Surging Flavored Milk Consumption in East Europe: Ken Research
Ken Research announced its latest publication on, “Flavored Milk Consumption Volume and Growth Forecast to 2021-East Europe”, offering insights on Flavored Milk consumption in the East Europe Market. The publication includes an insightful analysis into the operating environment for the Flavored Milk market in East Europe. The countries covered in this report includes Belarus, Bosnia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovak Republic, Slovenia, Turkey, and Ukraine.
Overview of the Flavored Milk Market in East Europe
Flavored milk is a dairy drink produced with milk, sugar, colorings, and additional flavor and sweetener. It offers some vital nutrients such as calcium, potassium, protein, phosphorus, vitamins A, D and B12, niacin and riboflavin. The flavored milk is generally available in different flavors such as strawberry, chocolate and vanilla flavors in fat free and low fat ranges.
The East Europe Flavored Milk industry is at a promising stage as the consumption is still low as compared to other drinks such as carbonated soft drinks. Upbeat consumer perceptions about the various health benefits of milk are creating prospects for flavored drinks consumption across the World. This will escalate the overall flavored milk market in Eastern Europe as well as globally.
Key Driving Factors inEast Europe Flavored Milk Market
A large number of factors are contributing to the growth of the flavoured milk market in east Europe. Rising health consciousness and aspiration for nutritious and healthy food, changing lifestyle along with the change in consumer’s taste and preferences are strengthening the growth of Global Flavored Milk industry. Besides this, consumer’s unscheduled eating habits due to busy working schedule are also fostering the demand for flavored milk in different parts of the world.
Moreover, ready-to-drink flavoured milk segment represents a very convenient options where there are no hassles to boil, add external ingredients or serve this milk. Further, the advent of single-serve, resealable plastic bottles or tetra packs have made this category of milk more convenient for consumers to drink. Apart from the convenience factor, the flavoured milk market driven by the increasing consumption from health and wellness segment where consumers are shifting to natural and nutritious drink. Also, consumers seeking “indulgent” eating and drinking experiences as a way of escaping the daily grind during times of economic uncertainty is another factor to boost demand for the flavoured milk market.
Future of the Flavored Milk Market in East Europe
- The consumption of drinking milk products is expected to increase in the forecast period. In value terms, drinking milk products is set to see a CAGR of 2% at constant 2015 prices. Drinking milk products will remain highly popular amongst Russians. Such products are perceived as essential, whilst milk is truly essential and traditional for Russian consumers.
- Czech consumers are considered to be price-sensitive. Therefore, price will remain a decisive factor in the consumer purchasing decision over the forecast period. Nevertheless, it is projected that increasing awareness of the health benefits of drinking milk products, resulting from the extensive promotional efforts of companies, associations and public institutions, will positively influence consumption between 2016 and 2020.
- A decreased VAT rate to 9% for food products in Romania is expected to lead to a positive development for drinking milk products, and overall because of the improving standards of living in a stable economic development. Even so, the category will remain under the influence of the domestic habits of purchasing and consumption, where the own consumption in rural areas and the supply of local farmers which in most cases is not reported will continue to account for an important consumption share.
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Ankur Gupta, Head Marketing & Communications