USD 304.66 million
Packaged Milkshakes Market Size, Share, Growth Analysis, By Flavor(Chocolate, Vanilla, Strawberry, and Others), By Packaging Material(Glass, Tin, Paper, and Plastic), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2368 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
65
|Figures:
75
Packaged Milkshakes Market Insights
Global Packaged Milkshakes Market size was valued at USD 304.66 million in 2022 and is poised to grow from USD 323.85 million in 2023 to USD 527.98 million by 2031, at a CAGR of 6.30% during the forecast period (2024-2031).
Surging demand for ready-to-drink (RTD) beverages coupled with evolving consumer preferences are projected to be key factors driving global packaged milkshakes market growth. Flavored milk-based beverages that offer the classic taste of a milkshake in a pre-packed format are known as packaged milkshakes. From adults to children, people of all age groups enjoy a good milkshake and this is what packaged milkshake companies are trying to build their business on going forward.
High demand for convenience and adoption of fast-paced lifestyles giving rise to the ready-to-drink beverage trend is also estimated to boost sales of packaged milkshakes over the coming years. Wide availability of flavors such as chocolate, strawberry, and vanilla is improving the appeal of these products. The quick energy boost offered by milkshakes while being a satisfying tasty snack has promoted the popularity of packaged milkshakes.
Growing health consciousness is pushing packaged milkshake manufacturers to incorporate healthy and functional ingredients in their products. Low-fat, low-sugar, and high-protein milkshake options are gaining massive popularity among fitness-conscious people around the world. packaged milkshakes come in a wide variety of packaging formats such as single-serve bottles, cartons, and pouches, making it more accessible to consumers.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Chocolate
Fastest Growth
Chocolate
Growth Rate
6.30% CAGR
Global Packaged Milkshakes Market($ Bn)
Country Share for North America Region (%)
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Packaged Milkshakes Market Segmental Analysis
The global Packaged Milkshakes Market is segmented by Flavor, Packaging Material, and Regional. Based on Flavor, the market is segmented into Chocolate, Vanilla, Strawberry, and Others. Based on Packaging Material, the market is bifurcated into, Glass, Tin, Paper, and Plastic. In terms of region, the market is segmented into North America, Europe, Asia-Pacific, and Latin America.
Analysis By Flavor
Chocolate flavor is predicted to account for a major market share of the global packaged milkshakes market. The rich and indulgent taste of a chocolate milkshake is what attracts adults and kids alike, making it one of the most sought-after flavors in the world. Cocoa goodness and delicious creaminess are key attributes of a chocolate milkshake that make them as popular as they are. The high popularity of this flavor all over the world is what allows it to hold a high market share.
Vanilla flavor milkshakes are projected to emerge as the fastest-growing segment in the global packaged milkshakes market. The versatile nature of vanilla flavor is what makes it a classic flavor and additionally, it serves as the perfect base for the preparation of different flavor combinations. Increasing demand for customized flavor and innovative milkshakes is driving up the demand for vanilla flavor milkshakes around the world. Consumers who prefer simple, clean, and natural ingredients in their milkshakes also prefer vanilla, which drives its popularity. All of these aspects make vanilla a highly sought-after flavor in the global packaged milkshakes market.
Analysis By Packaging Material
Most packaged milkshakes come in plastic packaging as it has been an effective form of packaging for decades now. Affordability and versatility of plastic packaging are what have allowed it to hold a dominant share of the global packaged milkshakes marketplace. The lightweight and easily customizable nature of plastic packaging makes it perfect for branding and delivering the product in a very attractive manner to appeal to consumers. Plastic containers are usually safe to package and sell any kind of beverage and do not require much extra care during transportation as well.
Rising focus on sustainability and bans on the use of plastic has allowed paper packaging to become the fastest-growing segment in the packaged milkshakes market. Rising demand for sustainable packaging from consumers and increasing efforts of packaged milkshake brands to adopt sustainable practices are creating lucrative growth scope for this segment. The biodegradable nature of paper packaging is what is driving its popularity in the global food & beverage industry including packaged milkshakes as well. The imposition of stringent laws to curb the use of plastic is also slated to help growth in this segment.
Global Packaged Milkshakes Market By Flavor
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Packaged Milkshakes Market Regional Insights
North America accounts for the major share of the global packaged milkshakes market at present. High consumer spending potential coupled with the presence of a developed retail infrastructure makes this region a moneymaker for packaged milkshake companies. The presence of an established milkshake culture in the United States makes it the prime market in North America. The high availability of a wide variety of packaged milkshakes and high preference for classic milkshakes in this region are slated to bolster the packaged milkshakes market growth in the future.
The presence of an established dairy industry in Europe allows it to become the second-largest region in the global packaged milkshakes market. Rising consumer preference for convenient and ready-to-drink beverages and the high availability of dairy-based and dairy-free milkshake products are making this region an important one for packaged milkshake suppliers. The United Kingdom is predicted to be the top market in the European region. Demand for premium packaged milkshakes is estimated to increase at a rapid pace in this region owing to the changing living standards of consumers.
Global Packaged Milkshakes Market By Geography
- Largest
- Fastest
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Packaged Milkshakes Market Dynamics
Drivers
Convenience and On-the-Go Lifestyles
- Packaged milkshakes can be consumed anywhere and even on the go, which is very important in the modern fast-paced lifestyles that people are opting for. The ready-to-drink nature of packaged milkshakes is what is driving market growth.
Flavor Innovation
- Packaged milkshake manufacturers are continually developing and launching new flavor milkshakes to keep consumers hooked and keep the milkshake experience fresh for consumers who are looking for a change of taste.
Restraints
Sugar and Calorie Concerns
- Milkshakes are often high in calories and sugar, which is something most health-conscious consumers try to stay away from and this is what slows down packaged milkshake demand outlook.
Competition from Alternative Beverages
- There is a wide variety of beverage alternatives available for milkshakes such as coffees, smoothies, fruit juices, etc., and preference for these beverages might increase in the future and limit packaged milkshakes market growth.
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Packaged Milkshakes Market Competitive Landscape
The global packaged milkshakes market is highly competitive, with established players accounting for a major market share. Established companies are leveraging their brand recognition and loyalty to boost their sales and continually launching new products at competitive pricing. There are a lot of regional companies as well, but established companies are acquiring them or merging them with their own companies to eliminate competition and expand their market presence. Companies are continually focused on developing new flavors and adding new ingredients to their milkshakes to improve their revenue generation potential. Changing consumer preferences are pushing packaged milkshake manufacturers to incorporate healthy ingredients and plant-based ingredients in their products. Elimination of synthetic ingredients in milkshakes is a key trend that all companies will have to focus on going forward. Innovative marketing strategies and sustainable packaging are also key areas of focus for packaged milkshakes market players to enhance their global sales potential.
Top Player’s Company Profile
- Nestlé
- Mengniu Dairy
- Inner Mongolia Yili Industrial Group
- FrieslandCampina
- Müller Group
- The Hain Celestial Group
- Agropur Dairy Cooperative
- PepsiCo
- Dean Foods
- Lactalis Group
- Yili Group
- Fairlife, LLC
- The Coca-Cola Company
- Amul
- Chobani, LLC
- Dairy Farmers of America
- WhiteWave Foods Company
Recent Developments
- A new range of packaged milkshakes made with plant-based ingredients was launched in Europe by Unilever in May 2023. Chocolate, vanilla, and strawberry are some popular flavors that were launched in this product line.
- A new technology was developed by General Mills to extend the shield life of packaged milkshakes in June 2023. This technology will allow companies to keep their products safe for consumption for a longer period of time.
- Nestle, a multinational food and beverage provider based in Switzerland, launched a new milkshake flavor in the United Kingdom in May 2022. The Nesquik Choco-Caramel is a combination of caramel and chocolate flavors.
Packaged Milkshakes Key Market Trends
-
Health and Wellness: Surging demand for healthier beverage options made with reduced sugar, low-fat milk, and plant-based alternatives is also a trend to watch out for going forward. Incorporation of functional ingredients like protein, probiotics, and vitamins to attract health-conscious consumers is a strategy that many companies will opt for in the future.
-
Premiumization: Packaged milkshakes prepared with indulgent and exotic ingredients are gaining popularity around the world owing to their premium appeal. These premium milkshakes offer a more luxurious and indulgent experience for consumers and create new growth opportunities for companies.
Packaged Milkshakes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type’s team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, the rising popularity of ready-to-drink beverages and the adoption of fast-paced lifestyles are projected to be key factors driving packaged milkshakes market growth. Changing consumer preferences and the growing popularity of classic milkshakes among adults and children alike are also predicted to boost packaged milkshake demand outlook in the future. However, competition from alternative beverages and the inclination of consumers toward them are predicted to impede packaged milkshakes market growth in the future. High consumer spending potential and the presence of an established milkshake culture are factors that allow North America to account for a dominant global packaged milkshake sales share. Companies are continually focusing on launching products with new flavors to stay ahead of the competition and boost their sales potential. The incorporation of functional ingredients and exotic ingredients is a trend that could alter the packaged milkshakes market growth trajectory across the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 304.66 million |
| Market size value in 2031 | USD 527.98 million |
| Growth Rate | 6.30% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Packaged Milkshakes Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Packaged Milkshakes Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Packaged Milkshakes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Packaged Milkshakes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Packaged Milkshakes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Packaged Milkshakes Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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