Healthy Snacks Market Size, Share & Trends Report

Healthy Snacks Market Size, Share & Trends Analysis Report By Product (Dried Fruit, Cereal & Granola Bars, Nuts & Seeds, Meat, Trail Mix), By Region, Vendor Landscape, And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-1-68038-915-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 85

Industry Insights

The global healthy snacks market size was valued at USD 23.05 billion in 2018. Rising consumer focus on nutritional values of the product such as high vitamins & proteins and low calories has worked in favor of the market. Soaring need for on-the-go snack coupled with increasing spending capacities of customers can stoke the growth of the market. In addition, hectic lifestyles of consumers are expected to propel the market over the coming years.

Healthy snacks are widely being consumed in matured economies. Burgeoning popularity of meat snacks has also been stimulating the growth of the market. Growing emphasis by consumers on quality products in developed economies such as Europe and North America owing to increasing consumer spending power is poised to augment the market over the upcoming years.

U.S. healthy snacks market

Dried fruit snacks are being widely consumed by customers as they provide minerals, vitamins, phytonutrients, and fiber. Increasing awareness regarding their health benefits offered by among consumers in European countries, primarily U.K., Germany, and France, is likely to fuel the demand for these products over the coming years.

Healthcare and wellness spending in developed economies such as Germany, U.K., and U.S. is experiencing an upswing due to various benefits offered by governments in line with tax relaxation to buy healthcare and wellness plans. Tax benefits have resulted in a rise in health and wellness spending by families, and in turn, boosted the sales of the product.

Rising disposable income, of consumers due to modernization and widening base of working personnel, is one of the primary growth stimulants for the market. Families in the age group of mid-thirties to mid-forties have registered increased spending on healthy snacks. On the other hand, volatile prices of raw materials, due to dependency on agricultural commodities and strict regulations laid down by various regulatory authorities, are projected to restrict the growth of the market.

Nevertheless, rising investments to develop innovative quality offerings and product branding initiatives undertaken by major players are anticipated to provide an upthrust to the market. Health consciousness among customers due to awareness campaigns launched by government, non-government organizations, and companies are estimated to stir up the demand for healthy snacks over the coming years.

Product Insights

Demand for meat snacks is gaining traction and is expected to remain strong throughout the forecast horizon. The segment held about 27.0% of the overall revenue in 2018. Meat snacks are an excellent source of protein, which is essential for the growth of the body.

Regulatory bodies in developed regions such as Europe have laid down strict regulations regarding manufacturing of meat snacks to ensure better consumer health protection. Therefore, manufacturers of meat snacks are mandated to assure better quality products, which incurs additional cost and can challenge the growth of the segment over the next few years.

Several emerging economies in Asia Pacific and South America are high consumers of meat snacks. Several manufacturers of meat snacks are present in China, which is an essential factor behind increased production of meat snacks in the country.

Cereal and granola bars represented the leading share in the global healthy snacks market. This can be attributed to wide-scale adoption by consumers due to convenience, such as grab-and-go, offered by healthy snacks. In addition, factors such as instant energy and nutrition offered by cereal & granola bars are further likely to drive the overall market.

Regional Insights

North America is poised to be one of the prominent regional markets for healthy snacks during the forecast period. Changing habits of consumers such as snacking in between regular meals or snacking instead of meals along with an increase in preference for healthy substitutes are projected to escalate the demand for the product in the region.

The demand for cereal and granola bars is strong in the region. It commanded 35.0% of the overall market revenue in the region in 2018. Cereal bars are widely consumed across North America due to several flavors available and discounts offered along with attractive packaging used to attract & retain new customers.

Global healthy snacks market

Furthermore, changing perceptions of consumers in the U.S towards diet patterns are leading to an increase in consumption of healthy snacks. On-the-go-lifestyle of working population in the country is anticipated to spur market growth over the upcoming years. Convenience and easy to carry options offered by healthy snacks are also promoting the growth of the market in the country.

Asia Pacific is estimated to be the most promising destination in the global arena during the forecast period. Rising demand for the product in the region can be attributed to modernization and growing need for on-the-go snacking options in emerging economies such as China and India. Changing consumer lifestyles in developing countries, owing to rise in disposable income, are further expected to bode well for the regional market over the next few years.

Healthy Snacks Market Share Insights

The market holds immense potential on account of growing spending capacity of consumers. Distinguished products in the market are eaten between regular meals in smaller portions as compared to regular meals. Entry of new players in the market is likely to be difficult as most of the key players are integrated across the value chain.

Rising investments in the development of value-added products are encouraging buyer confidence in the industry. Demographic factors such as high spending capability, changing consumer purchasing decisions, and modernization of retail channels are poised to offer substantial growth opportunities to key market players over the upcoming years.

Some of the key companies present in the market are Nestlé S.A.; PepsiCo, Inc.; The Kellogg Company; Tyson Foods, Inc.; General Mills, Inc.; Mondelēz International; Hormel Foods Corporation; Kind LLC; B & G Foods, Inc.; The Hain Celestial Group, Inc.; Calbee, Inc.; and Select Harvests.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, MEA

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, U.K., Germany, France, Spain, Japan, China, India, Australia, Indonesia, Thailand, Malaysia, Vietnam, Singapore, Philippines, Cambodia, Myanmar, Brunei, Laos, Brazil

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Segments Covered in the Report

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

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

    • Cereal & Granola Bars

    • Nuts & Seeds Snacks

    • Meat Snacks

    • Dried Fruit

    • Trail Mix Snacks

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

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • Indonesia

      • Thailand

      • Malaysia

      • Vietnam

      • Singapore

      • Philippines

      • Cambodia

      • Myanmar

      • Brunei

      • Laos

    • Central & South America

      • Brazil

    • Middle East & Africa

Key questions answered by the report
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