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Snackonomics: Understanding the Dairy Snacks Market Dynamics
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 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. Cheese and crackers are no longer the only dairy snacks; yoghurt, kefir, and milk have also become popular.
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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.
Key Takeaways from Market Study
- By product type, the cheese segment accounts for around 45% of the total diary snacks market.
- Based on sales channel, the online sales channel is expected to grow at a 6.7% CAGR through 2032.
- North America and Europe together hold the largest market share of the global dairy snacks market in 2022.
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Who is Winning?
- 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.
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
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness