LONDON--(BUSINESS WIRE)--The global packaged milkshakes market is expected to grow at a CAGR of close to 7% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global packaged milkshakes market by product which includes chocolate flavored, strawberry flavored, vanilla flavored, and almond and other nuts flavored. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing awareness of health benefits of milkshakes
Owing to the increase in health concerns, consumers have started to focus on increasing their intake of vitamins, proteins, and active digestive health ingredients such as prebiotics and probiotics. Consumers have started consuming more functional foods and drinks. Several consumers also think that better digestive health plays an essential role in preventive health care. Therefore, milkshakes with functional food ingredients are perceived to repair skin health, improve immunity, increase energy levels, and improve the overall well-being. Thus, consumers have now come to an understanding that while the pharmaceutical industry aims to cure diseases, healthy food and drinks concentrate on disease prevention. The growing awareness of preventive health care is driving the global packaged milkshakes market.
According to a senior analyst at Technavio for non-alcoholic beverages research, “The increasing popularity of milkshakes is because of their several health benefits. As milkshakes are usually made from milk and fruits, they provide essential nutrients, vitamins, and trace elements. In addition, milkshakes are also a good source of probiotics.”
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Market trend: rapidly increasing private label offerings
The global packaged milkshakes market is fragmented due to the presence of many major and small players in the market. Furthermore, the competition has increased as private label brands have become popular and are competing with leading brands. In some of the regions, many private-label milkshakes manufacturers market and sell their products claiming that the products contain same formulations as the branded products. Thus, they are challenging the branded label retail price and reducing the market share of major brands. Consequently, the popularity of the private label products is limiting the growth of the major brands and acting as one of the major challenges to the market. However, the entry of private labels will drive the demand for packaged milkshakes market during the forecast period.
Market challenge: fluctuating prices of raw materials
The major raw materials for milkshakes are fruits, vegetables, sugar, milk, and others. The increase in the price of raw materials leads to an increased production cost. Consequently, manufacturers of packaged milkshakes must purchase raw materials at high costs. In addition, the supply of raw materials gets affected because of the adverse weather conditions, national emergencies, natural disasters, supply shortages, and other unexpected events.
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Some of the major companies in the global packaged milkshakes market:
- CavinKare Group
- Dean Foods
- DANONE
- FrieslandCampina
- Müller UK & Ireland (Müller)
- Nestlé
- THE HERSHEY COMPANY
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