GVR Report cover Healthy Snacks Market Size, Share & Trends Report

Healthy Snacks Market Size, Share & Trends Analysis Report By Product (Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, Others), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-1-68038-915-9
  • Number of Pages: 100
  • Format: Electronic (PDF)

Report Overview

The global healthy snacks market size was valued at USD 85.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. The healthy snack market has soared in recent years, especially since the global pandemic. As customers become more health-conscious, the need for nutritional yet delicious products has been booming. Furthermore, the increasing development in the supply chain of products is driving market growth. Major supermarket chains are now collaborating with third-party online delivery companies to expand their operations to include e-commerce channels.

U.S. healthy snacks market size, by product, 2020 - 2030 (USD Billion)

The COVID-19 pandemic altered people's attitudes toward eating. People found themselves eating the majority of their meals at home while out-of-home dining opportunities were limited by stay-at-home mandates. Consumers want to stay in good shape so they can prevent illnesses, train at higher intensities for longer periods of time, and enjoy improved health. Hence, recent innovations in numerous healthy snack niches are on the rise, and this trend is inspired by customers' preferences for snacks that deliver on health, convenience, and taste.

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. Snacks have historically been seen to be unhealthy due to their high oil and sugar content, and hence are a major contributor 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 and toward healthier, sugar-free, and low-calorie snacks packaged in small portions. This is a significant trend driving industry growth.

New-age customers want 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, nearly 59% of adults throughout the world prefer to consume multiple short meals throughout the day rather than a few 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 snacks manufacturers, thereby propelling the market growth.

The healthy snacks industry 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 environmentally 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 another trend that is gaining momentum in the global industry. Snacks that match consumer lifestyle, dietary, and health needs 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. The companies had entered into a joint venture to develop plant-based healthy snacks and beverages under their PLANeT Partnership.

Product Insights

Healthy savory snacks dominated the product segment in the overall market. The demand for this segment is driven by working-class people and college graduates, for whom healthy savory snack products have emerged as a dinner alternative. 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, 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. Fruit bars are still at the forefront of innovation in the healthy snacks market. There are a variety of prebiotic, probiotic, and omega-3 fortified bars on 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, but pea protein is becoming more popular.

Companies are manufacturing snacks that are healthy, convenient, and tasty in order to meet consumer demand. Nutritional supplements come in a number of different 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 2021, chocolate maker Mondelēz International entered the snack bar category in India with its launch of the Fuse Fit snack bar.

Distribution Channel Insights

The supermarkets & hypermarkets accounted for the major share of the global market in 2021. The sheer volume of supermarkets and hypermarkets spread across the globe is the major factor for the domination of this distribution channel. For instance, one of the largest supermarkets chains in the world is the 7-Eleven. It has over 46,000 outlets in 16 countries. Furthermore, the rapid progress of retail infrastructure across the developing economies is further accentuating industry growth.

Global healthy snacks market share, by distribution channel, 2021 (%)

Furthermore, instant delivery services are gaining momentum across the world, 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 COVID-19 pandemic has fueled the online distribution channel and is expected to be the fastest-growing segment during the forecast period. The collaboration of food delivery platforms with grocery chains is a trend that is gaining momentum. For instance, In October 2021, Tesco, U.K.'s largest supermarket chain, partnered with German delivery group Gorillas to deliver their products in 10 minutes. The deal is expected to aid Tesco to enter the rapidly growing fast-track delivery sector, which has emerged as lockdowns and working from home have accelerated the transition to online shopping.

Regional Insights

North America held the largest market share globally accounting for around 33% of global value in 2021. 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 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 are another major factor that has driven the sales of the market in the region. These convenience stores are partnering with delivery platforms to strengthen their presence in e-commerce. For instance, in September 2020, Instacart, a grocery delivery and, pick-up service operator in the U.S. and Canada entered the convenience store market through its partnership with 7-Eleven, Inc.

However, Asia Pacific is anticipated to become the fastest-growing region in the global market. In Asia, there is also a growing awareness of goods 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 producers to create nutritious snacks in recent years. Furthermore, as a tactic to attract customers, more companies are emphasizing on clean labels and product flavor. This is expected to drive the market during the forecast period.

Key Companies & Market Share Insights

The market is fragmented with the presence of global and regional players offering a variety of snacking options customized to the local palates.

  • In January 2021, MondelÄ“z International acquired Hu Master Holdings, the parent company of Hu Products, a fast-growing US-based snacking company offering high-quality snacks made from simple ingredients

  • In February 2020, B&G Foods, Inc. has acquired Farmwise L.L.C., a Massachusetts.-based maker of frozen veggie fries, veggie tots and veggie rings. Farmwise’s frozen veggie snacks are from cauliflower, navy beans and onions. The products are vegan, non-GMO Project verified and free of major allergens, including gluten, wheat, soy, dairy, tree nuts and peanuts

  • In February 2019, Unilever acquired British snack brand Graze from investment firm The Carlyle Group. Graze offers a variety of snacks with no artificial ingredients, including nuts, seeds, trail mixes and bars

Some of the key players operating in the healthy snacks market include:

  • Nestlé

  • The Kellogg Company

  • Unilever

  • Danone

  • PepsiCo

  • MondelÄ“z International

  • Hormel Foods Corporation

  • Dole Packaged Foods, LLC.

  • Del Monte Foods, Inc.

  • Select Harvests

  • B&G Foods

  • Monsoon Harvest

Healthy Snacks Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 90.6 billion

Revenue forecast in 2030

USD 152.5 billion

Growth Rate

CAGR of 6.6% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; France; China; Japan; India; Brazil; UAE; South Africa

Key companies profiled

Nestlé; The Kellogg Company; Unilever; Danone; PepsiCo; MondelÄ“z 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

 

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-segment from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global healthy snacks market on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Billion, 2017 - 2030)

    • Frozen & Refrigerated

    • Fruit

    • Bakery

    • Savory

    • Confectionery

    • Dairy

    • 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.

    • Europe

      • Germany

      • U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

      • UAE

      • South Africa

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