Home/Analysis/Worldwide Healthy Snack Food Industry â€“ Current Market Dynamics Snapshot
Worldwide Healthy Snack Food Industry â€“ Current Market Dynamics Snapshot
Posted On: Dec 2023
Worldwide Healthy Snack Food Industry, since recently has been witnessing an uphill surge in its demand. These snacks are getting high attention due to organic nature, clean labeling, additives & preservatives free claim from the key manufacturers. Increasing health awareness, rising popularity of sports and growing concerns over obesity and related problems are expected to drive the demand of this market. In addition, expanding the portfolio of revolutionary products along with rising intake of healthy diets will further aid in the market growth in the near future. Longer working time, single-parent families and rising number of women professionals have created preference of healthy snacking over the traditional meal. Consumers' growing willingness to experience the excellent taste and convenience snack is having a huge impact on product development area. Additionally, snacks often play an emotional role, offering comfort during a boring or stressful day on the road or at the office. Growing demand for snacks as a solitary activity due to its portable and single serve is anticipated to fuel market demand in the forthcoming years. However, rising federal regulations due to rising prevalence of obesity is a key challenge, which may restrict market growth during the forecast period.
The global healthy snack food market has been segmented based on product into dried fruits and nuts, muesli bars, protein bars, grain-based snacks, and others. Bars and single-serve beverages are getting adoption over conventional snacking globally due to long working hours, convenient & easy to carry in the pocket and changing the lifestyle of the consumers.
Europe is a major market and is expected to grow significantly over the forecast period owing to the growing demand for healthy & nutritious snacking, rising technological strength and availability of major vendors in the region. Asia Pacific is a fastest growing market and is projected to grow at the highest CAGR due to the booming retail sector, rising penetration of foreign brands, growing trends for gifting snack food, creative marketing strategies and efficient supply chain in the region.
The major industry players include Select Harvest, Nestle, B&G Food, Hain Celestial, Calbee, Flamous Brands, KIND Healthy Snacks, Oceans Halo, and Navitas Naturals. The global market is highly competitive due to the presence of players with products with multiple positioning. Manufacturers are focusing on product innovation in processing technologies and a variety of ingredients to increase market penetration.
In Aug 2016, Fast food chains McDonalds and Greggs have launched new healthy snack ranges, such as nuts, fruit, and gluten-free food at Greggs and chicken nuggets free from artificial preservatives at McDonalds.
In May 2016, ‘Love with Food’ has introduced Gluten-Free Snack Box for Celiac Awareness Month
In May 2016, Us firms, Vermont smoke and cure has jointly launched high-protein health snack-meat sticks to extend its product portfolio.
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