Chocolate Malt Drink Market Overview:
The Chocolate Malt Drink Market size is expected to grow from USD 2.59 billion in 2022 to USD 4.17 billion by 2030, at a CAGR of 6.12 % during the forecast period.
Chocolate malt is a sweet variation of traditional malt powder, offering a rich, caramel-like flavor similar to dark chocolate. It is made from roasted wheat, barley, and evaporated milk, and is widely available in larger supermarkets at an affordable price. While it doesn’t have the same level of sweetness as regular chocolate made from cocoa beans and sugar, it shares some flavor characteristics. Chocolate malt adds intriguing depth and a hint of bitterness to food, and it can be used to enhance vanilla milkshakes, creating a delightful and easy-to-make treat reminiscent of a beloved milkshake with added complexity.
Top Key Players for Chocolate Malt Drink Market:
Nestle (U.S.), Smart Tasty industry (Malaysia), Mondelez International (U.S.), GlaxoSmithKline plc (UK), Deluxe Rich Sdn (Malaysia), The Kraft Heinz Company (U.S.), Hindustan Unilever (India), Anheuser- Busch Companies (U.S.), Heineken (Netherland), The Drink Ink (U.S.), Cadbury (U.K), Wander AG (Switzerland), Amul (India) and Other Major Players.
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The report summarizes all the information collected and serves the customer’s requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Chocolate Malt Drink Market:
Drivers:
Chocolate Malted Milk Powder Boost Calories and Nutrients
Chocolate malted milk powder is a heart-healthy mix that offers various nutritional benefits. It contains fiber, potassium, folate, and vitamin B6, which work together to lower cholesterol and reduce the risk of cardiac disease. The dietary fiber in malt helps decrease insulin activity and promotes cholesterol breakdown. Originally developed as a nutritional supplement for toddlers, chocolate is added to make it more appealing to them, and the flavor is enjoyed by both toddlers and adults. The powder is made from a combination of malted barley, a touch of chocolate, milk powder, and wheat flour. Besides its delightful taste, malted milk aids in quick recovery from illnesses induces sleep, and promotes relaxation.
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Opportunities:
Opportunity for New Market Players to Enter the Market
The market for chocolate malt drinks offers numerous opportunities for new players to enter and thrive. The raw material required is affordable and readily available, providing a key advantage for generating revenue. Growing demand among both toddlers and adults has led to an increase in manufacturers producing the product. The rising popularity of chocolate-malted drinks as breakfast or evening beverages further fuels this trend. Additionally, robust economic development and disposable income encourage consumers to spend on highly nutritious drinks with flavorful options for their children. As the demand for such drinks continues to rise, new market players have ample opportunities to capitalize on this trend.
Segmentation Analysis of the Chocolate Malt Drink Market:
By Packaging Type, the Bottles and Jars segment is Anticipated to Dominate the Market Over the Forecast period. Chocolate Malt Drink mostly comes in packaged bottles and jars. They are easily available in online stores and retailers’ shops.
By Distribution Channels, supermarkets, and hypermarkets dominate the chocolate malt drink market distribution channel. Firstly, these retail outlets have a wide geographic presence, making the products easily accessible to a large number of consumers.
By Packaging Type
- Bottles & Jars
- Cartons
- Others
By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
Regional Analysis of the Chocolate Malt Drink Market:
Asia Pacific is emerging as the dominant market for chocolate malt drinks, with a substantial increase in demand expected over the forecast period. Milo, a popular brand from Malaysia, holds a remarkable 90% market share in the country and is highly favored across South Asia. The rise in population in China and India has contributed to the growing demand for these convenient and nutritious chocolate-flavored beverages, catering to both toddlers and adults. As the region’s industries develop, people’s busy lifestyles drive the need for easily accessible snacks, leading to an increased demand for chocolate malt drinks to maintain health and manage stress.
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In September 2022, Coca-Cola Beverages Africa launches the Choco Malt drink in Ghana. Voltic Ltd, Coca-Cola Beverages Africa’s (CCBA) Ghana subsidiary, has launched Hollandia’s Choco Malt brand in Ghana. The brand was first launched in Nigeria in 2017 by Coca-Cola subsidiary Chi Ltd.
In February 2019, Fast Moving Consumer Group (FMCG) firm, Chellarams extended its real active product line with the introduction of Real Activ Malted food drink amidst promises of becoming a market leader in the chocolate food drink category.
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