Over the forecast period as a whole drinking milk products is expected to return to the performance seen over most of the review period, with a negative retail volume CAGR and a slow current value CAGR. Drinking milk products, and in particular milk, faces already high household penetration, a lack of true innovation (due in part to the tight regulation on dairy products), and an expanding ageing population less interested in beverages, including milk.
Growth in the next five years is expected to come from the super-premium segment, such as milk from grass-fed cows and A2 milk, and in the health and wellness segment, such as high-protein and organic drinking milk products. Ultrafiltered milk has already seen rising popularity, with Coca-Cola’s Fairlife and Saputo’s Joyya seeing rising sales as the filtering process increases the protein content and reduces the lactose.
In light of the limited growth potential in drinking milk products, major dairy manufacturers in Canada are seeking growth opportunities elsewhere. While plant-based dairy is a natural extension, snacking and nutritional supplements focusing on dairy protein were among the focus areas in the review period, and are likely to remain into the forecast period as well.
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Drinking Milk Products
This is the aggregation of flavoured milk drinks, milk and powder milk. Note: Plant-based drinking milk products should be excluded from this category and tracked under plant-based milk. Except for plant-based powder milk that should be tracked within the core dairy category of powder milk.See All of Our Definitions
This report originates from Passport, our Drinking Milk Products research and analysis database.
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