Global Dairy Snack Market Report and Forecast 2024-2032

Global Dairy Snack Market Outlook

The global dairy snack market is expected to grow at a CAGR of 3.6% during the forecast period of 2024-2032.

The Rising Demand for Protein Rich Diet to Invigorate the Market Growth of Dairy Snacks

The global market for dairy snacks is being driven by the considerable rise in the consumption of ready-to-eat (RTE) milk products on account of busy lifestyles, inflating incomes, and growing global population. Dairy snacks like ice creams, cheese, and yoghurts are continuously witnessing a huge demand, especially after the coronavirus outbreak. This can be associated with the heightened demand for comfort foods, especially during the lockdown period. This led to the generation of robust growth opportunities for manufacturers to innovate with dairy products, such as the production of powdered ingredients having a longer shelf life.

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In addition, the market grew at a healthy pace despite the lockdown as dairy items like  yoghurts and cheese are rich in proteins and nutrients and thus witnessed augmented demand from the health-conscious consumers. However, the rising trends of veganism are expected to restrict the growth of the market. Nonetheless, innovations in manufacturing practices such as the development of soy milk and gluten-free products are anticipated to provide impetus to the market growth.

Dairy Snack: Market Segmentation

Dairy snacks are mini meals that are predominantly made up of milk. These snacks have numerous nutrients, such as calcium, protein, and vitamin B12 and B5.

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On the basis of type, the market can be segmented into:

• Cheese
• Yoghurt
• Ice cream
• Others

The yoghurt segment is divided into spoonable yoghurt and drinkable yoghurt.

Based on distribution channel, the market can be divided into:

• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Stores
• Online
• Others

The EMR report looks into the regional markets of dairy snack like North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Easy Availability of Dairy Snacks Through an Extensive Distribution Channel to Aid the Growth of the Market

The rise in the market for dairy snacks can be associated with the increasing demand for yoghurts and flavoured milk owing to their high protein and nutritional value. As a result of busy lifestyles, dual income households, and high demand for ready-to-eat products, the market is further witnessing growth with the availability of packed food items from an extensive distribution channel. Supermarkets, hypermarkets, convenience, speciality stores, and other dairy stores are the largest suppliers of dairy snacks and the presence of these in nearly every neighborhood is invigorating the growth of the overall market of dairy snacks.

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However, owing to the pandemic induced restrictions on social gatherings and the shut down of convenience stores led to the robust growth of e-commerce websites, which sustained the market growth of dairy snacks. Looking forward, the market is expected to be continually driven by the demand for nutritious food items and the flourishing e-commerce industry in major regions. These factors are hence boosting the growth of the market.

Key Industry Players in the Global Dairy Snack Market

The report presents a detailed analysis of the following key players in the global dairy snack market, looking into their capacity, market share, and latest developments like capacity expansions, plant turnabouts and mergers and acquisitions:

• Fonterra Co-operative Group Limited
• Danone SA
• Gujarat Cooperative Milk Marketing Federation Ltd (Amul)
• Nestle SA
• Arla Foods Amba
• Dairy Farmers of America Inc.
• Others

The comprehensive report looks at the micro and macro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of the Porter’s Five Forces Model.

Key Highlights of the Report