Healthy Snack Market – Overview
The increasing popularity of snacks among the young population has boosted the global healthy snack market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Healthy Snack Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
People are demanding varieties in snacks which are healthy to eat; this has encouraged companies to launch new products. Several companies have been announcing the launch of healthy products with new tastes, flavors, and shapes to maintain their competitiveness in the market. Moreover, customers’ increasing inclination towards healthy ingredients in snack is compelling the healthy snack companies to innovate their products for customer retention.
Earlier snacks were considered as a break time light food. However, in the recent times people have been increasingly eating them between the meals. Snacks are being considered as fourth meal of the day in the U.S. Americans are forerunners amongst the snack eaters between the meals as they love to snack everywhere from theater, to workplace, to car, and even on the subway. This trend has a wide impact over the global healthy snack market owing to changing consumer preference towards healthy diet. Additionally, consumers are likely to shift towards healthy ingredients in snack products owing to aided health support associated with the consumption.
Furthermore, healthy snacks with ingredients such as fiber and high protein content beneficial in improving digestion are supporting the market growth. Additionally, ongoing R&D activities in healthy snack to add up healthy ingredients for better nutritional support are adding fuel in the growth of Healthy Snack market.
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Latest Industry Updates
- Oct-2017 L T Foods launched its premium rice based snacks brand Kari Kari in India. This product launch will attract huge consumers looking forward for healthy snacks. Also, the company is highly focused on technological advancement for new product launch.
- Oct 2017 Danone India Pvt. launched its new product portfolio of nutrition and dairy products meant for the healthy snack market in India. The new product protinex byte which is a protein multigrain biscuit meant for office-going consumers looking for a healthy snack on the go. The company is focused on new product launch with introducing nutritional and healthy ingredients in its wide range of snack products.
- Sep 2017 Whitworths company added to its growing snacking portfolio with the launch of new range alternative to healthy snacks. The company is highly motivated towards new product launches to meet up increasing consumer demands.
- Mar 2017 Bare Snacks, creator of delicious Snacks Gone Simple, launched its innovative new snack line, bare Chia Coconut Bites, which would be available in three crave-ably crunchy flavors including Chia + Vanilla, Chia + Pineapple and Chia + Flax. Growing consumer demand for healthy snacks has pushed the company to come with innovative and healthier products.
Healthy Snack Market – Competitive Analysis
The companies are rigorously involved in R&D activities to launch their new products. LT foods and Bare snacks have launched number of new products in healthy snacks range. New product launch from these companies to differentiate their product line from their competitors is the key strategy followed by theses comapnies. Most of the product launched by these companies are blended which nutritive ingredients with added taste and flavors. Also, the Kellogg Company is readily involved in strategic product launches in healthy snack segment. Majority of the players in the spices market are concentrated in the European region in terms of supply. Additionally, companies are more focused more on introducing new ingredients for healthy snack products. The key players profiled in healthy Snack are as Mountain house, snack naturally, jummybo, the good grocer, custom varietea, plenty 4 you, food hot issue, bare fruit, Quakers, Sincerely Nuts, and Harmony House Foods.
Healthy Snack Market – Segments
The global healthy snack market has been divided into source, nutrition, and region.
- On the Basis of Source: Grains and Pulses, Vegetable, Fruit, Dried Fruit, and Others
- On the Basis of Nutrition: Low Fat, Free of Trans-Fat, Sugar Free and Others
- On the Basis of Region: North America, Europe, Asia Pacific and ROW.
Healthy Snack Market – Regional Analysis
The global healthy snack market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Europe is dominating among all the regions owing to changing consumer perception regarding snack among the youth. The younger population is looking forward for higher nutritive support from the snacks, which is considered to be the major driving factor in this region. Additionally, wide range offerings in healthy snacks are anticipated to the uplift the overall market in this region.
Furthermore, growing food & beverage product manufacturing in developing countries such as China and India associated with cheap and skilled workers is predicted to surge the level of production. Additionally, increased demand from the food industry in Asia Pacific region is likely to uplift the market growth over review period.
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