Copyright © 2022 StrategyHelix Inc. All Rights Reserved.
Global Healthy Snacks Market Research Report Forecast to 2030
The healthy snacks market had a value of USD 64.01 billion in 2021 and is projected to reach USD 106.55 billion by 2030, with a compound annual growth rate (CAGR) of 6.82% during the forecast period (2022-2030). The market growth is primarily driven by increasing consumer awareness of the nutritional benefits associated with healthy snacks, such as their high protein, vitamin, and low-calorie content.
One key factor contributing to the expansion of the healthy snacks market is the growing consumer preference for convenient, ready-to-eat foods and on-the-go snacking. According to Mondelz International’s state of snacking research, approximately 59% of adults worldwide prefer to consume smaller meals more frequently throughout the day, rather than a few larger meals. These lightweight and portable snack packs provide an energy boost during busy workdays. Consequently, the rising trend of on-the-go snacking has significantly contributed to the increased CAGR of the healthy snacks market in recent years.
|No. of Pages||
USD 64 billion in 2020
Product Type, Claim, Packaging, and Distribution Channel, and Region
|No. of Companies Mentioned||
Additionally, the emergence of custom healthy snacks is another notable development in the industry. Personalized nutrition has gained popularity, leading to the demand for snacks that cater to specific dietary preferences and health needs. Snacks that are cholesterol- or keto-friendly, improve mood, promote gut health, or aid in better sleep are becoming increasingly popular. For example, in March 2022, PepsiCo and Beyond Meat introduced vegetarian jerky as their first plant-based product through their PLANeT Partnership. This joint venture aims to develop wholesome plant-based snacks and beverages. The growing demand for personalized snacks has therefore become another significant driver of revenue growth in the healthy snacks market.
The market is segmented based on various factors, including product type, claim, packaging, and distribution channel, and region.
Segmentation by Product Type
Segmentation by Claim
Segmentation by Packaging
Segmentation by Distribution Channel
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific – China, Japan, India, South Korea, Australia, Rest of Asia-Pacific
Rest of the World – Middle East, Africa, Latin America
The healthy snacks market can be categorized based on product type, claim, packaging, and distribution channel. In terms of product type, savory snacks are the dominant segment, favored by working-class individuals and recent college graduates who seek wholesome alternatives to dinner. However, the fastest-growing segment is healthful fruit snacks, appealing to all age groups seeking nutritional benefits without compromising taste.
Gluten-free snacks lead the market in the claim category, driven by the increasing prevalence of celiac disease and the demand for healthier options. Sugar-free snacks follow closely behind due to factors such as rising diabetes rates, the popularity of low-calorie foods, and the implementation of sugar taxes.
In terms of packaging, bottles and jars hold the major revenue share, accommodating a wide range of food products. Cans are expected to have the highest growth rate, driven by the popularity of canned meals and beverages in the healthy snacks industry.
Store-based distribution channels currently dominate the market, benefiting from the widespread presence of supermarkets and hypermarkets. However, non-store-based channels, including meal delivery services, have gained momentum during the COVID-19 pandemic and are expected to exhibit rapid growth in the future.
Geographically, North America leads the healthy snacks market, driven by evolving consumer eating patterns and a preference for healthier substitutes. Europe holds the second-largest market share, with Germany being the largest market for organic and natural foods. The Asia-Pacific region is projected to experience the fastest growth, attributed to increasing demand for healthier products and the popularity of prebiotics and probiotics.
Major market players are making significant investments in research and development (R&D) to expand their range of products, thereby driving further growth in the healthy snacks market. These players are also undertaking strategic initiatives such as introducing new products, entering contractual agreements, engaging in mergers and acquisitions, increasing investments, and collaborating with other organizations to expand their market presence. In an increasingly competitive sector, competitors in the healthy snack industry recognize the importance of offering cost-effective products in order to thrive and succeed.
One of the primary business strategies employed by manufacturers in the healthy snack industry to benefit customers and foster market development is local manufacturing to reduce operational costs. Notably, the healthy snack industry has yielded significant health benefits in recent times. Key players in the healthy snacks market, including Danone S.A. (France), L T Foods (India), Sun-Maid (US), General Mills Inc. (US), and others, are actively funding R&D initiatives to drive market demand.
General Mills, Inc. is an American manufacturer and marketer of branded processed consumer foods distributed through retail outlets. Operating in over 100 countries, General Mills promotes more than 100 consumer brands including Cheerios, Nature Valley, Betty Crocker, Yoplait, Annie’s Homegrown, Old El Paso, Epic Provisions, Blue Buffalo, and others. In July 2022, General Mills introduced a new nutritious snack called CinnaFuegoToast Crunch, which combines sweet cinnamon flavor (Cinnadust) with a hint of hot pepper flavoring and can be enjoyed with milk.
The Kellogg Company, also known as Kellogg’s, is an American food manufacturing company headquartered in Battle Creek, Michigan. Kellogg’s specializes in producing cereals and convenience foods such as crackers and toaster pastries, sold under various well-known brand names including Corn Flakes, Rice Krispies, Frosted Flakes, Pringles, Eggo, and Cheez-It. In January 2021, the Kellogg Company launched Kellogg’s Special K Keto-Friendly Snack Bars. These snack bars, available in Chocolate Almond Fudge and Peanut Butter Fudge flavors, offer a delightful taste combination while catering to individuals following a keto-friendly diet and seeking satisfying snacks to curb their cravings.
Key companies profiled in this report include General Mills Inc (US), Dole Food Company Inc (US), Sun-Maid (US), Bel Brands USA Inc. (US), Medifast Inc (US), Mondelez International Inc (US), No Limit LLC (US), L T Foods (India), Danone S.A (France).
Recent Industry Developments
In January 2022, Mondelez International, Inc. successfully concluded its acquisition of Chipita S.A., a prominent player in the baked nibbles and croissants market across Central and Eastern Europe. This acquisition marks a significant milestone in Mondelez’s business strategy, focusing on driving growth in key snacking categories while expanding its presence in critical regions.
In June 2021, General Mills Inc. introduced a new snack brand called Good Measure, specifically designed for consumers who are conscious about the impact of food on their blood sugar levels, particularly individuals with diabetes and pre-diabetes. Good Measure launched two products: Creamy Nut Butter Bars and Crunchy Almond Crisps, both sweetened with allulose.
Key Questions Answered
What is the valuation of the healthy snacks market?
What is the compound annual growth rate (CAGR) of the healthy snacks market?
Which region dominated the healthy snacks market in terms of market share?
Who are the key players in the healthy snacks market?
Which product type spearheaded the growth of the healthy snacks market?
Which claim held the largest market share in the healthy snacks market?