The global healthy snacks market size was estimated at USD 90.62 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. Growing awareness of health and wellness and an increasing focus on lifestyle-related ailments have led to a surge in consumer interest in healthier snack choices. This has created a demand for convenient, nutritionally balanced snacks that can be enjoyed on-the-go. The market has responded with innovative and diverse product offerings that cater to these evolving preferences. Furthermore, social media has played a significant role in popularizing healthy eating trends and influencing consumer choices.
In addition, workplaces are incorporating wellness programs that encourage healthier snacking habits contributing to the growth of the market for healthy snacks. The growth of this market is strongly driven by continuous innovation and expanding product diversity. Manufacturers attempt to meet the evolving demands and preferences of consumers by introducing fresh and innovative snack options.
They are prioritizing the development of distinctive flavors, utilization of unique ingredients, and integration of emerging food trends, resulting in a wide array of healthier snack choices. For instance, in May 2023, Nourish Organics, a renowned clean label and superfoods company, launched Popeas, marketed as the healthiest pack of chips. It is 100% clean label, organic, baked (not fried), and packed with 12g of protein. In addition, it is vegan and gluten-free, catering to various dietary needs.
The rise in disposable income, along with a corporate culture of long work hours and stressful lifestyles, has led to a shift in eating patterns and increased snacking. Snacks, on the other hand, have historically been considered unhealthy due to their high oil and sugar content, and major contributors to health problems such as obesity, high blood sugar, and hypertension. However, due to a recent shift in consumer behavior, the demand is fast shifting away from oily-spicy products to healthier, sugar-free, and low-calorie snacks packaged in small portions. This is a significant trend driving industry growth.
New-age customers demand nutritious, on-the-go, and economical snacking options that suit their nutritional needs while also satisfying their taste buds. According to a 2020 study by Mondelēz International, approximately 59% of adults globally prefer to consume multiple short meals throughout the day rather than the conventional larger ones. Snacks that meet stated health and nutrition criteria as well as address age-specific requirements or concerns, such as immunity, digestion, memory, weight loss, or energy are being developed by healthy snack manufacturers, thereby propelling their market growth.
The market, in the forecast year, is expected to be dominated by snacks with intriguing new flavors and textures created using sustainable technologies, packed with recyclable materials, and with clean labels. Vegan snacks, zero fats, high/added proteins, whole grains, reduced/zero sugar, zero oil/baked snacks, zero gluten content, and snacks with environment-friendly packaging are just a few examples of emerging trends in this sector. The number of innovations in the market is continually expanding.
Personalized healthy snacks are a trend that is gaining momentum in the global industry. Snacks that match consumer lifestyle, dietary, and health requirements are in high demand. As a result, personalized nutrition is now on the rise. Snacks that are keto-friendly and low in cholesterol, as well as those that are mood-boosting, gut-friendly, and help achieve better sleep, are becoming increasingly popular. For instance, in March 2022, PepsiCo and Beyond Meat launched their first plant-based product, Meatless Jerky. These companies have formed a joint venture to develop plant-based healthy snacks and beverages under their PLANeT Partnership.
Research and development play a crucial role in driving growth and innovation within the market. Companies investing in R&D initiatives can explore new ingredients, technologies, and manufacturing processes for creating healthier snack options that cater to consumer preferences. For instance, in April 2023, Hsu Fu Chi, a snack company in Dongguan, located in Guangdong province, formed a partnership with the South China University of Technology to establish a dedicated research center for healthy snacks. The research center will focus on advancements in raw materials, technology, and the creation of healthier food options. Alongside this initiative, Hsu Fu Chi has also introduced an innovation strategy and a fund aimed at encouraging its employees to make significant breakthroughs in food research and development.
Healthy savory snacks dominated the market with a share of 33.2% in 2022.The demand for this segment is driven by working-class people and college graduates, for whom healthy savory snack products have emerged as an alternative to dinner. Savory snack foods allow individuals to satisfy their appetite, as well as prevent them from overeating during mealtime. Companies are developing baked chips that are all-natural, non-GMO, multigrain, and low in salt content, as well as provide many health benefits. Ragi, soya, and vegetables are commonly used to make these chips, which are high in protein and low in fat.
However, healthy fruit snacks are expected to showcase the fastest growth over the forecast period. Fruit bars are still at the forefront of innovation in the market for healthy snacks. A variety of prebiotic, probiotic, and omega-3 fortified bars are present in the market, as well as keto and paleo choices that are low in carbohydrates and high in medium-chain triglycerides. Furthermore, protein content is increasing in bars, with standard whey and soy proteins being used more frequently; however, pea protein is becoming more popular.
Companies are manufacturing snacks that are healthy, convenient, and tasty, and meet consumer demands. Nutritional supplements come in various forms such as dairy and confectionary. Plant-based yogurts have fueled yogurt growth, with newer additions such as Chobani Non-Dairy Greek yogurt and Good Karma Flaxmilk drinkable and spoonable yogurts. For instance, in September 2022, chocolate maker Mondelēz International entered the snack bar category in India with its launch of the Fuse Fit snack bar.
Low/no sugar snacks dominated the market with a share of 41.2% in 2022. The increasing prevalence of obesity, diabetes, and other lifestyle diseases has fueled the demand for low/no-sugar snacks. These snacks serve as an appealing option for individuals planning to manage their weight and blood sugar levels. Strict regulations and labeling requirements have incentivized manufacturers to create and promote healthier snack choices. Moreover, marketing efforts and enhanced consumer education have played a crucial role in raising awareness about the advantages of low/no sugar snacks, driving their widespread acceptance and popularity.
Gluten-free snacks are projected to register a CAGR of 7.4% over the forecast period The rise of alternative diets, such as paleo, keto, and vegan, has also contributed to the popularity of gluten-free snacks, as these diets often exclude gluten-containing foods. In January 2023, In Good Hands, a California-based snack company introduced its inaugural product line, consisting of Nacho Cheese Protein Puffs and White Cheddar Protein Puffs, which are gluten-free. Each serving of In Good Hands Protein Puffs contains 12 grams of milk protein, making them a good source of protein. In addition, these protein puffs have only 1 gram of sugar and provide 130 calories per serving, making them a lower-calorie option compared to many other traditional snacks.
Bags and pouches dominated the market with a share of 33.3% in 2022 owing to the convenience of packaging and handling.Bags and pouches are designed to be easily opened, resealed, and lightweight, which makes them highly suitable for on-the-go snacking. They provide efficient protection for snacks, preserving their freshness and flavor. Transparent or windowed designs enhance visibility and appeal, enabling consumers to make informed choices. In addition, their cost-effectiveness, sustainability feature, and versatility in accommodating various snack types contribute to their widespread preference as the packaging option of choice in the snacks market.
Cans is projected to register the fastest CAGR of 7.3% over the forecast period. Cans provide excellent protection, ensuring the snacks’ freshness and extended shelf life. With ample branding space, cans offer eye-catching marketing opportunities that enhance product visibility and recognition on store shelves. The perceived premium quality associated with metal packaging further drives consumer appeal. In addition, cans are recognized for their sustainability and recyclability which aligns well with the growing environmental consciousness among consumers.
Supermarkets and hypermarkets dominated the market with a share of 70.0% in 2022, owing to their wide product assortment that offers a diverse range of healthy snacks for consumers seeking variety. The sheer volume of supermarkets and hypermarkets globally is the major factor for the domination of this distribution channel. For instance, one of the largest supermarket chains in the world is 7-Eleven. It has over 46,000 outlets in 16 countries. Furthermore, the rapid progress of retail infrastructure across developing economies is further accentuating industry growth.
In addition, the convenience and accessibility of these retail channels, typically located in urban and suburban areas, make it easy for individuals to purchase healthy snacks during routine shopping trips. Collaborations with popular brands for in-store promotions and advertising campaigns increase brand visibility and generate consumer interest. Competitive pricing and discounts on healthy snacks further incentivize consumers to select these options over less nutritious alternatives.
Furthermore, instant delivery services are gaining momentum globally, and supermarket chains are joining the trend to maximize their value. Over the last few months, there is an increasing number of supermarkets partnering with or investing in large rapid delivery companies. Supermarkets gain from their current supply chains to raise their margins, while delivery services benefit from their existing supply chains to extend their distribution network and lessen market competition.
The online distribution channel is expected to exhibit the fastest CAGR of 9.0% from 2023 to 2030. The ability to shop from home, access a vast array of products, and easily compare prices and reviews online has appealed to consumers. Moreover, the online channel provides a wider consumer base, including those in remote or underserved areas. It eliminates geographical constraints, allowing healthy snack brands to reach a wider audience and expand their customer base globally.
North America held the largest revenue share globally accounting for approximately 33.5% in 2022. The demand for healthy snacks in the U.S. has risen exponentially with the emergence of the COVID-19 pandemic. The U.S. was already a large consumer of snacks, but the consumer focus has now shifted to the consumption of healthy and nutritious snacks to prevent health-related risks posed due to excessive snacking habits. The U.S. market for healthy snacks is expected to grow at a CAGR of 7.2% from 2023 to 2030. Furthermore, the high proliferation rates of supermarkets and hypermarkets, along with convenience stores is another major factor that has driven the sales of healthy snacks in the region. These convenience stores are partnering with delivery platforms to strengthen their presence in e-commerce.
However, Asia Pacific is anticipated to become the fastest-growing region in the global market over the forecast period. In Asia, there is also a growing awareness of foods that are beneficial for the stomach and associated with immunity, such as prebiotics and probiotics. Adding functional ingredients to snacks, such as macronutrients and antioxidants, has become a common approach for many manufacturers to create nutritious snacks in recent years. Furthermore, as a tactic to attract customers, more companies are emphasizing clean labels and product flavors. This is expected to drive the growth of the Asia Pacific market for healthy snacks during the forecast period.
Furthermore, China’s healthy snacks industry has emerged as a dominant market in the Asia Pacific region with a revenue share of 35.25% in 2022, owing to significant innovation and product diversity. Manufacturers have been developing and introducing a wide range of healthier snack options to cater to different consumer preferences and dietary needs. The Australia & New Zealand market for healthy snacks is expected to grow at a CAGR of 8.4% from 2023 to 2030. India’s healthy snacks industry is expected to grow at the fastest CAGR of 9.4% from 2023 to 2030, driven by changing consumer preferences towards nutritious options, expanding urban population, and the rise of e-commerce.
Europe is expected to witness a steady CAGR of 6.0% over the forecast period. This growth is driven by the high prevalence of obesity and lifestyle diseases in the region, prompting individuals to adopt healthier eating habits. There is a strong demand for snacks with lower calories, reduced sugar, healthier ingredients, and functional benefits. The UK healthy snacks industry emerged as a dominant market in Europe region with a revenue share of 21.8% in 2022. The Germany healthy snacks industry is expected to grow at a CAGR of 6.4% from 2023 to 2030.
The market includes both international and domestic participants. Brand market share analysis indicates that key market players are focusing on strategies such as new product launches, partnerships, mergers & acquisitions, global expansion, and others. Some of the initiatives include:
In March 2022, CLIFexpanded its snack category with the launch of CLIF Thins, a crispy and crunchy variation of the original CLIF BAR. CLIF Thins are consciously crafted using plant-based ingredients. Each pack contains 100 calories and 5 grams of sugar, making it an ideal choice for those who desire flavorful snacks with genuine ingredients, including organic rolled oats.
In February 2022, DaburIndia, a prominent Natural Health Care and Ayurvedic Company, expanded its Réal portfolio by introducing a line of healthy snacks in the Superfoods Seeds category. The range features Roasted Pumpkin Seeds and Chia Seeds and is currently accessible through major eCommerce platforms for online purchase.
In May 2022, HUNGRY , a comprehensive food and events platform for corporate America, acquired NatureBox, a manufacturer of healthy snacks. This acquisition enhances HUNGRY's better-for-you options and expands its national reach, solidifying its position in the corporate food-tech industry.
Some key players in the global healthy snacks market include:
Nestlé
The Kellogg Company
Unilever
Danone
PepsiCo
Mondelēz International
Hormel Foods Corporation
Dole Packaged Foods, LLC.
Del Monte Foods, Inc.
Select Harvests
B&G Foods
Monsoon Harvest
In January 2023, RXBAR successfully launched a new line of Granola, featuring three enticing flavors - Original, Peanut Butter, and Chocolate - each infused with wholesome, real ingredients and boasting an impressive 10g protein per serving. This strategic move further solidified their reputation for unwavering dedication to authentic, no-nonsense snacking solutions
In July 2023, Applegate Farms LLC made a significant market entry with the introduction of APPLEGATE NATURALS™ Frittata Bites, becoming the trailblazer in the breakfast industry by offering the exclusive Certified Humane® frozen egg bites. This strategic expansion marked the brand's successful foray into the handheld, frozen breakfast segment, with a primary focus on incorporating eggs as a key ingredient in their innovative product line
In August 2022, PepsiCo Australia successfully unveiled its ambitious healthy snack strategy, securing an industry-leading position by ensuring 30 percent of its snack portfolio attained a Health Star Rating (HSR) of 3.5 or higher. This milestone was underscored by the successful launch of Simply, the inaugural potato chip on Australian retail shelves to boast an impressive HSR of 4, solidifying the company's commitment to offering healthier snack options to consumers
Report Attribute |
Details |
Market size value in 2023 |
USD 96.06 billion |
Revenue forecast in 2030 |
USD 152.55 billion |
Growth rate |
CAGR of 6.7% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2017 - 2021 |
Forecast period |
2023 - 2030 |
Report updated |
July 2023 |
Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, claim, packaging, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; Australia & New Zealand; Brazil; UAE; South Africa |
Key companies profiled |
Nestlé; The Kellogg Company; Unilever; Danone; PepsiCo; Mondelēz International; Hormel Foods Corporation; Dole Packaged Foods, LLC.; Del Monte Foods, Inc.; Select Harvests; B&G Foods; Monsoon Harvest |
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segment from 2018 to 2030. For this study, Grand View Research has segmented the healthy snacks market report based on product, claim, packaging, distribution channel, and region:
Product Outlook (Revenue, USD Billion, 2017 - 2030)
Frozen & Refrigerated
Fruit
Bakery
Savory
Confectionery
Dairy
Others
Claim Outlook (Revenue, USD Billion, 2017 - 2030)
Gluten-Free
Low/No Fat
Low/No Sugar
Others
Packaging Outlook (Revenue, USD Billion, 2017 - 2030)
Bags & Pouches
Boxes
Cans
Jars
Others
Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)
Supermarkets & Hypermarkets
Convenience Stores
Online
Others
Regional Outlook (Revenue, USD Billion, 2017 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
Central & South America
Brazil
Middle East & Africa
UAE
South Africa
b. The global healthy snacks market size was estimated at USD 90.62 billion in 2022 and is expected to reach USD 96.06 billion in 2023.
b. The global healthy snacks market is expected to grow at a compound annual growth rate of 6.2% from 2023 to 2030 to reach USD 152.55 billion by 2030.
b. North America held the largest market share globally accounting for around 33.5% of global revenue in 2022. The U.S. was already a large consumer of snacks, but the consumer focus has now shifted to the consumption of healthy and nutritious snacks to prevent all kinds of health-related risks posed due to excessive snacking habits. Furthermore, the high proliferation rates of supermarkets and hypermarkets, along with convenience stores is another major factor that has driven the sales of the healthy snacks market in the region.
b. Some of the key market players in the healthy snacks market are Nestlé; The Kellogg Company; Unilever; Danone; PepsiCo; Mondelēz International; Hormel Foods Corporation; Dole Packaged Foods, LLC.; Del Monte Foods, Inc.; Select Harvests; B&G Foods; Monsoon Harvest, among others.
b. Growing awareness of health and wellness, along with an increasing focus on lifestyle-related ailments, has led to a surge in consumer interest for healthier snack choices. This has created a demand for convenient, nutritionally balanced snacks that can be enjoyed on-the-go. The market has responded with innovative and diverse product offerings that cater to these evolving preferences. Furthermore, social media has played a significant role in popularizing healthy eating trends and influencing consumer choices. Additionally, workplaces are incorporating wellness programs that encourage healthier snacking habits, contributing to the growth of the healthy snacks market.
b. The U.S. healthy snacks market dominated the North America market with a revenue share of 66.6% in 2022. Higher consumer spending power, and increasing health and wellness awareness, with more consumers seeking healthier food options, is consolidating market growth in the region. Furthermore, the U.S. has a vibrant and innovative food industry, with numerous companies dedicated to developing and marketing healthy snack products.
Table of Contents
Chapter 1. Healthy Snacks Market: Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Healthy Snacks Market: Executive Summary
2.1. Market Outlook
2.2. Product Type Outlook
2.3. Application Outlook
2.4. Distribution Channel Outlook
2.5. Regional Outlook
2.6. Competition Outlook
Chapter 3. Healthy Snacks Market: Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Type Adoption
4.5. Key Observations & Findings
Chapter 5. Healthy Snacks Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Frozen & Refrigerated
5.2.1. Frozen & refrigerated snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. Fruit
5.3.1. Fruit snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.4. Bakery
5.4.1. Bakery snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.5. Savory
5.5.1. Savory snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.6. Confectionery
5.6.1. Confectionery snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.7. Dairy
5.7.1. Dairy snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.8. Others
5.8.1. Other snacks market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 6. Healthy Snacks Market: Claim Estimates & Trend Analysis
6.1. Claim Movement Analysis & Market Share, 2022 & 2030
6.2. Gluten-Free
6.2.1. Gluten-Free snacks market estimates and forecast, 2017 - 2030 (USD Billion)
6.3. Low/No Fat
6.3.1. Low/No Fat snacks market estimates and forecast, 2017 - 2030 (USD Billion)
6.4. Low/No Sugar
6.4.1. Low/No Sugar snacks market estimates and forecast, 2017 - 2030 (USD Billion)
6.5. Others
6.5.1. Other snacks market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 7. Healthy Snacks Market: Packaging Estimates & Trend Analysis
7.1. Packaging Movement Analysis & Market Share, 2022 & 2030
7.2. Bags & Pouches
7.2.1. Healthy snacks market estimates and forecast, by bags & pouches, 2017 - 2030 (USD Billion)
7.3. Boxes
7.3.1. Healthy snacks market estimates and forecast, by boxes, 2017 - 2030 (USD Billion)
7.4. Cans
7.4.1. Healthy snacks market estimates and forecast, by cans, 2017 - 2030 (USD Billion)
7.5. Jars
7.5.1. Healthy snacks market estimates and forecast, by jars, 2017 - 2030 (USD Billion)
7.6. Others
7.6.1. Healthy snacks market estimates and forecast, by other packaging, 2017 - 2030 (USD Billion)
Chapter 8. Healthy Snacks Market: Distribution Channel Estimates & Trend Analysis
8.1. Distribution channel Movement Analysis & Market Share, 2022 & 2030
8.2. Supermarkets & Hypermarkets
8.2.1. Market estimates and forecast through supermarkets & hypermarkets, 2017 - 2030 (USD Billion)
8.3. Convenience Stores
8.3.1. Market estimates and forecast through convenience stores, 2017 - 2030 (USD Billion)
8.4. Online
8.4.1. Market estimates and forecast through online, 2017 - 2030 (USD Billion)
8.5. Others
8.5.1. Market estimates and forecast through others, 2017 - 2030 (USD Billion)
Chapter 9. Healthy Snacks Market: Regional Estimates & Trend Analysis
9.1. Regional Movement Analysis & Market Share, 2022 & 2030
9.2. North America
9.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.2.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.2.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.2.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.2.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.2.6. U.S.
9.2.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.2.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.2.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.2.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.2.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.3. Europe
9.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.3.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.3.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.3.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.3.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.3.6. Germany
9.3.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.3.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.3.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.3.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.3.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.3.7. U.K.
9.3.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.3.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.3.7.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.3.7.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.3.7.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.3.8. France
9.3.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.3.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.3.8.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.3.8.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.3.8.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.4. Asia Pacific
9.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.4.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.4.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.4.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.4.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.4.6. China
9.4.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.4.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.4.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.4.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.4.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.4.7. India
9.4.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.4.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.4.7.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.4.7.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.4.7.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.4.8. Japan
9.4.8.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.4.8.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.4.8.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.4.8.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.4.8.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.5. Central & South America
9.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.5.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.5.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.5.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.5.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.5.6. Brazil
9.5.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.5.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.5.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.5.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.5.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.6. Middle East & Africa
9.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.6.6. UAE
9.6.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.6.6.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.6.6.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.6.6.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.6.6.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
9.6.7. South Africa
9.6.7.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
9.6.7.2. Market estimates and forecast, by product, 2017 - 2030 (USD Billion)
9.6.7.3. Market estimates and forecast, by claim, 2017 - 2030 (USD Billion)
9.6.7.4. Market estimates and forecast, by packaging, 2017 - 2030 (USD Billion)
9.6.7.5. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Billion)
Chapter 10. Competitive Analysis
10.1. Recent developments & impact analysis, by key market participants
10.2. Company Categorization
10.3. Participant’s Overview
10.4. Financial Performance
10.5. Product Benchmarking
10.6. Company Market Share Analysis, 2022 (%)
10.7. Company Heat Map Analysis
10.8. Strategy Mapping
10.9. List of key companies analyzed in this section include:
10.9.1. Nestlé
10.9.2. The Kellogg Company
10.9.3. Unilever
10.9.4. Danone
10.9.5. PepsiCo
10.9.6. Mondelēz International
10.9.7. Hormel Foods Corporation
10.9.8. Dole Packaged Foods, LLC.
10.9.9. Del Monte Foods, Inc.
10.9.10. Select Harvests
10.9.11. B&G Foods
10.9.12. Monsoon Harvest
List of Tables
1. Healthy snacks market - Driving factor market analysis
2. Healthy snacks market - Restraint factor market analysis
3. Healthy snacks market estimates & forecast, by product (USD Billion)
4. Healthy snacks market estimates & forecast, by claim (USD Billion)
5. Healthy snacks market estimates & forecast, by packaging (USD Billion)
6. Healthy snacks market estimates & forecast, by distribution channel (USD Billion)
7. U.S. macro-economic outlay
8. Canada macro-economic outlay
9. Mexico macro-economic outlay
10. U.K. macro-economic outlay
11. Germany macro-economic outlay
12. France macro-economic outlay
13. Italy macro-economic outlay Spain
14. China macro-economic outlay
15. Japan macro-economic outlay
16. India macro-economic outlay
17. Australia & New Zealand macro-economic outlay
18. South Korea macro-economic outlay
19. Brazil macro-economic outlay
20. UAE macro-economic outlay
21. South Africa macro-economic outlay
22. Recent developments & impact analysis, by key market participants
23. Company market share, 2022 (Value % Share)
24. Company heat map analysis
List of Figures
1. Information procurement
2. Primary research pattern
3. Primary research approaches
4. Primary research process
5. Market Snapshot
6. Segment Snapshot
7. Segment Snapshot
8. Competitive Landscape Snapshot
9. Healthy snacks market size, 2017 to 2030 (USD Billion)
10. Healthy snacks market: Value chain analysis
11. Healthy snacks market: Profit-margin analysis
12. Healthy snacks market: Dynamics
13. Healthy snacks market: Porter’s five forces analysis
14. Factors affecting buying decisions for Healthy snacks
15. Healthy snacks market, by product: Key takeaways
16. Healthy snacks market, by product: Market share, 2022 & 2030
17. Frozen & refrigerated snacks market estimates and forecast, 2017 - 2030 (USD Billion)
18. Fruit snacks market estimates and forecast, 2017 - 2030 (USD Billion)
19. Bakery snacks market estimates and forecast, 2017 - 2030 (USD Billion)
20. Savory snacks market estimates and forecast, 2017 - 2030 (USD Billion)
21. Confectionery snacks market estimates and forecast, 2017 - 2030 (USD Billion)
22. Dairy snacks market estimates and forecast, 2017 - 2030 (USD Billion)
23. Other snacks market estimates and forecast, 2017 - 2030 (USD Billion)
24. Healthy snacks market, by claim: Key takeaways
25. Healthy snacks market, by claim: Market share, 2022 & 2030
26. Gluten-free snacks market estimates & forecast, 2017 - 2030 (USD Billion)
27. Low/No fat snacks market estimates & forecast, 2017 - 2030 (USD Billion)
28. Low/No sugar snacks market estimates & forecast, 2017 - 2030 (USD Billion)
29. Other snacks market estimates & forecast, 2017 - 2030 (USD Billion)
30. Healthy snacks market, by packaging: Key takeaways
31. Healthy snacks market, by packaging: Market share, 2022 & 2030
32. Healthy snacks market estimates & forecast, by bags & pouches, 2017 - 2030 (USD Billion)
33. Healthy snacks market estimates & forecast by boxes, 2017 - 2030 (USD Billion)
34. Healthy snacks market estimates & forecast by cans, 2017 - 2030 (USD Billion)
35. Healthy snacks market estimates & forecast by jars, 2017 - 2030 (USD Billion)
36. Healthy snacks market estimates & forecast by other packaging, 2017 - 2030 (USD Billion)
37. Healthy snacks market, by price: Key takeaways
38. Healthy snacks market, by distribution channel: Key takeaways
39. Healthy snacks market, by distribution channel: Market share, 2022 & 2030
40. Healthy snacks market estimates & forecast, through supermarket/hypermarket, 2017 - 2030 (USD Billion)
41. Healthy snacks market estimates & forecast, through convenience stores, 2017 - 2030 (USD Billion)
42. Healthy snacks market estimates & forecast, through online, 2017 - 2030 (USD Billion)
43. Healthy snacks market estimates & forecast, through others, 2017 - 2030 (USD Billion)
44. Healthy snacks market revenue, by region, 2022 & 2030 (USD Billion)
45. Regional marketplace: Key takeaways
46. Regional marketplace: Key takeaways
47. North America Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
48. U.S. Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
49. Canada Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
50. Mexico Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
51. Europe Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
52. U.K. Healthy snacks market estimates & forecasts, 2017 - 2030 (USD Billion)
53. Germany Healthy snacks market estimates & forecasts, 2017 - 2030 (USD Billion)
54. France Healthy snacks market estimates & forecasts, 2017 - 2030 (USD Billion)
55. Asia Pacific Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
56. China Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
57. Japan Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
58. India Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
59. South Korea Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
60. Australia Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
61. Central & South America Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
62. Brazil Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
63. Middle East & Africa Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
64. UAE Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
65. South Africa Healthy snacks market estimates & forecast, 2017 - 2030 (USD Billion)
66. Key company categorization
67. Company market share analysis, 2022
Market Segmentation
The high spending capability of consumers is a significant driver for the growth of the healthy snacks market. This can be attributed to the rising disposable income of consumers due to modernization and an increase in the number of working personnel. The families in the age group of mid-thirties to mid-forties account for increased spending on healthy snack products. Emerging economies are witnessing a paradigm shift in the purchasing behavior and habits of customers. The rapid urbanization and growth of the middle class in developing economies have resulted in changing lifestyles and increased demand for ready-to-eat healthy snack products. The healthcare and wellness spending in developed economies is registering growth due to various benefits offered by the governments in terms of 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 healthy snack products. Better product availability, in terms of product categories, due to increased competition among major industry players, is also driving the healthy snacks market over the forecast period. Innovation in healthy snack products to increase the market share among leading players is also luring customers to purchase healthy snacks.
The various awareness campaigns run by government agencies, nongovernmental organizations, and companies have boosted the understanding about the nutritional benefits of healthy snacks, which, in turn, is projected to fuel the market demand. The use of premium healthy snacks products in many countries is regarded as a symbol of one’s social status. The availability of organic and natural products by different companies engaged in the manufacturing of healthy snacks products is also pushing product sales. The use of attractive packaging method has led to consumer awareness, which, in turn, has triggered spending on healthy snacks. A large number of consumers are becoming health conscious and moving toward purchasing products comprising minimal synthetic chemicals. Increasing preference for healthy food at a premium price to provide kids with better nutrition is also an essential factor, which is likely to trigger the demand for healthy snacks over the forecast period. Brand name, nutrition, and safety of the products are some of the factors that influence the purchasing pattern of healthy snacks. Awareness through various forms of media such electronic and print about the benefits offered by healthy snacks is likely to influence the purchasing behavior of consumers.
The development of differently priced healthy snack products has been driven by growing competition among manufacturers and an emphasis on product differentiation and innovation. However, healthy snacks are required to comply with stringent guidelines, which can pose a challenge to market growth over the next seven years. In addition, there is a rising pressure from consumers for quality healthy snacks, which has led to a rise in product cost. The cost is mainly affected by the raw materials in use, and the manufacturer has to bear the additional raw material prices. Investments in research & development on a continuous basis need added funding, as product differentiation is essential for maintaining the market share along with a focus on the market growth. Companies are required to invest heavily to conduct trials before launching the product for humans. These factors, in turn, are expected to affect the market over the forecast period.
This section will provide insights into the contents included in this healthy snacks market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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.
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.
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).
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:
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.
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.
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.
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.
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
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.
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.
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.
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