Healthy Snacks Market

Global Healthy Snacks Market:

Healthy Snacks Market - By Product, Distribution Channel and Region.

Market Synopsis:

The Global Healthy Snacks Market is valued at USD 84.9 Billion in the year 2021 and is expected to reach a value of USD 122.4 Billion by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 6.3% over the forecast period.

Healthy Snacks are snacks that are free from unhealthy elements and are safe to consume. Increasing health awareness and focusing on fitness is expected to positively influence the Healthy Snacks Market potential over the forecast period. Rising disposable income and increasing availability of healthy alternatives to unhealthy foods are expected to favor the Healthy Snacks Market growth over the coming years. However, lack of awareness is expected to hamper the Healthy Snacks Market growth in the long term in various economies where health is not a major concern among the population.

The rising prevalence of chronic diseases has pushed people to adopt preventive measures and increased awareness of health which is expected to boost the adoption of Healthy Snacks through 2028. The increasing working population and rising preference for quick healthy foods are also expected to propel Healthy Snacks Market growth across the forecast period. Increasing demand for personalized Healthy Snacks is anticipated to be a popular trend in the Global Healthy Snacks Marketplace.

Market Segmentation:

The Healthy Snacks Market is segmented based on Product and Distribution channels. Based on the Distribution Channel the market is segmented as Supermarkets & Hypermarkets, Convenience Stores, Online, and Others. Based on Product, the market is segmented as Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, and Other Products.

Based on Distribution Channel:

Based on Distribution Channels, the market is segmented as Supermarkets & Hypermarkets, Convenience Stores, Online, and Other Channels. The Supermarkets and Hypermarkets segment is projected to lead sales of Healthy Snacks across the world owing to the high volume of these Distribution Channels across the world. Increasing digitization is expected to boost sales via online channels across the forecast period. The rapid development of retail infrastructure is also projected to provide a lucrative setting for the supermarket segment.

Based on Product:

Based on Product, the market is segmented into Frozen & Refrigerated, Fruit, Bakery, Savory, Confectionery, Dairy, and Others. The healthy savory snacks segment is projected to account for a dominant outlook over the forecast period. The increasing working population and their rising preference for savory snacks as a dinner alternative are expected to prominently drive demand for this segment across the forecast period. Increasing consumption by students is also anticipated to play a crucial role in the years to come.

North America Accounts for a Dominant Market Share

North America Healthy Snacks Market accounts for a major market share and is anticipated to be the most rewarding region in the world. The rising prevalence of lifestyle disorders and the emergence of various diseases has led to a substantial increase in focus on health and hence driven the demand for Healthy Snacks in this region. Especially after the COVID-19 pandemic, the region has witnessed an increase in the consumption of Healthy Snacks. Notably, the United States is projected to be the most important market in this region. High consumer spending potential, the presence of a developed retail infrastructure, and the increasing incidence of lifestyle disorders are some key factors that drive demand for Healthy Snacks in this region.

The Healthy Snacks Market in this region held a market share of 32.6% in 2021 and was worth USD 27.6 billion. The market for Healthy Snacks in the Asia Pacific region will witness the fastest growth in demand. Rising disposable income and increasing focus on health are expected to be major factors driving Healthy Snacks consumption.

Competitive Landscape:

The key players in the Global Healthy Snacks Market include- Nestle, The Kellogg Company, Unilever, Danone, PepsiCo, Mondel Äz International, Hormel Foods Corporation, Dole Packaged Foods LLC., Del Monte Foods Inc., Select Harvests, B&G Foods, Monsoon Harvest and others.

Segmentation of the Global Healthy Snacks Market: