Authored By: Sarah
22 Aug 2024

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

Technavio, a leading provider of market research reports, has released its latest study on Healthy Snack Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

  • Market Research Overview: The global healthy snack market is a significant segment of the larger packaged foods and meats market, which falls under the food products sector of the comprehensive food, beverage, and tobacco industry, according to Technavio's market classification. The packaged foods and meats market encompasses food processing companies that focus on eliminating microorganisms and extending product shelf life. Technavio calculates the market size based on the consolidated revenue generated by the participating vendors, excluding those that manufacture food processing equipment. Notably, this market does not cover producers of packaged alcoholic and non-alcoholic beverages, including mineral waters. - The Healthy Snack Market is experiencing significant growth, fueled by the Rise in disposable income and change in lifestyle. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

  • Major Findings:
    • Rise in disposable income and change in lifestyle
    • Evolving taste preferences among end-users
    • Price fluctuations in raw materials used in production of healthy snack
    • Availability of other snack options
  • Growth Projections

The market size is estimated to grow by USD 34.01 million, at a CAGR of 6.21% during the forecast period. The global e-commerce sector has experienced significant growth due to increasing internet penetration and the convenience it offers, with major players like Alibaba, Amazon, and Flipkart driving this trend. In the US alone, e-commerce sales accounted for over 20% of total retail sales in 2020, up from 15% in 2019 (US Department of Commerce). This surge in online shopping is attributed to factors such as ease of purchase, simplified product discovery, competitive pricing, and personalized offers. For snack suppliers, this digital shift presents an opportunity to expand their reach, enhance customer relationships, and boost sales through increased product visibility online. By establishing an online presence, manufacturers and distributors can effectively cater to the growing demand for convenient and personalized shopping experiences.

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  • Regional Insights

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.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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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