The dairy snacks market is projected to hit $214 billion by 2032, growing at a 6% CAGR, driven by the rising demand for healthier snack choices amid the growing popularity of plant-based diets. Dairy snacks, evolving to meet consumer needs, now encompass a variety of options beyond traditional cheese and crackers, including yogurt, kefir, and milk.
The dairy snacks industry is projected to be valued US$ 214 billion in 2032. Furthermore, it is anticipated that between 2022 and 2032, global sales of dairy snacks would climb at a pace of almost 6% CAGR, reaching a value of US$ 380 billion, as a result of an increase in the consumption of dairy products globally.
The global dairy snacks market is poised to achieve a valuation of $214 billion by 2032, exhibiting a robust Compound Annual Growth Rate (CAGR) of 6%. The growth is attributed to the increasing demand for healthier snacking options, particularly amid the surge in popularity of plant-based diets. The dairy snacks industry is undergoing a transformation, expanding its offerings beyond traditional choices to include a diverse range of options such as yogurt, kefir, and milk.
The global market for dairy snacks is mostly being driven by customers’ growing preference for healthier snack options.
Dairy snacks are evolving to meet the needs of consumers seeking healthier options as plant-based diets gain popularity. Dairy snacks have expanded to include yoghurt, kefir, and milk in addition to cheese and crackers.
Key Points Highlighted in the Dairy Snacks Market:
- Nutritional Benefits: Dairy snacks, including cheese sticks, yogurt bars, and milk-based shakes, are not only delicious but also offer health benefits such as being a good source of protein and calcium.
- Market Competitiveness: The dairy snacks market is highly competitive, with brands constantly innovating new products to cater to consumer preferences.
- Regional Dominance: North America and Europe jointly hold the largest market share in 2022, with the U.S. dairy snacks market expected to reach around $58.2 billion in the same year.
- Sales Channel Dynamics: The online sales channel is anticipated to grow at a CAGR of 6.7% through 2032, reflecting the changing consumer preferences and the rise of e-commerce
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The growing appeal of vegan cheese is one trend in dairy snacking. Since vegan cheeses are produced without the use of dairy, they’re a fantastic choice for people who enjoy cheese’s flavour and texture but don’t want to eat animal products.
Vegan cheeses come in a range of flavours, such as mozzarella, pepper jack, and cheddar, and can be used in recipes or eaten on their own. An additional development in dairy snacks is the rising demand for meals high in probiotics.
Dairy snacks are not only a delicious way to enjoy a snack, but they also offer some health benefits. These snacks are a good source of protein and calcium, which are important for growth. They can help you meet your daily recommended intake of these nutrients, as well as other essential vitamins and minerals.
Increasing demand for healthy snacks and the growing popularity of snacking among millennials are expected to boost the growth of dairy snacks market during the forecast.
The dairy snack market is highly competitive, and brands are constantly innovating new products to appeal to consumers. Some of the most popular dairy snacks include yogurt bars, cheese sticks, and milk-based shakes and smoothies.
Key Takeaways from the Dairy Snacks Market:
- Projected Growth: The dairy snacks market is expected to be valued at $214 billion by 2032, with a projected CAGR of almost 6% between 2022 and 2032, reaching a value of $380 billion globally.
- Health-Conscious Choices: Rising consumer preference for healthier snack options is a primary driver of the global dairy snacks market’s growth.
- Beyond Cheese and Crackers: The dairy snacks landscape is evolving, now encompassing a variety of options, including yogurt, kefir, and milk, in addition to traditional choices like cheese and crackers.
- Appeal of Vegan Cheese: The growing popularity of vegan cheese is a notable trend, offering a dairy-free alternative with various flavors like mozzarella, pepper jack, and cheddar.
- Probiotic-rich Snacking: Increased demand for snacks high in probiotics is another trend in the dairy snacks market, emphasizing both taste and health benefits.
“Brands of healthy snack products are focusing on incorporating ingredients with nutritional benefits into their products, particularly those that serve a myriad of demographic subgroups. They are promoting alternatives such as vegan, non-dairy and low-fat snacks, which appeal to a far larger audience.,” says a Future Market Insights analyst.
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Who is Winning?
Some of the important players operating in the global dairy snacks market are The Kraft Heinz Co., Danone SA, Gujarat Cooperative Milk Marketing Federation Ltd (Amul), Nestle SA, Sancor Cooperativas Unidas Limited, Arla Foods ambaDairy Farmers of America Inc., Unilever, and Fonterra Group Cooperative Limited.
These leading players are constantly focusing on adopting strategies such as new product launches, partnerships, mergers, acquisitions, and shift towards online sales channels to increase their sales as well as to expand their global footprint. For instance,
- Dannon is debuting a line of Oikos Triple Zero yogurt cups that are made without added sugar, artificial sweeteners or preservatives. The company says the product has 5 grams of net carbs and 15 grams of protein per serving.
- André Vultaggio, co-founder of Blue Moon Ice Cream, is launching a line of low-carb, high-fat ice cream under the brand name Snow Monkey. The ice cream is made with organic coconut milk and contains no gluten, soy or dairy. It’s sweetened with monk fruit extract and erythritol.
- Califia Farms is releasing a new line of almond milk lattes called Happy Cappuccino. The drinks are dairy-free, vegan and gluten-free.
Dairy Snacks Market by Category
By Product Type:
- Cheese
- Yogurt
- Ice Cream
- Others
By Form:
- Organic
- Conventional
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Recent Developments and Industry Insights:
- Innovative Offerings: Leading players in the global dairy snacks market, such as The Kraft Heinz Co., Nestle SA, and Unilever, are adopting strategies like new product launches and partnerships to stay competitive.
- Product Diversification: Brands like Dannon are introducing healthier alternatives like Oikos Triple Zero yogurt cups, aiming to cater to consumers looking for options with no added sugar, artificial sweeteners, or preservatives.
- Health-Focused Trends: Emerging brands, including Blue Moon Ice Cream and Califia Farms, are focusing on health-centric offerings such as low-carb, high-fat ice cream and dairy-free almond milk lattes.
Market Strategies and Consultation:
To navigate the dynamic dairy snacks market, brands are strategically incorporating ingredients with nutritional benefits, promoting alternatives like vegan, non-dairy, and low-fat snacks. This approach appeals to a broader audience with diverse demographic subgroups.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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