Drinking milk products is anticipated to see constant growth in retail volume and current value terms in 2021. Shelf stable milk visibly outperforms fresh milk in 2021.
Growth rates for goat milk in Serbia decelerated over the review period and the range and distribution of goat milk narrowed. Manufacturers continue to be discouraged by high production costs and the apparent unwillingness of consumers to pay a premium for a perceived healthier alternative to cow’s milk.
Imlek remains the undisputed leader of drinking milk products in retail value terms in 2021, despite another slight drop in value share. A small value share loss is not surprising, given the company’s dominance of the product area.
The sale of drinking milk products in Serbia is expected to continue to grow over the forecast period both in volume terms and constant retail value at 2021 prices, albeit at a slower rate than over the review period. Retail value sales growth at constant 2021 prices is likely to be highest for other milk alternatives, as these products are growing from a low base.
Growing from very low sales bases, other milk alternatives and soy drinks saw the best performances over the review period. These products are only finding their consumer base but are appealing to a lucrative demographic in young urbanites who are following the health and wellness trend.
The popularity and significance of small, local dairy products producers will continue to decline over the forecast period, bringing the value share of others down. These local dairy players have traditionally been important, but large, modern and multinational drinking milk producers are increasingly taking over their value shares.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Serbia 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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