May 27, 2019
Worldwide healthy snacks market is projected to reach around US $40,699 million by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
According to the report, the global healthy snacks market has gained traction due to the immense increase in the obesity rate of the worldwide population. Rising concerns over healthy eating habits, coupled with growing disposable income in emerging nations, also drives the global market growth.
People around the world are increasingly preferring snacks with high fiber content, protein, whole grains, calcium, vitamins & minerals. Thus, there has been an upsurge in the demand for snack products that help consumers with weight maintenance and provide nutritional requirements and are in line with their fitness goals. However, the market growth is often hindered by the hefty costs of the healthy snacks. The latest report cites that new emerging markets, developing consumer demographics, and sale via online channels are among the crucial factors expected to propel the growth of the healthy snacks market in the ensuing years.
Augmenting incidences of health issues pertaining to obesity have surged awareness regarding healthy eating habits, plus, soaring digitization and access to information have also contributed majorly to consumer awareness.
Speaking of the product type spectrum, the global healthy snacks market is fragmented into dried fruit snacks, nuts & seeds snacks, cereal & granola bars, meat snacks, and others. As reported, the cereal & granola bars segment dominated the worldwide market in terms of revenue, in the year 2017, and is projected to lead the market over the forecast timeline, given the surging demand for on-the-go nutritious snacks. The report also cites that better taste and enhanced filling capacity are among the added features that further encourage the consumption of cereal & granola bars among people.
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Based on the geographical presence, the global healthy snacks market consists of five major regions, including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is further divided into the United States, Mexico and Canada, while the European region comprises the United Kingdom, Italy, France, Germany, and the rest of Europe. The Asia Pacific market covers India, Japan, China and the rest of Asia Pacific, and the Latin American market includes Brazil.
According to the findings of the report, Europe held the majority share in the worldwide healthy snacks market in the year 2017. The APAC market is poised to expand at the highest CAGR throughout the predicted timeline. Asia Pacific nations including China, Japan, and Australia, have registered a massive increase in the obese and geriatric population, which has in turn, stimulated the demand for healthy snacks in these regions. The sedentary lifestyle, along with hectic work schedules, have bolstered the adoption of healthy snacking options among the consumers. With the rising health & fitness consciousness, consumers are continually tracking their nutritional intake and increasingly opting for healthy snacks, thus fueling market growth. Leading global players are extending their footprint in emerging nations such as India, Japan, China, Malaysia, and Indonesia, in a bid to tap their growth potential, claims the report.
Renowned market players enumerated in the report include The Kellogg Company, PepsiCo Foods, The Kraft Heinz Company, General Mills, Nestle S.A., Nutrisystem Inc., Hormel Foods Corporation, Mondelez International Inc., Herbalife Ltd., Calbee Inc., B&G Food Inc., and Tyson Foods Inc. among others. The market behemoths are focusing on partnering with other market leaders in a bid to innovate and introduce new products and fulfil the growing needs of consumers. They are also taking several initiatives to enhance awareness among consumers, for instance, by means of health subscriptions and marketing campaigns.