According to the Market Statsville Group (MSG), the global milk-based beverage market size is expected to grow at a CAGR of 19.4% from 2022 to 2030. A beverage is a nourishing, enjoyable liquid that can be alcoholic or non-alcoholic. The season influences the sort of beverage drank. Most dairy beverages are non-alcoholic, while some fermented beverages may contain trace amounts of alcohol or carbon dioxide. Whole milk and byproducts such as skim milk, buttermilk, and whey are commonly used in milk drinks.

The primary drivers driving market expansion are increased consumer interest in health and rising disposable income. Furthermore, increased consumer awareness of the nutritional advantages of healthy ready-to-drink milk-based drinks would drive the milk-based beverages market. Milk-based beverages provide a variety of critical elements such as protein, calcium, vitamin A, potassium, and other important nutrients for human growth and development. Furthermore, the increasingly busy lifestyles of the working population and increased health-consciousness among customers drive the growth of the milk-based beverages market during the forecast period.

COVID-19 Impact on the Global Milk Based Beverage Market

COVID-19 has caused some disruption in the dairy industry. The application of lockdown in most nations, requiring closure and limits on functioning industries, stores, and other businesses, has created a supply and demand deficit. Despite these disruptions, demand for dairy products has grown for various reasons, including an increasing interest in home baking, which has resulted in increased demand for dairy products such as milk, butter, and cream.

Global Milk Based Beverage Market Dynamics

Drivers: Consumer Interest in The Health Benefits of Dairy Consumption is Growing

In the near future, the global milk beverages market is predicted to increase at a stable rate. The milk drinks industry is driven by rising consumer awareness of the health advantages of dairy intake. Milk beverage includes less cholesterol and saturated fat, as well as additional nutritional components such as calcium, magnesium, antioxidants, Omega 3, fiber, protein, phytosterol, and so on, making it more healthful and nutritious than other beverages. The health advantages of probiotic beverages, which aid digestion and immune system enhancement, entice customers of all ages. Furthermore, rising medical costs are compelling people to take preventative steps and preserve excellent health.

Restraints: Availability of Alternatives

The availability of alternatives such as non-dairy beverages limits the growth of the milk beverages market. Milk and non-milk-based supplements, such as capsules, protein bars, chocolates, health supplement powders, and so on, are becoming increasingly popular among young millennials.

Scope of the Global Milk Based Beverage Market

The study categorizes the milk based beverage market based on type, product type, and application at regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2030)

• Neutral Milk Drink
• Sour Milk Drink

By Product Type Outlook (Sales, USD Million, 2017-2030)

• Flavoured Milk Beverages
  • Chocolate
  • Strawberry
  • Vanilla
  • Mango
  • Others
• Fermented Milk Beverage
  • Lassi
  • Chach
  • Others

By Application Outlook (Sales, USD Million, 2017-2030)

• Third-party Online Shopping Platform
• Fresh E-commerce
• Hypermarkets and Supermarkets
• Specialty Stores
• Restaurant
• Convenience Stores
• Others

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Flavoured milk segment accounts for the largest market share by product type

Based on the product type, the global milk based beverage market has been categorized into flavored milk beverages and flavored milk beverages. Flavoured milk segment captured a significant market share due to increased demand for flavored milk and the availability of a diverse range of flavored milk beverages such as chocolate, mango, vanilla, and others. Furthermore, the younger generation's shift from unhealthy carbonated beverages will increase the demand for milk-based beverages.

Key Market Players in the Global Milk Based Beverage Market

The global milk based beverage market is highly competitive, with key industry players adopting strategies such as partnerships, acquisitions, product development, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.

Major players in the global milk based beverage market are:

• Blue Diamond Gmilk Beverages Inc
• Earth's Own Food Company Inc
• Eden Foods Inc
• Living Harvest Foods Inc
• Anand Milk Producers Union Limited
• South East Bottling & Beverage
• Krafts Foods group Inc
• Functional Beverage Co
• Arla Foods

Key Issues Addressed

• What is the market size by various segmentation of the milk based beverage by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the milk based beverage market?
• What are the key opportunities and trends for manufacturers involved in the milk based beverage supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of milk based beverage in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.