India malted food drinks market is projected to reach $ 1.76 billion by 2023 - TechSci Research

India Malted Food Drinks Market

By Product Type, By Distribution Channel, Competition Forecast & Opportunities, 2013 – 2023

Published: June, 2018

Market Intelligence . Consulting

Ta b l e o f C o n t e n t s

India Malted Food Drinks Market Forecast & Opportunities, 2013-2023

S. No.

Contents

1.

Introduction & Product Classification

2.

Research Methodology

3.

Executive Summary

4.

Voice of Customer 4.1.

Unaided Brand Awareness

4.2.

Aided Brand Awareness

4.3.

Key Factors Influencing Purchase Decision

4.4.

Quantity of Purchase Every Month

4.5.

Packaging Preference

4.6.

Flavor Preference

5.

Global Malted Food Drinks Market Overview

6.

India Malted Food Drinks Market Outlook 6.1.

Market Size & Forecast 6.1.1.

6.2.

6.3.

By Value & Volume

Market Share & Forecast 6.2.1.

By Product Type (With Cocoa Powder vs Without Cocoa Powder)

6.2.2.

By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Independent Small Grocers, Online Channel & Pharmacies)

6.2.3.

By Region (North, South, East & West)

6.2.4.

By Company

6.2.5.

Brand Portfolio

Market Attractiveness Index 6.3.1.

2

By Product Type Š TechSci Research

Ta b l e o f C o n t e n t s S. No.

7.

Contents 6.3.2.

By Distribution Channel

6.3.3.

By Region

India Malted Food Drinks With Cocoa Powder Market Outlook 7.1.

Market Size & Forecast

India Malted Food Drinks Market Forecast & Opportunities, 2013-2023

7.1.1.

7.2.

Market Share & Forecast 7.2.1.

7.3.

8.

By Distribution Channel

Pricing Analysis

India Malted Food Drinks Without Cocoa Powder Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

8.3.

By Value & Volume

Market Share & Forecast 8.2.1.

9.

By Value & Volume

By Distribution Channel

Pricing Analysis

Supply Chain Analysis

10.

Import Export Analysis

11.

Market Dynamics 11.1.

Drivers

12.2.

Challenges

12.

Market Trends & Developments

13.

Policy & Regulatory Landscape

14.

India Economic Profile

3 Š TechSci Research

Ta b l e o f C o n t e n t s S. No.

India Malted Food Drinks Market Forecast & Opportunities, 2013-2023

15.

Contents Competitive Landscape 15.1.

Competition Outlook

15.2.

Company Profiles 15.2.1.

GlaxoSmithKline Consumer Healthcare Ltd.

15.2.2.

Mondelez India Foods Private Limited

15.2.3.

Kraft Heinz India Private Limited

15.2.4.

Nutricia International Pvt. Ltd.

15.2.5.

Abbott Healthcare Pvt Ltd

15.2.6.

NestlĂŠ India Limited

15.2.7.

Gujarat Cooperative Milk Marketing Federation Ltd.

15.2.8.

Patanjali Ayurved Limited

15.2.9.

Continental Milkose (India) Ltd.

15.2.10.

Sri Sri Tattva

16.

Strategic Recommendations

17.

About Us & Disclaimer

4 Š TechSci Research

Introduction & Product Classification Malted Food Drinks Malt has always been a part of the diet of growing children and the elderly as a nutritious supplement. Malt is used as

a dietary supplement in a low-protein diet as it contains more than 30 essential minerals, elements and vitamins including folic acid which is important for pregnant women and the fetus. In India, malted food drinks are also called health drinks as they are fortified with nutrition and used to enhance the taste of milk. Malt is germinated cereal grains. Malted Food Drinks (MFDs) are largely consumed for taste enhancement, which is why certain flavors like chocolate or kesar badam, etc., are sold in the Indian market.

• Malted Food Drinks With Cocoa Powder

• Malted Food Drinks Without Cocoa Powder

Introduction & Product Classification

Two Types of Malted Food Drinks

1. Help in Recovering From Illness 2. Provide the Right Dose of Protein 3. Help Build Bones 4. Provide Energy 5. Improve Skin Health and Vision

Benefits Of Malted Food Drinks

6. Help in Transporting Nutrients 7. Helps in Thyroid Hormone Production 8. Fortify Blood 9. Good for Pregnant Women 10. Help Insomniacs

5 © TechSci Research

Research Methodology

Information regarding India malted food drinks market was gathered through primary research

All the collected information was then validated through multiple sources and data warehouses in

surveys across various

order to present the

manufacturers,

most accurate and

distributors and

precise market

retailers in the country, followed by exhaustive secondary

information about India malted food drinks market.

Various aspects of the

The analyzed

market were

information was then

comprehensively

presented in

monitored and

chronological order to

analyzed by the team

depict a meaningful

of industry experts.

and clear picture of

TechSci Research

India malted food

identified and analyzed

drinks market.

the emerging trends, drivers and challenges in the market.

research.

Research Methodology

Research

Evaluation & Validation

Analysis

Presentation

6 Š TechSci Research

Research Methodology

Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India malted food drinks market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rise in population, increasing disposable income, change in lifestyle and growing health concerns. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India malted food drinks market.

Methodology Followed for Calculation of Market Size: Market Size by Value: Market size, in terms of value, for the year 2017 was calculated based on the information collected

through

exhaustive

secondary

research

and

primary

surveys,

across

various

key

opinion

leaders/stakeholders such as malted food drink manufacturers, distributors and retailers.

Research Methodology

The team interviewed more than 10 malted food drink manufacturers/suppliers, 80 distributors/retailers and 10

industry experts to obtain the overall market size, following the Delphi technique for the years 2013 to 2017.

Taking standard deviation into consideration, the market size figures were averaged out, to arrive at the market size figures for the years 2013 to 2017.

7 Š TechSci Research

Research Methodology

Respondents were asked about the current and future market and their growth rates and market shares by product type and regions. Removing the outlier responses, the geometric mean of the growth estimates and product wise revenue shares generated across various segments were considered to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the type of malted food drinks.

Methodology Followed for Calculation of Market Shares:

Market shares by product type, by distribution channel, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about market share or revenue generated from various segments. The final shares were calculated by taking the

Research Methodology

geometric mean of the responses gathered from key opinion leaders, after eliminating the outliers.

Methodology Followed for Forecasting:

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software.

8 Š TechSci Research

Research Methodology

Data triangulation techniques were applied to fill the gaps and to present the more meaningful picture of the market. To forecast India malted food drinks market, TechSci Research used various forecast techniques such as: o

Moving Average

o

Time Series Analysis

o

Regression Analysis

o

Econometric and Judgmental Analysis

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to arrive at accurate market numbers.

Research Methodology

Partial List of Companies Interviewed

Mondelez India Foods Private Limited, Abbott Healthcare Pvt Ltd, Nutricia International Pvt. Ltd., GlaxoSmithKline Consumer Healthcare Ltd., Kraft Heinz India Private Limited, Patanjali Ayurved Limited, Nestle India Limited, Gujarat Cooperative Milk Marketing Federation Ltd., Continental Milkose (India) Ltd., Sri Sri Tattva, Zydus Wellness Ltd., Twinings Private Limited, etc.

Companies’ Annual Reports, World Bank, Press Releases, Industry Magazines,

Secondary Sources

Industry Reports, News Dailies, Credible Paid Databases, Proprietary Databases, Ministry of Corporate Affairs, Directorate General of Foreign Trade, International Monetary Fund, Ministry of Statistics and Programme Implementation, etc.

9 Š TechSci Research

Industry Brief

Southern Region to Lead India Malted Food Drinks Market until 2023 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.

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.

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.

10 © TechSci Research

Sample Data-Snapshot Unaided

Brand

Awareness

Figure 13: India Malted Food Drinks With Cocoa Powder Market

Quantity of Purchase Every Month (N=X)

Size, By Value (USD Million), By Volume (Million Kgs), 2013–2023F

(N=X)

Complan Bournvita

CAGR 20132017

CAGR 2018E2023F

By Value: X%

By Volume: X%

By Value: X%

By Volume: X%

5011000gms, 10%

More than 3000 gms,…

201-500 gms, 10%

Boost

100 gms or less, 10%

Horlicks Protinex 2013

PediaSure

2014

2015

2016

2017

2018E 2019F 2020F 2021F 2022F 2023F

By Value (USD Million)

By Volume (Million Kgs)

Channel, By Value, 2013–2023F

Choco Malt

1001-3000 gms, 10%

101-200 gms, 10%

Figure 5: India Malted Food Drinks Market Share, By Distribution

Amul PRO

Figure 19: India Malt Extracts Export, By

60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00% 60.00%

Nestlé Milo

Value, 2014-2018 (USD Million)

Ojasvita Powervita Key Factors Influencing Purchase

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

10.00% 10.00% 10.00% 10.00%

2013

2014

2015

2016

2017

2018E

2019F

2020F

2021F

2022F

2023F

Decision (N=X) Health Benefits

Independent Small Grocers Supermarkets/Hypermarkets Online

Price Quantity

2014

Pharmacies Convenience Stores

Figure 24: India Malted Food Drinks Import, By Value, 2014-2018 (USD Million)

Figure

12:

India

Malted

2015

2016

Food

2017

Drinks

2018

Market

Attractiveness Index, By Region, By Value, 2018E-2023F 10.00%

Taste

9.00% 8.00%

Brand Value

West

7.00%

Flavor

6.00%

Nutrient Content Recommendation

East

5.00% 4.00%

2014

2015

2016

2017

Packaging Source: XXXXX Note: These are dummy figures; please purchase our report for actual data

2018

South

3.00% 2.00%

North

11

1.00% 0.00% 0.00

1.00

2.00

3.00

4.00

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecast, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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