Healthy Snack Market Report

Healthy Snack Market Analysis, By Product (Cereal & Granola Bars, Nuts & Seeds Snacks, Meat Snacks, Dried Fruit Snacks, Trail Mix Snacks), By Region, And Segment Forecasts 2014 - 2025

Published: May 2017  |  80 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-915-9

Industry Insights

The global healthy snack market size was valued at USD 21.1 billion in 2016 and is expected to grow at a CAGR of 5.1% over the forecast period on account of its changing lifestyle coupled with rising awareness about healthy & nutritious food consumption in between meals. The evolution of consumer perception about snacking along with key attributes such as ease of consumption, variety, and portability are expected to drive the market over the forecast period.

The demand for healthy snacks has been increasing in adult population due to evolution of on-the-go lifestyle and availability of convenient snacking options. The rising popularity of snacking among the young population has boosted the need for healthy eating habits and is expected to propel the market demand over the next eight years. In addition to on-the-go lifestyle, snacking option that provides adequate nutrition is influencing the buyers’ decision. Rising awareness among the regions such as Europe, Asia Pacific, and North America is expected to have a positive impact on the industry.

U.S. healthy food market revenue, by product type, 2014 - 2025, (USD Million)

U.S. healthy food Market

Cereal & granola bar was estimated as the largest product segment and is expected to gain significant share due to growing requirement for healthy food along with other benefits such as better taste, filling capacity and portability. It is also gaining popularity among sportspersons on account of its property to provide instant energy along with the nutrition. Cereal bars are sold through various channels which include supermarkets, hypermarkets, retail stores, wholesalers and others. The growth in these distribution channels is also expected to boost the market of cereal bars over the next eight years.

Increasing demand for the nuts and seed snacks due to its growing use from vegetarians is expected to fuel the industry growth. In addition, the product is also widely used by the non-vegetarians as well, since it provides a sustainable snacking option with an emphasis on protein rich content. Nuts and seeds are also consumed as a pre-workout snacking option, which is anticipated to contribute to the demand from 2017-2025.

Factors such as high manufacturing cost as compared to the traditional snacks, coupled with the high selling price of the product are expected to pose a challenge for the industry growth. Additionally, the healthy snacks manufacturers must comply with regulations laid down by the food authorities in different regions, which in turn is expected restrict the industry development.

Product insights

The cereal and granola bars segment together accounted for 33.5% of the global market share in 2016. The cereal and granola bar demand is growing due to increasing adoption for grain-based snacks, in particular among the younger and middle-aged working population. In addition to the nutritional benefits, factors such as convenience to consume are expected to drive the growth of cereal and granola bars over the next eight years.

Meat snacks segment was estimated at USD 5.72 billion in 2016. The meat bars are expected to propel the meat snacks market over the forecast period. This segment is projected to gain market share on account of increasing demand from the North America and Asia-Pacific region. The various categories of products launched in the meat snacks category provide enormous options to the consumer which is an important factor for market growth.

The trail mix segment accounted for 9.9% of the global share in 2016. Increased promotional activities by the major players to attract more customers currently consuming traditional snacks is an influencing factor affecting the demand for trail mix segment. The trail mix snacks are also useful for shifting the customer's focus, towards convenient and healthy snacking option.

Global healthy snack market revenue, by product, 2015 (%)

Global healthy food Market

Regional insights

UK and Germany cumulatively accounted for the over 42.7% of the Europe market revenue in 2016 on account of increasing consciousness towards nutritious snacking options. These countries are engaged in manufacturing different variety of healthy snacks. The innovative use of packaging technology to provide quality as per local food industry requirement is expected to have a positive impact on the industry over next eight years.

Demand for healthy snacks in Asia Pacific was valued at USD 4.8 billion in 2015. This growth can be attributed to the development of changing demographics due to rising young population which is actively seeking a healthy alternative to consume in between meals. Asia Pacific is expected to remain the second largest market during the period from 2017 to 2025.

Increasing food & beverage product manufacturing in emerging economies such as China and India due to easy availability of skilled & cheap workforce is anticipated to result in higher production. Substantial demand from the food industry in Asia Pacific is expected to boost the market over the forecast period.

Competitive insights

Key players in the market include General Mills, Mondelez International, Inc., PepsiCo Foods, Nestle S.A., B&G Food Inc., The Kellogg Company and others. In February 2015, Mondelez International, Inc. acquired Enjoy Life Foods, and this acquisition would enable Mondelez to expand its snacking product portfolio especially in the U.S.

The healthy snack manufacturers are focusing on product differentiation, with a competitive pricing structure which would help them increase their market share over the forecast period. Hence, the companies have been investing in research and development to maintain the product taste along with its nutrition benefits as it would enable companies to maintain its customer base.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual /Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa

Country scope

U.S., Canada, UK, Germany, France, Spain, China, India, Japan, Australia, Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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Market segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the healthy snack market on the basis of product, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Cereal & granola bars

    • Nuts & seeds snacks

    • Meat snacks

    • Dried Fruit snacks

    • Trail mix snacks

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • South & Central America

      • Brazil

    • Middle East and Africa
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