global Chocolate Milk Market size was valued at $ 9.34 Billion in 2023, and is projected to reach $ 12.88 Billion by 2030, registering a CAGR of 4.71% from 2023 to 2030.
chocolate milkis made by mixing chocolate, sugars, or high-fructose corn syrup with milk. Vitamins A, B1, and B6 are abundant in chocolate milk, along with leucine, which is important for bone health and for maintaining and growing strong muscles. As an easy way to get energy and nutrients, chocolate milk can replace unsweetened milk, therefore the market is anticipated to expand at a steady pace over the next several years. The ingestion of chocolate milk, enhanced with cocoa flavanols, can improve blood flow to the brain, memory, skin smoothing and hydration, and immune system function.
The market will rise in the next years due to the sweet taste receptors in chocolate milk and all of its additional benefits. The key driver of the global chocolate milk market's growth, however, is the growing customer demand for natural, wholesome, portable snack options. Furthermore, the market is anticipated to rise at a faster rate throughout the projected period due to shifting trends and a desire for healthier living.
The chocolate milk industry is expanding quickly due to consumer need for wholesome, secure, and portable snack options. In addition, the market is expanding due to customer preferences for better lives and changes in consumer behavior. Because it comes in a variety of flavors, chocolate milk offers seniors as well as kids and teens a quick and easy way to have a nice and healthful beverage. After a strenuous workout, adults can benefit from chocolate milk as well since it helps them recover more quickly, boost their stamina, lessen post-workout fatigue, and supply vital proteins and nutrients. From now on, the market for chocolate milk is expected to rise due to its handy substitute for conventional drinks and consumers' inclination for nutritious drinks of all ages.
The market for chocolate milk has enormous growth potential because consumers are drawn to functional food products and beverages, and they choose ready-to-drink beverages with minimal or no sugar and sodium. To provide creative, sugar-free, and healthful chocolate milk, several major businesses are raising their marketing research and development expenditures. In addition, a lot of the industries that produce chocolate milk are innovating in the flavored milk market by introducing visually appealing packaging, putting more focus on flavors, and creating indulgence that appeals to adults. All of these strategies will help to expand the market for flavored milk and boost consumer demand.
Global Chocolate Milk Market, Segmentation
The Chocolate Milk Market is segmented based on type, distribution channel, and region.
By Type:
The market for chocolate milk is predicted to be dominated by the Dairy-Based Chocolate Milk sector. Chocolate milk without dairy is the market sector with the quickest rate of growth. Global demand for non-dairy drinks and protein shakes is fierce competition for the dairy-based chocolate milk sector. Athletes and adults who had previously written off dairy-based chocolate milk as a beverage for kids have benefited from the dairy industry's ongoing marketing campaigns. Growing consumer disposable income and rising consumer awareness of the health benefits of flavored dairy products, including chocolate milk, are also some of the major causes expected to shift demand. This kind of innovation in the product category is drawing in more customers, which is helping the market expand.
Distribution Channel:
The expansion of the chocolate milk market is expected to be dominated by the supermarket/hypermarket channel. Supermarkets utilize chocolate milk as a sales booster. Because they can immediately satiate desires while grocery shopping, it also helps shoppers view more things on shelves. Chocolate milk is used in supermarkets to boost sales. These channels have the added benefit of influencing consumers' decisions to buy the wide range of brands that are accessible on the market thanks to their closeness, which is especially beneficial in urban and metropolitan areas. Supermarkets and hypermarkets are becoming more and more common due to the broad retail visibility of products.
Region:
The market for chocolate milk is expected to be dominated in the next years by the Asia Pacific region. The key factor driving the rapid rise of chocolate milk in the Asia-Pacific area is consumer demand for natural, portable, nutrient-dense, and healthful snack options. The industry is expanding due to consumers' shifting preferences for healthier lifestyles and their changing lifestyles. Because dairy products naturally include significant levels of calcium and protein, they are viewed as a healthy beverage option. Thus, the Asia Pacific region is seeing an increase in demand for chocolate milk, which is the more convenient and healthful option. The Asia-Pacific area is witnessing a surge in the growth of organic chocolate drinks due to a steady shift in consumer food consumption patterns and an increased demand for chocolate drinks.
Some of The Leading/Active Market Players Are-
- The Hershey Company (US)
- Dairy Farmers of America Inc. (US)
- Arla Foods (Denmark)
- Dean Foods (Texas)
- Groupe Danone (France)
- Inner Mongolia Yili Industrial Group (China)
- Nestle SA (Switzerland)
- Royal Friesl and Campina (Netherlands)
- Saputo Inc (Canada)
- Amul (India),and Other Active Players
Key Industry Developments
- In November 2022, A new co-branded chocolate-flavored milk was introduced by the premium milk company a2 Milk Co. and the nation's top milk chocolate brand, The Hershey Co. This organic chocolate milk is tasty and nutrient-rich.
- In June 2022, The Indian beverage manufacturer Parle Agro introduced a range of flavored milk called Smooth to broaden its product offering into the dairy sector. Tetra Pak containers containing 85ml of this flavor-infused milk cost INR 10, and it is supposedly the first of its sort worldwide.
Key Findings of the Study
- Dairy-based chocolate milk dominates the market, but non-dairy options are growing rapidly, fueled by consumer demand for protein shakes and alternative beverages.
- Supermarkets and hypermarkets lead distribution, offering diverse brands, especially in urban areas, and leveraging chocolate milk to boost overall sales.
- Asia Pacific drives market growth due to demand for natural, nutrient-rich snacks and a shift toward healthier lifestyles.
