IMARC Group, a leading market research company, has recently released a report titled “Healthy Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The study provides a detailed analysis of the industry, including the healthy snacks market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Healthy Snacks Market?
The global healthy snacks market size reached US$ 81.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 115.9 Billion by 2028, exhibiting a growth rate (CAGR) of 5.94% during 2023-2028.
What are Healthy Snacks?
Healthy snacks are food items packed with nutrients and consumed between meals to maintain a well-balanced diet and provide improved energy to the consumer. They consist of whole grain crackers, oats, granola bars, meat snacks, muesli, roasted chickpeas, mixed nuts, smoothies, veggies, and fresh fruits such as apples, bananas, and berries. In addition, they are rich in essential minerals, fibers, proteins, healthy fats, vitamins, and carbohydrates. Moreover, they are portable, convenient, cost-effective, delicious, and can be easily carried around, offering nutritional fulfillment. They also improve diet quality, provide low-calorie options, prevent dehydration, and enhance physical performance, immunity, brain power, and digestion while curbing hunger. Consequently, healthy snacks are easily available in supermarkets, hypermarkets, online, convenience, and specialty stores, across the globe.
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What are the growth prospects and trends in the healthy snacks industry?
The market is primarily driven by the rising health awareness among individuals. Additionally, the recent onset of the coronavirus disease (COVID-19) pandemic made consumers more health-conscious regarding their food intake quality, contributing to the market growth. In line with this, the increasing demand for quick, convenient, on the go-healthy snacks due to the busy lifestyles and work schedules of individuals to prevent ailments is influencing the market growth. Nowadays, consumers are inclined toward staying in shape, training at higher intensities for a long time, and enjoying enhanced health. Moreover, the introduction of plant-based, gluten-free, and organic snack options to meet the growing demand from individuals with lactose intolerance and celiac diseases represents another major growth-inducing factor. Besides this, the introduction of baked chips made from natural ingredients such as ragi, vegetables, and soya, which are low in multigrain, non-genetically modified organisms, low in fat, and high in protein, are accelerating the product adoption rate. Along with this, the rising demand for healthy snacks as an alternative to dinner by the working-class population and college graduates as they help satisfy their appetite and prevent overeating during meals, is propelling the market growth. Apart from this, the healthy snacks market is growing at different rates in numerous regions, with North America being the largest market due to several product innovations, increasing expenditure capacities of consumers, and rising health awareness among individual across the region. Moreover, the industry is expected to face competition in the upcoming years as numerous key players are implementing competitive strategies to sustain their presence in the market. For instance, in May 2020, Kellogg Company introduced a new cereal-based snack range, Jumbo Snax, including apple jacks, corn pops, tigers paws, and fruit loops. Furthermore, the launch of sustainable and visually appealing packaging solutions that are portable, lightweight, minimize carbon emissions, and offer features including easy-tear and resealability by leading market players is also creating a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Insights:
- Nuts, Seeds and Trail Mixes
- Dried Fruit Snacks
- Cereals and Granola Bars
- Meat Snacks
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- B&G Foods Inc.
- Danone S.A.
- Del Monte Foods Inc. (Del Monte Pacific Ltd.)
- General Mills Inc.
- Kellogg Co.
- Kind LLC (Mars Incorporated)
- Mondelez International Inc.
- Nestlé S.A.
- Tyson Foods Inc.
- Unilever plc
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