Coca-Cola Amatil's decision to enter the $300 million flavoured milk market with a product that uses the Goulburn Valley canned fruit and fruit juice brand has surprised rival beverage marketers.

The flavors include Fruit Loot, Frozen Flakes and Cocoa Loco. All contain a cereal milk ice cream with a cereal swirl. You can guess which ice cream tastes like the classic cereal.