Drinking milk products in Finland received a boost in retail sales in 2020 as consumers cooked and ate at home during the COVID-19 pandemic. While some normalisation is expected to take place in 2021, cooking and eating at home is expected to stay above pre-pandemic levels to a certain extent.
Ethical concerns continue to guide consumers purchasing decisions, and in turn more and more producers are trying to meet these new demands. For example, domestic player Satamaito started marketing its products as being made from dairy that comes from “free cows”.
The economic fallout of COVID-19 is expected to continue boosting the sales of more affordably priced private label offerings. Indeed, the leading players have been seeing value share erosion over the review period due to various private label players, which have focused on offering competitively priced milk, increasingly of a domestic origin.
Over the forecast period, drinking milk products is set to see continued stagnation in retail volume terms, with moderate growth in current value terms. A hurdle to growth will be the fact that drinking milk products faces heavy maturity in Finland.
Notably, the free from dairy revolution is expected to carry on in Finland, with more and more consumers expected to switch from fresh milk to milk alternatives. Indeed, milk alternatives and other milk alternatives are set to post the fastest CAGRs in the forecast period.
Tackling environmental concerns is becoming the new norm in the Finnish dairy industry. For example, local player, Juustoportti markets its cow’s milk as carbon neutral.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Finland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Drinking Milk Products research and analysis database.
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