Authored By: Sarah
11 Jul 2024

 Healthy Snack Market Size to grow by USD 34.01 million between 2024-2028

According to a research report “ Healthy Snack Market” by Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Online) Product (Savory, Bakery, Fruit, Dairy, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 34.01 million, at a CAGR of  6.21% during the forecast period. The global economy has witnessed a significant rise in disposable income, as evidenced by a USD89.7 billion (0.5%) increase in the US disposable personal income (DPI) in March 2022, according to the US Bureau of Economic Analysis (BEA). This trend is not limited to developed economies, as the Organization for Economic Co-operation and Development (OECD) reports an increase in household disposable income across all member countries since 2021. Factors such as dual household income growth, per capita income expansion, and a burgeoning employment rate have fueled this income surge. The anticipated continuation of this trend is poised to amplify consumer spending and purchasing power on the global market, particularly within the healthy snack sector.

Browse market data tables, figures, and in-depth TOC on “Healthy Snack Market” by Distribution Channel (Supermarkets and hypermarkets, Convenience stores, Online) Product (Savory, Bakery, Fruit, Dairy, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Supermarkets and hypermarkets segment is projected to dominate the market size in 2024

The savory snack market is experiencing significant growth due to the increasing consumer preference for healthier food options and the convenience of on-the-go snacking. Factors such as changing lifestyles, hectic work schedules, and the rising popularity of protein-rich foods are driving this trend. Protein-rich savory snacks, including beef jerky, savory-flavored protein bars, and roasted chickpeas, are gaining popularity among health-conscious consumers. The concept of protein snacking is becoming increasingly popular, and this trend is expected to continue driving demand for savory snacks throughout the forecast period.

By Product, Savory  segment is expected to hold the largest market size for the year 2024

In the healthy snack market, supermarkets and hypermarkets emerge as the dominant distribution channels due to their ability to offer a vast selection of products, attractive discounts, and an enhanced shopping experience. The strategic use of appealing shelf displays entices consumers to purchase healthy snacks from these retail outlets. Additionally, supermarkets and hypermarkets boast high product volumes, granting them significant buying power. This advantage enables them to price their products competitively, providing consumers with discounted rates that are difficult for rivals to match. Consequently, the preference of consumers is expected to lean towards supermarkets and hypermarkets throughout the forecast period.

North America is forecasted to hold the largest market size by region in 2024

The North American region dominates the global healthy snack market, driven by a significant consumer preference for healthier food options. Key product categories, including savory, bakery, fruit, and dairy snacks, hold substantial market share in this region. Supermarkets, hypermarkets, convenience stores, and online distribution channels serve as primary distribution channels for these products. The increasing online consumer base and robust distribution infrastructure in North America will propel the growth of the healthy snack market during the forecast period. Furthermore, the burgeoning millennial population's affinity towards convenient and health-conscious snacking trends is a significant market driver.

The Healthy Snack Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • B and G Foods Inc.
  • Calbee Inc.
  • Campbell Soup Co.
  • Danone SA
  • Del Monte Foods Inc.
  • DFM Foods Ltd.
  • Dole Packaged Foods LLC
  • General Mills Inc.
  • Happytizers Pvt Ltd
  • Hormel Foods Corp.
  • Kellogg Co.
  • LT Foods Ltd.
  • Mondelez International Inc.
  • Monsoon Harvest
  • Nestle SA
  • PepsiCo Inc.
  • Select Harvests Ltd.
  • Sun Maid Growers of California
  • The Hain Celestial Group Inc.
  • Tyson Foods Inc.
  • Warrell Corp.
.

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Research Analysis Overview

The healthy snack market is experiencing significant growth as consumers increasingly prioritize their health and wellness. E-commerce platforms have made it easier than ever to access a wide range of healthy food products, from the Real Réal Range and DaburIndia to CLIF Thins and HUNGRY. Novel packaging techniques and preservation advancements have extended the shelf life of these snacks, making them quick and affordable options for meeting daily nutritional needs. Processing methods have evolved to include raw material use, ensuring that snacks maintain their nutritional value. The snacks industry now offers a diverse range of products, including nuts and seeds, personalized nutrition offerings, and wellness programs. Brands like Mondelēz International, Popeas, and Nourish Organics are catering to changing snacking habits and consumer interest in lifestyle-related ailments. With the convenience of e-commerce and the appeal of healthy, tasty snacks, it's no wonder that the market for healthy snacks continues to thrive.

Market Research Overview

The snack industry has witnessed a significant shift towards healthy and convenient options, with dried fruit snacks, meat snacks, trail mixes, nuts, and seeds gaining immense popularity. These snacks offer easy consumption, high-protein content, and are often preservative-free and additive-free, making them clean-label snacks preferred by health-conscious consumers. Technological advancements in preservation, moisture retention, and binding capacity have ensured shelf stability and longer product life. Whole grains, crispiness, and texture are essential factors in the production of these snacks. Restraining factors like nutrient deficiencies, chronic diseases, and stressful days have fueled the demand for snacks that provide instant satiety and on-the-go nutrition. The snack industry caters to this need by offering a diverse range of healthy food products, including Real Range, DaburIndia, CLIF Thins, HUNGRY, NatureBox, and more. The trend towards healthy eating, hectic workdays, and weight management has led to the rising popularity of convenient foods like protein bars, plant-based yogurts, nutritional supplements, and functional ingredients like pea protein, soy protein, and whey protein. The snack industry is continuously innovating with novel packaging techniques, preservation advancements, and processing methods to cater to consumers' daily nutritional needs. Brands like Popeas, Nourish Organics, and Beyond Meat offer keto-friendly, paleo, omega-3, probiotic, and prebiotic snacks, while personalized nutrition and snacking habits continue to shape the market. The convenience of ready-to-eat food, panic buying, and e-commerce platforms have expanded distribution network channels, making healthy snacks accessible to a wider audience. Overall, the snack industry is focused on providing quick, affordable, and healthy food products that cater to consumers' consumption patterns and contribute to their overall health and wellness.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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