Dairy Snacks Market Research Analysis 2020-2025:
Dairy Snacks Marketwas worth USD XX billion in 2018 and estimated to be growing at a CAGR of XX%, to reach USD XX billion by 2023. These types of snacks are consumed directly or added to other food products.
Snacks are prepared in a variety of forms including packaged snack products and other processed products as well as items made from fresh ingredients made at home. Traditionally, snacks are made from the ingredients available at home. Dairy snacks are made from milk or are the by-products of other milk products like butter milk which is a by-product of butter making process. Dairy snacks constitute about 15% of the total snack products.
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Primary factors accounted for driving the market are increasing disposable income, introduction of various flavours attracting all categories of consumers, gradual shift of consumers towards dairy products and product innovation creating sugar free as well as no lactose free variants. However, stringent government regulations increasing lactose intolerance are the factors hindering the growth of market.
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Market Segmentation Analysis:
The Global market for Dairy Snacks is segmented based on Type, Taste and Distribution Channel. Based on Type it is divided into Cheese, Yogurt, Butter, Buttermilk, Ice cream, Lactose Free Milk and Others. Non Based on Taste it is segmented as Sweet and Sour. Based on Distribution Channel it is divided into Supermarkets, Convenience Stores, Grocery Stores, Online and Others. Based on geographical analysis, the market is divided into regions of North America, Latin America, Europe, Middle East and Africa and Asia Pacific. Europe holds the major share in the market due to presence of market leaders as well as a large population of Dairy Snacks consuming individuals. Asia Pacific is the fastest growing region due to increasing demand and product innovation and increasing disposable income. Ice Creams are the wide spread dairy snack product in terms of both volume as well as market share due universal love for ice creams while yogurt snack products are the fastest growing due to increasing consumer preference for probiotic and prebiotic yogurt drinks and flavoured yogurt. Based on Distribution channel supermarkets hold the major share in the market while online retails are expected to grow the fastest.
Major Key Players Analysis:
Some of the key players dominating this market include Amul, Arla Foods UK Plc., Blue Bell Creameries, Breyers, Dairy Farmers of America Inc., Danone, Dean Foods Company, Nestsle SA, Fonterra Group Cooperative Limited, Kraft Foods and Unilever.
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