Fresh milk sales are expected to see modest current value growth in 2021 due to the product’s maturity, but also the relatively strong sales seen in 2020 due to home seclusion, helped by the growing trend towards healthy lifestyles among consumers. People are becoming much more health-conscious, with the media also emphasising the nutritional benefits of milk, such as bone health and muscle growth, even before the pandemic.
Due to the growing healthy living trend, milk alternatives are continuing to see positive current value growth in 2021. The spread of COVID-19 has helped sales of these products as a result of increased health concerns.
Flavoured milk beverages was one of the few categories that had a weak performance due to the impact of the pandemic, with growth expected to remain in negative territory in volume terms in 2021. These products are mainly dependent on strong consumption outside of the home and were therefore negatively impacted by people staying indoors more.
As the concept of self-actualisation was unquestionably stimulated by the COVID-19 pandemic, it will remain a key focus area for many consumers over the forecast period as they look to maintain or boost both their physical and mental health. In this context, functional/fortified products should continue to develop in a post-pandemic world and these options should expand beyond drinking fresh milk.
In recent years, milk alternatives have become more and more visible, as a rapidly growing global trend. The category has been very popular among consumers, with a wide variety of brands and ingredients available, although sales are still concentrated among consumers on higher incomes.
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This report originates from Passport, our Drinking Milk Products research and analysis database.
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