The ‘Global Dairy Snack Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global dairy snack market, assessing the market on the basis of its segments like type, distribution channel, and major regions.
Dairy Snack Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.6%
With changing lifestyles and rapid urbanisation, the demand for healthy as well as fast on-the-go snack options has increased, driving the dairy snack market growth across the globe. The increasing consumption of smaller meals along with ready-to-eat milk products is likely to increase dairy snack product sales worldwide.The growing worldwide population and rising disposable incomes are further driving the market growth due to shifting preferences of consumers toward high-value products and changing dietary patterns.
The surging awareness amongst consumers regarding the significance of adopting a healthy lifestyle is influencing the demand for dairy snacks such as probiotic drinks.Moreover, with the increase in the popularity of protein-enriched food and beverages, there is a surge in the consciousness amongst consumers to become more aware of health benefits of a dairy-rich diet. This is further expected to fuel the dairy snack market growth over the coming years.
The growing prevalence of chronic diseases, lifestyle diseases, and other infectious diseases is likely to increase the usage of milk-related products. Such products aid in defending against various infectious and chronic diseases, and the health benefits are likely to fuel market growth.
Dairy Snack Industry Definition and Major Segments
Dairy snacks refer to small meals that are mainly produced from milk such as yogurts, cheese, and ice cream. From a cube of cheese or a swig of milk, dairy snacking has evolved substantially over the years.
Dairy processors are developing snack products that are packed in a way that supports the interests and demands of consumers in the current era to conveniently meet their needs and cravings.
On the basis of type, the market can be segmented into:
- Spoonable Yoghurt
- Drinkable Yoghurt
• Ice cream
Based on distribution channel, the dairy snack market can be divided into:
• Supermarkets and Hypermarkets
• Speciality Stores
• Convenience Stores
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Middle East and Africa
Dairy Snack Market Trends
The surging innovations in the food and beverage industry are driving down the production costs. Lower production costs along with the involvement of additional advantages like providing both nutrition and flavour, are expected to fuel the market growth during the forecast period.
Good nutrition plays an essential role in the development as well as overall growth of children which is likely to boost the interest of parents in the dairy snack market and propel growth. There is an increasing emergence of fortified dairy snacks like almond milk, and rice milk, among other related products by various manufacturers with better-quality nutritional components of plant sterols, stanols, and iron. Such manufacturers are providing lactose-free and low-calorie variants to cater to consumers with diversified preferences and tastes. This is further expected to bolster the market opportunity across the globe over the coming years.
Based on region, Europe is anticipated to register significant growth in the dairy snack market share on account of the easy accessibility of dairy animals along with favourable climate for dairy farming and high milk production. An upsurge in health concerns along with nutritional and health benefits offered by dairy snacks is likely to aid the market growth in the region.
The United Kingdom, France, and Germany are projected to witness substantial market growth as these countries are considered significant consumers of dairy snacks in Europe. Meanwhile, the Asia Pacific region is anticipated to witness considerable growth in the market due to the rise in brand awareness and popularity of ready-to-eat food products in the region.
Key Market Players
The major players in the global dairy snack market report are:
- Fonterra Co-operative Group Limited
- Danone SA
- Gujarat Cooperative Milk Marketing Federation Ltd (Amul)
- Nestle SA, Arla Foods Amba
- Dairy Farmers of America Inc
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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