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Healthy Snacks Market by Type (Cereal & Granola Bars, Nuts, Meat, Biscuits, Cookies), Product Claim (Gluten free, Low fat), Packaging Type (Wraps, Boxes), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores) - Global Forecast to 2029
Report ID: MRFB - 104708 Pages: 202 Dec-2022 Formats*: PDF Category: Food and Beverages Delivery: 2 to 4 Hours Download Free Sample ReportThe growing health consciousness among consumers, the rising demand for functional/healthy foods, and the increasing popularity of convenience foods & on-the-go snacking are the key factors driving the growth of the healthy snacks market.
Furthermore, the emerging economies in Latin America, Asia, and the Middle East & Africa and the increasing sales of products through online channels are expected to provide significant opportunities for the players operating in this market.
The COVID-19 outbreak caused by the SARS-CoV-2 virus created a severe public health emergency globally, with its quick spread across more than 150 countries. The WHO declared it a health emergency, and several countries announced complete nationwide, statewide, or citywide lockdowns, halting all travel, transport, manufacturing, and non-essential trade, significantly impacting many industries globally. However, the pandemic positively impacted the healthy snacks market.
The consumption of healthy snacks accelerated during the pandemic as the national lockdowns forced people to stay home. Furthermore, during the lockdowns, there was an increase in the sales of healthy snack food products due to their longer shelf life. Additionally, e-commerce platforms selling these products have witnessed significant traction in recent years. The increasing accessibility to these products drives the demand for healthy snack products. Furthermore, the preference for more healthy snacking options has increased among consumers. Hence, the pandemic positively influenced the demand for cereal & granola bars, nuts & seeds snacks, biscuits & cookies, and trail mix snacks, among others.
The COVID-19 pandemic moderately affected the demand for healthy snack food due to disruptions in supply chains. However, these effects were temporary and gradually reduced without substantially affecting the healthy snacks market.
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Consumer demand for convenience foods has grown substantially over the past several decades. Consumers are more inclined toward convenience food products, such as biscuits & cookies, meat snacks, and beverages, due to their instant nature, eliminating the preparation and handling time of the food. The demand for dinner-time solutions by present-day consumers is increasing rapidly as the meal consumption behavior of consumers is shifting drastically. There is an increase in the number of individuals who lack the time and skill to prepare food in their homes, resulting in many consumers adopting ready-to-eat food products. In addition, the convenience trend in the U.S. and China is not a short-term phenomenon but a dietary mainstay. Increasing urbanization will likely help the convenience movement gain further traction.
More than half of the world’s population lives in urban areas, and virtually all the countries worldwide are becoming increasingly urbanized. According to the United Nations World Urbanization Report, the urban population of the world has grown rapidly from 439,498,772 in 2015 to 471,031,528 in 2019, which shows that almost 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. As a result, urban consumers are gaining exposure to a much wider choice and better food availability than those living in rural areas. Also, this urbanization trend contributes significantly towards improved living standards and rising incomes, which influences the affordability of convenience foods & on-the-go snacking to a greater extent.
Furthermore, with the increasing urbanization, the demand for convenience food products is also increasing rapidly, mainly due to factors such as changing lifestyles, a rising number of nuclear families, an increasing working proportion, and the growing number of individuals with less time for food preparation. These factors result in the accelerated demand for healthy snacks due to their benefits, such as easy availability and long shelf life.
In addition, on-the-go snacking provides quick nutrition and the feeling of satiety in a busy schedule. According to the ‘State of Snacking’ report by Mondelēz International, in 2019, approximately 59% of adults worldwide reportedly prefer to eat more small meals throughout the day as opposed to a few longer ones, with younger consumers leaning into snacks over meals accounting to 7 in 10 among millennials (70%).
Consumers also perceive snacks as part of healthy diets, attributed to their controlled portions. The convenient and portable packaging provides a small energy boost during a hectic workday. The emerging trend of healthy eating contributes to the evolution of the snack industry by encouraging companies to provide various healthy snack products that fulfill the growing need for on-the-go nutrition. This trend is likely to continue in the coming years, boosting the consumption of convenience foods & on-the-go snack products and driving the growth of the healthy snacks market.
Based on type, in 2022, the cereal & granola bars segment is expected to account for the largest share of the healthy snacks market. The large market share of this segment is attributed to the rising consumption of healthy packaged food products, changing dietary patterns, the increasing number of convenience stores, and the rising incidence of diabetes, cardiovascular diseases, and obesity.
However, the meat snacks segment is projected to witness significant growth during the forecast period. The growth of this segment is driven by the growing global consumption of meat, rising inclination toward spicy, salty, and specific-flavored snacks, and increasing demand for protein-rich meat products due to health consciousness among consumers.
Based on product claim, in 2022, the gluten-free segment is expected to account for the largest share of the healthy snacks market. The large market share of this segment is attributed to the rising incidence of celiac disease, the health benefits associated with gluten-free products, the growing prevalence of irritable bowel syndrome (IBS), and the increasing demand for gluten-free products among millennials. This segment is also projected to register significant growth during the forecast period due to the rising awareness about the negative effects of gluten and the rising incidence of celiac disease.
Based on packaging type, in 2022, the wraps segment is expected to account for the largest share of the healthy snacks market. The large market share of this segment is attributed to the rising demand for on-the-go and fast food due to busy lifestyles and expanding food packaging industry. In addition, wrapped packaging keeps the food fresh and warm for a longer period and makes it easy to store, resulting in the increased demand for this type of packaging.
Based on distribution channel, in 2022, the supermarkets & hypermarkets segment is expected to account for the largest share of the healthy snacks market. The large market share of this segment is attributed to the increased sales of healthy food in well-established supermarkets and hypermarket chains, consumers’ preference for shopping from brick-and-mortar grocers due to easy access and availability, and the increasing consumer spending on healthy food products.
However, the online channels segment is projected to register significant growth during the forecast period. The growth of this segment is attributed to the growing preference for personalization, the convenience offered by online channels, the availability of greater discounts compared to offline stores, and a greater product selection experience.
Asia-Pacific: Fastest-growing Regional Market
Based on geography, in 2022, North America is expected to account for the largest share of the healthy snacks market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major market share of North America is attributed to its well-established food industry, the growing health awareness among consumers, the increasing prevalence of celiac disease, the growing demand for gluten-free healthy snacks, the rising demand for clean-label healthy snacks, and the easy availability of healthy snacks at grocery stores.
In addition, customers' changing habits, such as snacking between fixed mealtimes or snacking instead of having proper meals, the rising trend of replacing meals with smaller nutritional snacks, the functional efficiency offered by healthy snacks, and the cost competitiveness offered by plant-based snacks contribute to the growth of this regional market.
However, the market in Asia-Pacific is slated to register the fastest growth rate during the forecast period. The growth of this regional market is driven by changing lifestyles, rising disposable incomes, rapid urbanization & industrialization, emerging healthy food trends, rising awareness about the health benefits of sugar-free healthy snacks, a growing diabetic and obese population, increasing number of people with allergies, rising number of working women, and increasing awareness regarding the importance of protein-rich diets.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the healthy snacks market between 2019 and 2022. The key players profiled in the healthy snacks market report are General Mills, Inc. (U.S.), Mondelēz International, Inc. (U.S.), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Kellogg Company (U.S.), Tyson Foods, Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Hormel Foods Corporation (U.S.), B&G Foods, Inc. (U.S.), Del Monte Foods Inc. (U.S.), PepsiCo, Inc. (U.S.), KIND LLC (U.S.), Danone S.A. (France), and Select Harvests Limited (Australia).
Scope of the Report:
Key Questions Answered in the Report:
This report covers the market sizes & forecasts of the healthy snacks market based on type, product claim, packaging type, distribution channel, and geography. This report also provides the value analysis of various segments and subsegments of the healthy snacks market at the regional and country levels.
The healthy snacks market is projected to reach a value of $152.08 billion by 2029, at a CAGR of 6.5% during the forecast period.
The cereal & granola bars segment is expected to account for the largest share of the healthy snacks market.
Based on distribution channel, in 2022, the supermarkets & hypermarkets segment is expected to account for the largest share of the healthy snacks market. However, the online channels segment is slated to register the fastest growth rate during the forecast period. The growth of this segment is attributed to the growing preference for personalization, the convenience offered by online channels, the availability of greater discounts compared to offline stores, and a greater product selection experience.
This growth of this market is driven by the growing health consciousness among consumers, rising demand for functional/healthy foods, and the increasing popularity of convenience foods & on-the-go snacking. Furthermore, the emerging economies in Latin America, Asia, and the Middle East & Africa and the increasing sales of products through online channels are expected to provide significant opportunities for the growth of this market.
The key players operating in the healthy snacks market include General Mills, Inc. (U.S.), Mondel?z International, Inc. (U.S.), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Kellogg Company (U.S.), Tyson Foods, Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Hormel Foods Corporation (U.S.), B&G Foods, Inc. (U.S.), Del Monte Foods Inc. (U.S.), PepsiCo, Inc. (U.S.), KIND LLC (U.S.), Danone S.A. (France), and Select Harvests Limited (Australia).
Countries from Latin America are projected to offer significant growth opportunities for the vendors in this market due to factors such as the growing population in the region with an appetite for innovative food products, the region’s growing food & beverage processing sector, the increasing meat consumption, the rising demand for organic beverages, consumers’ high focus on health & wellness trends, and the rising number of snack outlets.
Published Date: Aug-2024
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