The global packaged milkshakes market size was accounted for USD 238.6 million in 2018. The market is expected to witness a 6.3% CAGR, during the forecast years. The rising number of health-conscious people and their busy lifestyles are major factors to drive the growth of this market. Furthermore, the demand for a packaged milkshake is projected to propel in the next few years, as it is a high source of vitamins, proteins, and other elements.
Increasing the shift towards consuming probiotic beverages which are a high source of nutrients is expected to drive the growth of this market. In addition, rising demand by health-conscious people is reshaping the market to some extent. Milkshake helps to keep healthier skin, boost the energy level, and improve overall wellbeing.
Brand image and advertisement play an important role to fuel the packaged milkshakes market growth. Manufacturers are striving to come up with attractive advertisements by endorsing famous sportspeople to increase awareness about the health benefits of the product. Milkshakes are majorly preferred by the young population, as it is very convenient to carry on the movie. However, the market is facing some challenges owing to fluctuation in the price of raw materials. Hence, it has become a challenge for manufacturers to sustain the profit margin
In developing countries, the local vendor is expected to hinder the packaged milkshake demand during the forecast period, as some customers prefer local vendor milkshake owing to customization in the product over a packaged milkshake. However, increasing demand for a packaged milkshakes in Asia and Europe is projected to open new opportunities to fuel market growth.
Based on the flavor, the market is divided into vanilla, strawberry, chocolate, and others. Chocolate milkshake is most popular among consumers and this flavor has accounted for around 39.0% of market share, in 2018. This shake is prepared by natural ingredients such as cocoa beans. Thus, the sweet aroma of cocoa beans is anticipated to further drive the growth of this segment in the next few years.
Rising awareness about the health benefits of chocolate milkshakes among health-conscious people is expected to augment the segment growth. On the other hand, the vanilla flavor is also gaining traction among consumers and is expected to have significant growth over the forecast period. The several health benefits associated with vanilla extract are propelling the market growth, as it is helpful for healthier skin, pain, and stress relief, and having an anti-inflammatory property.
By packaging material, the packaged milkshake market is bifurcated into paper, tin, glass, and plastic. In 2018, paper material accounted for the largest market share of more than 37.0% in terms of revenue. The rising popularity of tetra packs among consumers is expected to drive segment growth. The manufacturers also prefer such packaging due to the low cost associated with raw packaging material.
On the other hand, the consumers also prefer glass packaging of milkshakes owing to its easy handling and consumption anytime during any activity. Another advantage of glass material is that it is non-reactive to any consumable products which keep milkshake healthy, natural, and safe for a longer time of period. Owing to recyclability and reuse qualities manufacturers prefer this material for packaging. Thus, the above-mentioned factors are projected to drive substantial growth of the glass packaging material segment in the forecast period.
In 2018, Asia Pacific held the largest market share of 32.0% and projected to have considerable growth during the forecast period. In this region, Japan has a potential market and is anticipated to witness significant growth from 2019 to 2025. The availability of a wide range of flavors coupled with food chains like McDonald’s is projected to open new avenues for regional market growth.
Middle East & Africa is estimated to grow with the fastest CAGR of more than 7.0% from 2019 to 2025. Humid and hot climate in the region coupled with innovation of several flavors in milkshake by manufacturers is the key factor to spur the regional market growth. In addition, the increasing trend of good-looking coupled with hectic lifestyle in this region is projected to drive industry growth in the next few years.
Some major market players operating in this industry are CavinKare,Mother Dairy Fruits & Vegetables, Danone, Muller UK & Ireland Britannia, Friesland, Campina, GCMMF and Nestle. The market has low entry barriers owing to presence of local vendors unstructured and unpacked market. Innovation in flavors and attractive packaging designs are some factors to drive the market growth.
Manufacturers are focusing on R&D to understand consumers' demand and their purchasing behavior. To sustain in a competitive market, manufacturers are also implementing several marketing strategies such as promotional activities and advertisement, campaigns and sponsorship. For example, during a cricket match, Amul has come up with unique tagline “cheers to the leaders, keep your body moving” to show drink is energetic and healthy for human body.
Base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2025
Revenue in USD Million & CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
U.S., France, Germany, China, Japan, Brazil, and Turkey
Revenue forecast, company share, competitive landscape, and growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global packaged milkshakes market report based on flavor, packaging material, and region:
• Flavor Outlook (Revenue, USD Million, 2015 - 2025)
• Packaging Material Outlook (Revenue, USD Million, 2015 - 2025)
• Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East and Africa
Research Support Specialist, USA
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