Latin America Dairy Snacks Market is expected to be worth USD 19.78 billion in 2024 to grow at a CAGR of 7.01%, to reach USD 27.75 billion by 2029 from the forecast period of 2024 to 2029.
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 buttermilk, which is a byproduct of the butter-making process. Dairy snacks constitute about 15% of the total snack products. Primary factors driving the market are increasing disposable income, the introduction of various flavors attracting all categories of consumers, a gradual shift of consumers towards dairy products, and product innovation creating sugar-free as well as no-lactose-free variants. However, stringent government regulations that increase lactose intolerance are factors hindering the growth of the market.
This Research Report on Latin America Dairy Snacks Market is segmented and sub-segmented into the following categories:
Latin America Dairy Snacks Market - By Type:
Latin America Dairy Snacks Market - By Taste:
Latin America Dairy Snacks Market - By Distribution Channel:
Latin America Dairy Snacks Market – By Region:
Brazil holds the major share in the market due to the presence of market leaders as well as a large population of Dairy Snacks consuming individuals. Argentina is the fastest-growing region due to increasing demand for 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.
KEY MARKET PLAYERS:
Key Market Players in the Latin America Dairy Market are Amul, Arla Foods UK Plc, Blue Bell Creameries, Breyers, Dairy Farmers of America Inc, Danone, Dean Foods Company, Nestle SA, Fonterra Group Cooperative Limited, Kraft Foods, and Unilever.
Frequently Asked Questions
Dairy snacks refer to a range of ready-to-eat or on-the-go products derived from dairy ingredients such as milk, cheese, yogurt, and cream. These snacks often come in various forms including bars, drinks, puddings, and single-serve packs.
Factors driving growth in the Latin America dairy snacks market include increasing urbanization, rising disposable incomes, changing dietary habits, growing awareness of health and wellness, and the convenience factor associated with dairy snacks as on-the-go options.
Major markets for dairy snacks in Latin America include Brazil, Mexico, Argentina, Colombia, and Chile. These countries have large populations, growing middle-class segments, and a strong demand for convenient food options.
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