The increase in consumption of milk owing to variety of flavors propelling Indian flavored milk industry, says RNCOS in its latest research reports.
The consumption of milk is witnessing a boost with the increase in preference of flavored milk by young and adults. With the increase in share of ‘ready–to-drink’ category, flavoured milk has become an alternative to other beverages and is being encouraged by the expansion and new entrants in the industry.
According to our latest research study “India Flavoured Milk Market Outlook 2022”, new entrants and existing players in the industry continue to capture existing and untapped market share through their product offerings. Further, increasing government initiatives to develop and enhance dairy products, the flavored milk segment is anticipated to grow at a CAGR of around 21% during 2014-2022.
The industry is witnessing expansion as the companies continue to innovate and reinvent flavours to make flavoured milk meet huge range of health, nutritional and lifestyle needs. While the leading players still compete, new entrants and launches of various other flavors are successfully addressing the taste of the targeted consumer leading to popularity of the product amongst teenagers at large.
Domestic players are actively participating in the market competition, and are investing in research and development for creation of new flavors to stay profitable in future. The flavored milk industry would continue to grow with increasing base for the customers while leaving positive impact on the flavored milk industry of the country.
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