Market Overview
The global healthy snacks market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 6.8% during the forecast period (2023-2030).
Healthy snacks between meals decrease hunger and keep away from overeating at meal time. As consumers in the market become more health contious need for healthy snacks increased in the forecast period. Rise in the disposable income with corporate culture with long work hours and stressful lifestyle leads into change in consumers eating patterns. Consumers preferred more healthy snacks.Also, availability of new flavours and textures of healthy snacks helps to boost market growth in the forecast period. Increase in the trend of personalized healthy snacks also helps to boost market growth in the forecast period.
Market Dynamics
Increasing demand for healthy food helps to fuel the demand for healthy snacks product
Increase in the consumers demand for healthy snacks to maintain overall health and reduce the risk of certain lifestyle related chronic diseases. Consumers are searcjing for the better for you options in snacks. Healthy snacks are rich source of micronutrients, fibers, proteins which is good for the health.Increase in the demand for healthy foods in weight management, improvement of digestive health and reduce the risk of obecity, diabetes, and cardiovascular diseases drive the market of healthy snacks.Also, increase in the health awareness in the young generation helps to boost market growth. Healthy snacks consumption provides fiber, protein and nutrients. It helps to keep digestive system healthy. Fiber in the snacks helps to improve blood sugar level and cholesterol which is essential to prevent diseases. Regular eating of healthy snacks helps to boost energy level. It helps to boost performance level of body. Consumption of healthy snacks helps to boost mental acuity and overall performance of the body. Healthy snacks are nutritious, organic, low-fat, low-calorie, gluten-free that helps to boost demand of healthy snacks due to the increase in the consumers demand for the healthy options to eat.
Increase in popularity of convenience food and on the go snacking to support development
The growing popularity of convenience, ready to eat food is major factors that helps to boost market growth. Increase in the working women population worldwide so they don’t have time for cooking so increase demand for the healthy snacking options. In 2021, In India, female labor force participation rate is increased by 0.6%. Total, the rate amounted to 19.23 percent in 2021. Healthy snacks are available in the convenient and portable packs which provide energy boost during hectic work schedules. Healthy snacks packates are easy to handle and also easy to transport that helps to boost market growth in the forecast period. Attractive packaging of the healthy snacks also helps to boost market growth in the forecast period.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global healthy snacks market is segmented based on product, distribution channel and region.
Owing to shelf life and health benefits of dried fruits segment accounted largest market share in the market
Raisins, dates, prunes, figs and apricots, almonds are some of the dried fruits which are more popular. All these have high nutritional value. These dried fruits are rich source of protein, carbohydrates, sugars, fibers, and pottasium. Thse dried fruits are rich source of antioxident propertise which includes anthocyanins, catechins and phenols. These are good for the heart disease, cancer and type 2 diabetes. Dried fruits contains less water so they are more concentrated source of vitamins and mineralscompared to other fruits. It gives important support to the digestive functionsand slow down the rate of digestion. Increase in the consumption of dried fruits allover the world owing to the increase in health benefits of consumption helps to boost market growth in the forecast year.Increase in the dried fruits products availability in the market helps to boost sales of the product. Increase in the product launches by major key players helps to boost segment growth in the forecast period. For instance, in May 2022, VKC Nuts launched pasteurized nuts and dry fruits in the market. Bactopure is Indias first and only range of pasteurized nuts and dried fruits under brand name Nutraj. In February 2022, Dabur India launched party snacks and dry fruits in the market. In April 2020, Benguluru based company Bhooka Haathi launched Dry-Fruit based New Mom Nutrition specially for mothers.
Geographical Analysis
The strong presence of major players and increased health benefit awareness in North America
North America accounted largest market share due to the increasing disposable income of the consumers and awareness health benefits of healthy snacks. United States and Canada are the major share holding countries in the region due to the shifting in consumers behaviour for healthy eating. Increase in the number of supermarkets,hypermarkets and convenience stores are also helps to boost the sales of healthy snacks. To increase their online presence, these convenience stores are working with delivery services. Also increase in the online shopping trend in the region helps to boost regional growth in the forecast period. Increase in the product launches by major key players helps to boost regional growth in the forecast period.For instance, in July 2022, The Greater Goods Snacking Co. launched new cracker, cookie, biscotti brand in the United States. The cracker varieties include Tangy Tomato & Basil, Caramelized Onion and Sea Salt flavors, while the cookie product line consists of Cinnamon Snickerdoodle, Chocolate Chip and Chai Spice flavors. Greater Goods’ crackers and cookies will retail at $4.99, varying by location. The brand will also be launching biscotti in the following flavors: Orange Cranberry, Dark Chocolate Sea Salt and Double Dark Chocolate Pistachio and will retail for $5.49, depending on location.
Competitive Landscape
The major global players in the market include Kind LLC, B&G Foods Inc., Hormel food corporation, Mondelez International, General Mills Inc., Tyson food Inc., The Kellogg Company, PepsiCo Inc., Nestle S.A, and Unilever Plc.
Why Purchase the Report?
- To visualize the global healthy snacks market segmentation based on product, distribution channel and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of healthy snacks market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as excel consisting of key products of all the major players.
The global healthy snacks market report would provide approximately 53 tables, 51 figures and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors
- Research Professionals
- Emerging Companies