Healthy Snacks Industry Overview
The global healthy snacks market size was valued at USD 85.6 billion in 2021 and is expected to reach USD 152.5 billion by 2030, registering a CAGR of 6.6% from 2022 to 2030.
The healthy snack market has soared in recent years, especially since the global pandemic. As customers become more health-conscious, the need for nutritional yet delicious products has been booming. Furthermore, the increasing development in the supply chain of products is driving market growth. Major supermarket chains are now collaborating with third-party online delivery companies to expand their operations to include e-commerce channels.
Gather more insights about the market drivers, restrains and growth of the Global Healthy Snacks Market
The COVID-19 pandemic altered people’s attitudes toward eating. People found themselves eating the majority of their meals at home while out-of-home dining opportunities were limited by stay-at-home mandates. Consumers want to stay in good shape so they can prevent illnesses, train at higher intensities for longer periods of time, and enjoy improved health. Hence, recent innovations in numerous healthy snack niches are on the rise, and this trend is inspired by customers’ preferences for snacks that deliver on health, convenience, and taste.
The rise in disposable income, along with a corporate culture of long work hours and stressful lifestyles, has led to a shift in eating patterns. Snacks have historically been seen to be unhealthy due to their high oil and sugar content, and hence are a major contributor to health problems such as obesity, high blood sugar, and hypertension. However, due to a recent shift in consumer behavior, the demand is fast shifting away from oily-spicy products and toward healthier, sugar-free, and low-calorie snacks packaged in small portions. This is a significant trend driving industry growth.
New-age customers want nutritious, on-the-go, and economical snacking options that suit their nutritional needs while also satisfying their taste buds. According to a 2020 study by Mondelēz International, nearly 59% of adults throughout the world prefer to consume multiple short meals throughout the day rather than a few larger ones. Snacks that meet stated health and nutrition criteria as well as address age-specific requirements or concerns, such as immunity, digestion, memory, weight loss, or energy are being developed by healthy snacks manufacturers, thereby propelling the market growth.
The healthy snacks industry in the forecast year is expected to be dominated by snacks with intriguing, new flavors and textures, created using sustainable technologies, packed with recyclable materials, and with clean labels. Vegan snacks, zero fats, high/added proteins, whole grains, reduced/zero sugar, zero oil/baked snacks, zero gluten content, and snacks with environmentally friendly packaging are just a few examples of emerging trends in this sector. The number of innovations in the market is continually expanding.
Personalized healthy snacks are another trend that is gaining momentum in the global industry. Snacks that match consumer lifestyle, dietary, and health needs are in high demand. As a result, personalized nutrition is now on the rise. Snacks that are keto-friendly and low in cholesterol, as well as those that are mood-boosting, gut-friendly, and help achieve better sleep, are becoming increasingly popular. For instance, in March 2022, PepsiCo and Beyond Meat launched their first plant-based product, meatless jerky. The companies had entered into a joint venture to develop plant-based healthy snacks and beverages under their PLANeT Partnership.
Healthy Snacks Market Segmentation
Based on the Product Insights, the market is segmented into Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy and Others.
- Healthy savory snacks dominated the product segment in the overall market. The demand for this segment is driven by working-class people and college graduates, for whom healthy savory snack products have emerged as a dinner alternative.
- Healthy fruit snacks are expected to showcase the fastest growth. Fruit bars are still at the forefront of innovation in the healthy snacks market.
Based on the Distribution channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online and Others.
- The supermarkets & hypermarkets accounted for the major share of the global market in 2021. Furthermore, instant delivery services are gaining momentum across the world, and supermarket chains are joining the trend to maximize their value.
- The COVID-19 pandemic has fueled the online distribution channel and is expected to be the fastest-growing segment during the forecast period.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
- North America held the largest market share globally accounting for around 33% of global value in 2021.
- Asia Pacific is anticipated to become the fastest-growing region in the global market.
Market Share Insights:
- January 2021: Mondelēz International acquired Hu Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients
- February 2020: B&G Foods, Inc. has acquired Farmwise L.L.C., a Massachusetts.-based maker of frozen veggie fries, veggie tots and veggie rings. Farmwise’s frozen veggie snacks are from cauliflower, navy beans and onions. The products are vegan, non-GMO Project verified and free of major allergens, including gluten, wheat, soy, dairy, tree nuts and peanuts
Key Companies Profile:
The market is fragmented with the presence of global and regional players offering a variety of snacking options customized to the local palates.
Some of the key players operating in the healthy snacks market include:
- The Kellogg Company
- Mondelēz International
- Hormel Foods Corporation
- Dole Packaged Foods, LLC.
- Del Monte Foods, Inc.
- Select Harvests
- B&G Foods
- Monsoon Harvest
Order a free sample PDF of the Healthy Snacks Market Intelligence Study, published by Grand View Research.
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