India Milkshake Market Report by Flavor (Vanilla, Strawberry, Chocolate, Banana, and Others), Packaging (Bottles, Pouches, Cartons, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Milk Parlours, Online Stores, and Oth

The Indian milkshake market size reached INR 7.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach INR 34.2 Billion by 2033, exhibiting a growth rate (CAGR) of 17.47% during 2025-2033.

A milkshake is a cold and blended dairy-based beverage prepared using milk, ice-creams, flavoring syrups and sugars. It is available in a wide variety of flavors, such as vanilla, chocolate and strawberry. Various toppings, including sweetened dry cereal, toasted coconut, marshmallows, biscuits, fresh fruits, cinnamon, clove and dry cakes, are added to enhance the flavor of the beverage. Certain cafes and restaurants also offer savory variants prepared using olive oil, sesame seeds and sea salt. Thick milkshakes are usually prepared using commercial milkshake machines in professional kitchens, which have specialized settings for blending speed to adjust the consistency of the shake. They are commonly served in bottles, pouches and cartons.

India Milkshake Market Trends:

Significant growth in the food and beverage industry is one of the key factors creating a positive outlook for the market in the country. Moreover, increasing private label offerings across India is providing a thrust to the market growth. International milkshake brands are also establishing their franchise outlets in metropolitan cities for convenient product distribution. In line with this, changing lifestyles and dietary patterns of the consumers are also contributing to the market growth. With the increasing number of shopping malls and recreational centers, there is a shifting preference among consumers, especially millennials, from carbonated drinks toward milkshakes as a healthier alternative. Additionally, various product innovations, such as the launch of packaged milkshakes in novel flavors and ready-to-drink (RTD) travel-friendly packaging solutions, are acting as other growth-inducing factors. Product manufacturers are also developing milkshakes with natural and organic ingredients with no preservatives and artificial sugars to attract a wider consumer base. Other factors, including rapid urbanization, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India milkshake market report, along with forecasts at the country and state level from 2025-2033. Our report has categorized the market based on flavor, packaging and distribution channel.

Breakup by State:

• Karnataka
• Maharashtra
• Tamil Nadu
• Delhi
• Gujarat
• Andhra Pradesh and Telangana
• Uttar Pradesh
• West Bengal
• Kerala
• Haryana
• Punjab
• Rajasthan
• Madhya Pradesh
• Bihar
• Orissa
• Others

Breakup by Flavor:

• Vanilla
• Strawberry
• Chocolate
• Banana
• Others

Breakup by Packaging:

• Bottles
• Pouches
• Cartons
• Others

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Milk Parlours
• Online Stores
• Others

Value Chain Analysis

Key Drivers and Challenges

Porters Five Forces Analysis

Government Regulations

Competitive Landscape

• Competitive Structure
• Key Player Profiles
• CavinKare
• Mother Dairy
• GCMMF
• KMF
• Hershey

This report provides a deep insight into the Indian milkshake market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for milkshake manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian milkshake market in any manner.

Key Questions Answered in This Report

1.What was the size of the India milkshake market in 2024?

2.What is the expected growth rate of the India milkshake market during 2025-2033?

3.What are the key factors driving the India milkshake market?

4.What has been the impact of COVID-19 on the India milkshake market?

5.What is the breakup of the India milkshake market based on the flavor?

6.What is the breakup of the India milkshake market based on the distribution channel?

7.What are the key regions in the India milkshake market?

8.Who are the key players/companies in the India milkshake market?
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