The global healthy snack market is expected to reach USD 32.8 billion by 2025, according to a new report by Grand View Research, Inc. Rising awareness about healthy snacking habit along with the easy to use, and mobility of product is further propelling the market growth.
The hectic lifestyle and changing demographics with the rise of young population in Asia Pacific region are some of the factors positively influencing the market. In addition, the preference for healthy snacks over the traditional ones is increasing as it is convenient to carry and consume. These properties are expected to have a positive impact on the industry.
The growth in demand for single serve bars of cereals, granola, nuts & seeds, and, meat is rising due to growing working class, which is engaged in long working hours, and prefers nutritious snacks in between meals. The booming retail sector, coupled with efficient supply chain, and creative marketing strategies, is expected to augment market growth over the forecast period.
The nuts & seeds, and dried fruit segment are expected to collectively account for 27.2% of the global market share in 2025. The demand for these products is attributed to the immediate energy requirement fulfilled by the consumption of these products. In addition, the availability of various flavors is projected to boost the demand for these products over the forecast period.
Europe was the leading region due to changing perceptions about snacking among the younger consumers. The younger population is demanding more nutritive function from the snacks, which is leading to growing reliance on snacking as a healthy alternative. The availability of a variety of healthy snacks options is leading to the expansion of the overall market in this region.
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Further key findings from the report suggest
The market is expected to grow at a CAGR of 5.1% from 2017 to 2025 on account of increasing awareness about healthy snacking habits. Cereals and granola bars will witness fastest growth in terms of revenue at a CAGR of 6.3% from 2017 to 2025 owing to its nutritious contents.
Europe market is expected to witness significant development and was valued at USD 7.3 billion in 2016 on account of rising demand from the increasing younger population
Key participants include General Mills, Mondelez International, Inc., PepsiCo Foods, Nestlé S.A., B&G Food Inc, The Kellogg Company and others. These companies are focused on increasing their global presence using product differentiation strategies
In January 2017, General Mills, Inc., launched a new product series to address the increasing demand of snacks across the globe. The product range includes popular company brands such as Nature Valley Granola bars, Haagen-Dazs ice cream, Yoplait Custard in healthy snacks category.
Grand View Research has segmented the global healthy snack market on the basis of product and region:
Healthy Snack Product Outlook (Revenue, USD Million, 2014 - 2025)
Cereal & granola bars
Nuts & seeds snacks
Dried Fruit Snacks
Trail mix snacks
Healthy Snack Regional Outlook (Revenue, USD Million, 2014 - 2025)
South & Central America
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