A dry mix thickening system for preparation of a beverage product containing milk comprises a buffer, a hydrocolloid, and a chelating agent comprising tetrasodium pyrophosphate. When the dry mix thickening system is added to milk, viscosity builds within about 20 seconds to about 90 seconds to provide a thickened beverage product, without forming insoluble aggregates of the hydrocolloid. No heating is required. In addition, the only shear required to incorporate the dry mix thickening system into the milk is manual stirring.