India Packaged Milkshake Market Research Report: Forecast (2022-2027)

Market Definition

Milkshakes are cold beverages where the prominent ingredients include milk, ice creams, flavoring syrups, fruits, sugars, and more. There is an extensive variety of milkshakes available in the food & beverages industry in India, backed by the massive popularity of these beverages. The most popular flavors include vanilla, chocolate, and strawberry, among others, & can be topped with sweetened dry cereal, biscuits, toasted coconut, fresh fruits, marshmallows, clove, cinnamon, and dry cakes, among others, to enhance milkshake flavor.

Market Insights

The India Packaged Milkshake Market is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2022-27. The market is driven by the swift improvement in the economic conditions of the people, and the inclination toward healthy eating and food experimentation has escalated swiftly across the country over the years. As a result, the establishment of numerous food chains, cafes, restaurants, and local stores have escalated too and, in turn, has brought an expansive menu for beverages, including milkshakes. Observing the popularity & demand for these beverages, several companies are also providing packaged milkshakes, offering greater convenience to the customers and widening their reachability throughout the country.

Besides, the availability of variants like thick milkshakes prepared using commercial milkshake machines are among the most common types of milkshakes served in packages like bottles, pouches, & cartons. The growing demand for these shakes in their convenient packaging is contributing to the market growth through 2027. Additionally, an accelerated establishment of international milkshake brands and the growing inclination of the younger population, especially the millennials, toward these brands as a symbol of high status in society is also positively influencing the market growth across different metropolitan cities in India for convenient product distribution & brand visibility.

Moreover, increasing health consciousness among people & strategic advertisements with brand personification is the other factors stimulating the demand for packaged milkshakes & fueling the market growth. In fact, as the population of lactose intolerant & vegan population is growing across India, the demand for dairy-free, plant-based milkshakes is also booming, instigating the leading players to expand their product portfolio and consumer base. In the same line, several manufacturers are coming up with interactive advertisements with famous sportspersons, promoting their brands & milkshakes as healthy, thereby impelling the market growth.

Furthermore, the younger generation is among the prominent consumers of milkshakes and find packaged milkshakes a convenient way to consume healthy snack on the run. The massive working population is the other buyers of packaged products, including ready-to-drink (RTD) travel-friendly packaged milkshakes for the same reasons and to attain the nutritional requirements of the body amidst their hectic schedule.

Nonetheless, the active participation of prominent players in the market through the introduction of products is also contributing to substantial growth of the India Packaged Milkshake Market. For instance:

• The leading player, Amul, introduced its new range of milk & milkshake in beverage cartons provided by Tetra Pak. These packaged milkshakes are advertised as Tetra Packs catering to a useful carriage & long shelf-life of the product.

Market Segmentation

Based on the Flavor:

• Chocolate
• Mango
• Vanilla
• Strawberry
• Banana
• Almond

Here, Chocolate is anticipated to dominate the India Packaged Milkshake Market with the largest share during the forecast period. It owes principally to the inclination of children and younger populations toward chocolate-flavored products, including milkshakes. Besides, the easy availability of chocolate-flavored packaged milkshakes across different brands is also attracting a substantial consumer base.

Observing this rise in the demand for chocolate milkshakes, prominent players are further increasing their production capacities in the country and positively influencing the market growth in India. Additionally, innovation & food experimentation in different chocolate ice cream flavors, like Belgian chocolate, hazelnut, and others, are also exemplifying a vast demand for chocolate milkshakes.

Moreover, as chocolate is derived from natural ingredients like cocoa seeds, it is perceived as a natural product with a sweet aroma, playing a prominent role in driving its popularity among consumers. Furthermore, increasing health-consciousness among consumers has shown a paradigm shift in preference toward chocolate owing to its health benefits like heart health, which is also augmenting the Packaged Milkshake Market growth in India.

Based on the Distribution Channel:

• Online
• Retail Shops
• Hypermarkets/Supermarkets
• Dairy Shops

Here, the Online channel is anticipated to dominate the India Packaged Milkshake Market with the largest share during the forecast period. It owes principally to the growing government encouragement for digitalization, instigating the leading players in the market to make a paradigm shift to online platforms for the sales of packaged milkshakes.

Besides, with the growing penetration of the internet & smartphones, digital platforms are becoming a primary source for shopping among consumers, drawing a greater shift to online distribution channels. Owing to these factors, the leading companies are increasing their production & distribution capacities, expanding their product portfolio, and offering exciting deals and services like doorstep delivery to the customer. As a result, the sales of packaged milkshakes are rising across India and augmenting the Packaged Milkshake Market growth. 

Market Dynamics

Key Driver: An Escalation in the Consumption of Probiotic Drinks

As people are becoming increasingly health conscious, their inclination toward packaged milkshakes is escalating swiftly owing to the emergence of trends like consuming probiotic drinks rich in nutritional ingredients. It, in turn, is stimulating the demand for packaged milkshakes and augmenting the market growth. The same factor is also instigating the leading players to increase their production & distribution capacities and introduce new products with diverse nutritional value and expand the consumer base throughout the country. 

Possible Restraint: Presence of Regional Vendors Challenging Business Profitability in India

India is a diverse country with the presence of various regional vendors operating in local markets and catering to the needs of customers inclined to ward unpacked milkshakes instead of packed milkshake-like tetra packs. This aspect might restrain the fledged growth of the India Packaged Milkshake Market during the forecast period. Besides, despite being a preferred destination for the packaging industry, the lack of proper infrastructure might cause difficulties for the leading players to conduct business & retain in the market. Hence, such aspects might challenge the overall market growth in the coming years. 

Key Questions Answered in the Market Research Report:

1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the India Packaged Milkshake Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the India Packaged Milkshake Market?
4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the India Packaged Milkshake Market based on the competitive benchmarking matrix?
5. What are the key results derived from surveys conducted during the India Packaged Milkshake Market study?