The European dairy snacks market is anticipated to grow at a CAGR of 4.4% over the forecast period (2020-2026). The key factor that drives the growth of the market includes the well-established dairy industry in the region. According to the European Parliament, the EU dairy sector is the second biggest agricultural sector in the EU, representing more than 12 % of total agricultural output. The EU was the largest producer of milk in absolute terms and relative to population size among G20 members as of 2016.
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Along with this, there is substantial demand for cheese particularly in countries such as the UK and Germany. Hence, owing to an established dairy sector and substantial demand, the market is likely to witness positive growth over the forecast period.
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Besides, some other factors that drive the market growth include increasing disposable incomes, rising consumer health awareness along with the rise in snack consumption habits. However, some factors such as increasing lactose intolerance, growing popularity of vegan products, and shift to non-dairy products are challenging the growth of the European dairy snacks industry.
Europe Dairy Snacks Market – Segmentation
By Product Type
- Cheese
- Yogurt
- Ice Cream
- Others
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