Dairy Snack Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Dairy Snack Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global dairy snack market is projected to register a CAGR of 3.49% during the forecast period 2020 - 2025.

Key Highlights

• Globally, the consumer demand for convenient and healthy on-the-go snack options is primarily contributing to the sales of dairy snack products. The changing lifestyle of consumers, including the consumption of smaller meals, is driving the demand for snacks.
• Dairy-based snack products are naturally high in calcium. Hence, they are perceived as a nutritional snacking option. The health benefits of probiotic drinks, especially their ability to improve digestion and the immune system, are attracting consumers across all age groups.
• During the initial wave of business and community shutdowns, dairy products are in high demand online, with e-commerce prices and out-of-stock levels increasing as more shoppers shift from brick and mortar retailers due to COVID-19. A major issue is the disrupted supply chains, including dairy snacks, as, during the lockdown, countries closed their borders or raised trade barriers. As a result, manufacturers and exporters were facing high competition to export their goods. Air freight has been significantly reduced for commercial use while many goods are usually shipped via this means of transport. Therefore, producers face difficulties to honor their orders and businesses slowed down.

Key Market TrendsRising Demand for Natural, ‘Authentic’ Cheeses

Consumer demand for crafts and artisanal cheese products is increasing, which are closely linked to real cheese and simple ingredients. Cheese is considered a healthy snack by consumers and is strongly associated with calcium, protein, and vitamin D, but it has a negative perception that it is high in fat and generally lacks health. Cheese owns the tag of a ‘naturally functional whole food’. Hence, numerous manufacturers are marketing cheese snack as a healthy snack. Cheese snacks have been popular in regions, such as North America and Europe, and now, the demand for cheese snacks has spread across the world. According to the USDA, cheese consumption has grown 43% over the past 25 years. In specialty cheese, consumers can explore new and interesting flavors at the same time having a less processed snack.

Europe Dominates the Global Dairy Snack Market

Europe dominates the global dairy snack market. Germany, France, and the United Kingdom are the major markets in this region. However, growth in this region is restrained due to the rise in lactose intolerance among the consumers. On the other hand, the Asia-Pacific region is the fastest-growing market during the forecast period because consumers are expanding the population, burgeoning middle class, rising income levels, growing brand awareness, and westernization represent key growth drivers in the region. The Middle East and Africa are also expected to grow during the forecast period.

Competitive Landscape

The market for dairy snacks is highly fragmented with many regional and international vendors, who compete for pricing, innovation, and distribution. The introduction of lactose-free milk by manufacturers is an attempt to attract the lactose intolerant population and increase the consumer base. Some of the major players in the market include Kraft Foods, Inc., Danone, Amul, Nestle SA, Blue Bell Creameries, and Unilever, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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