The global protein snacks market size is expected to reach USD 8.93 Billion at a revenue CAGR of 10.1% in 2030, according to latest analysis by Emergen Research. The market revenue growth can be attributed to the fact that there is a rising preference for healthy snacking among customers. As protein snacks offer important benefits including contentment and energy hence, high-protein savory snacks are fulfilling the demand from consumers for healthy protein in savory forms. People spent more time at home during the shutdown which increased their consumption of savory snacks that were in high demand in 2020. Nuts, seeds, and trail mixes are a few goods that cater to customers demand for savory snacks with protein. For instance, fortified additions, such as Glanbia’s CrunchieTM MilkProteinBites, can increase the protein content of trail mixes while adding a crunchy texture.
The latest and updated research report on the Global Protein Snacks Market covers a comprehensive overview of the Protein Snacks market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis. The report also covers the influence of the COVID-19 pandemic on the Protein Snacks market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
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Some Key Highlights in the Report
- On 02 June 2021, RXBAR, which is a subsidiary of Kellogg launched its first-ever plant-based offering. RXBAR Plant has 10 grams of protein and replaces the brand’s signature egg white protein with pea and almond protein. Flavors include peanut butter and chocolate
- Protein flakes segment is expected to register the fastest revenue CAGR during the forecast period. Revenue growth of the segment can be attributed to the presence of essential nutrients that aids in repairing and enhancing the performance of the body. As there is a rising number of sportspersons across various sports, protein flakes are also gaining popularity and hence driving revenue growth of the segment. Furthermore, protein flakes contain flakes of various kinds of cereal that finds application in extreme sports such as marathon, relay, and others thereby driving revenue growth of the segment.
- The E-commerce segment accounted for a significant revenue share in 2021. Manufacturers are establishing online stores to better address consumer demands while increasing profit margins since they understand the potential of the channel. Companies operating as sales channels such as Amazon, Walmart, NuGO Natures Basket, and many others have expanded their direct-to-consumer businesses to meet the rise in e-commerce demand. This is owing to stay-at-home orders for almost a year and a half due to COVID-19, e-commerce shops have become a popular option for any form of purchase in the majority of the world. Furthermore, e-commerce trends include multipack buying owing to which various partnerships are being made by manufacturers for delivering the goods. Moreover, multipack buyers get additional offers which positively affects the revenue growth of the segment.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
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Prominent Players Analyzed in the Report:
Del Monte Foods, Inc, B&G Foods, Inc., PepsiCo, Hormel Foods Corporation, Unilever, Kellogg Co., Nestlé, Danone, Monsoon Harvest, Tyson Foods, Inc., and Clif Bar & Company.
Furthermore, the report divides the Protein Snacks market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global protein snacks market based on product type, sales channel, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Protein Bars
- Protein Cookies
- Protein Flakes
- Protein Drinks
- Sales Channel Outlook (Revenue, USD Billion; 2019-2030)
- Convenience Stores
- Specialty Stores
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Protein Snacks Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Protein Snacks industry
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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