Dairy Snacks Market

Dairy Snacks Market Size, Share, Growth (2023-2028)

Dairy Snacks Market size is expected to be USD 237.54 billion in 2023 to USD 319.39 billion at a CAGR of 6.10% throughout the outlook period 2023-2028

Dairy Snacks Market Overview

Snack sales are on the rise and almost all segments of the food and beverage industry are experiencing exponential growth, as well as a continuous change in consumer preferences. Dairy snacks, like flavored milk beverages, help elevate consumers' moods and boost their energy levels. The growing demand for ready-to-eat food is on the market. Flavored milk, a type of dairy snack, helps to gain body fat, leading to a better body mass ratio. Dairy snacks help improve consumers' physical performance and can help fight depression. Flavor, ingredients, convenience, and price are the most influential factors driving the demand for dairy snacks.

Recent Developments in the Dairy Snacks Industry:

1. The Bel Group decided to obtain a majority share in the French start-up. All in Foods, as part of its development strategy in foods of plant origin. Founded in 2013, the All in Foods portfolio contains a varied range of vegetable substitutes to cheese, in addition to vegetable sauces under its Nature & Moi brand, which are sold in restaurants and supermarkets in France and abroad.

2. the acquisition of 100% of the total paid-up and issued equity share capital of Kwality Limited has been approved CCI by Pioneer Securities Private Limited, and Haldiram Snacks Private Limited.

3. In April 2019, TPG Capital and Haldiram Snacks were among the contenders present EoI to acquire Kwality Dairy deficit. Investors have submitted the offers to EY's Shailendra Ajmera, who is the resolution professional for Kwality Dairy, and is in the process of resolving corporate insolvency (CIRP).

Dairy Snacks Market Drivers and Restraints:

The increasing popularity of protein-fortified foods and beverages has led to increased awareness among consumers to become more aware of the health benefits associated with a diet rich in dairy products. The rising population, urbanization, and increasing need for dairy products in intake of food products are foreseen to accelerate the call for dairy snacks. Increasing innovations in the industry are helping to reduce production costs and incorporate additional benefits into products is also a major driver for the global dairy snack market. However, the increase in lactose intolerance among consumers and the switch to non-dairy products are holding back the growth of this market. The increasing popularity of vegan trends is another limitation for this market.

Dairy Snacks Market Segmentation:

The global dairy snack market can be categorized on the basis of

• nature

• product type

• distribution channel

Depending on the type of product, Dairy Snack can be divided into

• lactose-free milk

• ice cream

• buttermilk

• butter

• yogurt

• cheese

Based on end-use, the dairy snack market is segmented into

• HoReCa

• the beverage industry

• the food industry

Dairy Snacks Market Regional Analysis:

• North America

• Asia Pacific

• Europe

• Latin America 

• the Middle East and Africa

Europe dominates the world market for dairy snacks. Germany, France and the United Kingdom are the main markets in this region. However, growth in this region is slowing down due to increased lactose intolerance among consumers. On the other hand, the Asia-Pacific region is touted to be the fastest-growing market during the forecast period, owing to the increase in population, the growing middle class, rising income levels, increased awareness of brand and westernization. The Middle East and Africa area is also projected to progress throughout the outlook period. The current trend owing to increasing urbanization and the growth of the middle-class population with disposable income will stimulate the market.

Dairy Snacks Market Key Players

1. Sancor Cooperativas Unidas Limited

2. Nestle SA

3. Friesland Campina

4. Blue Bell Creameries

5. Organic Valley

6. Fonterra Group Cooperative Limited

7. Groupe Lactalis SA

8. Unilever, Amul

9. Parmalat S.p.A

10. Kraft Foods