The global packaged milkshakes market size is expected to reach USD 365.0 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.3% over the forecast period. Growing health consciousness among young consumers, coupled with its essential nutritional content such as vitamin and protein, is expected to propel the market growth in the forecast period.
Based on packaging material, the paper segment dominated the market, accounting for 37.2% share of the overall revenue in 2018. Low packaging cost associated with it makes it favourable for the manufacturers. High demand for tetra packs has driven the market for paper as a packaging material. Apart from paper, the glass segment is expected to witness significant growth in the forecast period. The salient features including non-reactiveness of the product keep the milkshake safe for a longer life, thus fuelling the market demand for the segment.
Chocolate flavor accounted for the largest share of 39.2% in 2018. Health benefits associated with it makes it the most preferred flavor among the health conscious young consumer groups. Along with the health benefits, chocolate flavor milkshake is widely accepted by the younger age groups, which is expected to drive the segment in the forecast period.
Asia Pacific led the industry for packaged milkshake and accounted for 32.0% share of the global revenue. China is found to be the fastest growing market in APAC with a CAGR of 6.4% in the forecast period. Presence of leading market players, along with interactive advertisements, has led to the market growth in the region. Apart from APAC, MEA is found to be the fastest growing region due to hot and humid climatic conditions and growing corporate sector in countries such as Dubai.
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Further key findings from the report suggests:
- In terms of revenue, chocolate flavor led the packaged milkshakes market and accounted for the largest share of 39.2% in 2018
- Paper is among the most preferred packaging materials and it accounted for 37.2% share of the global revenue in 2018
- MEA is the fastest growing region for packaged milkshake and is expected to expand at a CAGR of 7.2% due to rapid urbanization and growing commercial sector.