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Healthy Snacks Market Overview
The global healthy snacks market is likely to witness upsurging sales over the next few years. Rapidly changing lifestyles influenced by economic growth increase market demand. Market Research Future (MRFR) asserts that the global healthy snacks market is poised to grow from USD 0.09 BN in 2022 to USD 0.14 BN by 2030, with a 6.82% CAGR during the forecast period (2023-2030).
Besides, the range of nutritional benefits that healthy snacks can offer, and the high consumption boost the market size. The increased awareness among consumers about the nutritional benefits of healthy snacks, such as high protein, vitamin, and low-calorie content, are key market drivers. Healthy snacks are widely preferred among health-conscious people.
Moreover, the growing trend of food fortification to increase their nutritional value substantiate the healthy snacks market revenues. Conversely, the demand and supply gap in raw materials and their fluctuating prices impede market growth. Nevertheless, the increasing consumption of healthy is expected to support the growth of the market.
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Global Healthy Snacks Market – Competitive Analysis
The highly competitive healthy snacks market appears fragmented, characterized by the presence of several players. To gain an edge over their competition, matured players initiate strategies such as partnership, acquisition, collaboration, product launch, and expansion. The competition in the market will likely intensify further with the regulatory approvals for healthy snacks. Producers are being innovative while finalizing packaging design. They are trying the latest trends of attractive packaging materials such as PET jars and pouches. Manufacturers also focus on using durable yet ductile, affordable, and sustainable packaging solutions.
Major Players:
Key healthy snacks market players are General Mills Inc (US), Sun-Maid (US), Dole Food Company Inc (US), Bel Brands USA Inc. (US), Mondelez International Inc (US), Medifast Inc (US), No Limit LLC (US), Danone SA (France), and L T Foods (India), among others.
Global Healthy Snacks Market – Segmentation
The market analysis is segmented into product types, claims, packaging, distribution channels, and regions. The product type segment is sub-segmented into sweet, savory, and others. The claim segment is sub-segmented into gluten-free, low-fat, sugar-free, and others. The packaging segment is sub-segmented into jars, boxes, pouches, cans, and others. The distribution channel segment is sub-segmented into store-based and non-store-based. By region, the healthy snacks market is segmented into the Americas, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
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Global Healthy Snacks Market – Regional Analysis
North America dominates the healthy snacks market, accounting for the largest market share. Factors boosting the regional market growth include consumer inclination towards healthier food alternatives, high per-capita income, and the presence of a well-established health nutritional industry, among others. Besides, the rise in demand for chewy granola snack bars and the number of households using snack cereal bars escalates the market value.
Industry/ Innovation/ Related News:
July 25, 2023 — Troo Good, an India-based millet snacks company, announced its plan to make millet-based healthy snacks affordable for all. The company aims to tackle malnutrition by providing healthier alternatives to regular snacks. To address the humongous distribution network needs, Troo Good has shifted its focus to increasing the shelf life of its products. The company makes millet chikki containing ragi, jowar, bajra, and peanuts and applies food fortification to improve the product’s nutritional value.
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