increasing consumer disposable income is driving the Chocolate Milk Market
Technavio analyzes that the Chocolate Milk Market is expected to grow at a CAGR of 3.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1025.1 million.There are various factors that contribute to the growth of the market. The chocolate milk market is experiencing significant growth due to the increasing disposable income of consumers. This trend is particularly noticeable in developed countries, where consumers are seeking indulgent and convenient beverage options. Chocolate milk, with its rich and creamy texture, is an attractive choice for those looking to treat themselves or satisfy their sweet tooth. Additionally, the convenience of ready-to-drink chocolate milk and the nutritional benefits it provides, such as calcium and protein, make it a popular choice among consumers of all ages. The market is expected to continue growing as consumers' disposable income increases and their preferences shift towards indulgent and convenient beverage options.
In developed markets such as the US, Canada, the UK, France, and Germany, retail outlets, specifically supermarkets and hypermarkets, dominate the chocolate milk market landscape. These channels offer numerous advantages, including expansive shelf space and storage capabilities, which accommodate a multitude of chocolate milk brands from leading vendors like Arla Foods amba, Dairy Farmers of America Inc., Muller UK and Ireland Group LLP, Saputo Inc., and Sofina SA. Consumers value the convenience of one-stop shopping for various product categories and brands, a benefit that smaller retailers cannot match. Furthermore, the increasing popularity of non-dairy, vegan, plant-based, fortified, sugar-reduced, and protein-rich chocolate milk options caters to diverse consumer preferences and dietary requirements. Organized retail's widespread presence in urban areas is driving sales growth in the chocolate milk market.
Know which region is leading the market growth by requesting a sample report
Chocolate Milk Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
Find out what is trending in the market by accessing the free PDF report
The Chocolate Milk Market encompasses various flavored dairy products, including Chocolate Milk, fortified with essential nutrients like Calcium and Vitamin D from Cow's Milk and Cocoa. Sweeteners are added for taste, but high sugar content raises concerns for health issues such as Obesity and Diabetes. Organic, Sugar-Free, and Fortified versions cater to health-conscious consumers. Attractive packaging makes these Portable Beverages a quick meal option, especially in Urban areas. Non-dairy alternatives like Plant-Based Milk cater to Vegan trends, Lactose-Intolerant individuals, and those seeking Sugar Reduction. Protein-rich and Nutrient-dense, Chocolate Milk offers Nutritional Benefits, making it a popular choice for Post-Exercise Recovery. Flavored Milk Products provide essential Proteins, Vitamins, and Minerals, acting as Nutritional Supplements.
The chocolate milk market falls under the broader category of the packaged foods and meats industry, which encompasses food processing businesses that ensure food safety and prolong product shelf life. According to Technavio, the market size is determined by the consolidated revenue of participating vendors. This sector excludes food equipment manufacturers and producers of packaged alcoholic and non-alcoholic beverages, like chocolate milk's counterparts, mineral waters. The market expansion will be influenced by the health benefits linked to the consumption of nutrient-dense, minimally processed foods, such as chocolate milk fortified with calcium, vitamin D, and cocoa. However, concerns over high sugar content in chocolate milk may pose challenges due to the rising health issues, including obesity and diabetes. Organic chocolate milk, a niche segment, caters to health-conscious consumers seeking a more natural alternative.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
