The global healthy snacks market recorded a valuation of USD 95.74 billion in 2022, and it is expected to exhibit strong growth during the forecast period, projecting a Compound Annual Growth Rate (CAGR) of 6.42% through 2028. This growth can be attributed to increasing consumer interest in healthier snack options, driven by rising health and wellness awareness and concerns related to lifestyle-related diseases. As a result, there is a growing demand for convenient, wholesome snacks that are easy to grab on-the-go. In response to this demand, the market has introduced a wide range of innovative and appealing product offerings that cater to these changing preferences. Furthermore, the influence of social media has played a significant role in popularizing healthy eating trends and shaping consumer decisions.
Additionally, businesses are implementing wellness initiatives to promote better snacking practices, contributing to the expansion of the healthy snacks market. The diversification of product offerings and continuous innovation are key drivers of market growth. Manufacturers are striving to meet consumers’ evolving needs and preferences by developing new and creative snack options. This emphasis on innovation includes the use of distinctive flavors, unique ingredients, and incorporation of emerging culinary trends. For instance, in 2023, Nourish Organics, a prominent clean label and superfoods company, introduced Popeas, which is considered the healthiest pack of chips. It boasts 12g of protein, is baked (not fried), 100% clean label, and organic, catering to various dietary requirements such as vegan and gluten-free.
Changing eating habits, increasing disposable income, longer work hours, and stressful corporate lifestyles have led to a shift in consumer behavior towards increased snacking. Traditionally, snacks were associated with unhealthy options due to their high oil and sugar content, posing significant health risks such as obesity, high blood sugar, and hypertension. However, recent changes in consumer behavior indicate a shift away from fatty and spicy foods towards healthier, sugar-free, and portion-controlled snacks. This transformation is a significant trend driving the industry’s growth.
Personalized healthy snacks are gaining ground in the global market as consumers seek snacks that align with their lifestyle, dietary preferences, and health needs. Personalized nutrition is becoming increasingly popular, leading to snacks designed for specific dietary requirements, including cholesterol- and keto-friendly options, mood-enhancing snacks, gut health support, and those promoting better sleep. For example, PepsiCo and Beyond Meat introduced their first plant-based product, Meatless Jerky, in March 2022, as part of their PLANeT Partnership, focusing on creating wholesome plant-based snacks and beverages.
Key Market Drivers
1. Rising Health Awareness and Wellness Trends
The healthy snacks market is driven by a growing emphasis on health and wellness. Consumers are increasingly health-conscious and actively seek ways to make healthier dietary choices. Maintaining a balanced lifestyle, preventing chronic diseases, and managing weight are top priorities, leading individuals to seek snack options that align with their health goals.
2. Convenience and On-the-Go Lifestyles
Modern, busy lifestyles, characterized by limited time for meal preparation, have fueled demand for convenient snacking options. Consumers are gravitating towards healthy snacks that are portable, pre-packaged, and ready to eat, providing quick and nourishing alternatives to traditional junk food.
3. Innovation and Product Diversity
The healthy snacks market thrives on innovation, with manufacturers continuously introducing unique, tasty, and nutrient-dense offerings. These innovations include new ingredients, processing techniques, and packaging solutions, resulting in a wide range of healthy snack options catering to specific dietary needs.
4. Evolving Taste Preferences and Diverse Palates
The market has experienced a proliferation of flavor profiles, ingredient combinations, and global culinary influences. Consumers are increasingly adventurous in their food choices, leading snack manufacturers to introduce diverse and unique offerings inspired by international cuisines.
5. Demand for Nutrient-Dense Options
Health-conscious consumers are seeking snacks that offer a nutritional punch, including a balanced combination of macronutrients, vitamins, minerals, and other beneficial compounds. Snacks rich in fiber, protein, healthy fats, and antioxidants are popular choices as they provide sustained energy and satiety while supporting overall health.
Key Market Challenges
1. Balancing Health and Taste
Striking the right balance between health and taste remains a primary challenge in the healthy snacks market. While consumers seek snacks that offer health benefits, taste remains a critical factor in purchase decisions. Manufacturers must create products that are both healthy and appealing, often requiring innovative formulation and the use of natural ingredients.
2. Shelf Stability and Packaging
Maintaining shelf stability without resorting to artificial preservatives is a significant challenge. Packaging also plays a crucial role, as sustainable packaging materials sometimes fail to provide the necessary barrier protection to preserve the freshness of healthy snacks.
3. Technological & Processing-related Challenges
The processing of healthy snacks presents challenges related to texture, moisture retention, and ingredient compatibility. Clean-label snacks without additives or preservatives can create challenges in achieving desired textures and qualities. Ongoing technological advancements are expected to address these issues.
4. High Cost of Healthy Snacks
The higher cost of healthy snacks compared to less healthy options can be a deterrent for price-sensitive consumers. Perceptions of healthy snacks as expensive may limit accessibility, particularly for lower-income individuals or families.
Key Market Trends
1. Plant-Based and Clean Label
Plant-based snacks made from minimally processed plant ingredients are gaining popularity. Clean label products – those with simple, recognizable ingredients – are in demand as consumers scrutinize ingredient lists for artificial additives, preservatives, and excessive sugars. Snacks are enriched with functional ingredients like superfoods, probiotics, and adaptogens.
2. Snacking with Purpose
Consumers seek snacks that align with their values and lifestyles, leading to the rise of snacks catering to specific dietary preferences, sustainability, social responsibility, and ethical sourcing. Smaller, more frequent snack-based meals throughout the day are replacing traditional meals.
3. Rise in E-Commerce
E-commerce platforms have transformed how consumers access and purchase healthy snacks. These platforms offer convenience, accessibility, and a wide variety of snack options, allowing brands to introduce unique flavors, ingredients, and formats that may not be available in physical stores.
In 2022, savory snacks dominated the healthy snacks market with the largest market share. Savory snacks appeal to working-class individuals and recent college graduates seeking wholesome alternatives to traditional dinners, enabling them to satisfy their appetites without overeating. Manufacturers are developing baked chips that are natural, non-GMO, multigrain, low in salt, and offer various health benefits, including those made with ingredients like ragi, soya, and vegetables.
Healthy fruit snacks, on the other hand, are expected to experience the fastest growth over the forecast period. Fruit bars, in particular, continue to drive innovation in the market. These bars come in various fortified options, including omega-3, prebiotic, probiotic, keto, and paleo, catering to diverse dietary preferences. Ingredients such as pea protein, whey, and soy proteins are being incorporated into bars to boost protein levels.
Bags and pouches held the majority of the market share in 2022 due to their ease of packaging and handling. These packaging options are ideal for on-the-go snacking, as they are easy to open, reseal, and lightweight. Bags and pouches effectively protect snacks, preserving their flavor and freshness. Transparent or windowed designs enhance visibility and appeal to consumers, empowering them to make informed choices. Their adaptability in accommodating various snack varieties, cost-effectiveness, and sustainability attributes contribute to their popularity as the preferred packaging option in the snacking sector.
North America led the global market in 2022, driven by increased demand for nutritious snacks in the United States, particularly during the COVID-19 pandemic. Consumers in the United States are focusing on healthier snacks to reduce health concerns associated with excessive snacking. The rapid expansion of supermarkets, hypermarkets, and convenience stores has also contributed to the growth of the healthy snacks market in the region. Convenience stores are partnering with delivery services to expand their reach and offer healthier snack options.
Key Market Players
The Kellogg Company
Hormel Foods Corporation
Dole Packaged Foods, LLC.
Del Monte Foods, Inc.
In this report, the global healthy snacks market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Healthy Snacks Market, By Product:
–Frozen & Refrigerated
• Healthy Snacks Market, By Packaging:
–Bags & Pouches
• Healthy Snacks Market, By Sales Channel:
• Healthy Snacks Market, By Region:
· United States
· United Kingdom
· South Korea
–Middle East & Africa
· South Africa
· Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in the Global Healthy Snacks Market.
Global Healthy Snacks Market report with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).