Market Size of Asia-Pacific Flavored Milk Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 2.23 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Asia-Pacific Flavored Milk Market Analysis
The Asia-Pacific flavored milk market is projected to register a CAGR of 2.23% during the forecast period (2020 - 2025).
- The market is primarily driven by the desire for nutritious and healthy food, which is prompting consumers to turn to nutrient-rich milk products. Urbanization, rising prosperity, and the pace of modern life have increased 'on-the-go' consumption of ready-to-drink (RTD) beverages.
- Consumers' eagerness to try new food and drinks and them seeking indulgent eating and drinking experiences as a way of escaping the daily grind are also boosting sales in the region.
- Despite the important nutrient contributions flavored milk makes to the diet, concerns about the potential effects of the added sugar and flavorings in flavored milk have raised questions regarding the role of flavored milk in a healthy diet.
Asia-Pacific Flavored Milk Industry Segmentation
The Asia-Pacific flavored milk market is segmented by type into dairy-based and plant-based. By distribution channel, the market is segmented into Off-Trade and On-Trade. Off-trade is further segmented into supermarkets/hypermarkets, convenience stores, specialist stores, online retail stores, and other distribution channels. The report also involves the geographical segmentation of the market.
By Type | |
Dairy-based | |
Plant-based |
By Distribution Channel | |||||||
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On-Trade |
By Geography | |
China | |
India | |
Japan | |
Australia | |
Rest of Asia-Pacific |
Asia-Pacific Flavored Milk Market Size Summary
The Asia-Pacific flavored milk market is experiencing growth driven by a shift towards nutritious and healthy food options, with consumers increasingly opting for nutrient-rich milk products. The trend of urbanization and the fast-paced modern lifestyle have contributed to the rise in consumption of ready-to-drink beverages, including flavored milk. Consumers are also seeking indulgent eating and drinking experiences, which further fuels the market's expansion. However, there are concerns regarding the health implications of added sugars and flavorings in flavored milk, which have sparked debates about its role in a balanced diet. The market is also influenced by the growing vegan population in countries like Australia and China, alongside a significant segment of consumers in Southeast Asia opting for lactose-free dairy alternatives due to lactose malabsorption issues.
In developed markets such as Japan, the introduction of certifications for dairy alternative ingredients and functional foods has supported the market's growth. Japanese consumers are increasingly using these products not only as beverages but also as cooking ingredients. The flavored milk category is rapidly expanding, with both major and local brands innovating in terms of quality, ingredients, flavors, and packaging to attract new customers. Despite the competitive and fragmented nature of the market, with key players like Nestlé SA, Hershey's, and Saputo Inc. leading the charge, regional players have the opportunity to gain a competitive edge through substantial innovation. However, the market's growth is challenged by stringent government regulations concerning the import and export of dairy products.
Asia-Pacific Flavored Milk Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Dairy-based
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2.1.2 Plant-based
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2.2 By Distribution Channel
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2.2.1 Off-Trade
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2.2.1.1 Supermarkets/Hypermarkets
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2.2.1.2 Convenience Stores
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2.2.1.3 Specialist Stores
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2.2.1.4 Online Retail Stores
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2.2.1.5 Other Distribution Channels
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2.2.2 On-Trade
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2.3 By Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 Australia
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2.3.5 Rest of Asia-Pacific
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Asia-Pacific Flavored Milk Market Size FAQs
What is the current Asia-Pacific Flavored Milk Market size?
The Asia-Pacific Flavored Milk Market is projected to register a CAGR of 2.23% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Flavored Milk Market?
Danone, Nestle S.A, Hershey’s and Saputo Inc are the major companies operating in the Asia-Pacific Flavored Milk Market.