According to TechSci Research report, “India Malted Food Drinks Market By Product Type, By Distribution Channel, Competition Forecast & Opportunities, 2013-2023”, India malted food drinks market is projected to surpass $ 1.76 billion by 2023. Malted food drinks are fortified with nutrition and used to enhance the taste of milk. Innovative product offerings such as Protinex Diabetes care, Junior Horlicks, etc., in addition to increasing disposable income and growing number of health-conscious people are expected to boost demand for malted food drinks in India during the forecast period. Growth in the market is also expected to be driven by increasing urbanization, changing lifestyle and increasing demand for convenience food items.
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Urban population share in India grew from 32.75% in 2015 to 33.14% in 2016, according to the World Bank. Rising young population base and growing demand for healthy malt-based food drinks is further anticipated to boost demand for malted food drinks in India during the forecast period. Malted food drinks with cocoa powder dominate the country’s malted food drinks market, on account of its higher consumption and popularity. Mounting media exposure such as ‘Tayari jeet ki’ campaign launched for chocolate flavored health drink Bournvita, brand endorsement by famous sportspersons like MS Dhoni, Sourav Ganguly and PV Sindhu endorsing brands like Boost, Complan, Ojasvita, respectively, increasing availability of innovative product options and flavors such as mixed fruit, elaichi, etc., are expected to further drive the consumption of malted food drinks in India over the next five years.
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Southern region is the largest demand generating region for malted food drinks in India, owing to higher awareness levels and increasing penetration in the region’s rural areas. Moreover, growth in the organized retail and e-commerce is significantly improving the visibility and availability of these products in the Indian market. “Malted food drinks market is very promising in India and is anticipated to witness healthy growth over the coming years. New flavors with fruits, nuts , etc., and attractive packaging are attracting consumers of all age groups towards malted food drinks. As consumers in the Indian market are becoming more concerned about ingredients and associated health benefits, manufacturers are focusing on maintaining transparency in labeling. Growing consumer preference for higher nutrients, low calorie and low sugar content is diverting malted food drinks manufacturers’ focus towards the production of innovative, nutritious malted food drinks to adverse the growing consumer demand in India.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Malted Food Drinks Market By Product Type, By Distribution Channel, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of malted food drinks market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India malted food drinks market.
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