Global Flavored Milk Market is witnessing an impressive growth over the last few years. This is attributed to the shifting consumer preferences among the population of both developed and developing economies. Also, increasing disposable income of the consumers is anticipated to be the significant reason for the growth of the flavored milk market during the forecast period. Additionally, key players in the global flavored milk market are emphasizing more on bringing up new flavors to extend the product line.
Flavored Milk is growing exponentially on account for the growing demand among the consumers for a variety of dairy beverages. Many key players in beverages market are investing in R&D to focus on product development which enriches the flavors in Flavored Milk. Moreover, flavored milk is gaining popularity across the globe, as the demand for healthy food & beverages has been increasing in recent years. These factors will support the flavored milk market, estimated to grow at the rate of about 4.3% from 2017 to 2024.
Also, the companies are inclined to increase their footprints across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies to penetrate the untapped market. However, high calorie and fat content in flavored milk may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 4.3% of flavored milk market during the forecast period, 2017-2024.
Major Key Players Analysis
Some of the key players profiled in the Global Flavored Milk Market Dairy Farmers of America, Inc. (U.S.), Nestle S.A. (Switzerland), Danone (France), Arla Foods Amba (Denmark), Associated Milk Producers, Inc. (U.S.), Bright Food (Group) Co., Ltd. (China), Dean Foods Company (U.S.), Koninklijke FrieslandCampina NV (the Netherlands), Grupo Lala, S.A.B. de C.V. (Mexico) and Amul Industries Pvt Ltd. (India)
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Flavored Milk Market is segmented into Asia Pacific, North America, Europe and rest of the world (RoW). Asia Pacific is dominating the global flavored milk market followed by North America. India and China being the highest milk producing countries are driving the growth of Asia Pacific market. Furthermore, emerging economies such as China, India, Japan, Australia, and the Latin American countries, offers ample opportunities for expansion to the major players.