After seeing many years of retail volume decline, drinking milk products returned to growth in 2020, and this is set to continue in 2021, along with dynamic current value growth. The strong performance in 2020 can partly be attributed to the closure of foodservice outlets and the resultant transfer of some of these sales to retail, along with more time spent in the home.
Milk alternatives is expected to maintain strong growth in 2021. However, performances are set to vary widely between the two categories.
The fragmented landscape of drinking milk products is set to continue to be led by Spanish retailer Mercadona in value terms in 2021, with its popular private label line Hacendado also expected to continue leading in terms of brand value share. Mercadona’s second position in the increasingly popular other milk alternatives category, with the company expected to account for a quarter of sales in 2021, will help the company maintain its value share in overall drinking milk products, despite its high exposure to categories witnessing slower growth, such as cow’s milk.
The retail volume growth seen by drinking milk products due to the COVID-19 pandemic and home seclusion in 2020 and 2021 is expected to be short-lived, with a return to decline in 2022 and for the rest of the forecast period. Over the early forecast period sales to foodservice are set to recover as vaccination is being rolled out and consumers are regaining their confidence in leaving the home.
Sales of cow’s milk are set to decline in the early years of the forecast period, in favour of other dairy milks (organic, functional, free from) and milk alternatives. Spaniards are paying more attention to their health, and these products are increasingly easy to find, available in every grocery store.
Other milk alternatives is set to continue to see the strongest retail volume and current value growth in the forecast period. With more consumers turning to healthier food options, and milk alternatives often seen as such, growth is expected to be maintained.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in Spain 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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