A milkshake is a blended beverage made of milk, ice cream, and other additional flavors. Consumers that fall under the Millennial or GenZ category are the major consumers of milkshakes. With the growing urbanization and deskbound lifestyle, the milkshake segment is convenient and highly demanded. Also, the advent of disposable tetrahedral plastic bottles, single-serve packaging made it easier for consumers in this category to consume milk and send it to distributors. The global milkshakes market is also driven by a consumer trend towards the health and wellness segment, with more and more consumers moving from carbonated drinks to healthier alternatives, such as dairy products.
The growing number of new product launches is one of the main trends that have been gaining space in the global market. The main participants in the milkshake market across the globe are focusing on increasing the number of product launches, which will strengthen their position and sustain their dominance in the market. Milkshake makers are developing innovative strategies to increase market share for these products. Also, due to various technical innovations developed by the manufacturer, the forecast for the global milkshakes market is increasing aggressively.
For instance, Hershey’s introduced Vampire Kisses milkshakes on the occasion of Halloween. The new launch comes with Hershey’s milk chocolate and strawberry topped in the center.
The global milkshakes market is segmented based on type, application, and region. The type segment is classified into chocolate flavored, almond, strawberry flavored, vanilla flavored, and other nuts flavored. Further, based on application, the global market is also diversified into hypermarkets, convenience stores, supermarkets, and others.
Considering the regional performance of the global milkshakes market, the Asia Pacific market has been strong in this segment and it is anticipated to withhold its position in the coming period. The Middle East and Africa are poised to show considerable growth trends considering the climatic conditions and presence of milkshake manufacturers in the region.
Fierce competition to gain the dominating position in the market has led manufacturers to leverage effective product launches along with exclusive flavors. However, to increase their reach to consumers, key players are now more emphasized on marketing campaigns that can bring new customers on board. These key factors are expected to boost the global milkshakes market growth in the coming period. The global milkshakes market is mainly driven by some of the leading industry players such as DANONE, Dean Foods, CavinKare Group, Nestle, THE HERSHEY, Muller UK & Ireland, and FrieslandCampina among others.