Newark, Oct. 22, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 92.4 Billion in 2022 healthy snack market will reach USD 178.3 Billion by 2032. Consumers at present are looking for affordable, easily obtainable, and tasty snacks that will satisfy their daily nutritional needs. The food sector is evolving quickly because of advances in preservation science, processing, raw material utilisation, and innovative packaging techniques. This is driving innovation and the development of novel food products that are expanding the snacking market globally. The global market for healthy snacks is also expected to benefit from the growth of e-commerce platforms and distribution networks.
Report Coverage Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 92.4 Billion |
| Market Size in 2032 | USD 178.3 Billion |
| CAGR | 6.8% |
| No. of Pages in Report | 237 |
| Segments Covered | Product, Distribution Channel |
| Drivers | Rising awareness of the value of leading a healthy lifestyle |
| Opportunities | Businesses have plenty of room to innovate and create new, distinctive healthy snack items which stand out in terms of flavor, texture, and nutritional composition. |
| Restraints | The high Cost |
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Key Insight of the Healthy Snack Market
North America emerged as the most significant market, with 33.2% market revenue share in 2022.
North America dominated the market, with a market share of around 33.2% in 2022. Although Americans already ate a lot of snacks, they are increasingly mindful of consuming healthful snacks to prevent the numerous health risks connected to overindulging in snacks. The high concentration of supermarkets, hypermarkets, and convenience stores in the neighbourhood is another significant factor that has increased market sales.
The savory segment accounted for the largest market share of 38.3% in 2022.
The savory segment dominated the market, with a market share of around 38.3% in 2022. The primary customers in this group are working-class people and recent college graduates for whom healthy, savoury snack foods have become a viable option in place of a meal. Savoury snacks can help people curb their appetites and prevent overindulging during meals.
The supermarkets/hypermarkets segment accounted for the largest market share of 58.9% in 2022.
The supermarkets/hypermarkets segment dominated the market, with a market share of around 58.9% in 2022. The quick growth of retail infrastructure in developing countries has accelerated the growth of the sector. Furthermore, supermarket chains have adopted the speedy delivery services trend in an effort to boost their brand recognition internationally. A rising number of supermarkets have partnered with or invested in large fast delivery businesses in recent months.
Market Dynamics
Driver: Rising awareness of the value of leading a healthy lifestyle
Growing public awareness of the importance of maintaining a healthy lifestyle and making educated food choices has had a major impact on the market for healthy snacks. Since they are more conscious of the impact of their food choices on their overall health, consumers are actively searching for better substitutes for common snacks. Additionally, as more people choose specialised diets like veganism, vegetarianism, gluten-free eating, and dairy-free eating, the market for snacks that satisfy these dietary choices has grown. Individuals who are looking for workable alternatives select nutritious snacks that meet specific dietary requirements.
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Some of the major players operating in the healthy snack market are:
• B&G Foods
• Del Monte Foods, Inc.
• Dole Packaged Foods, LLC.
• Hormel Foods Corporation
• Monsoon Harvest
• Select Harvests
• Nestlé
• The Kellogg Company
• Unilever
• Danone
• PepsiCo
• MondelÄ“z International
Key Segments cover in the market:
By Product:
• Fruit
• Savory
• Confectionery
• Dairy
• Frozen & Refrigerated
• Bakery
• Others
By Distribution Channel:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Others
By Region
• Asia Pacific (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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