Snacks sales are on rising and almost all segments in food & Beverage sector are experiencing an exponential growth rate along with a continuous change in consumer preferences. Rising demand for dairy snacks in emerging countries coupled with the launch of new snacks variants has resulted in an increased demand for the global dairy snacks during the forecast period. Dairy Snacks, such as flavored milk drink helps in elevating the mood of the consumers and increases their energy levels. Increasing demands of ready to go food are trending in the market. Flavored milk, a type of Dairy Snack, aids in gaining of body fats thus leading to the improved body mass ratio. Dairy Snacks help in improving physical performance of the consumers and can help in fighting depression. Taste, ingredients, convenience, and price represent the most influential factors that determine the demand for Dairy Snacks.
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Dairy Snack Market: Segmentation:
Global Dairy Snack market can be segmented on the basis of product type, nature, distribution channel, and geography.
On the basis of product type, Dairy Snack can be segmented into cheese, yogurt, butter, buttermilk, ice cream, lactose-free milk, and others.
On the basis of end use, Dairy Snack market is segmented into HoReCa, beverage industry and food industry. The beverage industry holds a maximum share of the market.
On the basis of nature, Dairy Snack can be segmented into organic and conventional. The consumption of organic snacks is increasing among the health-conscious population because it helps to maintain their healthy lifestyle.
Dairy Snack market is further segmented on the basis of distribution channel into a direct and indirect channel. Indirect channel is further segmented into modern trade, specialty stores, convenience stores, commercial, hotels/restaurants/bars, online retailers, and other retailing formats.
Dairy Snack Market: Drivers, Restraints, and Trends
Rising popularity of protein-enriched foods and beverages has led to increasing awareness among the consumers to become more conscious towards health benefits related to a dairy-rich diet. Rising population, urbanization and increasing demand for dairy products in food consumption are expected to increase the overall demand for diary snack. Increasing innovations in the industry help to drive down the cost of production and incorporate additional benefits to the products. This also acts as an important driver for the dairy snack market. However, increasing lactose intolerance among the consumers and a shift to non-dairy products are restraining the growth of this market. The rise in popularity of vegan trends is another restraint for this market. Regarding opportunities, products with longer shelf-life and innovative products with different ingredients still prevail in the market.
Dairy Snack Market: Regional Outlook
Depending on the geographic regions global Dairy Snack market is segmented into five key regions: North America, Latin America, Europe, APAC, and MEA.
Europe is the leading consumer of the Dairy Snack, France AND U.K are the largest consumers of dairy snacks.
Asia Pacific Dairy Snack market represents the largest growing market during the forecast period because consumers are expanding the population, burgeoning middle class, rising income levels, growing brand awareness and westernization represents key growth drivers in the region. The Middle East and Africa are also expected to grow during the forecast period.
The recent trend due to increasing urbanization and a growing middle-class population with disposable incomes will drive the market.
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Dairy Snack Market: Key Players
Key global market players producing Dairy Snack include Nestle SA, Danone, Dairy Farmers of America Inc, Kraft Foods, Inc., Unilever, Amul, Breyers, Dean Foods Company, Fonterra Group Cooperative Limited, Groupe Lactalis SA, Megmilk Snow Brand Co. Ltd, Meiji Dairies Corp., Parmalat S.p.A, Organic Valley, Arla Foods UK Plc., Blue Bell Creameries, Friesland Campina, Sancor Cooperativas Unidas Limited and other.