Polaris Market Research has released new research which discovered the global healthy snack market is anticipated to reach around $40,699 million by 2026.
In 2017, the cereal and granola bars segment dominated the global market, in terms of revenue, and Europe accounted for the majority share in the global healthy snacks market.
The rapid increase in the obesity rate of the global population majorly drives the growth of the healthy snacks market. Growing concerns regarding healthy eating habits and increasing disposable income in developing regions support market growth.
Consumers are increasingly consuming snacks with a high content of fiber, calcium, protein, whole grains, vitamins and minerals and there has been an increasing demand of snack products, which enable consumers to maintain weight, provide nutritional requirements and align with their health goals. Major factors for increased demand include an additional source of protein and other nutrients.
However, the high costs of healthy snacks limit the growth of the market. New emerging markets, emerging consumer demographics and sale through online channels are set to provide growth opportunities for the healthy snacks market in the coming years.
Increasing incidences of health disorders related to obesity have resulted in increased awareness regarding healthy eating habits. Health and fitness consciousness is also increasing in countries such as China and India due to improving lifestyle and changing food habits. Consumers are also tracking their nutritional intake, and consuming healthy snacks.
The growing digitization and access of information has further increased consumer awareness. Leading players in the market are also taking initiatives to increase awareness among consumers through health subscription and other marketing campaigns.
Asia-pacific is expected to grow at the highest CAGR during the forecast period. A significant rise in the obese population has been registered over the past few years in Australia, China and Japan among others.
The obese and geriatric population is increasing in this region, increasing the demand for healthy snacks. Sedentary lifestyles coupled with hectic work schedules are encouraging consumers to adopt healthy snacking options to meet their nutritional requirements.
Increasing awareness regarding the health benefits of healthy snacks and rising disposable incomes in developing countries of this region augment the market growth in the region. Leading global players are expanding their presence in developing nations such as China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.
Healthy snacks include dried fruit snacks, meat snacks, cereal and granola bars, nut and seed snacks and others. The cereal and granola bars segment is expected to lead the market during the forecast period owing to increasing demand for on-the-go nutritious snacks.
Additional features, like better taste and increased filling capacity, further encourage consumption. These bars provide instant energy, thereby increasing their demand among athletes.
Well-known companies profiled in the report include PepsiCo Foods, Nestlé S.A., General Mills, The Kellogg Company, The Kraft Heinz Company, Herbalife Ltd., Nutrisystem Inc., Mondelez International, Inc., Hormel Foods Corporation, Tyson Foods, Inc., Calbee Inc.and B&G Food Inc., among others.