Dairy Snack Market - Growth Trends and Forecasts (2018 - 2023)

The​ Global Diary Snack market accounted to USD XX million in 2018, and is expected to Reach USD million by 2023, growing at a CAGR of 4.5% during 2018-2023.Consumers around the world are turning to a healthy lifestyle and so are reducing the intake of unhealthy sugary snacking foods, especially for children in a bid to prevent childhood obesity. Most of the companies want to tap into the demand for convenient and healthy snacks, and so they are considering to have a product catalog that contains a large number of dairy snacks. The common consumer perception for dairy snacks is that they are nutritionally better as they contain more natural product than carbohydrates.    

Dairy-based snacks account for around 13% of the total snacks consumed, globally. As consumer perceive dairy snacks to be healthier, currently there is almost a 51% greater chance that most of the large companies will start innovation in dairy snacks, compared to other snack categories.

Industry Developments

• Valio is set to open a new USD 190 million dairy snack factory in Herajoki, in 2017. The company announced that the new facility will strengthen its competitiveness both in Finland and in export markets. The new 20,000 sqm factory will have a capacity of approximately 120m kg per year. Also, the new production techniques at plant will reduce the loss of milk and other raw materials significantly.
• Ornua, Ireland’s largest exporter of Irish dairy products, acquired the CoreFX Ingredients division of MCT Dairies, Inc. and a powder ingredient production facility in Orangeville, Illinois.
• Fonterra has started the use of milk processed at its Wynyard factory to supply whey protein concentrate, a key ingredient in dairy products including yoghurt, dairy beverages and snack bars. The new products are a result of collaboration between Fonterra Australia’s ingredients business and one of Japan’s largest food makers.

GROWING HUGE INVESTMENT IN TECHNOLOGY DEVELOPMENT FOR FROZEN FOOD MARKET

They has not been immense growth in this industry in past, as this industry could not create any new consumer-friendly snacks, due to the refrigeration, preservation and portability issues. But over time this has changed as most of the companies in this industry have invested heavily on research and development focusing on these problems. The contribution factor for these investment in R and D by these companies are the rising consumer preference for dairy products, the popularity of inherent goodness of milk products, and rising demand for dairy-based ingredients products.

DEVELOPED ECONOMIES ARE THE NEW LATITUDES GLOBAL FROZEN FOOD INDUSTRY

The global dairy snack market is segmented by product type into cheese, yogurt, butter, buttermilk, ice cream, lactose-free milk and others. The demand for ice creams has been growing rapidly, and consumer indulgence is the major reason for this growth. Also, lactose-free milk has gained popularity globally due to the rise in lactose intolerance among the people. By taste, the market is segmented into sweet and sour. Regarding distribution channel, the market is segmented into super markets/hyper markets, grocery stores, convenience stores, online and others. Super markets/hyper markets are the major channels of distribution, globally.

Europe dominates the global dairy snack market. Germany, France and the U.K 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 for dairy snacks, due to the growing population and increasing disposable incomes in the region. In India, yogurt and buttermilk are consumed daily, by many people.

COMPETITIVE ENVIRONMENT

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. Such innovations are the key to success in this market. Major companies in dairy snacks industry have also invested heavily in R&D, to increase the shelf-life of dairy snacks.

NOTABLE MARKET DEVELOPMENTS

• The European dairy cooperative Arla Foods amba has set its sights on the United States.
• Bakersfield, Calif.-based Bolthouse Farms’ MAIO is a new line of refrigerated, yogurt-based spreads made with clean ingredients (like milk, water, corn starch, salt and cane sugar).
• Valio is set to open a new USD 190 million dairy snack factory in Herajoki. The company expects this plant will help strengthening its competitiveness in Finland and in export markets.   

Some of the major players in the market include -

• Kraft Foods, Inc.
• Danone
• Amul
• Nestle SA
• Blue Bell Creameries
• Unilever

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
• 3 months analyst support along with the Market Estimate sheet in excel.

Customization of the Report

• Value chain analysis
• Volume of the Global Dairy Snack Market 
• Consumer behavior analysis in country level

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