The packaged milkshakes market is projected to increase at a 6.3% CAGR to reach $596.58 million by 2033 from $323.84 million in 2023. Demands for quick, nutrient-rich solutions from health-conscious consumers and busy lifestyles are driving this expansion.
With a projected valuation of US$ 323.84 million in 2023, the packaged milkshakes market is expected to grow at a compound annual growth rate (CAGR) of 6.3%. By 2033, there will be a $596.58 million global market.
The market is primarily being driven by consumers’ busy lives and growing health concerns. Because of the mobility of packaged milkshakes and their incorporation of proteins, vitamins, and other trace elements, demand is anticipated to rise during the estimated time.
In a delectable fusion of flavor and health, the packaged milkshakes market is set to witness remarkable growth, projected to achieve a staggering valuation of $596.58 million by 2033, with a robust compound annual growth rate (CAGR) of 6.3%. The driving force behind this expansion lies in the rising demands from health-conscious consumers and the need for quick, nutrient-rich solutions in today’s fast-paced lifestyles.
Key Trends and Bottlenecks Shaping the Future of Packaged Milkshakes Market:
1. Accelerated Use of Tetra Packs: The market is witnessing a positive impact on growth due to the accelerated use of Tetra Packs for milkshakes, transforming the landscape of milk transportation and packaging. Tetra Packs, in collaboration with key players like Amul and Karnataka Milk Federation, are making fresh milk more accessible, reducing food waste, and promoting energy-efficient transportation.
2. Milkshake Innovations: The introduction of innovative and diverse milkshake varieties is propelling market growth. Brands like Amul are enhancing their beverage portfolios with new lines of shakes featuring flavors like banana, mango, strawberry, and almond. These cutting-edge product introductions are expected to drive market expansion between 2023 and 2033.
3. Market Challenges: Despite the growth potential, the packaged milkshakes market faces challenges, including inadequate infrastructure, operational hurdles, and concerns about profitability. Certain consumer segments, particularly in specific regions, still prefer unpackaged milkshakes from local sellers, posing obstacles to the market’s expansion.
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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 industry 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:
1. Flavor Popularity: Chocolate-flavored milkshakes dominate the market, accounting for 39.2% of total sales, showcasing a strong consumer preference for this classic taste.
2. Packaging Material Dynamics: Paper emerges as the dominant packaging material, contributing to 37.2% of global revenue during the forecast period, emphasizing sustainability and consumer preference.
3. Regional Market Share: Asia Pacific secures a significant market share of 32.0% in the packaged milkshakes industry between 2023 and 2033, reflecting the region’s growing demand and consumption patterns.
4. Projected Market Size in India: By 2023, the Indian market is expected to reach $16.68 billion, recording a remarkable CAGR of 12.9%. Anticipated to be worth $56.12 billion by 2033, India showcases substantial growth potential in the packaged milkshakes sector.
Competitive Landscape:
Leading participants in the packaged milkshakes market include The Hershey Company, CavinKare, Mother Dairy Fruits & Vegetables, Britannia, Friesland Campina, Danone, Nestle, GCMMF, Dean Foods, and Muller UK & Ireland. The market features medium to low entry barriers due to the presence of local merchants in the unorganized sector and the availability of unpackaged milkshakes.
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Key Segments
By Flavor:
- Chocolate
- Vanilla
- Strawberry
- Others
By Packaging Material:
- Glass
- Tin
- Paper
- Plastic
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- Central and South America
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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