Global Dairy Snack Market is projected to register a CAGR of 5.14% during the forecast period, 2019-2024.
- Globally, the consumer demand for convenient and healthy on-the-go snack options is primarily contributing to the sales of dairy snack products. The changing lifestyle of consumers, including the consumption of smaller meals, is driving the demand for snacks.
- Dairy-based snack products are naturally high in calcium. Hence, they are perceived as a nutritional snacking option. The health benefits of probiotic drinks, especially their ability to improve digestion and the immune system, are attracting consumers across all age groups.
Scope of the Report
Global dairy snack market is segmented by product type into cheese, yogurt, buttermilk, ice cream, milk, and others. The demand for ice creams has been growing rapidly, and consumer indulgence is the major reason for this growth. On the basis of distribution channel, the market is segmented into super markets/hypermarkets, convenience stores, speciality stores, online retail stores, and others. Super markets/hypermarkets are the major channels of distribution, globally. Moreover, the study provides an analysis of the dairy snacks market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Key Market Trends
Rising Popularity of Protein-Enriched Foods and Beverages
Rising popularity of protein-enriched foods and beverages has led to increasing awareness among the consumers to become more conscious towards health benefits related to a dairy-rich diet. Rising population, urbanization and increasing demand for dairy products in food consumption are expected to increase the overall demand for diary snack. Increasing innovations in the industry help to drive down the cost of production and incorporate additional benefits to the products. Increasing demands of ready to go food are trending in the market. Flavored milk, a type of dairy snack, aids in gaining of body fats thus leading to the improved body mass ratio. Dairy snacks help in improving physical performance of the consumers and can help in fighting depression. This also acts as an important driver for the dairy snack market.
Europe Dominates the Global Dairy Snack Market
Europe dominates the global dairy snack market. Germany, France and the United Kingdom are the major markets in this region. However, growth in this region is restrained due to the rise in lactose intolerance among the consumers. On the other hand, the Asia-Pacific region is the fastest growing market during the forecast period because consumers are expanding the population, burgeoning middle class, rising income levels, growing brand awareness and westernization represents key growth drivers in the region. The Middle East and Africa are also expected to grow during the forecast period.
The market for dairy snacks is highly fragmented with many regional and international vendors, who compete for pricing, innovation and distribution. The introduction of lactose-free milk by manufacturers is an attempt to attract the lactose intolerant population and increase the consumer base. Some of the major players in the market include Kraft Foods, Inc., Danone, Amul, Nestle SA, Blue Bell Creameries, and Unilever, among others.
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