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Chocolate Milk Market - Growth, Trends, and Forecast (2019 - 2024)

Chocolate Milk Market Segmented by Distribution Channel as Supermarket/ Hypermarkets, Convenience Stores, Other Distribution Channels; Geography

Market Snapshot

Global Chocolate Milk Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Middle East and Africa

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The consumer demand for convenient, natural, nutritious, and healthy on-the-go snack options is the primary attribute for the sales of chocolate milk, across the world. The changing lifestyle of consumers and inclination toward a healthy lifestyle is boosting the growth of the market. Hence, chocolate milk, being the healthier and nutritional option, is witnessing increasing demand. Dairy-based beverages are naturally high in calcium content, and hence, are perceived as a nutritional beverage option. The health benefits of probiotic drinks, especially their ability to improve digestion and immune system, are attracting consumers across all age groups. The chocolate milk market is expected to witness a CAGR of 3.6% during the forecast period (2019 - 2024).

Scope of the Report

The scope of the chocolate milk market is segmented by distribution channel as convenience stores, hypermarkets/supermarkets, and other distribution channels. Other distribution channels include discounters, whole sale retailers, online retail stores, etc.

Distribution Channel
Supermarket/ Hypermarkets
Convenience Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Spain
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Colombia
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Surge in Demand for Fortified Beverages in Developing Countries

There has been a considerable shift in the lifestyles and diet habits of people over the past two decades. Consumers are becoming aware of these problems and, as a result, are gradually moving toward functional food and beverage, which are promoted as being beneficial beyond basic nutrition. Promotion of fortified foods and beverages by China’s Ministry of Health, coupled with growing health concerns related to age, myopia in adults, and other diseases, is expected to drive the market. The key chocolate milk producers launched fortified chocolate milk drinks to maintain a strong position in the competitive market. In Brazil, the presence of local players, such as Laticínios Latco Ltda., is catering to the market growth by offering chocolate milk. The fortification of these flavored milk products is done with omega-3, omega-6, vitamin C, and vitamin E, using liposomes, is expected to drive the chocolate milk market.

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Middle East and Africa Remain the Fastest Growing Markets

The chocolate milk market is facing stiff competition from the protein shakes and non-dairy drinks market, globally. Constant marketing efforts from the dairy industry have led to adults and athletes opting for chocolate milk who have previously dismissed chocolate milk as a drink for children. Factors expected to drive the demand are increasing consumer disposable income and increase in consumer awareness regarding health benefits of the flavored dairy products, such as chocolate milk, in South Africa. The increasing number of new product launches across the country is one of the key drivers in the market. Key market players across the country are increasingly focusing on increasing the number of product launches, which is likely to strengthen their position in the market. The most popular flavors under the flavored milk category in Saudi Arabia are banana, chocolate, and strawberry. These flavors are popular among the younger generation, and manufacturers are launching specific flavored milk marketed toward children.

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Competitive Landscape

The chocolate milk market is fragmented and comprises regional/local players, as well as international competitors. The market is dominated by players, like Arla Foods, Danone, and Nestle SA. The leading players in the chocolate milk market enjoy a dominant presence, worldwide. These players focus on leveraging opportunities posed by emerging markets to expand their product portfolio, so that they can cater to the requirements for milk, especially during breakfast and as a healthy drinking snacking habit. Moreover, these companies adopted innovation and partnerships as their key strategies to increase their geographical presence and customer base. For instance:

  • In January 2017, Nestle altered the sugar level and revamped its  chocolate drink. This is a market strategy to fulfill the consumer's demand for low-sugar chocolate drinks.

Major Players

  1. Nestle SA
  2. Arla Foods AMBA
  3. Dean Foods
  4. Dairy Maid Dairy
  5. Saputo Inc.

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five-Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers and Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Distribution Channel

      1. 5.1.1 Supermarket/ Hypermarkets

      2. 5.1.2 Convenience Stores

      3. 5.1.3 Other Distribution Channels

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Mexico

        4. 5.2.1.4 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Spain

        5. 5.2.2.5 Italy

        6. 5.2.2.6 Russia

        7. 5.2.2.7 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Australia

        5. 5.2.3.5 Rest of Asia-Pacific

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Colombia

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 South Africa

        2. 5.2.5.2 Saudi Arabia

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategies Adopted

    2. 6.2 Most Active Analysis

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Nestle SA

      2. 6.4.2 Arla Foods

      3. 6.4.3 Dean Foods

      4. 6.4.4 Dairy Farmers of America Inc.

      5. 6.4.5 Saputo Inc.

      6. 6.4.6 Royal FrieslandCampina

      7. 6.4.7 Amul

      8. 6.4.8 Maryland & Virginia Milk Producers Cooperative Association Inc.

      9. 6.4.9 Inner Mongolia Yili Industrial Group Co.

      10. 6.4.10 Groupe Danone

      11. 6.4.11 The Hershey Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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