According to a report, “ Healthy Snacks Market Size, Share & Trends Analysis Report By Product (Dried Fruit, Cereal & Granola Bars, Nuts & Seeds, Meat, Trail Mix), By Region, Vendor Landscape, And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,The global healthy snacks market size is expected to reach USD 32.88 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% during the forecast period. Increasing awareness regarding health and wellness benefits offered by the product among consumers is likely to be a key trend driving the market.
The consumption of healthy snacks is growing on account of their ability to meet various dietary requirements such as sugar-free, low salt content, and low cholesterol levels. However, high cost of production due to volatile prices of raw materials is expected to negatively influence the growth of the market over the forecast period.
Growing purchasing power parity, which has increased immensely in the past few years, is anticipated to fuel the demand for meat snacks in the upcoming years. This factor, in turn, is projected to boost the growth of the market during the forecast period.
Europe is the leading regional market in the healthy snacks market. A wide base of youth population in the region along with high spending power of the populace is stoking the growth of the regional market. Healthy snacks provide grab-and-go option coupled with convenience to meet the needs of customers.
Further key findings from the report suggest:
- In terms of revenue, the meat snacks segment is projected to expand at a CAGR of 5.4% over the forecast period
- Cereal & granola bars dominated the healthy snacks market with a global revenue share of over 36.0% in 2018
- Companies in Europe are focusing on increasing sales of healthy snacks by attracting more customers with innovative and eye-catching products
- Rising consumption of dried fruit snacks by customers due to changing lifestyles is likely to fuel growth over the next seven years
- Market players are focusing on developing healthy snacks in compliance with stringent USFDA and EU standards, especially in North America and Europe
- Emerging economies such as India, China, Brazil, Indonesia, and Malaysia are witnessing a paradigm shift in consumer buying behavior due to rising national income and its benefits on disposable income of households
- Major industry players aim to achieve optimum market growth and strengthen their presence through various market expansion strategies such as new product development, joint-ventures, and acquisitions
- Some of the key companies present in the industry are Nestlé S.A.; PepsiCo, Inc.; The Kellogg Company; Tyson Foods, Inc.; General Mills, Inc.; Mondelēz International; Hormel Foods Corporation; Kind LLC; and Select Harvests.
Regional Insights
North America is poised to be one of the prominent regional markets for healthy snacks during the forecast period. Changing habits of consumers such as snacking in between regular meals or snacking instead of meals along with an increase in preference for healthy substitutes are projected to escalate the demand for the product in the region.
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The demand for cereal and granola bars is strong in the region. It commanded 35.0% of the overall market revenue in the region in 2018. Cereal bars are widely consumed across North America due to several flavors available and discounts offered along with attractive packaging used to attract & retain new customers.
Furthermore, changing perceptions of consumers in the U.S towards diet patterns are leading to an increase in consumption of healthy snacks. On-the-go-lifestyle of working population in the country is anticipated to spur market growth over the upcoming years. Convenience and easy to carry options offered by healthy snacks are also promoting the growth of the market in the country.
Asia Pacific is estimated to be the most promising destination in the global arena during the forecast period. Rising demand for the product in the region can be attributed to modernization and growing need for on-the-go snacking options in emerging economies such as China and India. Changing consumer lifestyles in developing countries, owing to rise in disposable income, are further expected to bode well for the regional market over the next few years.
Grand View Research has segmented the global healthy snacks market on the basis of product and region:
Healthy Snacks Product Outlook (Revenue, USD Million, 2014 – 2025)
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Cereal & Granola Bars
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Nuts & Seeds Snacks
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Meat Snacks
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Dried Fruit
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Trail Mix Snacks
Healthy Snacks Regional Outlook (Revenue, USD Million, 2014 – 2025)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Spain
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Asia Pacific
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China
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India
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Japan
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Australia
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Indonesia
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Thailand
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Malaysia
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Vietnam
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Singapore
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Philippines
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Cambodia
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Myanmar
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Brunei
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Laos
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Central & South America
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Brazil
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Middle East & Africa
Browse Related Report:
Functional Foods Market – Functional ingredients such as omega-3 and probiotics are highly used in fish oils and yogurt to reduce the risk of cardiovascular diseases and to improve the quality of intestinal microflora. Such a trend is expected to fuel the market over the forecast years.
Stevia Market – Rising demand for natural sweeteners, especially in beverages, is expected to increase demand in the near future. Increasing market penetration in the food industry on account of its superior sweetening properties is expected to propel growth of stevia market.
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