Newark, May 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 558.1 million in 2023 packaged milkshake market will reach USD 980.7 million by 2033. Packaged milkshakes come in a variety of flavors, ranging from classic choices like chocolate, vanilla, and strawberry to more unusual ones like fruit mixes, cookies and cream, banana, and coffee. This range accommodates a wide range of consumer tastes and preferences. Additionally, consumers now have a handy way to enjoy milkshakes without having to prepare or blend them thanks to packaged milkshakes. They are convenient for busy lifestyles and on-the-go snacking because they are ready to drink and portable.
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Key Insight of the Packaged Milkshake Market
North America is anticipated to expand at the fastest CAGR of 12.1% over the projection period.
North America is expected to grow at the fastest CAGR of 12.1% over the forecast period. There is a significant market need for quick and decadent drinks like boxed milkshakes in North America. Customers frequently look for both novel flavors like salted caramel, peanut butter, or seasonal flavors in addition to well-known tastes like chocolate, vanilla, and strawberry. Additionally, although indulgence plays a big role in the packaged milkshake market in North America, consumers' interest in healthier options is expanding. In response, companies are providing dairy-free, low-fat, low-sugar, and dairy-free options in addition to goods enhanced with protein, vitamins, and other useful components to appeal to consumers who are health-conscious.
In the Packaged Milkshake market, the chocolate segment is anticipated to expand at the highest CAGR of 12.4% over the projection period.
The chocolate segment is anticipated to expand at the highest CAGR of 12.4% over the projection period. Customers who like chocolate-flavored pastries, candies, or bars may find chocolate-flavored milkshakes appealing. Packaged milkshake businesses can take advantage of the widespread appeal of chocolate across other food and beverage categories, thereby catering to preexisting consumer tastes and habits. Additionally, although chocolate milkshakes are a year-round favorite, they are especially well-liked in the warmer months or as a cozy treat in the winter. In order to increase sales, brands can take advantage of this seasonality by providing limited-time discounts, seasonal flavors, or packaging with holiday themes.
In the packaged milkshake market, the paper segment is anticipated to expand at the highest CAGR of 11.2% over the projection period.
The paper segment is anticipated to expand at the highest CAGR of 11.2% over the projection period. When compared to packaging made of plastic or other materials, paper is frequently seen to be more environmentally friendly. Brands can use paper packaging to appeal to eco-conscious consumers and set themselves apart in the market as consumers' concerns about environmental issues grow. Additionally, paper packaging may be recycled widely, which attracts customers who value sustainability. Companies can improve their brand image and appeal to environmentally concerned consumers by highlighting the recyclability of their paper packaging.
In the packaged milkshake market, the online segment is anticipated to expand at the highest CAGR of 13.2% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 13.2% over the projection period. Online marketplaces like Amazon, Walmart.com, and Instacart are just a few examples of the third-party online markets via which brands can offer packaged milkshake products. These platforms have a broad audience that allows marketers to target customers in various demographic and geographic areas. Additionally, direct-to-consumer sales enable manufacturers to offer packaged milkshake items to customers directly through their own web platforms, circumventing established retail channels. With DTC models, brands can direct consumer connections, collect insightful data, and manage the customer experience.
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Market Dynamics
Driver
Businesses are always coming up with new and inventive flavors and using components that are in vogue, such plant-based substitutes, protein supplements, and superfoods. Consumers are kept interested and are encouraged to explore new items by this ongoing innovation. Additionally, as more and more consumers dine on the go, packaged milkshakes offer a handy and transportable solution for sating cravings or hunger when out and about, traveling, or engaging in outdoor activities. Additionally, appealing packaging, captivating ad campaigns, and a strong social media presence are examples of effective marketing techniques that are vital in raising consumer awareness and buy intent. In a crowded market, strong branding aids businesses in setting their products apart.
Opportunity
Providing options for customized milkshakes enables customers to personalize their drinks. Packaged milkshake manufacturers can offer DIY kits or adaptable flavor mixes so that customers can combine components to make personalized taste combinations at home. Additionally, packaged milkshakes can market themselves to people who are always on the go as easy snacks or meal substitutes. Packaging formats that brands might investigate include pouches, single-serve bottles, and portable cups with resealable lids or integrated straws for convenient consumption at any time or place.
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Some of the major players operating in the Packaged Milkshake market are:
• Dean Foods
• The Hershey Company
• Danone
• Nestle
• GCMMF
• CavinKare
• Mother Dairy Fruits & Vegetables
• Britannia
• FrieslandCampina
• Muller UK & Ireland
Key Segments cover in the market:
By Flavors
• Chocolate
• Vanilla
• Strawberry
• Others
By Packaging
• Glass
• Tin
• Paper
• Plastic
By Distribution Channel
• Offline
• Online
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