Key vendors to invest in R&D for the development of new, innovative products
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global flavored milk market in their latest research report. This report also lists nine other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from the retail sales of flavored milk products to individual consumers.
This Technavio report, under the non-alcoholic beverages vertical, is based on the synthesis, analysis, and interpretation of information about the global flavored milk market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for flavored milk is dynamic in nature due to the presence of a large number of regional as well as international players. Vendors in the market are developing innovative products and investing heavily in research and development to keep pace with the competitive in the market. Vendors also attempt to expand their consumer based and gain market shares by launching new products that cater to changing consumer demands.
“Vendors are expanding their flavor portfolio by releasing new flavors of the products to keep the interest of consumers alive in the market. In March 2016, Prairie Dairy Farms launched two new flavors for its Peeps flavored milk. The two new flavors offered by the vendor are strawberry créme and orange créme. The launch of such innovative products helps vendors create brand awareness and attract new customers,” says Manjunath Reddy, a lead analyst at Technavio for non-alcoholic beverages.
Top five vendors in the flavored milk market space
China Mengniu Dairy
China Mengniu Dairy Company, along with its subsidiaries, engages in the manufacture and distribution of quality dairy products. Some of the company’s subsidiaries include China Dairy Holdings, Hubei Frealth Dairy, Inner Mongolia Mengniu Danone Dairy, Mengniu Dairy Product, and Newou Hong Kong International Trading. The company was ranked 11th in the Global Dairy Top 20 by Rabobank in 2015. The company is also a leading brand in the dairy segment of the market in China.
Key products: Pure Milk series, Milk Deluxe series, Xin Yang Dao series, Just Yogurt, Champion series, Future Star series, and Minion Banana Milk.
Danone
Danone is a global food processing company that is involved in the production, marketing, and sales of a variety of food products under several subsidiaries. Some of the key subsidiaries of the company include Actimel, Activia, Fantasia, Danacol, Densia, Danette, Danissimo, YoCrunch, Danonino, and Vitalinea. During 2015, Danone reported sales worth almost $25 million.
Key products: Aqua, Evian, Bonafont, Dumex, Bledina, SGM, Danonino, and Oikos.
GCMMF
Gujarat Cooperative Milk Marketing Federation (GCMMF) produces and markets food products in India under the brand name Amul. The company is the largest food products marketing organization in India. The company operates franchise retail parlors in Ahmedabad, Baroda, Surat, Delhi, Mumbai, Bangalore, and Hyderabad. It sells its products through dairy and ice-cream distributors and online. In FY2015, the company reported a revenue of more than $3 billion.
Key products: Amul Calci, Amul Slim Trim Milk, Amul Kool Flavoured Milk, Amul Kool KoKo, and Amul Kool Café.
Inner Mongolia Yili Industrial Group
Inner Mongolia Yili Industrial Group is a producer of milk feedstuffs and dairy products. The company engages in the processing and manufacturing milk products such as milk powder, ice creams, and fresh milk. In February 2014, the company established a new R&D center with the Wageningen University for development in food offerings.
Key products: Wei Ke Zi MilkShake (available in banana, papaya, and chocolate) and ShuHua milk (available in low fat and lactoferrin).
Nestlé
Nestlé, along with its subsidiaries, produces and sells food and beverages globally. The company operates in 197 countries. The company’s products are sold products are sold in various retail and online stores such as Safeway, SUPERAMERICA, Albertsons, Plaid Pantry, and Walmart, and places like Pizza Hut, Yum Yum, Taco John’s, and Disney Park. Nestlé reported net revenues of more than $99 billion in FY2013 and more than $100 billion in FY2014.
Key products: Lowfat Banana Strawberry, Lowfat Vanilla, Fat-Free Chocolate, Lowfat Chocolate (No Sugar Added), Lowfat Double Chocolate, and Lowfat Chocolate.
Other prominent vendors in this market include Bremed, EmsiG, iHealth, Jawon, KERN, Marsden, Mediagate, Medisana, Microlife, Qardio, and Withings.
A more detailed analysis is available in the Technavio report, Global Flavored Milk Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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