According to the latest report by IMARC Group, titled "Dairy Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global dairy snacks market reached a value of US$ 214.8 Billion in 2021. Dairy snacks are small meals that are predominantly made up of milk. These snacks are rich in essential nutrients, such as calcium, magnesium, selenium, riboflavin, pantothenic acid, and vitamin B12 and B5. As the prominence of plant-based diets continues to grow, dairy snacks are evolving to fit the needs of consumers that are looking for healthier options. These snacks are not only a delicious way to enjoy a snack, but they also offer multiple health benefits. A majority of these products are essential for growth as they help meet the daily recommended intake of vitamins and minerals.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Dairy Snacks Market Trends:
The global market is primarily driven by the increasing consumption of ready-to-eat (RTE) milk products. In line with this, various dairy snacks, such as ice creams, cheese, and yogurts, are continuously witnessing a considerable demand among the young population, which, in turn, is contributing to the market expansion. This has also led to offering growth opportunities for manufacturers to introduce innovative dairy products, including variants with powdered ingredients for a longer shelf life. Furthermore, rapid innovations in manufacturing practices, such as the development of soy milk and gluten-free products, are creating a positive outlook for the market. Apart from this, the rising demand for a protein-rich diet due to the growing health consciousness among consumers is positively influencing the product demand. Moreover, the escalating popularity of craft and artisanal cheese products due to their nutritional content is catalyzing the growth of the market. Besides this, the easy availability of dairy snacks through various distribution channels is favoring the market growth. Additionally, rapid urbanization and the growing demand for protein-fortified foods and beverages are strengthening the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 302.5 Billion by 2027, exhibiting a CAGR of 6% during 2022-2027.
- On the basis of the type, the market has been segmented into cheese, yogurt, ice cream, and others.
- Based on nature, the market has been divided into organic and conventional.
- On the basis of the distribution channel, the market has been classified into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- On the basis of the end use, the market has been bifurcated into HoReCa and food and beverage industry.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Arla Foods Ingredients Group, Dairy Farmers of America Inc., Danone S.A., Fonterra Co-operative Group Limited, Friesland Campina, Lactalis International, Megmilk Snow Brand Co.Ltd, Meiji Holdings Co. Ltd., Nestle S.A, Organic Valley, The Kraft Heinz Company and Unilever PLC.
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