PUBLISHER: 360iResearch | PRODUCT CODE: 1464968
PUBLISHER: 360iResearch | PRODUCT CODE: 1464968
[191 Pages Report] The Dairy Snack Market size was estimated at USD 32.25 billion in 2023 and expected to reach USD 33.97 billion in 2024, at a CAGR 5.47% to reach USD 46.83 billion by 2030.
A dairy snack is a category of snacks primarily or solely made from or containing various dairy products, including milk, yogurt, cheese, and butter. These snacks are cherished globally for their rich flavors and nutritional benefits, including a good source of calcium, protein, and essential vitamins. Dairy snacks encompass various products, ranging from cheese slices, yogurt-based drinks, and ice cream to innovative offerings such as dairy-based protein bars and cheese-filled crackers. Dairy snacks, tailored to meet the fast-paced lifestyle of modern consumers, offer convenience, variety, and nutritional advantages, making dairy snacks a preferred choice for individuals seeking healthy, on-the-go snack options. The manufacturers increasingly focus on introducing lactose-free, reduced-fat, and fortified dairy snack variants to cater to a broader audience, including those with dietary restrictions and health-conscious consumers. The dairy snack industry has grown remarkably, driven by evolving consumer preferences and the rising emphasis on health and wellness. The factors such as the increasing demand for convenient and healthier snack options and innovations in flavor and packaging contribute significantly to the sector's dynamism and expansion. The consumer shifts toward plant-based alternatives and regulatory scrutiny on labeling act as a challenge for the dairy snack market growth. There is also a growing consumer concern over the environmental and ethical implications of dairy farming, urging brands to reassess their supply chain practices. The growing preference for protein-rich and flavored dairy snack products offers a substantial opportunity for dairy snack manufacturers to innovate and expand their product lines.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 32.25 billion |
Estimated Year [2024] | USD 33.97 billion |
Forecast Year [2030] | USD 46.83 billion |
CAGR (%) | 5.47% |
Product: Increasing demand for dairy snack products with convenience and nutritional value
The dairy and beverage segment, encompassing milk-based drinks and flavored milk, thrives on innovation in packaging and preservation technologies, offering diverse flavors and nutritional benefits. Cheese continues to be a preferred choice of consumers in the dairy snacks market, with rising demand for artisanal, organic, and specialty varieties, spurred by the taste of consumers for premium products and the fast-food industry's vast cheese utilization. The ice cream segment, known for its dynamic innovation, caters to evolving consumer preferences by introducing novel flavors, health-oriented products, and premium options, maintaining a consistent year-round demand despite its seasonal nature. The yogurt is emerging as a favored healthful snack, enriched with probiotics and available in multiple formats, including plant-based, flavored, drinkable, and high-protein versions, aligning with the shift towards healthier eating patterns.
Sales Channel: Rising inclination toward the online sales channel
The offline sales channel is pivotal in distributing dairy snacks, catering to consumer preferences through its key segments, including convenience stores, departmental stores, and supermarkets/hypermarkets. Convenience stores, strategically located for easy access, are ideal for customers requiring quick, on-the-go indulgences, including dairy snacks, offering extended hours for spontaneous purchases. Departmental stores provide a more extensive selection of dairy snacks within a sophisticated shopping environment, appealing to those seeking variety and quality in a single location. Supermarkets and hypermarkets, the backbone of offline sales, boast a comprehensive assortment of dairy snacks, leveraging high customer traffic, competitive prices, and effective promotional activities to serve a diverse clientele. Parallelly, the online sales channel, comprising company websites and e-commerce platforms, has surged in popularity, providing convenience, a broad product range, and the advantage of shopping from home, further propelled by the increasing accessibility of internet services. Company-owned websites facilitate direct customer interactions through detailed product insights, reviews, and special offers, whereas e-commerce platforms offer various dairy snack options across brands, enhanced by comparative shopping tools, aggressive pricing, and varied delivery services.
Regional Insights
The Americas is a rapidly evolving dairy snack market for innovative, convenient, and health-focused snack options. Highlighted by the United States, the dairy snack market is boosted by a surge in lactose-free and protein-rich offerings, complemented by an enthusiasm for unique flavors and artisanal and organic selections. Similarly, the Asia-Pacific region is on a significant growth trajectory, propelled by urbanization and rising incomes, especially in China, India, and Southeast Asia. Consumer preferences in the Asia-Pacific region lean toward nutritious dairy snacks, with a particular interest in functional products and modern reinterpretations of traditional local offerings despite the challenge of catering to varied dietary preferences and restrictions. The EMEA dairy snack market showcases diversity with Europe, exhibiting a strong preference for organic, natural, and non-GMO products driven by consumer awareness around sustainability and animal welfare. The dairy snack market across the EMEA region is marked by consumer preferences showcasing a pivot towards health-centric and organic options in Europe, a continued affinity for traditional and rich flavors in the Middle East, and an emerging market for packaged dairy snacks in Africa. European consumers are shifting toward low-fat, low-sugar, and protein-rich offerings.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Dairy Snack Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Dairy Snack Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Dairy Snack Market, highlighting leading vendors and their innovative profiles. These include Almarai Company Limited, Arla Foods Group, Bega Group, Blue Bell Creameries, BONGARDS, Britannia Industries Limited, China Mengniu Dairy Company Limited, Dairy Farmers of America, Inc., Danone S.A., Fonterra Co-operative Group Limited, General Mills Inc., Gujarat Cooperative Milk Marketing Federation Ltd., Inner Mongolia Yili Industrial Group Co., Ltd., Lactalis American Group, Inc., Megmilk Snow Brand Co., Ltd., Meiji Holdings Co., Ltd., Nestle S.A., Organic Valley, Parag Milk Foods Limited, Royal FrieslandCampina N.V., Saputo Inc., Sargento Foods Inc., The Kraft Heinz Company, Unilever PLC, Wells Enterprises, Inc., and Yakult Honsha Co., Ltd..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Dairy Snack Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Dairy Snack Market?
3. What are the technology trends and regulatory frameworks in the Dairy Snack Market?
4. What is the market share of the leading vendors in the Dairy Snack Market?
5. Which modes and strategic moves are suitable for entering the Dairy Snack Market?