Healthy Snacks Market to Reach Valuation of USD 122.4 Billion by 2028 – Rapid Increase in the Obesity Rate of the Global Population Drives the Market

Vantage Market Research

Jun 22, 2022

In terms of revenue, the Global Healthy Snacks Market is expected to reach USD 122.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.3% from 2022 to 2028.

The rapid increase in the obesity rate of the global population, raising health-conscious among worldwide consumers, and increasing development in the supply chain of products are anticipated to grow the market during the forecast period.

Key Highlights from Report:

  • The healthy savory snacks in the product segment held a significant share in 2021. This is attributable to the increasing needs of working-class people and college graduates, for whom healthy savory snack products have arisen as a supper alternative, fueling demand for this market. Individuals fulfill their appetites while also avoiding overeating at meal time with savory snack items. Baked chips that are all-natural, non-GMO, multigrain, and low in salt are being developed, as well as providing other health benefits. These chips, which are high in protein and low in fat, are often made with ragi, soya, and veggies.

  • The healthy fruit snacks segment is also projected to grow at a considerable Compound Annual Growth Rate (CAGR) during the forecast period. The industry has been split into meat snacks; nuts, seeds, and trail mixes; dried fruit snacks; cereal and granola bars; and so on. Nut-based snacks are popular among consumers because they are high in protein, fiber, and antioxidants, and they provide long-lasting energy. There are prebiotic, probiotic, and omega-3 fortified bars, as well as keto and paleo options, on the market. Furthermore, protein content in bars is increasing, with traditional whey and soy proteins being used more frequently, while pea protein is gaining popularity. Demand for nut and seed-based products will rise as plant-based and vegan diets become more mainstream. Due to increased demand for natural, organic, and clean-label products, nuts, seeds, and trail mixes are also predicted to rise at a quicker rate.

  • Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. Prebiotics and probiotics, which are helpful for the stomach and connected with immunity, are becoming increasingly popular in Asia. In recent years, adding functional components to snacks, such as macronutrients and antioxidants, has become a popular method for many manufacturers to create nutritious snacks. Furthermore, many businesses are stressing clean labels and product flavors as a way to attract customers. During the forecast period, this is expected to boost the market.

Market Dynamics:

The expansion of the worldwide Healthy Snacks Market has been propelled by an increase in demand and consumption of snack food in Asia-Pacific rising markets such as India and China. Increased disposable money, as well as changes in lifestyle and eating habits, are all contributing to the snacking market's expansion. Furthermore, the fast expansion of huge retail chains, such as hypermarkets and supermarkets, fuels the demand for low-calorie snacks. Furthermore, as people's preferences for ready-to-eat and convenient foods develop, their spending power grows, and demand for organic and conventional snacks grows, so does the demand for low-calorie snacks, propelling the Healthy Snacks Market forward.

The high cost of production, on the other hand, prevents widespread acceptance and is a key limitation on the global market. In the approaching years, however, an increase in customer desire to acquire premium and environmentally friendly items is likely to give prospects for growth. Furthermore, manufacturers confront challenges during the preparation of Healthy Snacks, which is restricting the market for these snacks. The texture and crispiness of any food are key features that customers look for when purchasing a product. The inclusion of whole grains and the reduction or elimination of fats and sugar has a detrimental impact on the moisture retention and binding ability of ingredients, which affects the texture of the final product. Similarly, the preservation and shelf stability of fruit and vegetable snacks are problematic.

North America held the largest shares in 2021. North America accounts for the largest share of the Healthy Snacks Market. With the outbreak of the COVID-19 pandemic in the United States, demand for healthful snacks has skyrocketed. The United States was already a huge snack consumer, but the focus has now switched to the consumption of healthy and nutritious snacks to avoid all the health hazards associated with excessive snacking. Additionally, the region's strong proliferation rates of supermarkets and hypermarkets, as well as convenience stores, are another important driver driving market sales. To expand their e-commerce presence, some convenience stores are working with delivery providers.