Packaged Milkshakes Market Size, Share & Trends Analysis Report By Packaging Material (Paper, Tin, Glass, Plastic), By Flavor (Chocolate, Vanilla, Strawberry, Others), By Region, And Segment Forecasts, 2024 - 2030

Packaged Milkshakes Market Size & Trends

The global packaged milkshakes market size was valued at USD 265.1 million in 2023 and is projected to grow at a CAGR of 7.3% from 2024 to 2030. The growth of this market is primarily driven by increasing inclination towards consumption of packaged food and beverages, availability of multiple flavors and packaging sizes, ease of use and convenience offered by the product, and enhanced accessibility.

Rising health consciousness among consumers has increased demand for packaged food and beverages. Companies operating in this market have incorporated multiple packaging materials, sizes, and attractive packaging designs to enhance customer experience through convenience and ease of use. In addition, concentration on effective offline distribution by the key brands has contributed to the growth of this market in recent years.

Technology and innovation have changed numerous industry scenarios, and the packaged milkshake market is no exception. Innovation in flavors, including naturally sourced ingredients, formulation of novel tastes, and the emergence of organic, vegan, and other versions aligned with consumer behavior trends related to the food and beverages industry are influencing the demand for this market. For instance, Cadbury chocolate milkshakes offered by Müller UK & Ireland are available in two different varieties, including Cadbury creamy chocolate caramel milkshake and Cadbury creamy chocolate milkshake. Trends such as ‘meal replacements’ also contribute to the growing demand for the packaged milkshakes market.

Packaging Material Insights

Based on packaging materials, the plastic segment dominated the global market and accounted for a revenue share of 34.9% in 2023. Consumers prefer plastic packaging plastic for various factors, including convenience, availability, ease of use, and more. Packaged milkshakes sold in plastic bottles are easy to distribute through multiple channels and point-of-sale networks, making them a preferred choice by manufacturing and marketing organizations. In addition, the availability of material plays a vital role in its growing use.

The tin segment is expected to experience a noteworthy CAGR during the forecast period. Retailers and manufacturing businesses highly prefer tin packaging owing to its stable preservation capabilities. Using lightweight aluminum tins enables effective protection from light and oxygen while preserving the products' flavor, freshness, and nutrient content.

Flavor Insights

The chocolate flavor segment held the largest packaged milkshakes industry revenue share in 2023. The flavor's lasting popularity among customers of different age groups has contributed to its growing demand. In addition, innovation by companies, including consumer preferences in terms of flavor varieties, commercialized value additions, and fusion recipes, have increased demand for this segment. For instance, THE HERSHEY COMPANY offers Chocolate flavored milkshake made with regular milk solids and provides plant-based almond drinks and plant-based soya drinks in chocolate flavors too.

The strawberry-flavored milkshakes segment is anticipated to grow at a significant CAGR from 2024 to 2030. The particular flavor belongs to the fruit-based category, unlike Chocolate or vanilla, which is preferred by a large group of consumers who like the fruit-based tastes in beverages. The availability of various forms of packaging, including plastic, tins, and tetra packs, popularity among numerous age groups, and ease of availability through supermarkets, grocery stores, online grocery delivery applications, and others are fueling the growth of this segment.

Regional Insights

Asia Pacific packaged milkshake market dominated the global industry and accounted for a revenue share of 32.3% in 2023. The growing disposable income levels in countries such as India, China, and others, the presence of large distribution networks established by multiple brands, the increasing availability of numerous brand products originally developed by multinational brands yet manufactured and marketed through region-based subsidiaries, and ease of accessibility are some of the key growth drivers for this market.

China Packaged Milkshakes Market Trends

China packaged milkshakes market held significant revenue share of the regional industry in 2023. This is attributed to the vast distribution network, effective strategies for branding, marketing and advertising, inclusion of approved health enhancement ingredients and fusion flavors, and the addition of locally preferred formulations in portfolios. Availability driven by food delivery and grocery delivery application, growing preference for packaged beverages over freshly served, and ease of accessibility are expected to develop upsurge in demand for this market.

Europe Packaged Milkshakes Market Trends

Europe is identified as a significant region for the global packaged milkshake market in 2023. Adding organic and vegan versions of products to portfolios, effective distribution strategies, diversified offerings, and availability through multiple channels are driving growth for this market. The entry of multiple multinational brands and market penetration through strategic retail tie-ups are projected to fuel the growth of this market.

Germany packaged milkshakes market is anticipated to grow substantially during forecast period. This is primarily driven by increasing demand for convenience and ready-to-drink products in the country, flavor innovations offered by the key participants, and the presence of a robust dairy industry in Europe. Effective branding campaigns followed by vast distribution are assisting this market in growth.

North America Packaged Milkshakes Market Trends

North America packaged milkshakes market held noteworthy share of the global industry in 2023. This market is mainly influenced by factors such as the rising availability of multiple products in the region, the presence of numerous applauded brands in North America, well-organized distribution channels, including online and offline distributors across various countries, and existing consumption coupled with health-consciousness-driven demand.

U.S. Packaged Milkshakes Market Trends

The U.S. packaged milkshake market is expected to experience lucrative growth during the forecast period. The availability of numerous branded products, the presence of various brands in the country, the popularity of ready-to-drink products, and the demand for soy-based, almond-based drinks by young consumers are expected to drive growth in this market from 2024 to 2030.

Middle East And Africa Packaged Milkshakes Market Trends

The Middle East & Africa packaged milkshakes market is expected to experience the fastest CAGR of 8.2% during the forecast period. This is attributed to the region's consumption trends associated with dairy and dairy-based products. Additionally, factors such as fast-paced lifestyles, climatic conditions of the area, growing awareness regarding health and wellness, and flavor innovation offered by the key market participants are further fueling regional growth. The availability of single-serving container products, easy-to-carry packaging designs, and a range of flavors, including organic products, are anticipated to fuel demand for this market.

Turkey packaged milkshakes market held significant revenue share of the regional industry in 2023. This market is primarily influenced by the country's popularity of ready-to-drink products. The availability of online platforms offering a range of packaged milkshakes, including flavored, probiotic, protein, and fruit flavors, adds to the growth opportunities for this market. The inclusion of local favorites such as Lokum or Turkish Delight in the portfolio by key players also influences the growth of this market.

Key Packaged Milkshakes Company Insights

Some of the key companies involved in the global packaged milkshakes industry are THE HERSHEY COMPANY, Nestle, DANONE, Müller UK & Ireland, and others. To address growing competition, companies are adopting strategies such as new product launches, geographical expansion, retail collaborations, innovation, data collection, and analysis for aligning with consumer preferences and more.

• Müller UK & Ireland, one of the prominent companies in the U.K. dairy industry and other operational areas of distribution, sources milk from nearly 1300 farmers to deliver a diverse portfolio consisting of milk, butter, packaged milkshakes, and more. Its brand, Müller FRijj, offers packaged milkshakes in flavors such as strawberry, banana, chocolate, fudge brownie, and cookie dough.

• THE HERSHEY COMPANY, an applauded brand from the confectionary industry in the U.S. with a global retail footprint, offers a range of products, including chocolate & candy, snacks, gifts, merchandise, plant-based products, flavored milkshakes, and more.

Recent Developments

• In January 2024, Muller UK & Ireland, a key dairy and dairy product industry organization, introduced two Cadbury Creamy Chocolate milkshakes by expanding its Cadbury license into the packaged milkshakes category. The products were launched into Sainsbury’s to attain greater customer engagement.

Packaged Milkshakes Market Report Scope

Global Packaged Milkshakes Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the packaged milkshakes market report based on packaged material, flavor, and region.

• Packaging Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Paper

  • Tin

  • Glass

  • Plastic

• Flavor Outlook (Revenue, USD Million, 2018 - 2030)

  • Chocolate

  • Vanilla

  • Strawberry

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa

    • UAE

    • Saudi Arabia

    • South Africa

    • Turkey