Healthy Snacks Market By Product (Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, Others), By Packaging (Bags & Pouches, Boxes, Cans, Jars, Others), By Sales Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online, Others), By Region, By Competition Forecast & Opportunities 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationHealthy Snacks Market By Product (Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, Others), By Packaging (Bags & Pouches, Boxes, Cans, Jars, Others), By Sales Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online, Others), By Region, By Competition Forecast & Opportunities 2018-2028F
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 95.74 billion |
| CAGR (2023-2028) | 6.42% |
| Fastest Growing Segment | Savory Snacks |
| Largest Market | North America |
The global healthy snacks market recorded a valuation of USD 95.74 billion in 2022, and it is expected to exhibit strong growth during the forecast period, projecting a Compound Annual Growth Rate (CAGR) of 6.42% through 2028. This growth can be attributed to increasing consumer interest in healthier snack options, driven by rising health and wellness awareness and concerns related to lifestyle-related diseases. As a result, there is a growing demand for convenient, wholesome snacks that are easy to grab on-the-go. In response to this demand, the market has launched a wide range of innovative and appealing product offerings that cater to these changing preferences. Furthermore, the influence of social media has played a significant role in popularizing healthy eating trends and shaping consumer decisions.
Additionally, businesses are implementing wellness initiatives to promote better snacking practices, contributing to the expansion of the healthy snacks market. The diversification of product offerings and continuous innovation are key drivers of market growth. Manufacturers are striving to meet consumers' evolving needs and preferences by developing new and creative snack options. This emphasis on innovation includes the use of distinctive flavors, unique ingredients, and incorporation of emerging culinary trends. For instance, in 2023, Nourish Organics, a prominent clean label and superfoods company, launched Popeas, which is considered the healthiest pack of chips. It boasts 12g of protein, is baked (not fried), 100% clean label, and organic, catering to various dietary requirements such as vegan and gluten-free.
Changing eating habits, increasing disposable income, longer work hours, and stressful corporate lifestyles have led to a shift in consumer behavior towards increased snacking. Traditionally, snacks were associated with unhealthy options due to their high oil and sugar content, posing significant health risks such as obesity, high blood sugar, and hypertension. However, recent changes in consumer behavior indicate a shift away from fatty and spicy foods towards healthier, sugar-free, and portion-controlled snacks. This transformation is a significant trend driving the industry's growth.
Personalized healthy snacks are gaining ground in the global market as consumers seek snacks that align with their lifestyle, dietary preferences, and health needs. Personalized nutrition is becoming increasingly popular, leading to snacks designed for specific dietary requirements, including cholesterol- and keto-friendly options, mood-enhancing snacks, gut health support, and those promoting better sleep. For example, PepsiCo and Beyond Meat launched their first plant-based product, Meatless Jerky, in March 2022, as part of their PLANeT Partnership, focusing on creating wholesome plant-based snacks and beverages.
Key Market Drivers
1. Rising Health Awareness and Wellness Trends
The healthy snacks market is driven by a growing emphasis on health and wellness. Consumers are increasingly health-conscious and actively seek ways to make healthier dietary choices. Maintaining a balanced lifestyle, preventing chronic diseases, and managing weight are top priorities, leading individuals to seek snack options that align with their health goals.
2. Convenience and On-the-Go Lifestyles
Modern, busy lifestyles, characterized by limited time for meal preparation, have fueled demand for convenient snacking options. Consumers are gravitating towards healthy snacks that are portable, pre-packaged, and ready to eat, providing quick and nourishing alternatives to traditional junk food.
3. Innovation and Product Diversity
The healthy snacks market thrives on innovation, with manufacturers continuously introducing unique, tasty, and nutrient-dense offerings. These innovations include new ingredients, processing techniques, and packaging solutions, resulting in a wide range of healthy snack options catering to specific dietary needs.
4. Evolving Taste Preferences and Diverse Palates
The market has experienced a proliferation of flavor profiles, ingredient combinations, and global culinary influences. Consumers are increasingly adventurous in their food choices, leading snack manufacturers to introduce diverse and unique offerings inspired by international cuisines.
5. Demand for Nutrient-Dense Options
Health-conscious consumers are seeking snacks that offer a nutritional punch, including a balanced combination of macronutrients, vitamins, minerals, and other beneficial compounds. Snacks rich in fiber, protein, healthy fats, and antioxidants are popular choices as they provide sustained energy and satiety while supporting overall health.
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Key Market Challenges
1. Balancing Health and Taste
Striking the right balance between health and taste remains a primary challenge in the healthy snacks market. While consumers seek snacks that offer health benefits, taste remains a critical factor in purchase decisions. Manufacturers must create products that are both healthy and appealing, often requiring innovative formulation and the use of natural ingredients.
2. Shelf Stability and Packaging
Maintaining shelf stability without resorting to artificial preservatives is a significant challenge. Packaging also plays a crucial role, as sustainable packaging materials sometimes fail to provide the necessary barrier protection to preserve the freshness of healthy snacks.
3. Technological & Processing-related Challenges
The processing of healthy snacks presents challenges related to texture, moisture retention, and ingredient compatibility. Clean-label snacks without additives or preservatives can create challenges in achieving desired textures and qualities. Ongoing technological advancements are expected to address these issues.
4. High Cost of Healthy Snacks
The higher cost of healthy snacks compared to less healthy options can be a deterrent for price-sensitive consumers. Perceptions of healthy snacks as expensive may limit accessibility, particularly for lower-income individuals or families.
Key Market Trends
1. Plant-Based and Clean Label
Plant-based snacks made from minimally processed plant ingredients are gaining popularity. Clean label products – those with simple, recognizable ingredients – are in demand as consumers scrutinize ingredient lists for artificial additives, preservatives, and excessive sugars. Snacks are enriched with functional ingredients like superfoods, probiotics, and adaptogens.
2. Snacking with Purpose
Consumers seek snacks that align with their values and lifestyles, leading to the rise of snacks catering to specific dietary preferences, sustainability, social responsibility, and ethical sourcing. Smaller, more frequent snack-based meals throughout the day are replacing traditional meals.
3. Rise in E-Commerce
E-commerce platforms have transformed how consumers access and purchase healthy snacks. These platforms offer convenience, accessibility, and a wide variety of snack options, allowing brands to introduce unique flavors, ingredients, and formats that may not be found at in physical retailers.
Segmental Insights
Product Insights
In 2022, savory snacks dominated the healthy snacks market with the largest market share. Savory snacks appeal to working-class individuals and recent college graduates seeking wholesome alternatives to traditional dinners, enabling them to satisfy their appetites without overeating. Manufacturers are developing baked chips that are natural, non-GMO, multigrain, low in salt, and offer various health benefits, including those made with ingredients like ragi, soya, and vegetables.Healthy fruit snacks, on the other hand, are expected to experience the fastest growth over the forecast period. Fruit bars, in particular, continue to drive innovation in the market. These bars come in various fortified options, including omega-3, prebiotic, probiotic, keto, and paleo, catering to diverse dietary preferences. Ingredients such as pea protein, whey, and soy proteins are being incorporated into bars to boost protein levels.
Packaging Insights
Regional Insights
Recent Developments
- In 2022 - CLIFexpanded its snack category with thelaunch of CLIF Thins, a crispy and crunchy variation of the original CLIF BAR.CLIF Thins are consciously crafted using plant-based ingredients. Each packcontains 100 calories and 5 grams of sugar, making it an ideal choice for thosewho desire flavorful snacks with genuine ingredients, including organic rolledoats.
- In 2022 - DaburIndia, a prominent Natural HealthCare and Ayurvedic Company, expanded its Réal portfolio by introducing a lineof healthy snacks in the Superfoods Seeds category. The range features RoastedPumpkin Seeds and Chia Seeds and is currently accessible through majoreCommerce platforms for online purchase.
- In 2022 - HUNGRY, a comprehensive food and eventsplatform for corporate America, acquired NatureBox, a manufacturer of healthysnacks. This acquisition enhances HUNGRY's better-for-you options and expandsits national reach, solidifying its position in the corporate food-techindustry.
Key Market Players
- Nestlé
- TheKellogg Company
- Unilever
- Danone
- PepsiCo
- MondelēzInternational
- HormelFoods Corporation
- DolePackaged Foods, LLC.
- Del MonteFoods, Inc.
- SelectHarvests
Report Scope
- Healthy Snacks Market, By Product
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- Healthy Snacks Market, By Packaging
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- Healthy Snacks Market, By Sales Channel
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- Healthy Snacks Market, By Region
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