Global Healthy Snacks Market - 2023-2030

Market Overview

The Global Healthy Snacks Market reached US$ 88.2 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 141.6 billion by 2030. The market is growing at a CAGR of 6.1% during the forecast period 2023-2030.

Healthy snacks are food items that provide essential nutrients, are low in unhealthy additives or excessive calories, and offer a range of health benefits. These snacks support a balanced diet and contribute to overall well-being. Increase in the consumer's demand for plant-based snacks and gluten-free snacks, which helps to increase demand of healthy snack options.

Globally, consumers are looking for protein-rich snacks for their health benefits. Increasing the availability of healthy snacks with natural ingredients helps boost market growth over the forecast period.

Market Dynamics

The Increase in Availability of Different Snacking Options Helps to Boost Market Growth

Major key players in the market focusing on Nutritious snacks and Functional snacks product launches to expand their business. For instance, on December 12, 2022, Lil'Goodness launched Disney, Marvel-inspired products in the market. With some of the well-known Disney and Marvel characters on the packaging, the company is releasing a variety of prebiotic chocolates and extruded snack items as part of this offering.

Also, on November 2, 2022, Marico launched a yummy soya snack for breakfast. This product launch helps to expand companies' plant-based protein portfolio with the launch of Saffola Soya Bhurji. It is a protein-rich and delicious snack that takes less time to cook. It is launched in versatile Magic Masala flavor.

The Growing Awareness of the Importance of a Balanced and Nutritious Diet For Overall Health And Well-Being.

People are becoming more conscious of the impact of their food choices on their physical and mental health, leading them to seek out healthier alternatives, including snacks. As individuals become more educated about nutrition and its effects on their bodies, they actively seek snacks that align with their health goals. The demand of healthy snacks is fueled by a desire to maintain a healthy weight, manage chronic conditions, boost energy levels, support immune function, and enhance overall vitality.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

AI Impact

AI tools can analyze social media data, online reviews, and consumer behavior to gain insights into market trends, preferences, and sentiments. This information helps companies understand consumer preferences and develop targeted marketing campaigns for healthy snacks.

AI-powered chatbots and virtual assistants also provide personalized recommendations and engage with consumers to enhance their snacking experience. AI technologies, such as computer vision and machine learning, can be utilized for quality control and food safety monitoring in snack production facilities.

These systems can detect defects, anomalies, and potential contaminants in real time, ensuring the production of safe and high-quality snacks.

Russia-Ukraine War Impact

Russia and Ukraine wars create challenges; they can also lead to new export opportunities for healthy snack companies outside these regions. As trade dynamics change, companies from other countries may explore expanding their Russian or Ukrainian market presence. This could result in increased competition and the introduction of new healthy snack options.

Healthy snack companies may need to adjust their sourcing strategies and supply chain logistics to mitigate potential trade disruptions. They may seek alternative suppliers or explore new markets to ensure a consistent supply of ingredients and finished products. These adjustments can impact production costs and potentially influence the pricing of healthy snacks.

Segment Analysis

The global healthy snacks market is segmented based on product, distribution channel, and region.

Increasing Demand of Cereal and Granola Bars Due to the Availability of Different Flavours and Products

In 2022, the cereal and granola bars segment had the highest revenue share in the healthy snacks market. An increase in product launches by the major key players helps to boost the demand of cereal and granola bars. For instance, in February 2022, Magic Spoon expanded their portfolio by launching new limited-edition bars.

They are available in two types Cocoa Peanut Butter and Cookies & Cream. These are made with better ingredients, one gram of sugar, four grams of net carbs, and are free of gluten and grains and Magic Spoon's Cereal Bars have 10 grams of protein.

Geographical Analysis

Increasing the Trend of Eating Nutritional Food Helps to Boost Regional Growth In the Forecast Period.

In 2022, North America held the largest market share in the healthy snacks market due to increased consumer demand for low-sugar and low-fat snacks. An increase in investment and research and development activities by major key players helps to boost market growth.

Also, increasing product launches by major key players help boost the market growth. For instance, in March 2022, Boulder Canyon & Good Health launched new snacks in the market named as Jalapeno flavored Potato Chips and White Cheddar ABC Bites!. Both snacks are High-fiber snacks.

Competitive Landscape

The major global players include: Kind LLC, B&G Foods Inc., Hormel food corporation, Mondelez International, General Mills Inc., Tyson food Inc., The Kellogg Company, PepsiCo Inc., Nestle S.A, Unilever Plc.

Why Purchase the Report?

• To visualize the Global Healthy Snacks Market segmentation based on product, and distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous healthy snacks market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Healthy Snacks Market Report Would Provide Approximately 53 Tables, 51 Figures And 102 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies