The packaged milkshakes market reached $323.84 million in 2023 and is set to grow at a 6.3% CAGR, reaching $596.58 million by 2033. This growth is fueled by busy lifestyles and health-conscious consumer demands for convenient, nutrient-enriched options.
With a projected valuation of US$ 323.84 million in 2023, the packaged milkshakes market is expected to grow at a compound annual growth rate (CAGR) of 6.3%. By 2033, there will be a $596.58 million global market.
The market is primarily being driven by consumers’ busy lives and growing health concerns. Because of the mobility of packaged milkshakes and their incorporation of proteins, vitamins, and other trace elements, demand is anticipated to rise during the estimated time.
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Packaged Milkshakes Market in the Future: Key Trends and Bottlenecks
Accelerated Use of Tetra Packs for Milkshakes to Positively Impact Market Growth
Asia Pacific is a leading producer and consumer of milk. Unfortunately, milk availability varies considerably. Tetra Pak is transforming the landscape in collaboration with groups like Amul and the Karnataka Milk Federation. Milk cooperatives and private dairies can transport fresh milk from farmers to homes because of innovative, affordable, and small Tetra Pak pack forms.
Tetra Packs are smaller and need less energy to send. Food waste is reduced because the contents remain longer. During the anticipated period, the packaged milkshakes industry is expected to develop due to the expanding use of tetra packs for milkshake packaging.
Milkshake Innovations to Push Up Demand for Packaged Milkshakes
The packaged milkshake market is expanding as a result of the creation of new, inventive milkshake varieties. To strengthen its position in the beverage sector, a new line of shakes in four flavors was introduced.
- Aimed at young people, Amul Kool Milk Shake is a combination of milk and fruits (banana, mango, and strawberry), whereas Amul Kool Milk Shake Badam contains nuts. Tetra packs and cans were used to package the four kinds.
The market is expected to increase between 2023 and 2033 as a result of these types of cutting-edge product introductions.
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Inadequacy of Infrastructure, Hurdles in Conducting Business, and Profitability Concerns Challenges Currently Facing Market Growth
Despite the packaging industry’s preference, several factors are preventing the sector from growing. The market is being constrained by a lack of suitable infrastructure and operational challenges. To have a more individualized experience, certain classes of customers in certain regions prefer unpackaged milkshakes from local sellers, possibly merely in glasses.
Such consumer groups may be discouraged from choosing bottled milkshakes due to misconceptions about packaging. The packaged milkshake market is experiencing growing challenges as a result of these problems.
Key Takeaways
- In a packaged milkshake, the chocolate flavor is one of the most popular tastes, and during the projection period, sales of this flavor accounted for 39.2% of total sales.
- Paper dominated the market in terms of packaging material, accounting for 37.2% of global revenue during the forecast period.
- Between 2023 and 2033, Asia Pacific had a 32.0% packaged milkshakes industry share.
- The Middle East and Africa are anticipated to record a CAGR of 7.2% throughout the projection period.
- By 2023, the market in India is predicted to reach US$ 16.68 billion, recording a CAGR of 12.9%. By 2033, it is anticipated that the Indian market is likely to be worth US$ 56.12 billion.
Competitive Landscape
The Hershey Company, CavinKare, Mother Dairy Fruits & Vegetables, Britannia, Friesland Campina, Danone, Nestle, GCMMF, Dean Foods, The Hershey Company, Muller UK & Ireland, and Mother Dairy Fruits & Vegetables are a few of the key market participants in the sector.
Due to the local merchants’ presence in the unorganized market and unpackaged milkshakes, the market has medium to low entry barriers. The packaged milkshakes industry is further fueled by novel flavor combinations and packaging innovations.
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Key Segments
By Flavor:
- Chocolate
- Vanilla
- Strawberry
- Others
By Packaging Material:
- Glass
- Tin
- Paper
- Plastic
By Region:
- North America
- Europe
- Asia Pacific
- The Middle East and Africa
- Central and South America
Recent Development
- Mother Dairy launched the brand ROCKET to the cutting-edge ice cream industry.
In July 2020, Mother Dairy debuted the brand ROCKET, joining the cutting-edge Ice Cream – Chocolate category with two revolutionary flavors: Belgian Chocolate and French Vanilla.
Neila, a brand mascot that represents Mother Dairy’s preferred color Blue, was also developed by the company! With the introduction of ROCKET Ice Cream – Chocolate, Mother Dairy continues to prioritize innovation and customer service.
- CavinKare introduced cleaning goods under its personal care brands.
Beginning in March 2020, CavinKare introduced sanitizing goods at Re 1. The company has adopted its decision across all new SKUs, including 10 ML, 50 ML, 90 ML, 400 ML, 800 ML, and a 5-liter pack, and it is well within the government’s recently established pricing guideline.
The business has launched hand sanitizers under the personal care brands Chik and Nyle, as well as its professional brand Raaga.
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