India Milk-Based Beverages Market

India milk-based beverages market is project to add an incremental market revenues of over USD 3.5 billion between 2024 and 2031 growing at robust CAGR during the forecast period.

Milk-based beverages are RTD (ready to drink) products which provides an essential source of nutrition to consumers. It is one of the most active functional drink that offers all major nutrients similar to unflavoured milk such as protein, calcium, vitamin D, vitamin A, vitamin B12, potassium, phosphorus, riboflavin and niacin. Milk-based beverages are further classified into flavoured milk beverages and fermented milk beverages.

Major India Milk-Based Beverages Market Drivers

The key factors propelling the market growth include increasing consumer focus towards health coupled with rising disposable income. Furthermore, increasing awareness of nutritional benefits of healthy ready-to-drink milk-based beverages among consumers will boost the India milk-based beverages market. Milk-based beverages contain various essential nutrients such as protein, calcium, vitamin A, potassium and other nutrients which plays a major role in the growth and development of individuals. Moreover, increasing hectic lifestyles of working population along with the rising health-consciousness among consumers is expected to fuel the growth of the India milk-based beverages market during the forecast period. In addition, the consumption of milk in India is on the rise, the production of milk increased from 112.2 million tonnes in 2008-2009 to 176.3 million tonnes in 2017-2018 as per the national dairy development board.

Based on the product type, flavoured milk type captured the significant market share in 2018 and it is expected to grow at the fastest growth rate during the forecast period owing to increase in demand for flavoured milk together with availability of a wide range of flavoured milk beverages such as chocolate, mango, vanilla and others. In addition, younger generation is switching to healthy beverages from unhealthy carbonated beverages will further increase the demand for milk-based beverages.

Based on packaging, paper-based packaging accounted for the largest market share in 2018 unlike plastic and glass jugs, paper-based packaging doesn’t let in much light. As UV light can degrade vitamins A and D and riboflavin, paper-based packaging will preserve more of the healthy nutrients in milk and increase its shelf life. Moreover, paper-based packaging is cost-effective, and it also comes in a variety of sizes and it is lightweight.

Based on the distribution channel, convenience stores dominated the market in 2018 as these stores are easily accessible and provides better options to the consumers however, online stores are projected to grow at the fastest growth rate during the forecast period as online retail has grown steadily as a percentage of total retail sales.

Based on the fat content, low-fat is expected to grow at a highest CAGR as consumer preference for low-fat milk-based products is increasing considerably. The consumers are becoming more health-conscious and thus are preferring low-fat products.

Top Market Players

Various notable players operating in the market, include Nestle India Limited, Amul (Gujarat Co-operative Milk Marketing Federation Ltd.), Mother Dairy Fruit & Vegetable Pvt. Ltd., Sunfeast (ITC Limited), Milma (Kerala Co-operative Milk Marketing Federation Ltd), Britannia Industries Limited, Vio (The Coca-Cola Company), Heritage Foods Limited, The Hershey Company, Nandini (Karnataka Co-operative Milk Producers Federation Ltd.), among others. Prominent players are focusing on introducing new flavoured milk-based beverages with low fat content to increase their presence in the India Milk-Based Beverages Market.

Key Market Developments:

• • In 2019, Heritage foods limited launched a diversified range of drinks for health which includes new variations of Lassi named Sabja Lassi and Ragi Lassi. Through this launch, the company strengthened its product portfolio and its value.
  • In 2018, ITC Ltd expanded its dairy product portfolio under the brand Sunfeast Wonderz. The Sunfeast Wonderz Milk comprises of ready to drink beverages include fruit n milk mango, fruit n milk mixed fruit, classic vanilla and kesar badam in Southern India.
  • In 2018, Coca-Cola India Pvt. Ltd expanded its existing portfolio of beverages i.e., flavored milk to provide more choice to consumers in Bangalore.

Segments covered in the Report:

The India milk-based beverages market segmented into product type, packaging, fat content, distribution channel. Based on product type, the market is segmented into flavoured milk beverages and fermented milk beverages. Flavoured milk beverages are further segmented into chocolate, strawberry, vanilla, mango, and others and fermented milk beverages are further segmented into lassi, chach and others. Based on packaging, the market is segmented into paper-based, plastic-based, glass-based and metal-based. Based on fat content, the market is segmented into low-fat and whole milk. Based on distribution channel, the market is segmented into online stores, supermarkets, convenience stores and others.

Report Coverage	Details
Market Revenues (2023)	USD Million
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By Packaging, By Fat Content, By Distribution Channel
Regional Coverage	India
Companies Profiled	Nestle India Limited, Amul (Gujarat Co-operative Milk Marketing Federation Ltd.), Mother Dairy Fruit & Vegetable Pvt. Ltd., Sunfeast (ITC Limited), Milma (Kerala Co-operative Milk Marketing Federation Ltd.), Britannia Industries Limited, Vio (The Coca-Cola Company), Heritage Foods Limited, The Hershey Company, Nandini (Karnataka Co-operative Milk Producers Federation Ltd.) among others; a total of 12 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

 Market Segmentation:

India Milk-Based Beverages Market by Product Type

• • Flavoured Milk Beverages
    • Chocolate
    • Strawberry
    • Vanilla
    • Mango
    • Others
  • Fermented Milk Beverage
    • Lassi
    • Chach
    • Others

India Milk-Based Beverages Market by Packaging

• • Paper-based
  • Plastic-based
  • Glass-based
  • Metal-based

India Milk-Based Beverages Market by Fat Content

• • Low-fat
  • Whole Milk

India Milk-Based Beverages Market by Distribution Channel

• • Online Stores
  • Supermarkets
  • Convenience Stores
  • Others

Leading market players (Option 1: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nestle India Limited
  • Amul (Gujarat Co-operative Milk Marketing Federation Ltd.)
  • Mother Dairy Fruit & Vegetable Pvt. Ltd.
  • Sunfeast (ITC Limited)
  • Milma (Kerala Co-operative Milk Marketing Federation Ltd)
  • Britannia Industries Limited
  • Vio (The Coca-Cola Company)
  • Heritage Foods Limited
  • The Hershey Company
  • Nandini (Karnataka Co-operative Milk Producers Federation Ltd.)