Chocolate Milk Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026

The chocolate milk market is projected to grow by USD 1231.65 million with a CAGR of 4.34%, during the forecast period 2021 to 2026.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by distribution channel (supermarket and hypermarkets, online, convenience stores, and others) and geography (North America, Europe, APAC, South America, and MEA).

The chocolate milk market report also offers information on several market vendors, including Arla Foods amba, Dairy Farmers of America Inc., Gujarat Cooperative Milk Marketing Federation, Inner Mongolia Yili Industrial Group Co. Ltd., Muller UK and Ireland Group LLP, Nestle SA, Royal FrieslandCampina NV, Saputo Inc., Sofina SA, and The Hershey Co. among others.

Arla Foods amba - The company offers chocolate milk products such as Arla Protein and Arla Protein Chocolate flavoured milk drink with less sugar. The Europe segment of the company deals with the sales of milk-based branded beverages in the UK, Germany, Denmark, The Netherlands, and Finland among others.

What will the Chocolate Milk Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global chocolate milk market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chocolate milk market during the forecast period.

Chocolate Milk Market: Key Drivers, Trends, and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Chocolate Milk Market Driver

• One of the key factors driving growth in the chocolate milk market is the increasing consumer disposable income. 
• The increasing per capita income of consumers has resulted in the increased demand for premium, flavoured food and beverages, such as chocolate milk. Due to the rapid urbanization in these countries and the improvement in the standard of living, there has been a shift in consumer preference for functional beverages from prominent brands.
• International brands have been increasingly launching new products in these developing economies to cater to the increased demand from consumers.
• The increasing disposable incomes of consumers in developed as well as developing economies will lead to an increased demand for chocolate milk products. As the demand for chocolate products will increase, the global chocolate milk market will grow during the forecast period.

Key Chocolate Milk Market Challenge

• The availability of substitutes will be a major challenge for the chocolate milk market during the forecast period. There is a wide range of substitutes for chocolate milk, which are available in retail stores.
• Numerous prominent brands offer alternative products such as unflavored, functional beverages. In recent years, there has been a growing demand for unflavored dairy and non-dairy beverages that contain nutrients such as protein, calcium, vitamin D, vitamin A, vitamin B12, potassium, phosphorus, riboflavin, and niacin. This can be attributed to increasing consumer awareness of the harmful effects of beverages that contain artificial flavourings. In order to cater to this demand, food and beverage companies are launching new products that are free from artificial flavours. 
• The availability of a wide range of substitutes for dairy-based chocolate milk poses a challenge for the vendors in the market and can have a negative impact on the growth of the global chocolate milk market during the forecast period. 

This chocolate milk market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Chocolate Milk Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the chocolate milk market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Chocolate Milk Market?

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30% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for chocolate milk in North America. Market growth in this region will be slower than the growth of the market in other regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Distribution Channel Segment in the Chocolate Milk Market?

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The chocolate milk market share growth by the supermarket/hypermarket segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the chocolate milk market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Chocolate Milk Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive chocolate milk market growth during the next five years
• Precise estimation of the chocolate milk market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the chocolate milk market industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive analysis of factors that will challenge the growth of chocolate milk market vendors

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