The Global Chocolate Milk Market was valued at USD 9.34 Billion in 2023, and it is projected to reach USD 14.15 Billion by 2032, registering an estimated CAGR of 4.72% during 2023- 2032.
Chocolate milk is largely produced with the aid of combining milk, chocolate, and numerous sweeteners consisting of excessive-fructose corn syrups or sugars. Chocolate milk is wealthy in leucine, nutrients, and nutrients A, B1, B6 which may be very important in maintaining and constructing robust muscle groups, and is beneficial for the bone fitness. Being an alternative choice to unsweetened milk, and a convenient supply of energy and vitamins, chocolate milk marketplace is predicted to develop at tempo inside the forecasted years. The consumption of chocolate milk which is enriched with cocoa flavanols improves the mind’s blood drift; also allows in boosting the reminiscence, smoothening and in hydrating the pores and skin, and improving immune gadget.
The sweet flavor receptors with all those delivered benefits of chocolate milk are derived to pressure the market boom in the imminent years. However, the growing consumer demand for herbal, nutritious, handy, and healthy on-the-cross snack options is the primary detail for the increase of chocolate milk market global. In addition to this, the changing tendencies and inclination towards a healthful lifestyle are expected to drive the marketplace increase inside the forecast length.
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Who are the key players operating in the industry?
- Amul(India)
- Arla Foods (Denmark)
- Dairy Farmers of America Inc. (US)
- Dean Foods (Texas)
- Groupe Danone(France)
- Inner Mongolia Yili Industrial Group (China)
- Nestle SA (Switzerland)
- Royal FrieslandCampina (Netherlands)
- Saputo Inc (Canada)
- The Hershey Company (US)
Drivers: Healthy Drink Choice and Convenient Alternatives
The developing consumer demand for the nutritious, healthy and safe on-the-go snack choices are driving the chocolate milk market boom directly. Additionally, the customer preference for a more fit lifestyle and the evolving lifestyles of customers are using the market boom. Chocolate milk being available in numerous flavors, imparts a short and convenient opportunity for wholesome and tasty drink, no longer just for the children and teens, but additionally for the elder era. Chocolate milk is also useful for the adults after an excessive workout because it helps them preserve energy, boom staying power, reduce post exercise exhaustion and offer vital proteins and vitamins. Henceforth, the convenient alternative to any ordinary drink, and the wholesome drink preference from any age institution is most likely to propel the boom of chocolate milk marketplace inside the predicted years.
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The Report on Platform As A Market provides detailed analysis of segments in the market based on:
By Type
- Dairy-Based Chocolate Milk
- Non-Dairy Based Chocolate Milk
By Distribution Channel
- Supermarket/ Hypermarkets
- Convenience Stores
- Other Distribution Channels
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
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Key Industry Developments In The Chocolate Milk Market
- In September 2020, Nestlé expanded its range of dairy alternatives with the launch of plant-based Nesquik drink in Europe. The new ready-to-drink beverage was launched first in Spain, Portugal, and Hungary and then in other European countries. It consists of oats and peas with sustainably sourced cocoa, and it is lower in sugar than regular milk-based Nesquik.
- In July 2019, FrieslandCampina launched Chocomel, a Dutch brand of chocolate-flavored milk, into the United Kingdom in a single-serving ‘to-go 250ml can.
Restraints:
Fluctuation of Raw Material Prices and Risk of Diseases
Fluctuating uncooked material prices, specifically cocoa, volatility in supply of chocolate milk products, and political- instability in producing cocoa in maximum of the cocoa- generating international locations are estimated to stifle the global chocolate milk market within the projected years. Excessive chocolate milk intake if now not monitored nicely, can reason cavities, weight problems, and different health troubles in youngsters. Additionally, though chocolate milk is a wholesome and attractive beverage, it possesses greater sugar content than the normal milk, henceforth, it must be taken into consideration greater of a dessert than a beverage for adults in addition to children. Extensive intake of energy and brought sugar which leads to weight advantage and growth the hazard of sure persistent diseases is envisioned to abate the increase of chocolate milk marketplace in the projected years.
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