The packaged milkshakes market was valued at US$ 323.84 million in 2023, and it is likely to expand at a CAGR of 6.3% over the forecast time. A global market worth US$ 596.58 million is poised to exist by 2033.
Customers who are becoming more worried about their health and their hectic schedules are the main market drivers. As packaged milkshakes are portable and contain proteins, vitamins, and other trace elements, it is expected that demand may increase during the projected period.
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Packaged Milkshakes Market in the Future: Key Trends and Bottlenecks
Accelerated Use of Tetra Packs for Milkshakes to Positively Impact Market Growth
Asia Pacific is a leading producer and consumer of milk. Unfortunately, milk availability varies considerably. Tetra Pak is transforming the landscape in collaboration with groups like Amul and the Karnataka Milk Federation. Milk cooperatives and private dairies can transport fresh milk from farmers to homes because of innovative, affordable, and small Tetra Pak pack forms.
Tetra Packs are smaller and need less energy to send. Food waste is reduced because the contents remain longer. During the anticipated period, the packaged milkshakes market is expected to develop due to the expanding use of tetra packs for milkshake packaging.
Milkshake Innovations to Push Up Demand for Packaged Milkshakes
The packaged milkshake market is expanding as a result of the creation of new, inventive milkshake varieties. To strengthen its position in the beverage sector, a new line of shakes in four flavors was introduced.
- Aimed at young people, Amul Kool Milk Shake is a combination of milk and fruits (banana, mango, and strawberry), whereas Amul Kool Milk Shake Badam contains nuts. Tetra packs and cans were used to package the four kinds.
The market is expected to increase between 2023 and 2033 as a result of these types of cutting-edge product introductions.
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Inadequacy of Infrastructure, Hurdles in Conducting Business, and Profitability Concerns Challenges Currently Facing Market Growth
Despite the packaging industry’s preference, several factors are preventing the sector from growing. The market is being constrained by a lack of suitable infrastructure and operational challenges. To have a more individualized experience, certain classes of customers in certain regions prefer unpackaged milkshakes from local sellers, possibly merely in glasses.
Such consumer groups may be discouraged from choosing bottled milkshakes due to misconceptions about packaging. The packaged milkshake market is experiencing growing challenges as a result of these problems.
Key Takeaways
- In a packaged milkshake, the chocolate flavor is one of the most popular tastes, and during the projection period, sales of this flavor accounted for 39.2% of total sales.
- Paper dominated the market in terms of packaging material, accounting for 37.2% of global revenue during the forecast period.
- Between 2023 and 2033, Asia Pacific had a 32.0% packaged milkshakes market share.
- The Middle East and Africa are anticipated to record a CAGR of 7.2% throughout the projection period.
- By 2023, the market in India is predicted to reach US$ 16.68 billion, recording a CAGR of 12.9%. By 2033, it is anticipated that the Indian market is likely to be worth US$ 56.12 billion.
Competitive Landscape
The Hershey Company, CavinKare, Mother Dairy Fruits & Vegetables, Britannia, Friesland Campina, Danone, Nestle, GCMMF, Dean Foods, The Hershey Company, Muller UK & Ireland, and Mother Dairy Fruits & Vegetables are a few of the key market participants in the sector.
Due to the local merchants’ presence in the unorganized market and unpackaged milkshakes, the market has medium to low entry barriers. The packaged milkshakes market is further fueled by novel flavor combinations and packaging innovations.
Recent Development
- Mother Dairy launched the brand ROCKET to the cutting-edge ice cream industry.
In July 2020, Mother Dairy debuted the brand ROCKET, joining the cutting-edge Ice Cream – Chocolate category with two revolutionary flavors: Belgian Chocolate and French Vanilla.
Neila, a brand mascot that represents Mother Dairy’s preferred color Blue, was also developed by the company! With the introduction of ROCKET Ice Cream – Chocolate, Mother Dairy continues to prioritize innovation and customer service.
- CavinKare introduced cleaning goods under its personal care brands.
Beginning in March 2020, CavinKare introduced sanitizing goods at Re 1. The company has adopted its decision across all new SKUs, including 10 ML, 50 ML, 90 ML, 400 ML, 800 ML, and a 5-liter pack, and it is well within the government’s recently established pricing guideline.
The business has launched hand sanitizers under the personal care brands Chik and Nyle, as well as its professional brand Raaga.
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