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Global Chocolate Milk Market Segmented by Type into Dairy-Based and Non-Dairy Based Chocolate Milk; By Distribution Channel as Supermarket/ Hypermarkets, Convenience Stores, Other Distribution Channels; & Geography
Fastest Growing Market:
Middle East and Africa
Chocolate Milk Market is projected to reach USD 9.31 billion by 2024, registering a CAGR of 3.6% during the forecast period (2019 - 2024)
The chocolate milk market is studied for two prominent types of chocolate milk, which includes non-dairy-based chocolate milk and dairy-based chocolate milk across the globe 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, wholesale retailers, online retail stores, etc. Also, the market is studied for different countries under the respective region to give a broader perspective.
|Dairy Based Chocolate Milk|
|Non-Dairy Based Chocolate Milk|
|Other Distribution Channels|
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For consumers who do not want to choose between health, wellness, taste, and ease, flavored milk is an increasingly accepted alternative to other beverages, like carbonated drinks, preservative infused juices, energy drinks, and others, as it is rich in proteins and vitamins. It serves as a healthy and tasty option, as it comes in innovative flavors, not only for kids and teenagers but also for the older generations who do not like the taste of plain milk and suffer from calcium deficiency. In order to widen their consumer base, companies are bringing about innovation in flavored milk by the increased focus on flavors, indulgence, and packaging renovations, which appeal to adults. Further, with the implementation of increased taxes and government regulations on sugary drinks to prevent diseases, flavored milk is becoming the new favorite of beverage producers, as it is exempted from this category, owing to its greater nutritional value. Brands that can successfully lower the sugar-level in flavored milk, without compromising on the drink’s nutritional and taste properties, are expected to be embraced by all age groups.
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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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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:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five-Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Dairy Based Chocolate Milk
5.1.2 Non-Dairy Based Chocolate Milk
5.2 Distribution Channel
5.2.1 Supermarket/ Hypermarkets
5.2.2 Convenience Stores
5.2.3 Other Distribution Channels
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 Rest of Europe
5.3.3 Asia Pacific
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Saudi Arabia
126.96.36.199 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Key Strategies Adopted
6.2 Most Active Analysis
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Nestle SA
6.4.2 Arla Foods
6.4.3 Dean Foods
6.4.4 Dairy Farmers of America Inc.
6.4.5 Saputo Inc.
6.4.6 Royal FrieslandCampina
6.4.8 Maryland & Virginia Milk Producers Cooperative Association Inc.
6.4.9 Inner Mongolia Yili Industrial Group Co.
6.4.10 Groupe Danone
6.4.11 The Hershey Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability