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Global Dairy Snack Market to Grow at a CAGR of 3.6% During 2022-2027, Aided by Innovations in Product Development by Leading Market Players

According to a new report by EMR titled, ‘Global Dairy Snack Market Report and Forecast 2022-2027’, the market is expected to grow at a CAGR of 3.6% in the forecast period of 2022-2027.

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.

Market Analysis by Type, Distribution Channel, and Region:

  • On the basis of type, the market can be divided into cheese, yoghurt, and ice cream, among others.
  • Based on distribution channels, the market can be segmented into supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for dairy snacks is being driven by the easy availability of different dairy snacks, including yoghurts, cheese, and ice creams, via online and offline retail channels.
  • The heightened demand for nutritious products amidst the rising trends surrounding clean label consumption and protein-rich diet amidst the health-conscious consumer is invigorating the growth of the market.
  • The rise in the market can be attributed to the many health benefits of dairy snacks as they are high in protein, calcium, and vitamin.
  • Innovations in product manufacturing, such as the development of powdered milk products, the introduction of innovative flavours, and packaged food products, are boosting the market growth of dairy snacks globally.

Key Offerings of the Report:

  • The EMR report gives an overview of the global dairy snack industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for types, distribution channels, and major regions of dairy snack.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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