Dairy Snack Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

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

• 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.

Scope of the Report

The dairy snack market is segmented by product type into cheese, yogurt, ice cream, and other types. The demand for ice creams has been growing rapidly, and consumer indulgence is the major reason for this growth. On the basis of the distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online retail stores, and others. Supermarkets/hypermarkets are the major channels of distribution, globally. Moreover, the study provides an analysis of the dairy snacks market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

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Key Market Trends

Rising 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.

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