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

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).

The 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 sales potential. 'Nestlé', 'Mengniu Dairy', 'Arla Foods', 'Inner Mongolia Yili Industrial Group', 'FrieslandCampina', 'Danone', 'Müller Group', 'The Hain Celestial Group', 'Agropur Dairy Cooperative', 'Saputo Inc.', 'PepsiCo', 'Dean Foods', 'Lactalis Group', 'Yili Group', 'Fairlife, LLC', 'The Coca-Cola Company', 'Amul', 'Chobani, LLC', 'Dairy Farmers of America', 'WhiteWave Foods Company'

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.

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.    

North America accounts for the major share of the 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.