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The global market for dairy snacks is being led by the innovations in products to satiate the rising demand for nutrition, protein, and exciting flavours. Innovation in the yoghurt segment ranging from indulgence to dietary needs is positively influencing the market growth of dairy snacks. Products including silk almond milk yoghurt alternative mix-ins, low sugar components, and dairy free ingredients in the wake of rising gluten intolerance and rising trends surrounding veganism is boosting the market of yoghurts, thereby propelling the overall market growth of dairy snacks. Furthermore, the growing demand for convenience food products, such as ice creams, and cheese products are further fuelling the growth of the market. As a result, innovations in products to incorporate exciting and demanding flavours is driving the growth of the market. The market growth is further strengthened by the expansion and development of innovative products by global market players, such as Nestle SA (SWX: NESN).
Babybel, a significant company in the global market for dairy snacks, recently introduced a new range of functional dairy snacks in January 2021. To meet with the growing emphasis on health and wellness, the introduction of probiotics products in dairy snack categories of the food and beverage industry is expected to push the market growth. The Babybel Plus+ Probiotic contains billions of live and active cultures of the LGG probiotic strain, which evidence to boost the immune system when consumed as a part of balanced diet and healthy lifestyle. The other product by the company, Babybel Plus+ Vitamins, are a rich source of Vitamins A and B12, which are popularly known to have benefits on eye health and metabolism, respectively. Such developments are leading the growth of the overall market of dairy snacks.
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The major players in the global dairy snack market are Fonterra Co-operative Group Limited, Danone SA, Gujarat Cooperative Milk Marketing Federation Ltd (Amul), Nestle SA, Arla Foods Amba, and Dairy Farmers of America Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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