘ready–to-drink’ category while turning flavoured milk as an alternate to other beverages, along with indulgent eating and drinking experience.
According to our latest research study “India Flavoured Milk Market Outlook 2022”, young generation and travelers are the target consumers of the industry. Further, new entrants and existing players in the industry continue to capturing existing and untapped market share through their product offerings. Further, increasing government initiatives to develop and enhance dairy products, the flavored milk segment is anticipated to grow at a CAGR of around 21% during 2014-2022.
The industry is witnessing expansion as the companies continue to experiment right flavours, portion sizing and formulation, to make flavoured milk meet huge range of health, nutritional and lifestyle needs. While the leading players still compete, new entrants and launches of various other flavors are successfully addressing the taste of the targeted consumer leading to popularity of the product amongst teenagers at large.
Domestic players are actively participating in the market competition, and are investing in research and development for creation of new flavors to stay profitable in future. The flavored milk industry would continue to grow with increasing base for the customers while leaving positive impact on the flavored milk industry of the country.
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