In 2032, the dairy snacks market would likely be worth US$ 214 Bn. Additionally, due to an increase in the consumption of dairy products worldwide, it is expected that between 2022 and 2032, global sales of dairy snacks would grow at a rate of about 6% CAGR, reaching a value of US$ 380 Bn.
Demand for dairy snacks is being driven in large part by the growing customer preference for healthy snacks around the world.
Dairy snacks are evolving to meet the needs of consumers looking for healthier options as the popularity of plant-based diets rises. In addition to cheese and crackers, yogurt, kefir, and milk are now included in the category of dairy snacks.
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One trend in dairy snacks is the increasing popularity of vegan cheese. Vegan cheeses are made without dairy products which makes them a great option for those who want the taste and texture of cheese but don’t want to consume animal products.
Vegan cheeses can be used in recipes or eaten on their own, and they come in a variety of flavors including cheddar, pepper jack, and mozzarella. Another trend in dairy snacks is the increasing popularity of probiotic-rich foods.
Dairy snacks are not only a delicious way to enjoy a snack, but they also offer some health benefits. These snacks are a good source of protein and calcium, which are important for growth. They can help you meet your daily recommended intake of these nutrients, as well as other essential vitamins and minerals.
Increasing demand for healthy snacks and the growing popularity of snacking among millennials are expected to boost the growth of dairy snacks market during the forecast.
The dairy snack market is highly competitive, and brands are constantly innovating new products to appeal to consumers. Some of the most popular dairy snacks include yogurt bars, cheese sticks, and milk-based shakes and smoothies.
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Key Takeaways from Market Study
- By product type, the cheese segment accounts for around 45% of the total diary snacks market.
- Based on sales channel, the online sales channel is expected to grow at a 6.7% CAGR through 2032.
- North America and Europe together hold the largest market share of the global dairy snacks market in 2022.
- The U.S. diary snacks market is expected to reach a valuation of around US$ 58.2 Bn in 2022.
- The dairy snacks market in China is projected to reach US$ 16.05 Bn in 2022.
“Brands of healthy snack products are focusing on incorporating ingredients with nutritional benefits into their products, particularly those that serve a myriad of demographic subgroups. They are promoting alternatives such as vegan, non-dairy and low-fat snacks, which appeal to a far larger audience.,” says a Future Market Insights analyst.
Who is Winning?
Some of the important players operating in the global dairy snacks market are The Kraft Heinz Co., Danone SA, Gujarat Cooperative Milk Marketing Federation Ltd (Amul), Nestle SA, Sancor Cooperativas Unidas Limited, Arla Foods ambaDairy Farmers of America Inc., Unilever, and Fonterra Group Cooperative Limited.
These leading players are constantly focusing on adopting strategies such as new product launches, partnerships, mergers, acquisitions, and shift towards online sales channels to increase their sales as well as to expand their global footprint. For instance,
- Dannon is debuting a line of Oikos Triple Zero yogurt cups that are made without added sugar, artificial sweeteners or preservatives. The company says the product has 5 grams of net carbs and 15 grams of protein per serving.
- André Vultaggio, co-founder of Blue Moon Ice Cream, is launching a line of low-carb, high-fat ice cream under the brand name Snow Monkey. The ice cream is made with organic coconut milk and contains no gluten, soy or dairy. It’s sweetened with monk fruit extract and erythritol.
- Califia Farms is releasing a new line of almond milk lattes called Happy Cappuccino. The drinks are dairy-free, vegan and gluten-free.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global Dairy Snacks market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on Type (Cheese, Yogurt, Ice Cream, Others), By Form (Organic, Conventional), Sales Channel (Offline Sales Channel (Supermarkets/Hypermarkets, Departmental Stores, Convenience Store, Other Sales Channel), Online Sales Channel (Company Website, E-commerce Platform), Region (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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