Healthy Snacks Market Size, Share & Trends Analysis Report By Product (Frozen & Refrigerated, Dairy), By Claim (Gluten-free, Low/No Fat), By Packaging, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the healthy snacks market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for healthy snacks market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of healthy snacks market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Healthy Snacks Market Categorization:

The healthy snacks market was categorized into five segments, namely product (Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy), claim (Gluten-Free, Low/No Fat, Low/No Sugar), packaging (Bags & Pouches, Boxes, Cans, Jars), distribution channel (Supermarkets & Hypermarkets, Convenience Stores, Online), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The healthy snacks market was segmented into product, claim, packaging, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The healthy snacks market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into fifteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; China; Japan; India; Australia & New Zealand; Brazil; UAE; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Healthy snacks market companies & financials:

The healthy snacks market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• General Mills, Inc. - General Mills, Inc. is a U.S.-based company that was established in 1928 and is headquartered in Minnesota. The company is involved in the manufacturing and selling of consumer foods under several brand names such as Cascadian Farm, Foot, Lärabar, Nature Valley, and Yoki. Its product categories include snack yogurt, ice cream, pasta, baking products, dough/pastries, organic/natural, pizza, soup, spices, fruit, vegetables, meals, and cereals, which are marketed through more than 100 brands. The company operates in three principal business segments including U.S. retail, convenience stores and foodservice, and international trade. It has a global presence in various regions including Europe, Asia Pacific, North America, and Latin America. The company has established joint ventures with Cereal Partners Worldwide (CPW) and Häagen-Dazs Japan (HDJ) to strengthen its market position.

• Mondelēz International - Mondelēz International is a US-based company that produces snack food and beverage products. It was founded in 2005 and has its headquarters in Illinois. The company has five product categories: chocolates, beverages, biscuits, gum & candy, and cheese & grocery. Its brand portfolio includes Cadbury, Oreo, Nabisco, LU, Toblerone, Milka, belVita, and Tang, among others. The company operates in five regions: North America, Europe, South & Central America, Asia Pacific, and the Middle East & Africa. It sells its products through various channels, including retail food outlets, convenience stores, supermarket chains, drugstores, wholesalers, mass merchandisers, supercenters, and warehouse clubs. As of December 2017, the company had a workforce of 83,000 individuals.

• PepsiCo, Inc. - PepsiCo, Inc. was founded in 1986 and is headquartered in New York, U.S. The company operates through six different business segments: Frito-Lay North America (FLNA), Asia, Middle East and North Africa (AMENA), Quaker Foods North America (QFNA), Europe Sub-Saharan Africa (ESSA), North America Beverages (NAB), and Latin America segment. Healthy snacks are marketed and sold through all six segments, catering to different regional markets. PepsiCo distributes its products in over 200 countries and has a workforce of 263,000 individuals globally. The company has three types of distribution systems: distributor networks, customer warehouses, and direct store delivery, which vary according to customer requirements, product characteristics, and local trade practices.

• Hormel Foods Corporation - Hormel Foods Corporation was established in 1891 and is headquartered in Minnesota, U.S. The company is engaged in providing various branded and unbranded products through retail outlets, foodservice outlets, and fresh product stores. Hormel Foods has five different business segments: Specialty Foods, Jennie-O Turkey Store, Grocery Products, Refrigerated Foods, and International & Other. Under the specialty foods business segment, the company offers health and nutritional products. It is also involved in the marketing and selling of chicken, beef, branded and unbranded pork, and turkey through its various business segments. Hormel Foods has established its network in over 75 countries across the globe and had a workforce of more than 20,000 individuals across various departments as of October 2017.

• Kind LLC - Kind LLC was founded in 2004 and is headquartered in New York, U.S. The company is engaged in the manufacturing, marketing, and selling of products such as grain bars, grain clusters, breakfast bars, sweet & spicy bars, and other types of whole nuts & seeds bars. It sells these products through modern retail channels including hypermarkets, supermarkets, retailers, wholesale distributors, and online e-commerce portals. Kind LLC has established offices in North America and Europe.

• Tyson Foods, Inc. - Tyson Foods, Inc., founded in 1935, is a multinational protein-focused food company with its headquarters in Arkansas, U.S. The company operates in four business segments: pork, chicken, beef, and prepared food. Tyson Foods has vertically integrated its business in the chicken segment, involving itself in raising chickens and processing them into fresh, frozen, and value-added products. The beef segment includes processes related to feeding cattle and fabricating dressed beef into primal and sub-primal meat cuts. The company also supplies turkey, lunch meats, frozen & refrigerated food products, poultry breeding stock, pepperoni, bacon, hot dogs, pizza crusts, and breakfast sausages. Tyson Foods has a workforce of over 122,000 individuals across various departments and is present in North America, Europe, Asia Pacific, and the Middle East.

• Select Harvests - Select Harvests, founded in 1983, is an Australian company engaged in the production, processing, marketing, and selling of almonds, healthy snacks, muesli, and nut products. The company has two business divisions: food and almond. The food division is responsible for manufacturing, marketing, and distributing dried fruits, edible nuts, seeds, and other natural health food products. The almond division exclusively grows, processes, and sells almonds, with plantations across 6,687 hectares and processing facilities. Select Harvests has established its business in various regions, including Asia Pacific, the Middle East, North America, and Europe. As of June 2018, the company had a workforce of 558 individuals.

• Nestlé S.A. - Nestlé S.A., founded in 1866, is a Swiss company engaged in healthcare nutrition, cereals, ice cream, drinks, coffee, baby foods, chocolate & confectionery, culinary, chilled & frozen food, dairy products, food service, bottled water, pet care, and weight management. The company sells its products through over 2000 global and local brands. Nestlé S.A. operates through seven segments: prepared dishes and cooking aids, nutrition and health science, powdered and liquid beverages, milk products and ice cream, water, confectionery, and pet care. The company has established offices in North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. As of December 2017, it had a workforce of over 323,000 individuals across various departments.

• B&G Foods, Inc. - B&G Foods, Inc., founded in 1889, is a U.S.-based company engaged in the manufacturing, marketing, and selling of frozen and shelf-stable foods. The company's product portfolio includes meats and beans, vegetables, spices, hot cereals, wine, vinegar, fruit spreads, peppers, dry soups, bagel chips, seasonings, nut clusters, puffed corn and rice snacks, hot sauces, salsas, maple syrup, molasses, taco shells and kits, and pickles. B&G Foods has established a wide distribution network, including merchandiser channels, retail grocery chains, warehouse clubs, non-food outlets, supermarkets, foodservice outlets, mass merchants, and specialty distributors. As of December 2017, the company had a workforce of 2,680 individuals.

• The Hain Celestial Group, Inc. - The Hain Celestial Group, Inc., established in 1993 and headquartered in New York, U.S., is a leading company in the organic and natural products industry. The company's primary businesses include foods and personal care products, with a wide variety of product portfolios such as dairy, non-dairy, baby foods, frozen foods, and gluten-free options. Its products range from herbal teas, offered through the Celestial Seasonings brand, to chickens offered under the FreeBird brand. The company manufactures, markets, distributes, and sells organic and natural products under various brand names, including Arrowhead Mills, Earth's Best, and Celestial Seasonings, which are sold as "better-for-you" products. The company is a leader in many organic and natural product categories with operations in North America, Europe, and India.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Healthy Snacks Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Healthy Snacks Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.