Lactose-free milk and other milk alternatives are seeing increasing demand in 2021 due to more prominent public discussions about intolerances, allergies, and the negative effect traditional dairy products have on the environment. This popularity is being further encouraged by category product innovations and improved product availability.
Locally sourced products are continuing to gain popularity amongst consumers in Slovakia in 2021. The rising demand for domestic products and support for regional manufacturers has somewhat been investigated by the traumatic economic impact of the COVID-19 pandemic.
The more favourable VAT rates for milk have continued to make milk affordable for consumers despite the steadily rising commodity prices of raw milk throughout the latter half of 2020 and most of 2021. Friendlier taxation (at 10%) is giving milk an advantage over milk alternatives (such as soy drinks or almond milk) which will continue to be taxed at the full 20% VAT rate.
Flavoured milk drinks has seen continued rising popularity during the review period and is expected to continue developing during the forecast period. Given the on-the-go nature of such products, the category will benefit from increasing convenience demands as consumers return to pre-pandemic levels of activity and travel in the next few years.
Other milk alternatives is expected to remain the fastest growing category in drinking milk products over the forecast period. Such products will become increasingly embedded in consumer diets and health-prevention programmes.
Despite the expected modest decline of drinking milk products in 2021, volume growth is likely to remain static across the forecast period. Unit price growth will decelerate in the next 12 months as manufacturers attempt to stabilise their cost structures, but value growth is nonetheless anticipated to remain positive.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Slovakia 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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